Discover it® Student Cash Back Card
Annual Fee
$0
Rewards
5% rotating categories, 1% all else + cash back match first year
APR
18.49%-27.49% variable
Sign-Up Bonus
Cashback Match first year
The Discover it® Student Cash Back card is an excellent choice for students seeking to earn rewards while building credit. With its unique cash back features and good grades incentive, it stands out in the student credit card market.
Card details
Pros
- ✓ 5% cash back on rotating categories each quarter
- ✓ 1% cash back on all other purchases
- ✓ No annual fee
- ✓ Good Grades Reward of $20 for maintaining a GPA of 3.0+
- ✓ Cash back match in the first year
Cons
- ✗ Variable APR of 18.49%-27.49%
- ✗ Rotating categories may require tracking
- ✗ Limited cash back opportunities outside of categories
🎯 Best For: This card is best for students who are disciplined about their spending and can take advantage of the rotating cash back categories.
⚠️ Watch Out: Be cautious of the high variable APR if you carry a balance, as this can lead to significant interest charges.
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Expert Review
The Discover it® Student Cash Back card is tailored specifically for students, offering a compelling rewards structure that includes 5% cash back on rotating categories each quarter. This can translate into substantial savings if users are attentive to the categories, which typically include popular spending areas such as restaurants, gas stations, and online shopping. Additionally, the card's 1% cash back on all other purchases ensures that students earn rewards on every dollar spent.
A standout feature is the Good Grades Reward, which provides a $20 statement credit for students maintaining a GPA of 3.0 or higher, incentivizing academic performance. However, potential users should be mindful of the card's variable APR, which can range from 18.49% to 27.49%, making it crucial to pay off balances each month to avoid high interest charges. Compared to other student credit cards, the Discover it® Student Cash Back card offers a unique blend of rewards and incentives, making it a strong contender for students looking to establish credit while earning rewards.
However, the limited cash back opportunities outside of the rotating categories may not appeal to all students, particularly those who prefer a more straightforward cash back structure.
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