Review
Updated
Fact Checked
Eric McWhinnie
Many student credit cards are light on perks, but that's not the case with the Discover it® Student Cash Back. It offers big bonus opportunities and useful tools that can help you build your credit. Learn more about what it has to offer in our detailed Discover it® Student Cash Back review.
2023 Award Winner
Rating image, 5.00 out of 5 stars.
5.00 stars
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Credit Score
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Fair/New to Credit Under(669)
Intro APR
Purchases: 0%, 6 months
Balance Transfers: 10.99%, 6 months
Regular APR
18.24% - 27.24% Variable APR
Rewards 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically
1% - 5% Cashback
Annual Fee
$0
Welcome Offer Discover will match all the cash back you’ve earned at the end of your first year.
Cashback Match
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A leading student credit card with a rewards program that goes toe-to-toe with some of the top rewards cards we've come across.
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- Rotating bonus categories
- Valuable sign-up bonus offer
- Good for avoiding fees
- Credit score monitoring
- Highly rated customer service
- No fixed bonus categories
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- INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
- No credit score required to apply.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- No annual fee and build your credit with responsible use.
- 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.
- Click through to Discover’s website to see terms and conditions.
Full Discover it® Student Cash Back review
This credit card is a good fit for: Students who want to earn cash back and build credit, without paying any unnecessary fees.
Top perks
This is one of the most feature-packed student credit cards we've seen.
Earn up to 5% cash back
With the Discover it® Student Cash Back, you earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum of $1,500 on purchases and when you activate. Other eligible purchases earn 1% cash back.
This is a fantastic rate that's competitive with some of the top cash back cards. Just make sure to activate your bonus categories every quarter to earn the bonus rate of 5%.
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. For example, if you earn $200 in cash back during the first year, Discover will reward you with another $200. There's no maximum amount, so you can earn quite a bit of cash back this way.
SEE MORE: Best Credit Card Sign-Up Bonuses
Good for avoiding fees
Some credit cards charge lots of extra fees. Fortunately, Discover credit cards don't. Here's how you save on fees with the Discover it® Student Cash Back:
- It doesn't charge an annual fee. This is especially important for your first credit card. It means you can keep the card open, which helps your credit score, without paying a yearly fee for it.
- It doesn't charge a foreign transaction fee. Many credit cards charge a fee, often 3%, on foreign transactions. If you plan to study abroad or travel internationally at all, you can use this Discover card without paying extra.
Discover automatically waives your first late fee. Ideally, you'll never pay late -- I recommend setting up auto-pay or putting a monthly bill pay reminder on your phone. Still, it's nice that Discover cuts you some slack if you miss a credit card payment.
0%, 6 months intro APR for purchases
Want to pay off something expensive -- like a semester's worth of books -- without costly interest charges? This Discover card has a 0%, 6 months intro APR on purchases. The go-to variable rate applies after the intro period. Here are a few things to keep in mind with this feature:
- If you pay off your purchases within the first six months, you'll avoid interest.
- Even when you're not getting charged interest, you still need to make minimum payments on your card every month.
- You'll start getting charged interest on your balance once the intro period ends.
- Only use this feature if you really need it. Don't get yourself in debt for no reason, just because your card has a 0% intro APR.
RELATED: How Credit Card Interest Works
Free FICO® Score
As a Discover cardholder, you have access to its Credit Scorecard tool. This is available through the Discover mobile app and online. It gives you a detailed look at your FICO® Score, as well as the factors that are helping and hurting it.
This is a helpful feature for anyone, but especially those who are building credit for the first time. It's important to know your FICO® Score, because this is the type of credit score that's most widely used by lenders. Discover will also show you what you can do to improve it.
LEARN MORE: How to Establish Credit for the First Time
Identity alerts
Identity theft is a common financial crime. Discover offers tools that can help you catch it. When you open a Discover card, you can choose to activate the following alerts:
- Social Security number alerts: Discover notifies you if your Social Security number is found on any of thousands of dark web sites.
- New inquiry alerts: Discover monitors your Experian credit report every day. If anyone pulls your credit, Discover notifies you so you can spot potential fraud.
- New account alerts: Discover notifies you if any credit card or loan accounts are opened on your Experian credit report. If anyone else opens an account in your name, this can help you spot it right away.
What could be improved
There aren't any major issues with this Discover student card, but there's one drawback worth mentioning.
No fixed bonus categories
The hard part with rotating bonus categories is that there aren't any areas where you can always earn more cash back throughout the year. For example, if you usually spend a lot on gas and groceries, you might rather have a card that earns more in those categories year-round.
With this card, one quarter you may luck out with bonus categories where you have high spending, earning you lots of rewards. The next quarter, you might end up with bonus categories in which you barely spend anything, and most of your purchases will earn you 1% back.
Suggested credit score
There's no minimum credit score needed to get the Discover it® Student Cash Back. Since it's a student credit card, you can qualify for it with no credit history.
MORE TOP PICKS: Best Student Credit Cards
Alternatives to consider
- If you spend a lot on groceries and at restaurants: Try the Capital One SavorOne Student Cash Rewards Credit Card. It earns 3% cash back on dining, at grocery stores, on entertainment, and on select streaming services.
- If you want to earn flat rate, unlimited cash back: The Capital One Quicksilver Student Cash Rewards Credit Card is a great choice. It earns 1.5% on purchases, regardless of the spending category.
As of Sep. 28, 2023
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| Capital One SavorOne Student Cash Rewards Credit Card | Capital One Quicksilver Student Cash Rewards Credit Card |
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Rating image, 4.00 out of 5 stars.
4.00 stars
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.00 out of 5 stars.
4.00 stars
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
|
Apply Now for Capital One SavorOne Student Cash Rewards Credit Card
On Capital One's Secure Website. |
Apply Now for Capital One Quicksilver Student Cash Rewards Credit Card
On Capital One's Secure Website. |
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Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)
Fair/New to Credit Under(669) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)
Fair/New to Credit Under(669) |
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Welcome Offer: Earn $50 Cash Back when you spend $100 in the first three months Earn $50 Cash Back |
Welcome Offer: Earn $50 Cash Back when you spend $100 in the first three months Earn $50 Cash Back |
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Rewards Program: Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), with 1% on all other purchases. Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024. Earn 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal. 1% - 10% cash back |
Rewards Program: 1.5% cash back |
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Intro APR: Purchases: N/A Balance Transfers: N/A |
Intro APR: Purchases: N/A Balance Transfers: N/A |
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Regular APR: 19.99% - 29.99% (Variable) |
Regular APR: 19.99% - 29.99% (Variable) |
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Annual Fee: $0 |
Annual Fee: $0 |
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Highlights:
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Highlights:
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Apply Now for Capital One SavorOne Student Cash Rewards Credit Card
On Capital One's Secure Website. |
Apply Now for Capital One Quicksilver Student Cash Rewards Credit Card
On Capital One's Secure Website. |
Show More
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The Ascent's student card essentials
When looking for the best student credit card, it's important to focus on offers that yield the most return for a student's limited budget. It's important to find credit cards that have no annual fee, provide free credit score tracking, and include an array of other features, such as a sign-up bonus and cash back rewards of at least 1%.
Find the best credit card for your needs
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
The Discover it® Student Cash Back is right for you if:
You're looking for a credit card to use during college and beyond. To be honest, the Discover it® Student Cash Back is simply one of the best credit cards for students. It's one I've recommended to my own younger family members. In particular, you'll probably love it if:
- You're looking for a first credit card that's easy to use and doesn't charge unnecessary fees.
- You want to earn extra cash back in a variety of categories.
- You need to pay off some big expenses over time.
FAQs
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The minimum starting credit limit for the Discover it® Student Cash Back is $500. Since this is a student credit card, many cardholders start out with lower credit limits of under $2,000. It is possible to get a higher limit, either starting out or after using the card, with some cardholders reporting limits of over $25,000. When your application is approved, Discover bases your credit limit on your income and creditworthiness.
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No, the Discover it® Student Cash Back doesn't deposit cash back automatically. If you want to set up automatic cash back redemptions, you can, but only as a statement credit on your credit card bill every month. If you want to deposit it to a bank account, you need to do it manually. You can redeem your cash back any time and for any amount through your online account.
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After you graduate from college, your Discover it® Student Cash Back becomes a standard credit card. You'll still keep the same cash back program and card design. Discover doesn't allow product changes from one card to another at this time, but you could apply for another Discover credit card if you want a new one.
Our Credit Cards Experts
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
Fact Checked
Eric McWhinnie
Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com, PayPal, Target, Uber Technologies, and Walmart. The Motley Fool recommends Discover Financial Services and recommends the following options: short September 2023 $67.50 puts on PayPal. The Motley Fool has a disclosure policy.
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