If you're a fan of plastic payments, it may be difficult to imagine a world without credit cards. It's no wonder they are such an ingrained part of society. Credit cards have been around for nearly a century! Credit cards were first introduced in the 1920s by merchants offering customers an alternative payment method at their store. It was an...
|Signing Promotion||Great For: Helping students build good credit history.|
|Annual Fee||12.99% – 21.99%* Variable|
|Intro APR Promotions||
- Generous...5% cash back in categories that change throughout the year up to the quarterly maximum with free and easy sign-up. And 1% cash back on all other purchases.*
- Fair...No annual fee. No overlimit fee. No foreign transaction fee. Plus, pay up to midnight ET online or by phone on your due date without a fee. No late fee on your first late payment. And paying late won’t increase your APR.*
- Human...talk to a real person any time with 100% U.S. - based service.
- Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.*
- Safe...Because you're never responsible for unauthorized purchases with our $0 Fraud Liability Guarantee.
- Experience our cash rewards with $20 Cashback Bonus® when you make your first purchase within 3 months of approval.* Standard variable purchase APR*- 12.99% - 21.99%.*
- *Click “Apply" to see rates, rewards free FICO® Credit Score terms and other information.
Fair Credit Needed
- Easy to be approved as a student with little or no credit
- Discover is well-known for its excellent customer service
- 5% cash back on select, rotating categories
- Cardholders can choose their own due dates
- Quarterly cap on cash back earned from 5% categories
- Typically offers fairly low credit limits
- Discover is not as widely accepted as its counterparts, American Express and Visa
The Simple Dollar’s Review
The Discover it® for Students with $20 Cashback Bonus is one of the most enticing student card offers you’ll find. If you are in college with little or no credit, you should be approved for this card fairly easily. Cardholders of these Discover student cards often cite its generous cash back rewards system as its biggest advantage. Users receive 5% cash back on categories like gas, groceries, and movies, which rotate quarterly every year. On 5% cash back categories, rewards are capped at $1,500 per quarter. Cardholders also receive 1% cash back on all other purchases that don’t fall under the 5% category.
While a great card for young people hoping to build their credit, this card, like most student cards, will start out with relatively low limits below $1,000. However, if cardholders demonstrate that they can consistently make on-time payments, the Discover is fairly generous about increasing limits over time. Although Discover has historically been accepted among fewer merchants, now, 90% of retailers accept Discover. Perhaps the best part of entering the Discover family through this student card is the award-winning customer service, which is based entirely in the United States.
Before you finalize that credit card application, stop to read the fine print. Remember, credit card companies are businesses first and foremost. No matter how customer-friendly they are, their prime objective is to make a profit. Part of the way they do that is through fees. Does your credit card charge any fees you don’t know about? The answer may...
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