Discover it® Student Cash Back
- Sign-up Bonus: Double cash back in the first 12 months (Cashback Match)
- 5% Rewards: 5% cash back on select quarterly rotating purchases, up to $1,500 in combined category purchases per quarter
- 1% Rewards: Unlimited 1% cash back on all other purchases, including favored category purchases above the cap
- GPA Bonus: $20 bonus every year your GPA stays above 3.0
- Intro APR: 0% APR for 6 months on purchases, then variable regular APR applies
- Foreign Transaction Fees: None
- Annual Fee: None
- Credit Needed: Average
Discover it® Student Cash Back 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% cash back earnings and 5% cash back in quarterly rotating categories (subject to a $1,500 quarterly spending limit), it’s very similar to the flagship Discover it Cash Back card. Fellow Discover rewards cards include Discover it Chrome and Discover it Student Chrome, as well as Discover it Miles, a travel rewards card.
Discover it Student Cash Back competes with a number of other student credit cards, including Capital One Journey for Students and the Chase Freedom Student Credit Card.
What Sets Discover it Student Cash Back Apart?
Discover it Student Cash Back stands out from other student credit cards for three reasons:
- Up to 5% Cash Back on Eligible Purchases. Although your earning potential tops out at $75 per quarter in combined bonus category spending, this is still leaps and bounds better than the typical student credit card, where you’re lucky to earn 1.5% cash back on any purchase.
- No Annual Fee. This card has no annual fee, another clutch benefit for cash-strapped students.
- First-Year Cash Back Match. If doubling your first-year cash-back earnings sounds like a good deal — and, to be clear, it is — then you’ll love Discover it Student Cash Back.
Key Features of Discover it Student Cash Back
Review these important features before you apply for the Discover it Student Cash Back card.
First-Year Double Cash Back
On your first cardmember anniversary, Discover automatically doubles all the cash back earned during the previous 12 months, with no restrictions or exclusions. For instance, if you earn $100 cash back in your first year, you get a $100 bonus – boosting your total cash back earnings to $200.
Earning Cash Back Rewards
Discover it Student Cash Back earns 5% cash back on select quarterly rotating categories, such as restaurants, department stores, and gas stations. Quarters begin January 1st, April 1st, July 1st, and October 1st.
The 5% cash back benefit is capped at $1,500 in spending across all rotating categories in a given quarter. Once you pass that limit, any additional purchases in the rotating categories earn 1% cash back, with no caps or restrictions. All other purchases earn an unlimited 1% cash back, as well.
Keep in mind that you need to manually activate your 5% cash back categories each quarter, either online or by calling Discover. Earnings are not retroactive to the beginning of the quarter, so it’s in your interest to activate as soon as possible.
Redeeming Cash Back Rewards
You can redeem your accumulated cash back rewards for statement credits, pay-with-points at Amazon.com, and bank account deposits in any amount, at any time. You can also redeem for gift cards, starting at a $20 minimum.
Good Grades Bonus
For every year you maintain a 3.0 GPA or better, you’re entitled to a $20 Good Grade Bonus. The bonus functions as regular cash back and can be redeemed in the same fashion as cash back earned through purchases.
To earn the bonus, you need to formally apply at Discover.com and provide evidence (such as transcripts) of your grades. Your account must be in good standing when you apply. This benefit is capped at 5 years, even if you remain in school for longer.
Freeze It
Discover’s Freeze It feature lets you freeze your account to all users (including yourself) from any Internet-connected device. Once frozen, no one can use your card to make new purchases or cash advances, though previously scheduled payments and automatic bills continue to process as normal, and any unpaid balances continue to accrue interest.
Freeze It is intended to prevent unauthorized card use when you suspect your card has been stolen or your account has otherwise been compromised. Once the danger recedes, you can unfreeze your account and continue to use the same card (if not lost), rather than waiting to get a new one in the mail.
Free FICO Score
Discover gives you a free FICO credit score with every monthly paper or electronic statement. You can also get your FICO score online at any time.
Introductory APR
Discover it for Students comes with a 6-month 0% introductory purchase APR, after which variable regular APR applies.
Important Fees
There is no annual fee or foreign transaction fee. Other fees may apply as well.
Credit Required
This card requires fair credit. You can have a spotty credit history due to limited prior credit usage, and/or some blemishes on your credit report, and still be approved.
Advantages of the Discover it Student Cash Back Card
These are the top advantages of Discover it Student Cash Back.
- Generous Rewards Compared to Other Student Cards. In the grand scheme of things, Discover it Student’s cash back rewards aren’t all that impressive. However, compared with other student cards, they’re quite generous. For instance, no other student card has 5% rotating cash back categories. Capital One Journey for Students pays a flat 1% cash back on all purchases, plus an extra 0.25% for on-time payments, while Citi ThankYou Preferred for Students earns up to 2 points (worth up to $0.01 apiece) on certain purchases.
- First-Year Double Cash Back Can Be Huge. If you use Discover it Student Cash Back as your primary credit card, its first-year double cash back bonus can make a huge difference in your first-year earnings. No other student credit card offers a comparable bonus.
- Good Student Bonus Is Worth Up to $100 Over Five Years. Discover it Student Cash Back’s Good Student Bonus pays $20 for every year you maintain a GPA of 3.0 or better, up to five years total. That basically a long-term cash back bonus of $100 – a nice boost to an already generous rewards program.
- Redeem in Any Amount. Discover it Student Cash Back lets you redeem for statement credits, Amazon.com purchases, and bank account deposits in any amount, at any time. That’s an advantage over competing cards with redemption minimums, of which there are surprisingly still quite a few.
- No Annual Fee. Discover it for Students doesn’t have an annual fee. That’s great news for cash-strapped students, and a definite advantage over alternatives such as the Citi Secured Mastercard and Capital One QuicksilverOne.
- Nice Intro Purchase APR. Discover it Student Cash Back has a 6-month 0% introductory APR, which is a nice perk if you need to make a big upfront purchase, such as textbooks for the coming semester. Many other student credit cards don’t have intro APR periods.
- Don’t Need Great Credit to Qualify. Discover it Student Cash Back doesn’t expect applicants to have amazing credit. Although this card isn’t meant for students with demonstrably poor credit, it’s definitely within reach if you have some blemishes on your record.
Disadvantages of the Discover it Student Cash Back Card
Don’t apply for Discover it Student Cash Back without considering these downsides.
- No Sign-up Bonus. Discover it Student Cash Back doesn’t have a sign-up bonus. That’s a disadvantage relative to competing student cards such as Citi ThankYou Preferred for Students, which offers a $100 sign-up bonus.
- Need to Manually Activate Bonus Categories. Discover it Student Cash Back requires you to manually activate your 5% cash back categories each quarter, either online or by phone. That’s an annoying extra step that’s easy to forget, particularly during school breaks or end-of-semester crunch times. And cash back isn’t retroactive if you activate late.
- Few Fringe Benefits. Discover it Student Cash Back doesn’t have many fringe benefits not directly related to education. By contrast, Citi ThankYou Preferred for Students has many of the same benefits as the “grown up” version, such as 24/7 concierge service and VIP/pre-sale event access through Citi Private Pass.
How Discover it Student Cash Back Stacks Up
Before you pull the trigger on Discover it Student Cash Back, see how it compares to another popular no-annual-fee student credit card with a very similar rewards program: the Chase Freedom Student Credit Card.
| Discover it Student Cash Back | Chase Freedom Student Credit Card | |
| 5% Rewards | On purchases in rotating categories, up to $1,500 combined quarterly spend | On purchases in rotating categories, up to $1,500 combined quarterly spend |
| 1% Rewards | On all other eligible purchases, unlimited | On all other eligible purchases, unlimited |
| 5% Activation Required | Yes | Yes |
| Retroactive 5% Rewards | No | Yes |
| Annual Fee | $0 | $0 |
Final Word
Student credit cards like Discover it® Student Cash Back are great credit-building tools for younger folks who have spotty or nonexistent credit. By using your card responsibly and making timely payments on any balances you accumulate, you demonstrate to future creditors that you’re a responsible consumer while building your credit history.
Over time, you’re likely to be approved for higher spending limits and become eligible for credit cards with more generous rewards. And, like many of life’s lasting friendships and pursuits, it starts in college.
