Discover it® Student Cash Back Review

Get paid for earning good grades and enjoy standout rewards. The Discover it® Student Cash Back should be at the top of your list if you are a student looking for a sweet credit card.
  • Annual Fee:
    $0
  • Regular APR:
    12.99% - 21.99% Variable APR
  • Recommended Credit Score:
    Fair, New to Credit

Disclaimer: This post contains references to products from one or more of our advertisers. We may receive compensation (at no cost to you) when you click on links to those products. Read our Disclaimer Policy for more information.

Are you a current student? Do you have a sweet credit card to show off to your friends? If not, let me introduce you to the Discover it® Student Cash Back Credit Card.

Discover it® Student Cash Back card is one of two credit cards Discover offers to students. This article will discuss the pros and cons, benefits and rewards, and the nitty-gritty details of the Discover it® Student Cash Back card.

Let’s dive in!

Discover it® Student Cash Back Pros and Cons

Pros:

  • Discover it® Student Cash Back card has a $0 annual fee.
  • Variable APR of 12.99 – 21.99%.
  • 0% intro APR on purchases for 6 months and 10.99% intro APR on balance transfers for 6 months.
  • Discover it® Student Cash Back card has a no penalty APR.
  • Students earn 5% cashback on everyday purchases at different places each quarter, limited to $1,500 each quarter, and 1% back on all other purchases.
  • Discover it® Student Cash Back card will match all your rewards earned the first year!
  • Your first late payment fee is waived.
  • You will receive a $20 statement credit each year, up to five years, that your GPA is 3.0 or higher.
  • It is easy to redeem your rewards.
  • You do not need to have credit established to be approved.
  • Discover it® Student Cash Back card helps you build credit as Discover reports to all three credit bureaus.
  • You are given numerous card designs to select from.
  • An intuitive app that is available on iOS and Android smartphones.
  • You can earn statement credits, $50 to $100, for referring your friends.
  • Discover it® Student Cash Back card offers free alerts when Discover finds someone else using your SSN.

Cons:

  • You must enroll in the quarterly reward categories to earn 5%.
  • There is a limit on the 5% rewards each quarter.
  • Discover it® Student Cash Back card has a high late payment fee of $40.

What Is the Discover it® Student Cash Back Credit Card?

Discover it® Student Cash Back card is one of two cards that Discover has available for students. Students do not need to have established credit to be approved for the Discover it® Student Cash Back card, unlike most credit cards.

You will receive a credit limit of at least $500 which will be dependent on your credit score, much like your APR will be. While you are in school, students can earn a $20 statement credit each year, up to five years, that your GPA is 3.0 or higher.

Since Discover it® Student Cash Back card reports to all three credit bureaus, you will be able to build your credit profile right away. Once you graduate, you can continue using the Discover it® Student Cash Back card.

How Does the Discover it® Student Cash Back Card Work?

Discover encourages students to apply for the Discover it® Student Cash Back card via their website. Since you do not need to have established credit, your odds of approval are high, and you normally get confirmation within a matter of minutes.

If you are approved, you will receive your Discover it® Student Cash Back card in the mail within 10 business days.

Once you receive it, activate the card by following the directions included in the mailing. When you get confirmation that your card is active, you can start using your new Discover it® Student Cash Back card anywhere Discover is accepted!

Discover it® Student Cash Back Review

  • Annual Fee: There is no annual fee for the Discover it® Student Cash Back card.
  • Regular APR: The regular APR is 12.99% – 21.99% depending on your credit score.
  • Introductory APR: Once you receive your Discover it® Student Cash Back card, you will have a 0% introductory APR on all purchases for 6 months and 10.99% intro APR on balance transfers for 6 months.
  • Rewards: Although you will need to activate quarterly rewards, once you do so, you will earn 5% cashback on said categories, up to $1,500. You will also earn 1% back on all other purchases with no limits. You will also receive a $20 statement credit each year that your GPA is 3.0 or higher. Referring a friend can earn you $50-$100. Discover will match your rewards for the first year!
  • Welcome Bonus: As a welcome bonus, Discover it® Student Cash Back card will match your rewards the first year. You will also receive an introductory APR of 0% for 6 months and 10.99% on balance transfers.

Discover it® Student Cash Back Rewards

Discover it® Student Cash Back card offers many rewards for using the card as well as just for being a cardholder. You will soon find out why millions of Americans choose this credit card. It is easy to use and packs a serious punch.

Earning Rewards

Earning rewards with the Discover it® Student Cash Back card is as easy as using your card! You will earn 5% on certain categories each month, up to $1,500.

You will need to activate this offer each quarter. Outside of the special category, you will earn an unlimited 1% on all other transactions.

Keeping your GPA at 3.0 or higher will also earn you a $20 statement credit each year. If you would like to refer a friend, you could earn $50-$100. As a bonus, Discover will match your earned rewards the first year!

Redeeming Rewards

Redeeming your rewards for the Discover it® Student Cash Back card is as easy as earning them. You can redeem your rewards in any increments for either cash, statement credit, a donation to your favorite charity, or a gift card to one of their partners.

Discover it® Student Cash Back Features and Benefits

Outside of flexible rewards, the Discover it® Student Cash Back card also has many features and benefits to students, as outlined below.

No Annual Fee

The Discover it® Student Cash Back card has a $0 annual fee!

Earn Rewards While You Build Credit

With Discover it® Student Cash Back card reporting to all three credit bureaus, you will be establishing and building your credit while earning rewards.

Designed for Students

Due to Discover it® Student Cash Back card being accessible to any student with an SSN, regardless of having credit established or not, this is a great card to get started with to build your credit.

As with all credit cards, you will want to make sure you do not miss any payments and paying off the balance in full each month.

Awesome Rotating Categories

Although you have to initiate the quarterly offers, the Discover it® Student Cash Back card allows you to earn 5% on purchases such as Amazon, grocery stores, restaurants, gas stations, and more.

Any purchases outside of these special quarterly categories will earn at 1% of the purchase price.

How Does the Discover it® Student Cash Back Compare to Other Student Credit Cards?

Now that you know a little more about the Discover it® Student Cash Back card, here are some alternative options.

#1. Discover it® Student Cash Back vs. Discover it® Student Chrome

Discover it® Student Chrome card is the other student card offered by Discover. With the Discover it® Student Chrome card, you will earn 2% on purchases at gas stations and restaurants and then 1% on all other purchases.

You will share the same benefits as the Discover it® Student Cash Back card, such as earning a $20 statement credit each year – up to five years, when your GPA is 3.0 or higher, Discover matching your rewards the first year, easy redemption of your rewards, and referral bonuses.

#2. Discover it® Student Cash Back vs Petal® 2 “Cash Back, No Fees” Visa® Credit Card

Petal® 2 “Cash Back, No Fees” Visa® Credit Card, issued by WebBank, takes the no fees to the extreme! You will not incur fees for late payments, annual fees, or international fees.

Higher credit limits are known to be given as well, up to $10,000. However, you will only earn 1-1.5% cash back, and there are no matching rewards or special offers.

#3. Discover it® Student Cash Back vs. Chase Freedom® Student Credit Card

Chase Freedom® Student Credit Card is similar in that there is a $0 annual fee, and most students are accepted.

With the Chase Freedom® Student Credit Card, you will earn 2,000 points ($20) after each anniversary for your first five years.

You will also earn a $50 bonus when you make your first purchase within 90 days of receiving your card and 1% cash back on every purchase you make (where Visa is accepted).

To help students build their credit, Chase Freedom® Student Credit Card will raise your credit limit automatically when you make 5 payments on time.

Frequently Asked Questions

Here are some frequently asked questions about the Discover it® Student Cash Back card.

Is the Discover it® Student Cash Back a Good Credit Card?

If you are a student with little to no credit establishment, then Discover it® Student Cash Back is a great card for you to start establishing credit while earning rewards.

Does the Discover it® Student Cash Back Help You Build Credit?

Discover it® Student Cash Back card reports to all three credit bureaus, which help you build your credit, as long as you make payments on time.

Do You Have to be a Student to Qualify for the Discover it® Student Cash Back Card?

You must be a student to qualify for the Discover it® Student Cash Back card. However, you can continue using the card after you graduate.

When you graduate, Discover encourages you to call them to update your information and income, which can potentially increase your spending limit.

What Happens to the Discover it® Student Cash Back Card When I Graduate?

You can continue using your Discover it® Student Cash Back card without issues. Calling Discover and updating your information, such as income, could increase your spending limit, says Discover.

Can You Get the Discover it® Student Cash Back with No Credit History?

Yes, the Discover it® Student Cash Back card is for students with little to no credit history.

Bottom Line: Discover it® Student Cash Back Review

If you are a student with little to no credit establishment, then the Discover it® Student Cash Back card is a great card for you.

You will receive nice rewards, with flexible redemption options, while building your credit as Discover it® Student Cash Back card reports to all three credit bureaus on your behalf.

Brian Latchford
Brian Latchford

Brian is a serial entrepreneur that loves financial technology and personal finance. From working with start-ups to creating his own recruiting company, Brian knows first hand what it takes to manage money. Throughout his career, Brian has become a respected writer covering topics in personal finance, business, and financial technology.