Discover it® Student Cash Back: The Smart Student's Pick
Earn rewards while building your credit with the Discover it® Student Cash Back card. It's perfect for students who love cash back and have a knack for tracking spending categories.
The Quick Version
The Discover it® Student Cash Back card is a standout option for students eager to earn rewards and build credit. With 5% cash back on rotating categories and no annual fee, it’s a smart pick. However, be prepared to track those categories and watch out for a high variable APR between 18.49% and 27.49%.
The Discover it® Student Cash Back delivers solid rewards with no annual fee.
Discover it® Student Cash Back
What's Inside
The Discover it® Student Cash Back card offers 5% cash back on specific categories that change each quarter, like grocery stores or gas stations, and 1% on all other purchases. It also rewards good grades with a $20 statement credit for students maintaining a GPA of 3.0 or higher. Plus, Discover matches all the cash back you've earned at the end of your first year.
What's Actually Good
There are several highlights here. First, that 5% cash back on rotating categories can add up quickly if you’re strategic. No annual fee means you’re not paying just to hold the card. The good grades reward is a nice touch, incentivizing students to keep their GPA up. And the first-year cash back match is essentially a doubled reward without any extra effort.
- ✅ 5% cash back on rotating categories
- ✅ No annual fee
- ✅ Good grades reward
- ✅ Cash back match in the first year
The Catch
Here’s where things get tricky. That variable APR, ranging from 18.49% to 27.49%, is steep, especially if you’re not paying off your balance each month. Rotating categories can also be a hassle to track, and if your spending doesn’t align with them, the rewards might not be as lucrative. Outside these categories, the 1% cash back isn’t going to make you rich.
- ❌ High variable APR
- ❌ Rotating categories require tracking
- ❌ Limited rewards outside categories
Who It's For
This card is perfect for students who are diligent about managing their finances. If you’re the type who can track rotating categories and pay your balance in full each month, you’ll reap the most rewards. It’s also a great starter card for those looking to build credit without the burden of an annual fee.
The Bottom Line
If you're a student ready to juggle rotating categories for maximum rewards, the Discover it® Student Cash Back card is your best bet. Just be cautious of that high APR and stay on top of your spending. Curious about travel rewards? Check out the Capital One Venture: A Travel Card Worth the Miles?
