Discover it® Student Cash Back: Everything You Need to Know

The Discover it® Student Cash Back card is a fantastic option for college students looking to earn rewards while managing their finances responsibly. It offers an attractive rewards program, valuable perks, and tools to help students build credit and gain financial independence. With its cash back offers, no annual fee, and a range of student-friendly features, it’s a solid choice for young adults who are just starting out with credit cards. In this guide, we’ll explore everything you need to know about the Discover it® Student Cash Back card, including its key features, benefits, and how to apply.

Key Features of the Discover it® Student Cash Back Card

1. Cash Back Rewards Program

One of the main draws of the Discover it® Student Cash Back card is its lucrative cash back rewards. The card offers 5% cash back on rotating categories each quarter, up to the quarterly maximum, when you activate the offer. These categories change every three months, and they often include popular spending categories like grocery stores, restaurants, gas stations, and Amazon.com.

In addition to the 5% cashback, the card also offers 1% cash back on all other purchases, making it easy to earn rewards on everyday spending. The more you use your card for eligible purchases, the more rewards you earn.

To take full advantage of the 5% rewards, you’ll need to activate the rotating categories every quarter, which can be easily done online or through the Discover mobile app. It’s a great way to maximize your earnings, especially if you plan ahead and take advantage of the categories that match your spending habits.

2. Cash Back Match for New Cardholders

New cardholders of the Discover it® Student Cash Back card can benefit from Discover’s Cashback Match. This offer means that Discover will match all the cash back you’ve earned at the end of your first year as a cardholder. For example, if you earn $200 in cash back during your first year, Discover will match that amount, giving you an additional $200. This is an incredible benefit that effectively doubles your rewards for your first year with the card.

The Cashback Match applies to both the 5% rotating categories and the 1% on all other purchases. This benefit can significantly increase your overall cash back rewards and provide even greater value for your spending.

3. No Annual Fee

The Discover it® Student Cash Back card comes with no annual fee, making it an excellent option for students who are looking to avoid any additional costs while building their credit and earning rewards. This is one of the key benefits of the card, as many other student cards charge annual fees, which can add up over time.

The lack of an annual fee means that all of the cash back you earn goes straight into your pocket, and you can use the card to make purchases without worrying about paying an extra fee each year.

4. Introductory 0% APR on Purchases

For new cardholders, the Discover it® Student Cash Back card offers 0% intro APR on purchases for the first 6 months. This is an excellent feature if you need to make a large purchase or if you want to carry a balance over a short period. After the intro period ends, the APR will vary based on your creditworthiness, but it typically remains competitive.

The 0% APR is an especially useful feature for students who may need some time to pay off purchases, such as textbooks, school supplies, or even personal items. It can help you avoid interest charges for the first six months, making it easier to manage your budget and pay off your balance at your own pace.

5. Student-Friendly Features for Building Credit

The Discover it® Student Cash Back card is an excellent tool for students who want to build their credit history and improve their credit score. Discover reports your account activity to the major credit bureaus, which means that responsible use of the card can help you establish a positive credit history.

In addition to reporting your activity, Discover offers a free FICO® credit score on your monthly statement, allowing you to keep track of your progress as you build your credit. This is a valuable feature for students who are just starting to manage credit, as it gives you a snapshot of your credit score and helps you stay on top of your financial health.

6. No Foreign Transaction Fees

Another benefit of the Discover it® Student Cash Back card is that there are no foreign transaction fees. If you plan to travel abroad for a semester or study abroad program, or even just take a vacation, this card won’t charge you additional fees when making purchases in foreign currencies. Many credit cards charge a foreign transaction fee of 3% or more, but with the Discover it® Student Cash Back, you won’t have to worry about paying extra for purchases made outside of the United States.

7. Security and Protection

Discover also includes a range of security features to protect your card and personal information. The Discover it® Student Cash Back card comes with $0 fraud liability, meaning you won’t be held responsible for unauthorized charges on your card. Discover also monitors your account for suspicious activity, and you can receive instant alerts to notify you of any potential fraud.

Additionally, the card offers purchase protection and extended warranty benefits, which cover eligible purchases made with the card in case they are damaged or stolen. These protections are especially useful for students who are managing their own finances and making significant purchases, such as electronics or textbooks.

How to Apply for the Discover it® Student Cash Back Card

Applying for the Discover it® Student Cash Back card is simple and can be done entirely online. Here’s a step-by-step guide to the application process:

1. Check Your Eligibility

Before applying, it’s important to make sure you meet the eligibility requirements for the Discover it® Student Cash Back card:

• Age: You must be at least 18 years old to apply.
• Income: You will need to provide information about your income, even if you are a student. This can include part-time job earnings, parental support, or any other financial assistance.
• Credit History: While the card is designed for students with limited credit history, it’s still important to have a basic understanding of how credit works.

2. Gather Required Information

To complete the application, you’ll need to have some basic personal information on hand, including:

• Your name, address, phone number, and email address.
• Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
• Information about your income (whether it’s from a job, allowance, or other sources).

3. Complete the Online Application

Visit the Discover website and complete the online application form. The process should only take a few minutes. You’ll need to provide your personal information, income details, and any other required information.

4. Review and Submit Your Application

Once you’ve filled out the application form, review all the information for accuracy. If everything looks good, submit your application.

5. Wait for Approval

After submitting your application, you should receive an approval decision in just a few minutes. If approved, you’ll receive your Discover it® Student Cash Back card in the mail within 7-10 business days.

6. Activate Your Card

Once you receive your card, activate it by following the instructions provided. You can do this online or by calling Discover’s customer service number. Once activated, you’re ready to start earning cash back and building your credit!

Final Thoughts

The Discover it® Student Cash Back card is an excellent choice for students who want to earn rewards while building credit. With its 5% cash back on rotating categories, no annual fee, and Cashback Match feature, it offers a great value for students who are just starting to manage their finances.

In addition to its generous rewards, the card comes with student-friendly features like the ability to track your credit score and access valuable security protections. If you’re a college student looking to earn rewards, improve your credit, and enjoy the benefits of a simple, easy-to-use credit card, the Discover it® Student Cash Back card is worth considering.

To apply, visit the Discover website today, and take the first step toward building your financial future with the Discover it® Student Cash Back card.