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The Discover it Student Cash Back Card offers many great benefits. While the Discover it® Student Cash Back Card doesn’t necessarily offer the same rewards and benefits as a more established credit file card, it’s a great way to build a financial reputation, allowing for more rewards cards after graduation.

The Discover it® Student Cash Back Card offers some nifty rewards as revenue increases in quarterly rotating categories. Not so good is the $1,500 quarterly cap. These reward categories must be activated and have some additional restrictions—in fact, “online shopping” can only refer to Amazon.com, Walmart.com, or Target.com. After the Rewards Tier expires, any additional purchases will count in the same way as any other purchase: Unlimited 1% Cash Back.

With Discover’s cashback matching, all earned cashback is matched at the end of the first year, so with the double reward yield and good leverage in the first year, the cashback rewards may not be so shabby.

An important thing to keep in mind when buying a credit card as a student looking to study abroad is that while the Discover it® Student Cash Back Card has no foreign transaction fees, Discover may not be as widely available outside the U.S. as other major card issuers. . So it might be wise to look for another one.

На пръв поглед

  • Great way to build a student credit history
  • 5% Limited Quarterly Rotating Cash Back Category on Signup
  • 1% Unlimited Cash Back on All Purchase
  • Purchased introductory APR
  • No annual fee.

Компенсация

Печелете награди

The 1% unlimited cash back bonus offered on the Discover it® Student Cash Back Card will automatically be credited to all purchases. To receive 5% cash back on quarterly rotating tiers up to $1,500 per quarter, cardholders must activate the tier.

The Discover Cashback Match automatically doubles any rewards earned at the end of the first year, so it’s wise to maximize your rewards each quarter as much as possible during your first year with the card.

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Осребряване на награди

Rewards earned with the Discover it® Student Cash Back Card can be redeemed for a statement or deposit of any amount at any time and never expire. Any remaining Rewards Points will be refunded to the account if the account is closed or after 18 months of inactivity.

Потенциал за възнаграждение

To determine the reward potential of the Discover it® Student Cash Back Card, our consultants used a number of reputable sources to determine what a typical college student would spend over the course of a year.

Assuming a typical annual spend of $13,640 and students spending $1,000 in each rotating category, we can assume that students will receive a total of $296.40 in cash back per year. That amount doubles at the end of the first year as part of the Discover cashback contest.

0% промоционална цена

The Discover it® Student Cash Back Card offers 0% introductory APR on purchases within 6 months, after which a standard variable APR of 13.24% – 22.24% applies based on credit history.

Още предимства на картата

  • Choice of Card Designs: Choose from a variety of designs
  • Text Notifications: Receive notifications when your account is updated.
  • FICO Scores: Cardholders can earn free FICO Scores through Discover.
  • Social Security Number Warning: After account registration, Discover scans the dark web for identity theft risks.
  • Mobile App: Access rewards and purchase tracking through the Discover mobile app.
  • Freeze it: Track stolen or lost cards through the app.

Красиво отпечатано

Разходи за лихви

Regular APR: 13.24% – 22.24% variable

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Purchase Introduction APR: 0% for 6 months

Introducing Balance Transfer APR: 10.99% for 6 months

цена

  • Годишна такса: $0
  • Balance transfer fees: 3% initiation fee for balance transfers, up to 5% fee for future balance transfers (see terms and conditions)*
  • Cash Advances: $10 or 5% of the amount of each cash advance, whichever is greater.
  • Foreign Purchase Transactions: None.

ВИЖТЕ СЪЩО!

Как се подреждат картите

Discover it® Student Cash Back and Discover it® Student chrome

A possible alternative to the Discover it® Student Cash Back Card is the Discover it® Student Chrome Card, which replaces the active 5% rotating quarterly category and earns 2% cash back at gas stations and restaurants on total purchases up to $1,000 per quarter . You’ll also automatically get unlimited 1% cash back on all other purchases.

While the Discover it® Student Cash Back Card rewards easily outperform those with the Discover it® Student Chrome Card when the maximum is reached, occasional spending in fairly specific and limited quarterly categories is unlikely to earn the maximum, so weigh Those who carefully consider the bonus options (and the convenience they bring) are important when choosing between these cards.

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If you spend $6,000 in certain categories, the Discover it® Student Cash Back category can generate up to $300 per year in the Rotating Cash Back category, and the 2% Cash Back category on the Discover it® Student Chrome category can generate up to $80 Cashback is within one year.

Aside from the different cashback programs, the cards are otherwise very similar.

Discover it® Student Cash Back and Chase Freedom® Student Credit Card

For those who don’t want or see the value of the 5% rotating category of the Discover it® Student Cash Back Card, the Chase Freedom Student Credit Card offers many of the same benefits.

With the Chase Freedom Student Card Welcome Bonus, a $50 bonus on your first purchase within the first 3 months of account opening, one thing to consider is the unlimited cash back for Discover it® students for the first year or beyond The cash back contest is better than the welcome bonus offered on the Chase Liberty Student Card. For those planning to spend more than $5,000 in their first year, the Discover it® Student Cash Back Card will do better with only 1% unlimited cash back—if you factor in the 5% cap on quarterly category rewards , the effect will be better.

While the Chase Freedom student card does have international transaction fees, it does have a number of other strong qualifying bonuses, like 4% extra cash back on qualifying Lyft rides through March 2022, or DoorDash’s DashPass discount. The Discover it® Student Cash Back Card is more likely to yield better overall results, but as college students learn when they start reading the Student Agreement, it’s always a good idea to read the fine print before agreeing to anything.

Discover it® Student Cash Back and Bank of America® Travel Rewards Student Credit Card

The Bank of America Travel Rewards Student Credit Card is a great card for students planning to study abroad or travel, but it’s also a great option overall. With this card, you can earn 1.5 points per dollar on every purchase, anywhere, anytime, and the points never expire.

At the cash equivalent of 1 cent per point, the Bank of America Travel Rewards Student Card’s Unlimited Points Potential requires spending in excess of $20,000 per year to receive the maximum earnable reward from the Discover it for Student Rotating 5% Rewards category. beyond. For most students, this type of volume is unlikely.

The real benefit of the Bank of America Student Travel Rewards Card, beyond its simplicity, is that it is widely accepted internationally as a Visa card, and there are no international transaction fees. The card also offers a welcome bonus: 25,000 Online Rewards points after you spend at least $1,000 in purchases within the first 90 days of account opening. This may exceed the value of the cash back rewards a typical first-year student would receive with the Discover it® Student Cash Back Card.

Тази карта подходяща ли е за вас?

With a competitive cash back rate, some of the shortcomings of the Discover it® Student Cash Back Card don’t hold them back too much. However, the card may not be suitable for students studying abroad or those who don’t want to invest in a somewhat complicated system of cash-back rewards.

Otherwise, the Discover it® Student Cash Back Card provides a great way for students to build stronger credit and experience cash back rewards and introductory APRs for purchases and other card features while learning about credit cards, spending, and informing personal finances healthy.

ВИЖТЕ СЪЩО!

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