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Hellooo…, we are back with another card review. In this article, we will be talking about the Discover It Student Chrome card. We will be providing you with extensive insight about this card so that you will get help to choose the right card.
Discover It Student Chrome card is for students who are beginners and want to start building their credit history. Let us now get into more details about this card so keep on reading.
- 1 What is a Discover It Student Chrome card?
- 2 Why Do You Need a Discover It Student Chrome Card?
- 3 Why to Skip the Discover It Student Chrome Card?
- 4 Who will be Suitable for the Discover It Student Chrome card?
- 5 Discover It Student Chrome Card vs Cashback Card
- 6 Pros and cons of Discover It Student Chrome card
- 7 Is the Discover It Student Chrome Card Worth it for You?
- 8 Conclusion
What is a Discover It Student Chrome card?
If you are a student who goes to school and regularly dines out, the Discover it Student Chrome card will be the perfect choice to earn some rewards.
You will earn 2% cash back at gas stations and restaurants on up to $1000 in combined purchases each quarter, and 1% cash back on all other purchases. Just like you prepare for your exams, choosing a credit card should also involve more effort than a glance at the highlights.
This card comes with several interesting benefits. One standout feature is the Unlimited Cashback Match. The card will automatically match all the cash back you have earned at the end of the first year, with no minimum spending or maximum rewards.
Additionally, you will also get 0% intro APR on purchases for the first 6 months, and after that standard variable APR of 18.24%-27.24% will be applied. The card even offers a waiver on late fees for your first payment. If you are new to using credit cards and managing monthly payments, Discover will give you a free pass for your learning curve.
Why Do You Need a Discover It Student Chrome Card?
If you are a student looking for a credit card to kickstart your credit journey and earn rewards along the way, the Discover it Student Chrome card is a perfect choice. It will offer you competitive rewards specifically tailored for students and comes with a user-friendly structure.
Rewards: Student Friendly and Simple:
Student cards are designed to cater to the student’s needs, and the Discover it Student Chrome card never disappoints you. Its rewards program is student-centric and easy to use.
If you regularly spend on dining and gas which is common spending for students, you will find this card helps you earn and maximize the rewards effortlessly. Your earned rewards never expire as long as your account is open and in using condition.
You can redeem them for cash back anytime or use them instantly on shopping platforms such as Amazon. The redemption options include electronic deposits, statement credits, gift cards, cashback at selected retailers, and donations to charities.
Is the BankAmericard Credit Card familiar to you? It provides wonderful benefits including low interest rates and cashback incentives.
Welcome offers: Standout Among Student Cards
Discover’s cashback match program set a high standard for welcome offers, especially in the student credit card sector. Unlike other cards that offer small bonuses, Discover matches your rewards dollar for dollar at the end of the first year.
If you earn $200 in rewards during your first year, Discover will double it and give you a total of $400. This offer surpasses many competing student cards in the market.
Rates and Fees: Budget-friendly for students
The Discover it Student Chrome card keeps costs reasonable for students. It has no annual fee or foreign transaction fees, which makes it ideal for those who are planning to study abroad.
For beginners to credit, Discover provides some flexibility, that is, waiving off the first late payment fee (up to $41 afterward). This fee waiver will offer a bit of leniency to those who are still adjusting to credit card payments.
Additionally, Discover doesn’t impose a penalty APR if you miss a payment, which provides extra room for credit building without a sudden spike in interest rates.
Why to Skip the Discover It Student Chrome Card?
While Discover it Student Chrome is a decent option for starting your credit journey, there are other cards in the market that might offer some additional advantages.
If you are looking for more rewards and benefits and are open to strategizing for maximum rewards, then an alternative student card can provide you a greater value.
When it comes to intro APR offers, the Discover it Student Chrome falls below the average duration offered by other best cards in the market. While the common intro APR spans 12 to 21 months, this card’s intro APR on purchases lasts only six months.
Moreover, the 10.99% intro APR on balance transfers (18.24% to 27.24% variable afterward) is relatively low but doesn’t match the more competitive offers available. Although APR offers on student cards are rare, the brief period of this card might limit its usefulness.
If you see an intro APR as an opportunity to carry a balance comfortably, be cautious, as sustaining balances post-intro period can become costly.
While the Discover it Student Chrome card will provide you an accessible credit-building support, it lacks standout features compared to some other cards.
However, if will offers free access to your FICO scorecard and makes a pathway to transition to a non-student card after graduation, it may not offer as a strong credit-building incentive as its counterparts. Some competing cards offer additional benefits such as reviews for automatic credit line increases, contingent on responsible credit behavior.
These benefits can positively impact your credit utilization ratio and enhance your credit score. The absence of such features on the Discover it Student Chrome can be a drawback for students who are new to credit.
are you familiar with the SavorOne Student Cash Rewards Credit Card offered by Capital One? Cash prizes are a terrific perk for students!
Who will be Suitable for the Discover It Student Chrome card?
The Discover it Student Chrome card is a great choice for college students aiming to build their credit while enjoying cash-back rewards. It is suitable for those who often spend on gas and dining out. With a generous 2% cash back on up to $1000 in combined purchases at gas stations and restaurants each quarter, this card caters to student who commutes and who are food enthusiasts. Here are some things you should keep in mind:
- You must be at least 18 years old to apply for a Discover it Student Chrome card.
- You must have a social security number and a valid US address.
- You must have a good credit history or be able to get a consigner.
Discover It Student Chrome Card vs Cashback Card
Both the Discover it Student Chrome and Discover it Student cashback cards are great options for students who don’t want annual fees and a cashback match bonus of $50 when you spend $500 in your first three months. Although they have different structures that cater to different purchasing habits.
With Discover, it Student Chrome card you can earn 2% cash back on gas stations and restaurants up to $1000 in combined purchases in each quarter and you will get 1% cash back on all other purchases.
Whereas with the Discover it Student cashback card you can earn 5% cash back on rotating categories up to $1500 on purchases per quarter and 1% cash back on all other purchases. Note that rotating categories change quarterly and they include gas stations, restaurants, grocery stores, Amazon shopping platform, and more.
If you are a frequent spender on gas and dining, then the Discover it Student Chrome card offers 2% more cash back than the Discover it Student Cash Back card. However, if your spending habits change across the different categories, the Discover it Student Cashback offers 5% cash back in rotating categories. This will help you earn more rewards overall.
Pros and cons of Discover It Student Chrome card
|No annual fee
|Low base rewards rate of 1%
|2% cash-back at restaurants and gas stations
|Caps on bonus rewards
|Cashback matched in the first year
|Limited rewards compared to other student cards
|Ability to freeze/unfreeze card
How well-known is the Cerulean Credit Card? It provides wonderful benefits and incentives. Mine arrived last month.
Is the Discover It Student Chrome Card Worth it for You?
If you are a student looking to build your credit history and enjoy cash-back rewards, then the Discover it Student Chrome card will be a good choice for you.
It has an attractive welcome offer, reasonable ongoing interest rates, and minimal fees making it an excellent starting point for students entering into the world of credit cards.
However, if you are planning a study abroad trip, it is essential to consider Discover’s acceptance rate in the areas you will be going. While the card itself doesn’t impose foreign transaction fees, Discover’s international acceptance rate is slightly lower compared to major networks like Visa and Mastercard. It is always a good idea to check if the card will be widely accepted during your travels.
We think that the Discover it student chrome card can be described in one word: average. While it offers 2% cash back at gas stations and restaurants on up to $1000 in combined purchases each quarter and 1% cash back on other purchases, it falls short compared to similar student cards available out there. However, being average doesn’t mean it is a bad choice. On the positive side, the Discover it Student Chrome card comes with no annual fee and features an unlimited cashback match. Discover will automatically match all the cash back earned at the end of the first year, with no minimum spending or maximum rewards. While it may not be the top choice, earning some rewards is better tan getting none. Keep in mind that there are other cards, including some from Discover itself, which offer more attractive options than this one.
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.
The Discover it Student Chrome card offers several benefits for students, including 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, 1% cash back on all other purchases, and a standout feature called Unlimited Cashback Match, where Discover automatically matches all cash back earned at the end of the first year.
The card is designed to help students build their credit history. It has no annual fee, provides a pathway to transition to a non-student card after graduation, and offers free access to the FICO Scorecard. Additionally, it has a flexible approach for newcomers by waiving the first late payment fee and not imposing a penalty APR for missed payments.
While the card has its merits, it may have a relatively low base rewards rate of 1%, caps on bonus rewards, and limited rewards compared to some other student cards. The intro APR offers on purchases and balance transfers are shorter compared to other cards in the market.
Once you finish school, your Discover student credit card will automatically switch to a comparable card. It’s beneficial to hang on to your student card post-graduation, even if you’re thinking about getting a different one.
when you use it, you get 2% cashback at Gas Stations and Restaurants for up to $1,000 in combined purchases every three months, without having to do anything. Additionally, you earn an unlimited 1% cash back on all your other purchases. The best part is, at the end of your first year, Discover will match all the cash back you’ve earned.
The credit limit for the Discover it Student Chrome card is at least $500. When you’re approved for this card, you’re guaranteed a minimum spending limit of $500. If you have a strong credit history, you might even qualify for a higher limit than that.
Even if the company asks for proof, you can still hold onto your student credit card if you leave school or take a break. Most companies will give you a better credit card with a higher spending limit after you finish school.