The no annual fee Discover it Student Card offers 5% cash back on rotating categories and doubles all of your cash back in the first year.
Discover it Student Information
Application Link: Discover it Student Card.
Current Sign Up Bonus: Double all of your cash back earned in your first year + 0% intro APR for 6 months on purchases.
Annual Fee: No annual fee.
Earning Rewards in the first year:
- 10% cash back on rotating categories up to $1,500 in quarterly spending (equivalent to $150 in cash back).
- 2% cash back everywhere else.
Earning Rewards after the first year:
- 10% cash back on rotating categories up to $1,500 in quarterly spending (equivalent to $75 in cash back).
- 1% cash back everywhere else.
Discover it Student Card Benefits
No Foreign Transaction Fees– You can use your Discover it Student card anywhere in the world without having to pay foreign transaction fees, which are typically 3%.
Free Credit Alerts- You can set up free alerts when your social security number is found on thousands of dark web websites. Or when any new credit card, mortgage, car loan, or other credit account shows up on your credit report.
Ability to Freeze Your Account– You can freeze your Discover it Student card at any time to prevent new purchases on the card.
Redeeming Cash Back
You can redeem your cash back very easily in several different ways including:
- A statement credit to reduce your balance.
- Direct deposit into any bank account.
- Charitable donations.
- Pay with rewards at select retailers such as Amazon.com.
You can also redeem your cash back for gift cards that are sometimes offered at a discount such as $20 for a $25 gift card.
The Discover it Student Card is valuable in the first year where you get 0% APR plus double cash back on all of your spending.
If you maximized the 5% cash back in your first year, you would receive $600 in cash back plus 2% cash back on all your other spending.
However, after the first year, we recommend you only use the card for the 5% cash back categories because 1% cash back is uncompetitive compared to the no annual fee Citi Double Cash.