Reviews

Discover it Student Cash Back Review: A Rewarding Introduction to Credit

Discover it Student: Zero fees, rewarding cash back, and a credit-building gateway for students.

Rickie C. Keys, Ph.D., MPH

Mar 23, 2024 — 1 min read

Features

Annual Fee: $0, ensuring students can focus on building credit without extra costs.
APR: 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months, followed by a variable APR of 18.24%-27.24%.
Rewards: Earn 5% cash back in rotating categories each quarter, up to the quarterly maximum when you activate, plus an unlimited 1% back on all other purchases.
Intro Offer: Unlimited Cashback Match from Discover, doubling all the cash back you earn in your first year.

Benefits

Accessible to Students with Limited or No Credit: Designed specifically for students beginning their credit journey.
Generous Cash Back Rewards: Competitively offers 5% back in categories that change quarterly, covering everyday expenses.
Forgiving on the First Late Payment: No fee for your first late payment, easing concerns for newcomers to credit management.
Reports to All Three Major Credit Bureaus: Assists in building a credit history vital for future financial endeavors.
No Foreign Transaction Fees: Ideal for students studying abroad or traveling.

Drawbacks

Rotating Bonus Categories: Requires frequent management.
Limited International Acceptance: This may be inconvenient for travel.
High Ongoing APR: After initial intro periods.

Product Summary

The Discover it® Student Cash Back card stands out amongst student credit cards, offering an exceptional blend of rewards, low fees, and credit-building features. Its introductory APR periods on purchases and balance transfers provide a buffer for students managing large expenses. At the same time, the generous and flexible cash-back rewards program incentivizes smart spending and financial awareness. The card’s accessibility to students with limited or no credit history makes it a foundational tool for establishing a strong credit profile. With the added perks of no annual fee and forgiveness for the first late payment, it’s tailored to mitigate students' typical financial and credit-building hurdles.

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