If you’re a student looking to get your finances in order, the Discover it Student Cash Back card might just be what you need. With rewards for spending money responsibly and cashback offers tailored towards college students, this credit card has some impressive features that can help make life easier – both during a long semester at school and beyond. Read on to learn all about the fees associated with the Discover it® Student Cash Back Card, discover how it can help establish good financial habits while also getting rewarded for making responsible purchases, and find out if this card is right for you. Let us begin with our Discover it Student Cash Back review.
What is Discover it Student Cash Back Card?
The Discover it® Student Cash Back card is specially made for college students. Here, other student cards come with a small credit limit and a long list of disqualifications, but the Discover card is different.
You can easily get the Discover Student Cash Back card if you are a college student with a bad credit score or zero credit history. All you need to have is your student ID. Initially, the credit limit is low, but as you maintain your credit card and pay the bills on time for a few months continuously, you can apply for a credit limit increase.
It gives you up to a 10% discount for the first 12 months on all your eligible purchases, which becomes 5% by the second year. Even if your purchase is not eligible for this cash back, you will get 1% cash back on all your purchases anyways.
- No late fee on your first late payment
- Zero fees on foreign transactions
- Higher cash back in the first year
- 1% to 5% cash back on eligible purchases
- Zero annual fees
- Great for building credit
- Good rewards
- Helps in saving money
- Low maintenance card
- As a welcome offer, 0.00% APR for 6 initial months.
- Up to 10% cash back on eligible purchases for the first year.
- Up to 5% cash back from the second year.
- Zero liability in case of fraud or identity theft.
- You can watch your credit score for free.
- In case you lose your card, easy card replacement without any fee.
- You can ask for account blocking from your phone if you lose your card.
Discover it Student Cash Back Card Features
Now in this Discover Student Cash Back Card review, we will discuss the features of the Discover it Student Cash Back card in detail.
The interest rate of the Discover Student card is low compared to the other student cards, but it can still be high for some students. You get 0.00% APR for the first 6 months but after that, you will have to pay an APR of 15.99% to 24.99%.
- Regular APR: 15.99% to 24.99% (Variable)
- Introductory APR: 0.00% (for 6 initial months)
- Balance Transfer APR: 15.99% to 24.99% (Variable)
- Cash Advance APR: 24.99% (Variable)
- Lowest Interest Charge: $0.50
The good part is, it is a card with no annual fee and there is no monthly maintenance fee on this student card. Other fees like late fees and cash advance fees are also reasonable.
- Annual Fee: $0.00
- Late Fee: Up to $40.00
- Balance Transfer Fee: 5% of the balance transfer
- Cash Advance Fee: 5% or $10, whichever is greater
- Foreign Transaction Fee: $0.00
Discover it Student Cash Back card offers a maximum grace period of 25 days. If a student does not pay the credit card bill then he or she will have to pay a late fee of up to $40.00. For the month of February, this grace period decreases and becomes 23 days. In case you do not pay the bill on time, you will have to pay for the interest on purchases made in the grace period.
One more perk of this card is that it gives you a cash advance. But it is not free. You will have to pay a fee of $10 or 5% of the requested cash advance, whichever is higher.
Do you know why this card is perfect for students? Because it gives you tons of rewards and cash back. You get up to 10% cash back on eligible purchases and 2% cash back on the purchases for the first 12 months.
From the second year, you get up to 5% cash back on your daily purchases. And the best part is, there is no limit on these rewards. This 5% bonus is rotatory so every month, this reward is on a different thing. You can check it on the official website of Discover it®.
The credit limit of the Discover Student Cash Back credit card depends on your credit score. The minimum credit limit for a Discover Card is $500, so if you have a bad credit score or no credit history then you will get this card with a credit limit of $500.
But as you improve your credit score, you can demand a credit limit increase. The card comes with a maximum credit limit of $3,000.
Credit Limit Increase
You can call on the Discover it® customer care number or go on their official website and ask for a credit limit increase. Once they receive your application, they will conduct an inquiry about your credit score and how well you maintain your card. If they are satisfied, they will increase your credit limit.
If you are a college student and a new credit card holder then the Discover it® Student Cash Back Card is just perfect for you. This card helps you build your credit from scratch. You can also check your credit score for free through this card.
It does the immediate reporting of your credit activity to all three major credit bureaus including TransUnion, Equifax, and Experian.
How Can I Get the Discover it® Student Cash Back Card?
If you are a college student and want to build good credit since your college days then you should definitely go with this card. In order to get this card, you just need to have your college student ID card and you are good to go.
Required Credit Score
As we told you earlier, there is no minimum credit score for this card. You can get this card even with a bad credit score or no credit history at all. Though it is recommended to have a good credit score because if your credit score is low or zero, then your credit limit will be just $500.
To get the Discover it Student Cash Back Card, you need to have your college Student ID. You can call on Discover’s customer care number or go to their official website and get the application form. On the application form, you will have to fill in all your required details and attach your Student ID card and send the application.
Once they receive your student credit card application, they will conduct a credit inquiry. Depending upon your credit score, they will offer you a credit limit. If you are satisfied with that credit limit, you can seal the deal. Once you do it, you will receive the credit card between 10 to 15 days.
Whether the Discover it Student Cash Back Card is Good for Me?
If you fall under any of the following categories, then the Discover It Student card is an ideal choice for you.
1. US Students
If you are a US-based student, studying in the USA then you should definitely go with this student credit card. It gives you good rewards and benefits, the only downfall is, foreign students studying in the USA or USA students studying abroad cannot apply for this card.
2. You Are a Student with No Credit History
Where other student cards have a required minimum credit score, there is no minimum credit score for Discover it® student cards. You do not need a credit score to get this credit card, and it helps you to build your credit score.
Other Alternative Options
If you are a student and want to consider some other student cards as well then you can consider the student cards given below.
1. Discover it® Student Chrome Card
Our Rating: 4.4/5
The Discover it Student Chrome Card is pretty similar to the Discover it Student Cash Back Card. It only differs in terms of rewards. Where the Discover cash back card offers you 1% cash back on certain purchases, the Student Chrome Card offers 2 cash back on the same purchases. Though you will need a better credit score to own this Student Chrome Card. It is a good card for students who own a card and go out very frequently.
2. Deserve EDU MasterCard
Our Rating: 3.9/5
Deserve EDU MasterCard gives you 1% cash back on all your eligible purchases and has no annual fee or foreign transaction fee. The best part is, even foreign students studying in the USA can apply for this card. Even if you have no credit history, you can get this card. The only downfall is, it does not allow you to get cash advances, which is very important for students.
3. Capital One Journey Student Credit Card
Our Rating: 4.5/5
This student card gets you 1.25% cash back on all eligible purchases. And the best part is, you get extra rewards and bonuses for paying your credit card bills on time. It offers zero liability in case of fraud and identity theft. Though the interest is a bit high as the regular APR is 28.49% and there is no intro APR.
We would like to give the Discover it® Student Cash Back card an overall rating of 4.6/5.
While it is a great option for US-based students, it should also be available for foreign students. But the other things like rewards, benefits, and cashback are really good. And the main highlight is, this card comes from a reputed credit card company “Discover it” so there are no chances of fraud with the new credit card holders.
FAQs: Frequently Asked Questions
Q1. What credit score do you need for Discover it Student Cash Back?
There is no minimum credit score requirement for Discover It Student Cash Back credit cards. You can get this credit card with a bad credit score or even with no credit history at all. Though if you have zero credit history then your initial credit limit will be just $500.
Q2. Do you have to be a student to get the Discover it® Student Cash Back?
Yes. You can only get this credit card if you are a student. You will have to submit your student ID card with the credit card application in order to get this card and Discover It will verify your student ID first and then will move forward with the further process. Also, to get this card, you have to be a USA-based student living in the USA. If you are a USA student studying abroad or a foreign student studying in the USA, then you would not be able to apply for this card.
Q3. Is it hard to get the Discover it Student Cash Back card?
No. In fact, it is very easy to get this credit card. You do not need to have a credit history. You just need a student ID card and you can apply for this card. The only thing is, you have to be a US citizen, studying in a US college or university.
Q4. How long does it take to get approved for the Discover it Student Cash Back?
It usually takes just 10-15 days for the approval process of Discover it Student Credit card.
Q5. What information is needed to apply for Discover it® Student Cash Back?
You only need to give your basic information like name, address, age, and bank details to apply for this card. But the most important thing is your Student ID card. If you do not have a valid student ID card then your credit card application will be declined.
Q6. Where can I use my Discover it Student Cash Back card?
You can use the Discover It student credit card for all your basic needs like fuel, dining, groceries, etc. You can also get up to 10% cash back on the eligible purchases for the first year and then up to 5% cash back from the second year on all the eligible purchases.