If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
Many student credit cards are light on perks, but that's not the case with the Discover it® Student Cash Back. It offers big bonus opportunities and useful tools that can help you build your credit. Learn more about what it has to offer in our detailed Discover it® Student Cash Back review.
Fair/New to Credit Under(669)
Intro APR
Purchases: 0%, 6 months
Balance Transfers: 10.99%, 6 months
Regular APR
18.24% - 27.24% Variable APR
Rewards 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically
1% - 5% Cashback
Annual Fee
$0
Welcome Offer N/A
Discover will match all the cash back you’ve earned at the end of your first year.
Student credit cards are sometimes light on perks, but this Discover one might surprise you. You can earn 5% cash back on up to $1,500 of spending in rotating bonus categories -- just opt in every quarter. And earning 1% back on other purchases plus an innovative Unlimited Cashback Match welcome bonus makes this one worth considering for college students.
This credit card is a good fit for: Students who want to earn cash back and build credit, without paying any unnecessary fees.
This is one of the most feature-packed student credit cards we've seen.
With the Discover it® Student Cash Back, you earn a 5% Cashback Bonus® on everyday purchases in rotating categories each quarter like grocery stores, restaurants, and gas stations, up to the quarterly maximum of $1,500 on purchases and when you activate. Other eligible purchases earn 1% cash back.
This is a fantastic rate that's competitive with some of the top cash back cards. Just make sure to activate your bonus categories every quarter to earn the bonus rate of 5%.
Discover will match all the cash back you’ve earned at the end of your first year. For example, if you earn $200 in cash back during the first year, Discover will reward you with another $200. There's no maximum amount, so you can earn quite a bit of cash back this way.
SEE MORE: Best Credit Card Sign-Up Bonuses
Some credit cards charge lots of extra fees. Fortunately, Discover credit cards don't. Here's how you save on fees with the Discover it® Student Cash Back:
Want to pay off something expensive -- like a semester's worth of books -- without costly interest charges? This Discover card has a 0% intro APR on purchases lasting 6 months. The go-to 18.24% - 27.24% Variable APR applies after the intro period. Here are a few things to keep in mind with this feature:
RELATED: How Credit Card Interest Works
As a Discover cardholder, you have access to its Credit Scorecard tool. This is available through the Discover mobile app and online. It gives you a detailed look at your FICO® Score, as well as the factors that are helping and hurting it.
This is a helpful feature for anyone, but especially those who are building credit for the first time. It's important to know your FICO® Score, because this is the type of credit score that's most widely used by lenders. Discover will also show you what you can do to improve it.
LEARN MORE: How to Establish Credit for the First Time
Identity theft is a common financial crime. Discover offers tools that can help you catch it. When you open a Discover card, you can choose to activate the following alerts:
There aren't any major issues with the Discover it® Student Cash Back credit card, but there's one drawback worth mentioning.
The hard part with rotating bonus categories is that there aren't any areas where you can always earn more cash back throughout the year. For example, if you usually spend a lot on gas and groceries, you might rather have a card that earns more in those categories year-round.
With this card, one quarter you may luck out with bonus categories where you have high spending, earning you lots of rewards. The next quarter, you might end up with bonus categories in which you barely spend anything, and most of your purchases will earn you 1% back.
There's no minimum credit score needed to get the Discover it® Student Cash Back. Since it's a student credit card, you can qualify for it with no credit history.
MORE TOP PICKS: Best Student Credit Cards
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
---|---|---|---|---|---|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
20,000 ThankYou® Points Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. | Up to 2% cash back 2% cash back: 1% when you buy plus 1% as you pay |
Intro: N/A Purchases: N/A Balance Transfers: 0%, 18 months Regular: 19.24% - 29.24% (Variable) |
||
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Discover will match all the cash back you've earned at the end of your first year. N/A | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 28.24% Variable APR |
||
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
TIP
When looking for the best student credit card, the most important features are no annual fee, free credit score tracking, and good customer service. That way, the cardholder has a secure way to pay and build their credit, without adding any unnecessary bills to their budget. Fortunately, you can find student cards with that and an array of other features, such as sign-up bonuses and cash back rewards.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
You're looking for a credit card to use during college and beyond. To be honest, the Discover it® Student Cash Back is simply one of the best credit cards for students. It's one I've recommended to my own younger family members. In particular, you'll probably love it if:
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
The minimum starting credit limit for the Discover it® Student Cash Back is $500. Since this is a student credit card, many cardholders start out with lower credit limits of under $2,000. It is possible to get a higher limit, either starting out or after using the card, with some cardholders reporting limits of over $25,000. When your application is approved, Discover bases your credit limit on your income and creditworthiness.
No, the Discover it® Student Cash Back doesn't deposit cash back automatically. If you want to set up automatic cash back redemptions, you can, but only as a statement credit on your credit card bill every month. If you want to deposit it to a bank account, you need to do it manually. You can redeem your cash back any time and for any amount through your online account.
After you graduate from college, your Discover it® Student Cash Back becomes a standard credit card. You'll still keep the same cash back program and card design. Discover doesn't allow product changes from one card to another at this time, but you could apply for another Discover credit card if you want a new one.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The Motley Fool has no position in any of the stocks mentioned.