Discover it® for Students Card Review – 5% Cash Back on Rotating Categories

Written by promotiondept

November 12, 2018

Discover it® for Students rd Review – 5% sh Back on Rotng tegories

Discover it® for Students is a popular student credit card with a solid cash back rewards program and some nice value-added benefits for current college attendees. With the same baseline 1% sh back earnings and 5% sh back in quarterly rotng tegories (subject to a $1,500 quarterly spending limit), very similar to the flagship Discover it rd. Fellow Discover rewards rds include Discover it Chrome and Discover it Chrome for Students, as well as Discover it Miles, a travel rewards rd.

Discover it for Students competes with a number of other student credit rds, including Capital One Journey for Students, Upromise Masterrd, and Citi ThankYou Preferred Card for College Students.

On r first rdmember anniversary, Discover automlly doubles all the sh back earned during the previous 12 months, with no restrictions or exclusions. For instance, if earn $100 sh back in r first year, get a $100 bonus – boosting r total sh back earnings to $200.

Discover it for Students earns 5% sh back on select quarterly rotng tegories, such as restaurants, department stores, and gas stons. Quarters begin January 1st, April 1st, July 1st, and October 1st. The 5% sh back benefit is pped at $1,500 in spending across all rotng tegories in a given quarter. Once pass that limit, any additional purchases in the rotng tegories earn 1% sh back, with no ps or restrictions. All other purchases earn an unlimited 1% sh back, as well. Keep in mind that need to manually activate r 5% sh back tegories each quarter, either online or by lling Discover. Once activate, earnings are retroactive to the beginning of the quarter.

n redeem r accumulated sh back rewards for statement credits, pay-with-points at, and k account deposits in any amount, at any time. n also redeem for gift rds, starting at a $20 minimum.

For every year maintain a 3.0 GPA or better, ’re entitled to a $20 Good Grade Bonus. The bonus functions as regular sh back and n be redeemed in the same fashion as sh back earned through purchases. To earn the bonus, need to formally apply at and provide evidence (such as transcripts) of r grades. r account must be in good ing when apply. This benefit is pped at 5 years, even if remain in school for longer.

Discover’s Freeze It feature lets freeze r account to all users (including rself) from any Internet-connected device. Once frozen, no one n use r rd to make new purchases or sh advances, though previously scheduled payments and automc bills continue to process as normal, and any unpaid balances continue to accrue interest. Freeze It is intended to prevent unauthorized rd use when suspect r rd has been stolen or r account has otherwise been compromised. Once the nger recedes, n unfreeze r account and continue to use the same rd (if not lost), rather than waiting to get a new one in the mail.

Discover gives you a free FICO credit score with every monthly paper or electronic statement. n also get r FICO score online at any time.

Discover it for Students comes with a six-month 0% introductory purchase APR and a six-month 10.99% balance transfer APR. To qualify for the balance transfer deal, transfers must be made by the 10th y of the third month after account opening. For instance, accounts opened in March have until June 10th to make transfers.

There is no annual fee or foreign transaction fee. Balance transfers always cost a flat 3% of the transferred amount, and sh advances cost the greater of $10 or 5%. There is no fee for r first late payment, but subsequent late payments cost $35. Returned payments always cost $35.

This rd requires fair cred n have a spotty credit history due to limited prior credit usage, andor some blemishes on r credit report, and still be approved.

Student credit rds like Discover it® for Students are great credit-building tools for nger folks who have spotty or nonexistent cred By using r rd responsibly and making timely payments on any balances accumulate, demonstrate to future creditors that ’re a responsible consumer while building your credit history.

Over time, ’re likely to be approved for higher spending limits and become eligible for credit rds with more generous rewards. And, like many of life’s lasting friendships and pursuits, it starts in college.

Discover it® for Students is a rd for students who wish to build their credit, get financial recognition for their ademic achievements, and earn sh back rewards on every single purchase they make. With rotng spending tegories and a 1% base sh back rate, ideal for a wide range of spending needs, though the 5% tegory spending limit means not the best option for heavier spenders. If prefer lots of fringe benefits, don’t like the manual activon requirement, or have poor credit, this probably isn’t the rd for .

This rd’s generous sh back rewards, first-year sh back bonus, flexible redemption options, rewards for good ademic performance, and relvely low fees are all nice perks. The lack of a signup bonus, minimal fringe benefits, and manual activon requirement all hurt Overall, a strong rd for lots of different types of students.

Editorial Note: The editorial content on this page is not provided by any k, credit rd issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions eressed here are the author’s alone, not those of the k, credit rd issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

tegories: Credit and Debt, Credit Cards, Discover, Reviews

Brian Martucci writes about frugal living, entrepreneurship, and innovve ideas. When he’s not interviewing small business owners or investigng time- and money-saving strategies for Money Crashers readers, he’s probably out eloring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the k advertiser. Responses have not been reviewed, approved or otherwise endorsed by the k advertiser. It is not the k advertiser’s responsibility to ensure all posts andor questions are answered.

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Discover it® for Students rd Review – 5% sh Back on Rotng tegories



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