At BankCreditRates, our mission is to assist you in making informed financial choices. We are committed to upholding rigorous editorial standards. Please note that this article may make mention of financial products offered by our trusted partners.
Are you a college student looking to apply for a new credit card? You may have heard of the Discover It Student Cashback card in the finding process. If you want to build credit, hate annual fees, love earning rewards, and want a low-interest rate, fee structure, and a credit card protection feature, then the Discover It Student Cash back card is one for you.
The Discover it Student Cash Back card is a special one in the Discover card lineup. Today we are going to discuss about Discover It Student cash back card and see whether it is a right fit for you.
- 1 What is a Discover it® Student Cash Back?
- 2 Why do You Need a Discover it® Student Cash Back?
- 3 Reason to Skip the Discover it Student Cash Back
- 4 Eligibility for Discover it® Student Cash Back?
- 5 How To Increase Discover it Cash Back Rewards for Students.
- 6 Pros and Cons of Discover it Student Cash Back
- 7 Is the Discover it® Student Cash Back worth it for you?
- 8 Conclusion
- 9 FAQs
- 9.1 Is the Discover it Student Cash Back a good credit card for college students?
- 9.2 How does the cash back rewards system work for the Discover it Student card?
- 9.3 Can international students apply for the Discover it Student Cash Back card?
- 9.4 What are the key features that make the Discover it Student Cash Back card stand out?
- 9.5 What’s the typical starting credit limit for Discover it?
- 9.6 What’s the lowest credit you can get for a Discover it credit card?
What is a Discover it® Student Cash Back?
The Discover It student cash-back card offers several benefits. It is a great card for building a financial reputation with earning some rewards in the process.
This card is specially designed for college students with no annual fee, 5% cash back on rotating quarterly categories, 1% cash back on all the purchases, and a 0% intro APR on purchases for 6 months, after that 18.24%-27.24% variable APR.
Discover will automatically match all the rewards earned at the end of the first year. There will not be minimum spending or maximum reward with the Discover it Student Cashback card.
Students who want to study abroad can use this card as it has no foreign transaction fee. However, the Discover cards might not be as widely accepted outside the U.S. as other major card companies. So you can consider a student card on the Visa or Mastercard which will be a smart move for your international journey.
Is the Capital One SavorOne Student Cash Rewards Credit Card familiar to you? It’s really great for learners.
Why do You Need a Discover it® Student Cash Back?
Choosing a card depends upon your financial goals and spending habits. If you are a responsible spender looking for a credit to build credit without extra costs, the Discover it Student Cash Back card will be a smart choice. The Discover It Student Cash Back card can be a great choice for you in various situations:
No Annual Fee:
If you are looking for a card without an annual fee, this card is a solid option. You do not need to worry about justifying your spending to offset any fees, which makes it beneficial for students.
High Cash Back Rate
The card offers lots of rewards in specific spending categories that change each quarter. You can earn 5% cash back in all these categories. For all other purchases, you will get 1% cashback. This is a good deal compared to many other student cards that offer only 1 % cash back.
Discover it cards will match all the cash back you earn in your first year. While it is not a common upfront sign-up bonus, it can be rewarding, especially if you can maximize the card’s rotating categories.
Flexible redemption options:
Discover provides various ways to redeem your rewards, which include statement credit, direct deposits, donations to charity using Amazon.com or via Paypal, and redeem for gift cards.
Intro APR offers:
You can delay paying interest charges on purchases and balance transfers with the card’s intro APR offers. There is a 0% intro APR on purchases for the first six months and a 10.99% intro APR on balance transfers for the first six months. Afterward, a variable APR of 18.24% to 27.24% applies.
Low or No fees:
This card is a cost-effective option with no annual fee, no foreign transaction fees, and no first-time late payment fee. There is also no penalty APR that provides a safety net for those new to credit.
Great customer service and security protection:
Discover is also known for its excellent customer service and strong security measures. You will have access to 24/7 U.S.-based customer service, free FICO credit score access, and credit monitoring to safeguard your information.
Reason to Skip the Discover it Student Cash Back
Yes. The Discover it Student Cashback may not be the best choice for you in certain situations:
Rotating Categories Hassle:
If you want a simple approach to rewards and don’t want to bother with activating different categories each quarter, this card may not be an ideal choice. Earning 5% cash back in rotating categories requires quarterly activation and this extra step might be inconvenient for those who value simplicity.
Limited Rewards Cap:
The card has a cap on rewards, that offers 5% cash back on up to $1500 in combined purchases per quarter. This means you will max out at $6000 in spending for the year, which results in a maximum of $300 in cash-back earnings. If your spending exceeds these limits you won’t earn a higher cash-back rate.
Qualify for better cards:
If you already have a good or excellent credit score, perhaps due to being an authorized user on a parent’s credit card, you might be eligible for higher-tier rewards credit cards. In such cases, you could explore cards with more attractive benefits and features customized to higher credit profiles.
Did you hear about the Discover It Student Chrome Card? For students, this credit card is fantastic.
Eligibility for Discover it® Student Cash Back?
The Discover it Student Cash Back credit card is a good fit for studentswho are enrolled at a two or four year university or college, have a good or excellent credit score, want to earn cashback rewards on everyday spending, and looking for a card with no annual fee.
If you are a student who is looking for a rewards credit card with no annual fee, the Discover student cash back credit card can be a great option.
How To Increase Discover it Cash Back Rewards for Students.
If you’ve got the Discover it® Student Cash Back card, your first year with it is the golden time to score big on rewards.
Why? Well, Discover is offering an awesome deal: they’ll match all the cash back you earn in your first year, dollar for dollar.
Make the most of the 5% cash back in different categories that change every three months. Just activate it each quarter and spend up to the max limit to snag $300 in cash back.
And guess what? That $300 will double to a cool $600 by the end of your first year. And that’s not all you’ll also rack up 1% cash back on all other purchases, which will also double after your first year.
Quick tip: Once you graduate, your Discover it® Student Cash Back card transforms into a regular credit card with the same awesome cash back perks. Consider asking for a credit limit boost based on your new income and living situation to supercharge your rewards game. Happy spending!
Pros and Cons of Discover it Student Cash Back
|$0 annual fee
|Rotating cash back categories
|Generous welcome bonus
|Low cash back rate on non-bonus categories
|Ongoing cash back
|No travel perks
|No balance transfer fee
|Requires good credit history
|Good credit-building features
Is the Discover it® Student Cash Back worth it for you?
The Discover it Student cash-back card stands out with its competitive cash-back rates, which provide an excellent opportunity for students to build credit and experience the benefits of cash-back rewards.
However, If you are a student planning to study abroad, it is essential to note that Discover may not be as widely accepted outside the U.S. as the major card issuers. This could be a drawback for those who regularly travel or study abroad.
The card’s cash-back system with quarterly rotating categories and activation requirements, might be somewhat complex.
For students who prefer a simple reward structure without additional effort, this benefit could be a downside. Despite all these considerations, the Discover it Student Cash Back card remains a strong choice for students.
It offers valuable features like competitive cashback rates, and an intro APR on purchases, and serves as an effective tool for knowing about credit management, spending responsibly, and overall financial health.
The Discover it Student Cash Back card is an excellent choice for student that offer attractive features without an annual fee and no strict credit score requirement. Discover it Student Cash back card receives high praise as a student credit card. It stands out with its impressive reward program. Its absence of an annual fee makes it even more attractive. While the concept of rotating bonus categories may be a bit complex compared to flat cash-back cards, the unlimited cashback match features add significant value in the first year.
Is the Discover it Student Cash Back a good credit card for college students?
Yes, the Discover it Student Cash Back card is a popular choice for college students. It has no annual fee, offers cash back rewards, and provides opportunities to build credit.
How does the cash back rewards system work for the Discover it Student card?
The Discover it Student Cash Back card offers 5% cash back in rotating quarterly categories, with a cap of $1,500 in combined purchases per quarter. All other purchases earn 1% cash back. Discover also matches all the cash back earned in the first year.
Can international students apply for the Discover it Student Cash Back card?
Yes, international students can apply for the Discover it Student Cash Back card. However, it’s important to note that Discover may not be as widely accepted outside the U.S., so having a backup card on the Visa or Mastercard network is advisable.
What are the key features that make the Discover it Student Cash Back card stand out?
The Discover it Student Cash Back card stands out due to its $0 annual fee, generous welcome bonus, ongoing cash back rewards, no balance transfer fee, good credit-building features, and excellent customer service with security protections.
What’s the typical starting credit limit for Discover it?
everyone gets at least $500 to kick things off. But, guess what? It could be even more! Discover keeps the maximum limit a secret, but some folks have shared they got anywhere from $2,000 to $11,000.
What’s the lowest credit you can get for a Discover it credit card?
What’s the least credit limit for a Discover Card? For Discover it® Miles, Discover it® Chrome, NHL® Discover it®, and Discover it® Student Cash Back, the minimum is $500
Nicole Hughes is a credit card and loan expert content writer based in New York. With a knack for simplifying financial jargon, she creates informative and reader-friendly content. Her work empowers individuals to make informed decisions regarding credit and loans, ensuring financial well-being.