Discover it 5% Card for College Students

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at issuer’s secured site
no credit
intro purchase APR 0% for 6 monthsregular APR12.99 - 21.99% (V)
intro BT APR 10.99% for 6 months 3% BT fee
rewards 1 or 5% 
  • earn 5% cashback on rotating quarterly categories up to $1,500 quarterly limit in purchases
  • 1% cashback on all purchases
  • double cashback for first year
  • $20 cashback annual  bonus if your GPA is 3.0 or greater

 

no annual fee

no credit needed

5% cashback on changing categories

double first year cashback

Editors Review

Pros

  • 5% cash back on rotating quarterly categories, see calendar in our Discover it 5% cashback card review
  • 1% regular cash back
  • double cashback for your first year with the card
  • $20 bonus every school year if your GPA in a school year was 3.0 or greater
  • No penalty APR and no first late payment fee, free FICO score online– useful features for youngsters who yet need to learn how to be responsible with a credit history
  • 0% intro APR for first six months
  • Low regular APR – 12.99%-21.99%

Cons

  • You need to activate 5% cashback on categories every quarter
  • Not accepted everywhere outside the US and even in the US

Verdict

A good student credit card with a high 5% cash back and no annual fee. There is another 2% cash back it Chrome card from Discover – if you like fixed category cashback more.

If you plan to travel, it is advised to consider another card like Journey Rewards for Students from Capital One or CITI ThankYou for students. These cards offer good rewards rate with a worldwide acceptance (Capital One card even doesn’t charge you a foreign transaction fee).

Last updated: 07/25/2016




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