Discover it Student Cash Back

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Discover it student 2020

About

Discover currently offers two credit cards for college students. The more traditional cash reward offer with the Discover it card. This card gives account members up to 5% cash back on different spending categories that rotate every quarter. The Discover Chrome is designed more for the student on the go with rewards for gas and restaurant purchases.

One nice bonus feature for college students is the Good Grade reward, which gives students a $20 statement credit when they hold a 3.0 grade point average for a quarter. The Good Grade reward can only be redeemed once a year and other restrictions may apply.

Benefits

  • 5% cash back on specific purchases during rotating categories throughout the year, capped at $1,500
  • Must register account to participate in cashback bonus categories
  • Earn a $20 statement credit every for having a 3.0 GPA limited to 5 years
  • 1% cash back on all other purchases

Interest Rate

Introductory Rate for New accounts
Purchases: 0% for first 6 months
Balance Transfer: 10.99% for first 6 months and 3% transfer fee
Regular Interest Rate for Purchases and Balance Transfers: 12.99% up to 21.99%
Cash Advance: 24.99%
Minimum Interest Charge: $0.50

Fees

Annual: None
Balance Transfer: Introductory fee: 3%, Regular fee: 5%
Cash Advance: The greater of $10 or 5% of the amount advanced
Late Payment: Up to $40

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