Discover Student Credit Card

Get paid for spending and enjoy a fairly low APR with Discover Student Credit Card. Instead of a point system which allows you to redeem earned points for fun prizes, Discover Student offers a cash back system which reimburses you a percentage of what you spent. Earn 5 percent cash back on purchases made at gas stations, home improvement stores, grocery stores, and more. Earn up to 20 percent cash back on purchases made through Discover.com. Although the percentage of cash back is relatively small, you have the ability to use your reward however you like, unlike a point system which locks you into a certain set of prizes.One feature Discover Student offers that we particularly like is the Student Center. This free online education source helps student understand ins and outs of credit. A budget calculator is also available in this section so you can see if what you’re bringing in matches what you’re spending. This tool is great for students who are unfamiliar with money management and budgeting.

APR for Purchase:

Discover did a good job in this section with a relatively low regular Annual Percentage Rate of 13.99-20.99% and a 25-day grace period. APR is the amount you have to pay for using credit after your grace period is up, so a low APR and high grace period are desirable. Discover Student also offers no APR for the first 9 months and no annual fees.

Points for Card Use:

Unlike our number one product, Discover Student gives cash back opposed to points. While we prefer the points system better because they usually rack up quicker, the cash back system can be very rewarding if you use the card enough. Cash back rewards work on percentages. With Discover Student, you get 5 percent cash back on purchases made at all department stores, home improvement stores, gas stations, grocery stores, restaurants and travel. You also get one percent cash back on all other purchases. While this may seem like a small amount, if you use your card to make large purchases, say for instance, tuition, the 1 percent isn’t so bad. Discover Student also makes online shopping all the more rewarding. Card users will get 20 percent cash back on all online purchases made through ShopDiscover. By logging into ShopDiscover you will be able to purchase from an array of online sources including Best Buy, iTunes, JCPenney, Office Depot, Six Flags, North Face, GAP, Foot Locker, and many more.However, this card does not offer cash back for paying your bills on time or getting a good GPA. Cash Back rewards are placed in your account at the end of every month.

Who it is for: 

Many of the aspects of Discover Student are geared toward college students, including the name. Although there is not stipulation requiring you to be enrolled in college, you must be 18 years of age or older to be a card user.