Discover it Student Cash Back Credit Card Review

The Discover it® Student Cash Back card has a slew of appealing features. As your credit improves, you'll be eligible for better-paying credit cards in the future. Using the Discover it® Student Cash Back card is a great way to accomplish this.

There are several appealing features to the Discover it® Student Cash Back card, especially the greater returns in quarterly rotating categories. Having a $1,500 quarterly limit isn't exactly pleasant. If the extra categories are activated, there may be further limits, such as the potential that "online shopping" exclusively refers to sites like Amazon.com, Walmart.com, or Target.com. After depleting the rewards category, all subsequent purchases will earn the same 1% cashback.

In the first year, Discover's Cash Back Match will double your return on your initial investment if you utilize it correctly, doubling your cash back incentives.

Even though the Discover it® Student Cash Back card does not charge foreign transaction fees, Discover may not be widely accepted outside the United States as other major card issuers. Students who plan to study abroad need to keep this in mind. As a result, it may be a smart idea to search elsewhere.

Pro Explained

Spending Rotation with High Returns, as Suggested by the Pros The benefits of student credit cards are generally few. Despite being one of the most widely used student credit cards, you'll only get 1% cash back on all purchases with the Deserve Edu credit card. A student can earn up to 5% cash back every three months by activating the Discover it Student Cash Back card. This cashback can be used to pay for various daily expenses, including groceries from Safeway and McDonald's, and dining out at numerous establishments, including Amazon.com. In addition, you get 1% cash back on all other transactions with this credit card, with no cap on how much you can earn.

The first year's bonus with Cash Back Match might be substantial: One-time bonuses that equal the cash back you earn throughout your first year as a cardholder are exceedingly hard to come by for student credit cards, so this one is especially valuable. There is no limit to how much money you can earn with this bonus. If you earn $200 in cash back rewards, Discover will double your reward earnings to a maximum of $400.

The Discover it Student Cash Back card features a six-month introductory 0% APR offer on new purchases, so it can be used to pay off a laptop or textbooks without incurring interest expenses. This card's variable APR ranges from 14.49-23.49% after the introductory rate ends. The 0% introductory APR on the Student Cash Back card sets it apart from the competition. Due to the lack of introductory APRs on the Deserve Edu and Capital One's Journey Student Credit Card, the Discover it Student Cash Back Card is the most cost-effective option for students.

One-time bonus offer for students

Credit card companies frequently offer a one-time bonus to new users who spend a certain amount within the first three months of opening an account. No limit on how much the company will match you earn in the first year of your card membership; this card will match all your cash back. Using Discover, you will receive $400 in rewards, double your initial $200. For students on a tight budget, that's a far better benefit than most student credit cards.

A Guide to Earning Reward Points

The Discover it Student Cash Back card offers 5% cash back on rotating spending categories up to $1,500 per quarter and 1% cash back on all other purchases.

For the sake of argument, let's say you spend $7,000 a year on this card to pay for gas, groceries, textbooks, toiletries, and meals at sit-down and fast-food establishments. To put it another way, if your quarterly spending totaled $1,500, you would earn $300 if you used the 5 percent incentive rate. If you spend the final $1,000 in incentives, you'll get another $10. You could win up to $310 in cash.

You'll also get $620 in cash back incentives from Discover for the first year of your account.

Detailed instructions on how to redeem your prizes

With this card, you can use your rewards whenever you want for any amount. Statement credits or electronic transfers to your bank account can be redeemed for reward points, used to make purchases at Amazon.com, and given to a charity of your choice.

After accruing at least $5 in reward points, you can redeem your points for gift cards. Some merchants will give you a $5 bonus for every $20 you spend, while others will give you a $25 gift card. There are different spending requirements for certain incentives at other retailers. We now have Old Navy, Gap, and American Eagle gift cards.