Discover it® Student Cash Back Review: Is It Right for You?

Top perks

Earn up to 5% cash back

Discover it® Student Cash Back cardholders earn 5% cash back on everyday purchases at different places each quarter like, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum of $1,500 on purchases and when you activate. All other purchases earn 1% cash back.

Unlimited Cashback Match sign-up bonus

This popular perk has Discover automatically matching all the cash back you’ve earned at the end of your first year. This sign-up bonus is only available during the first year and for new cardholders, but it can be particularly lucrative since the match is unlimited.

$20 good grades statement credit

The issuer will grant $20 in statement credit every school year to cardholders who post a GPA of 3.0 or higher. Student cardholders can earn the $20 good grades reward up to the next five years.

No annual fee

Many students count every penny and are on very tight budgets. Fortunately for them, Discover charges no annual fee on the Discover it® Student Cash Back.

0% intro APR for purchases

Want to fund something — perhaps a semester’s worth of books — without having to worry about paying interest temporarily? You’ll have a six months to fund such expenses with this card’s 0% intro APR on purchases; buy a costly item or several, and pay it (them) off over the intro period to avoid costly interest charges. The go-to variable rate applies after the 0% intro APR expires.

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FICO® Score for free

Any person that holds a credit card needs to be aware of their credit score. Discover makes this easy by including a FICO® Score for free, which can be found in the Discover mobile app and through a customer’s account management page.

Identity alerts

The issuer’s online service monitors your Experian credit report daily, and alerts you when a new account is posted there. It also screens websites that traffic in personal data, similarly letting you know if any of your details pop up.

No foreign transaction fee

Going abroad? If you use the Discover it® Student Cash Back you won’t be dinged a foreign transaction fee.

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