Discover it® Student Cash Back full review
Check out this outstanding credit card if you want to start establishing credit while earning fantastic benefits.
What do I need to know about the Discover it® Student Cash Back?
Numerous fantastic benefits come with the Discover it® Student Cash Back card.
The card is a terrific method to construct a credit history that will eventually allow you to graduate to more rewarding cards, even while it won’t always offer the same rewards and benefits as cards for people with more established credit profiles.
Discover it Student Cash Back was made for those who wish to earn cash-back rewards while establishing credit. When activated, the card offers 5% cash back on regular purchases made at a variety of locations, including Amazon.com, supermarkets, dining establishments, and gas stations, up to the quarterly maximum.
Additionally, it automatically receives 1% cash back on all other transactions, which is infinite. At the end of your first year as a cardholder, Discover will match the cash back you’ve earned dollar for dollar.
Cardholders can use Discover’s Freeze, an on-off switch for the account if the card is lost or stolen, and they are given free access to their FICO credit score.
Keep reading so you can have a better idea of how this card works
How do the Discover it® Student Cash Back works?
Let’s talk about one of the main characteristics of this card: the rewards and cashback it offers, because it may be tricky for some people
The Discover it® Student Cash Back card offers an unlimited 1% cash-back reward that is automatically earned on all purchases. Cardholders must activate the category in order to qualify for the 5% cash back in quarterly rotating categories with a quarterly cap of $1,500.
About the quarter categories, here is how they are divided:
Q1 (Jan. 1–March 31)
• Grocery stores.
• Fitness clubs and gym memberships.
Q2 (April 1–June 30)
• Gas stations.
Q3 (July 1–Sept. 30)
Q4 (Oct. 1–Dec. 31)
• Digital wallets.
When the first year of card ownership is up, the Discover Cashback Match instantly doubles all points earned, so it would be wise to use up all of your rewards as soon as you can.
The Discover it® Student Cash Back rewards do not expire and can be used to make deposits or statement credits in any amount at any time.
Reward balances are credited to the account upon account closure or after 18 months of inactivity.
How much cashback can you win? The student should receive a total of $296.40 in cash back per year if we assume typical annual expenses of $13,640 and $1,000 spent in each of the rotating areas.
At the end of the first year, as part of Discover’s Cash Back Match, this sum will be doubled.
Discover it® Student Cash Back benefits
High Rewards on Rotating Spending Categories
With the Discover it Student Cash Back card, cardholders can earn up to 5% cash back on regular purchases at various locations each quarter, including Amazon.com, supermarkets, restaurants, gas stations, and when you pay with PayPal. But this card also provides 1% cash back on all other purchases, without restriction.
The first year’s bonus might be substantial with a cash-back match.
The fact that this card will double all the cash back you earn during your first year as a card member is especially valuable because few student credit cards provide one-time bonuses.
Your earning potential for this bonus has no upper bound. Discover will double your $200 cash back rewards to a total of $400.
Introductory 0% APR for Six Months on Purchases
With a six-month introductory 0% APR offer on new purchases, the Discover it Student Cash Back card gives you time to pay off a new laptop or textbooks without worrying about interest fees.
After that introductory rate expires, the variable APR for this card will range from 15.24 to 24.24%.
The Student Cash Back card stands out among other student credit cards because of its 0% APR promotion.
How to apply for the Discover it® Student Cash Back?
So, if you got interested in the Discover it® Student Cash Back, make sure to take a look at our ” how to apply article”