Is the Discover it Student Cash Back worth it?

As a college student, it can be challenging to find a credit card that suits your needs. Most students don’t have a credit history or high credit scores, making it difficult to qualify for many credit cards on the market. However, there are options available specifically designed for students in this situation. One such option is the Discover it® Student Cash Back credit card.

The Discover it Student Cash Back credit card is a great choice for college students who want to build their credit history while earning rewards. Unlike many other credit cards, this card doesn’t require applicants to have a credit score. This means that students who don’t yet have a credit history can still qualify for this card. Additionally, this card offers a rewards program, which is not always available for students without a credit history.

One of the main benefits of the Discover it Student Cash Back card is the opportunity to earn cash back on purchases. Cardholders can earn 5 percent cash back on select purchases in rotating bonus categories each quarter, up to $1,500 per quarter. After reaching the $1,500 limit, cardholders will earn 1 percent cash back on all other purchases. The bonus categories change each quarter and have included popular retailers such as grocery stores, gas stations, restaurants, Target, Amazon, and PayPal.

Another advantage of this card is the flexibility it offers in redeeming rewards. Cardholders can choose to redeem their cash back as a direct deposit to their bank account, a statement credit to their Discover bill, or use it to pay for items at and through PayPal. They can also use their cash back to buy gift cards starting at $5 or make a charitable donation.

Furthermore, the Discover it Student Cash Back card comes with a welcome bonus for new cardholders. Discover’s Cashback Match™ program matches all of the cash rewards earned during the first 12 months of card membership. For example, if a student earns $100 in cash back during their first year, Discover will provide an additional $100 in cash back at the end of the year, for a total of $200.

Students who are looking to make large purchases or pay off existing debt may also benefit from the introductory APR offers on this card. The Discover it Student Cash Back card offers a 0 percent intro APR on new purchases for the first six months, followed by a variable APR of 18.24 to 27.24 percent. It also provides a 10.99 percent intro APR on balance transfers for six months, followed by the standard variable APR. These introductory APRs can save students money on interest charges during the introductory period.

While the Discover it Student Cash Back card has many advantages, there are situations where it may not be the best choice. The main drawback of this card is that the bonus categories rotate each quarter, and enrollment is required for each category. If a student’s spending habits don’t align with the bonus categories, they may not earn much cash back during those quarters. However, if a student doesn’t have a credit score or has a low credit score, qualifying for other top student credit cards may be challenging. In this case, building a credit score should be the priority, and earning some rewards with the Discover it Student Cash Back card, even if the spending habits don’t align, would be better than not earning any rewards at all.

Additionally, some students may not want a credit card with rotating categories and may prefer a card that offers boosted rewards in select fixed categories or a flat rate of rewards on all purchases.

In conclusion, the Discover it Student Cash Back credit card can be an excellent choice for college students looking to build their credit history while earning rewards. The card offers a rewards program, flexible redemption options, a welcome bonus, and introductory APR offers on purchases and balance transfers. As long as students use the card responsibly and pay off their balances in full by the due date, this card can be a valuable tool in their financial journey.

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