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Discover it® Student Cash Back is a credit card designed for students alone. It is one of the best products for those in higher institutions in the US. It is ideal for clients starting their credit journey and wish to earn cashback rewards. Customers are liable to claim a 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases. Also, there is a match bonus on all cash backs after your first year.
The card is widely accepted across the US, and it offers a series of benefits, including good grade rewards for students with a Cgpa of 3.0 and higher. These clients are liable to claim a $20 statement credit. You have the chance to freeze your account in emergencies like theft, to avoid unauthorized transactions.
You can increase your credit line after graduation based on creditworthiness and continue using the card post-graduation, with the same rewards and benefits. Discover has a mobile application downloadable on the Apple store for iPhone users and the google play store for android. Clients can manage their accounts effectively via the software and redeem cash backs.
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Cashback Rewards
- Match First Year Bonus
CONS
- No International Students
- Cap on High Cashback
APR
17.74% - 26.74% Variable APR
Annual Fee
$0
Balance Transfer Fee
%5
Credit Requirements
No Credit – Poor
Card & Issuer Reputation
- 3.9/5 on
Advantages
Let’s take a look at the advantages of this card and see if it’s the right one for your wallet or not.
- No Credit Score
Discover It Student Cash Back does not require a minimum credit score or your credit history. The focus is on your educational qualification, personal and financial information. It is ideal for a first-time credit card.
- Exciting rewards
This product offers one of the best features in a student's credit card. There are rotating bonuses at the end of each quarter of the year for different purchase categories. Customers are liable to 5% cash back on activated rotating category purchases (up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases. There is a good grade reward of $20 statement credits per year up to five years on campus.
- Freeze Your Account
You have the chance to freeze your account, which means to halt transactions. This feature activates within seconds and may help your card is lost or stolen to prevent fraudulent activities. However, the freeze option does not interfere with already programmed transactions like recurring payments or delayed purchases.
- Average APR
Discover It Student Cash Back has a variable APR of 17.74% – 26.74% Variable APR, which falls within most student cards' average rate.
- Introductory Rates
New cardholders are introduced to a 0% intro rate on all transactions and a 10.99% intro rate for balance transfers, all within the initial six months of joining. This feature may give customers the time to repay school-related debts and make some financial adjustments. Also, it eases them into paying the regular rates.
- Track Your Account
The mobile app allows you to oversee all transactions in your account conveniently and within your home's comfort. The software will enable you to make payments, purchases and converse with customer service representatives. You will also get notifications anytime your Social Security Number has been compromised and used for unauthorized dealings. Discover It Student Cash Back protects customer information by monitoring the dark web and guarding against breaches.
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Disadvantages
Let’s take a look at the disadvantages of this credit card and see if it’s the right one for your wallet or not.
- Cap on Cashback Rewards
Cardholders can enjoy 5% cash back to a total of $1,500 each quarter.
- No International Students
A few student cards are open to foreigners, so; it is not much of a surprise that Discover It Student Cash Back isn't one of them. Here, clients must register as US citizens with their Social Security Numbers. The card is operational everywhere in America.
- Limited Use outside the US
The card has no foreign transaction fees; however, it can't be used in most places outside the US. It is not advisable to travel with this product as it may not be accessible in foreign locations.
How To Apply For Discover It Student Cash Back Card?
- 1.
Visit the Discover It Student Cash Back website and click on “Apply Now” to start the process.
- 2.
Pick a design for your product and scroll down to fill in your personal information. You will fill in your name, date of birth, address, phone number, e-mail, social security number (SSN), citizenship, year in college, graduating year, gross income, rent and bank accounts.
- 3.
Scroll down to fill in all your details and click “Next” to continue.
- 4.
Read all the terms and conditions, including interest rates and charges. Scroll down and tick both boxes if you agree. Proceed by clicking “Submit.”
- 5.
Please be patient. You will be requested to wait for a minute or less – please keep the site open while waiting. Once the sixty seconds countdown is over, you will be given a phone number and a reference number. Follow the instructions and place a call to complete your order.
Is the Discover it® Student Cash Back Right for You?
Discover It Student Cash Back is ideal for students with limited or no credit history. The introductory rates and average APR for student cards make it a good starting point for first-timers. Rotating bonuses at the end of each quarter, all year round, require students to enroll before claiming them.
Compare The Alternatives
There are more cards to build credit with – here are some good alternatives to the Destiny card:
|
|
| |
|---|---|---|---|
Capital One Secured | Citi Secured | Discover It Secured | |
Annual Fee | $0
| $0
| $0
|
Rewards |
None
None
|
None
None
|
1-2%
2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and unlimited 1% cash back on all other purchases
|
Welcome bonus |
None
None
|
None
None
|
Match Bonus
Discover automatically matches the cash back you've earned at the end of your first year, no limits
|
Foreign Transaction Fee | Unknown
| 3%
| 3%
|
Purchase APR | 29.99% (Variable)
| 26.74% (Variable)
| 27.74% (Variable)
|
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