Discover Student Cash Back – How to apply

By Marcos • 12/08/2024

The Discover Student Cash Back is a smart choice for college students who want to establish credit while enjoying the benefits of a competitive cashback program.

The Discover it® Student Cash Back is an excellent option for college students looking to establish credit while enjoying the benefits of a robust cashback program. Designed with students in mind, this card provides an easy way to earn rewards and manage finances responsibly.

Key Features of the Discover Student Cash Back:

• 5% Cashback in Rotating Categories: Earn 5% cashback on purchases in rotating categories, such as gas stations, restaurants, and Amazon.com, up to a quarterly maximum. This allows students to maximize their spending in areas that are most relevant to their lifestyle.
• 1% Unlimited Cashback on Other Purchases: In addition to the 5% categories, cardholders earn unlimited 1% cashback on all other purchases, ensuring rewards on everyday spending.
• No Annual Fee: The Discover it® Student Cash Back card has no annual fee, making it a cost-effective way for students to earn rewards while establishing credit.
• First-Year Cashback Match: At the end of the first year, Discover will match all the cashback earned, doubling your rewards in your first year. This is a great incentive for students to use the card regularly and rack up cashback.

How Does the Discover it® Student Cash Back Work?

The Discover it® Student Cash Back operates on a straightforward rewards system that’s ideal for students.

Cardholders earn 5% cashback on purchases in rotating categories, such as dining, groceries, gas stations, and online shopping.

These categories change each quarter, and activation is required to unlock the 5% rate. All other purchases earn unlimited 1% cashback, ensuring consistent rewards no matter where you spend.

One of the standout features is Discover’s Cashback Match, which automatically doubles all cashback earned in the first year.

This allows students to maximize their rewards effortlessly, making their first year with the card particularly rewarding.

The card also includes no annual fee, a first late payment fee waiver, and free access to your FICO® score. These features make it an excellent tool for managing finances and learning responsible credit habits.

Main Benefits for the Discover it® Student Cash Back

The Discover it® Student Cash Back offers a robust rewards structure designed to complement student spending habits.

The 5% cashback on rotating categories ensures that students earn the most on common expenses, while the unlimited 1% cashback provides steady rewards for all other purchases.

Discover’s first-year Cashback Match is a major highlight, effectively doubling all rewards and providing significant value for new cardholders.

Additionally, the no-annual-fee policy and first late payment fee waiver make the card forgiving and accessible, ensuring students can focus on building credit without unnecessary financial stress.

Cons for the Discover it® Student Cash Back

While the Discover it® Student Cash Back offers many advantages, it’s not without its drawbacks. The 5% cashback is capped at $1,500 in purchases per quarter, which might not be enough for students with higher spending in certain categories.

Additionally, the requirement to activate rotating categories each quarter adds an extra step that some users might find inconvenient.

The card’s high APR after the introductory period also makes it less suitable for students who plan to carry a balance. It’s best suited for those who can pay off their balance in full each month.

APR and Fees

The Discover it® Student Cash Back card has no annual fee, making it a cost-effective option for students.

However, the APR is variable and depends on your creditworthiness. Paying off your balance each month is crucial to avoid interest charges and maximize the card’s benefits.

How to Apply for the Discover it® Student Cash Back

Applying for the Discover it® Student Cash Back card is quick and straightforward. Here’s how:

1. Visit the Website: Head to Discover’s official website or mobile app and locate the Discover it® Student Cash Back page. Click “Apply Now” to begin.
2. Provide Your Information: Enter your personal and financial details, including your name, address, Social Security number, and school information. This helps Discover assess your eligibility.
3. Submit Your Application: Review your details for accuracy and hit submit. Most applicants receive an instant decision, though some may require additional review.
4. Activate Your Card: Once approved, your card will arrive in the mail within 7–10 business days. Activate it online or through Discover’s app, and start building credit and earning rewards right away!

The Discover it® Student Cash Back is a fantastic option for students looking to establish credit and earn meaningful rewards on their everyday purchases.