Discover it® for Student Card – The Discover Student Credit Card is Ideal for College Students
Most financial advisers will agree that students should establish sound financial discipline while they are attending college. Obtaining a credit card can form a crucial part of that training. The Discover Student Credit Card allows a student to establish credit for the first time. Building good credit can help establish a good personal finance pattern for the future.
True, some will argue that a credit card can encourage a student to build up high debt levels accompanied by high-interest rates. But it is also true that sooner or later everyone with a regular income is likely to obtain a credit card and use it as part of their everyday finances. Learning how to use a credit card responsibly, therefore, can be seen in the context of a good financial education. Doing so at college is a good place to start.
Also, responsible use of a credit card will help students build a good credit rating. Building good credit when having no credit will help young adults considerably in the future.
Selecting the most suitable Rewards Credit Card for College Students
When they enter college life, it is best if students obtain only one credit card. Charging relatively small amounts on each of multiple cards can cause a busy student to lose track of the overall total being charged on all the cards. That total can add up to a significant amount. Also, keeping track of many cards can be time-consuming and confusing. Also, the chance of missing payment deadlines when many cards are involved is enhanced.
Students should select a card that will encourage responsible use and help to build credit as a student. A good student card provides generous rewards, free of fees, and even encourages students to earn good grades. Although many credit cards can offer some of these benefits, one that includes them all is the Discover student credit card. By using the Discover it card students will be able to learn that correctly using a credit card can not only be helpful in budgeting and personal finance but can also be rewarding. Indeed, this Discover card is a top rewards card for college students.
Here’s a look at ways in which the Discover student card can help students manage their financial accounts. At the same time enabling students to develop sound credit card use and avoid getting the wrong credit card.
Discover Student Credit Card Benefits – Discover it®
1) Cash back for good grades
The Discover Student Credit Card rewards those students who earn good grades. It does so by giving $20 cash back for each school year in which a student’s GPA is 3.0 or higher. The Discover it Student card does so for up to five years. Although the amount is relatively small, it can serve as an incentive by, offering a gift for good work.
2) Discover Student Credit Card has no annual fee
There is no annual fee with the Discover Student Credit Card. When a card imposes an annual fee, it immediately makes the card less rewarding. The annual fee lessens the value of rewards that the user receives on the card. This imposes a cost even should the card be used only a few times a month.
The Discover Student credit card carries no annual fee. This means that it enables students to use the card as often or as seldom as they like.
3) Great rewards
The Discover student card is a reward credit card and offers rewards that are especially useful to students. Not only can the rewards run at 5 percent cash back, but they also are in rotating categories that fit a student’s lifestyle.
The categories apply for three months at a time. In the first quarter, students can earn 5 percent cash back on wholesale clubs, gas stations, and ground transportation. Whether students use their cars on a regular basis or use local bus or train services, they will still be earning 5 percent cash back over those three months.
During the year, the categories switch to restaurants, shopping at home improvement stores, and purchases from Amazon. All of the categories covered by this rewards card for college students are in categories that they would usually use anyway. There is thus no temptation to use the Discover student credit card for items that a student normally would not buy.
4) Cash back match
Over the first year of its use, the Discover student card will add up all the cash back awards that the student has received over the year and match the total. This benefit greatly enhances the amount of money that a student can receive from the use of the Discover student credit card.
5) Discover Cashback Rewards never expire
As long as students have the Discover it Student card, they will retain any rewards that they gather.
This benefit provided by the Discover student card means that students can accumulate their cash back rewards over time. Students can wait to buy a particular item that they may need.
6) Purchase protection
The Discover it credit card offers a variety of protections for its users. These protections are extended warranties, return guarantees and price protection.
7) Freeze-it switch
Should students armed with a Discover student card find that they are spending too much on the card, they can turn it off. Using the “freeze-it switch, effectively” and cut the temptation to charge their Discover it credit card when their charges are accumulating too quickly.
8) Zero interest for six months
A student might have the need to buy books, dorm room requirements, and other non-recurring items. This expense can consume a sizable chunk of their available cash resources at the start of college life.
The Discover Student Credit Card enables students to charge these items to their Discover card. College students can pay them off in up to six months without interest.
9) No foreign exchange fees
Should a student wish to travel to another country, the Discover student credit card will help them by not charging a foreign currency transaction fee. Such fees can run up to 3 percent or more. This can make a substantial difference in the costs incurred on travel.
10) Discover provides helpful customer service
The customer service that comes with the Discover student credit card is helpful and based in the United States. It will help students through any problems they might have with the card.
Overall the Discover it® for Student Card is a good card for students
The major drawback that counts against the Discover credit card is that it is less widely available than other cards. Although all major outlets take the card, smaller ones might not do so. But for students who shop largely at bigger stores and online, this factor could be of lesser importance and will likely be outweighed by the benefits.
Overall, the Discover it Student credit card is a good choice for students who use a credit card responsibly. This student credit card helps to build good credit and to earn rewards to gain a little more income. Read the terms and conditions carefully in order not to get rejected for this student credit card.
Three other college student credit cards to consider are:
Citi ThankYou® Preferred Credit Card for College Students
Journey® Student Credit Card from Capital One®
Deserve Edu Mastercard
CreditFast has reviewed the best student credit cards on the market. Some of the credit card offers are from our advertising partners. CreditFast has objectively reviewed the features and benefits of each college credit card. We have chosen student credit card offers based on our editor’s recommendations.
Advertiser Disclosure for the CreditFast website – CreditFast.com, provides information about the best credit card applications, as well as other financial products and services. Our goal is to provide you with fair, balanced reviews. Some credit offers that appear on our website are from companies from which CreditFast receives compensation, and some are not.
- Milestone Credit Card Review – Milestone Mastercard® - February 21, 2023
- Destiny Mastercard Review and Pre-Qualification - October 7, 2020
- Capital One QuicksilverOne Rewards For Fair Credit - September 24, 2020