Discover It for Students: Reward Yourself While Building Credit

Advertiser Disclosure

College students are notoriously wary of credit cards.  They have no income, and many today have seen their parents struggle with credit issues during the financial crisis.  Many credit card companies have begun rolling out new student credit card products that aim to teach students about responsible credit, while still earning revenues from transaction fees collected from retailers.  Let’s dive into Discover It for Students below!


Apply Now: Discover it® for Students with $20 Cashback Bonus



  • $20 bonus

Just for making your first purchase on the card, you’ll receive a $20 bonus cash back (as long as that purchase is within the first three months of card membership). 

  • 5% Cashback

This credit card has a 5% cashback bonus that revolves through four different categories during the year.  Examples include gas, restaurants, and online shopping.  These are capped at $1,500 in purchases per quarter, so a maximum of $75 in cashback for each season.

  • 5% to 20% Cashback Bonus at the Online Shopping Mall

While I doubt you’ll be receiving 20% cashback on purchases at Amazon, students who hold the card and shop through Discover’s shopping portal can possibly receive some cash back, varying from 5% to 20%.  Major retailers include J. Crew, JC Penny, Kmart, Hotwire, and others.  You can check them all here.

  • 1% Cashback on Everything Else

Much like other credit cards out there, every dollar spent that isn’t in the above categories will earn a 1% cash back bonus.

  • Cashback Concierge

One of the more helpful things that Discover offers is a “cash back concierge,” which will walk you through all the different cash back options available to you.

  • Annual Fee

There is no annual fee for this card, so every cash back bonus that you earn is of no cost to you (as long as you pay off your credit card each month!).

  • APR

For the first sixth months of card membership, your balance transfers will accrue interest at a rate of 10.99%, and then after accrue at the normal APR for the card, which is between 12.99% and 21.99%, depending on credit worthiness.  Each balance transfer also incurs a 3% fee.  Cash advances incur a 24.99% fee.  However, one major benefit for forgetful students is that there is no penalty APR.  You won’t even pay the late payment fee the first time you forget! After that, it’s $35.



The Discover It card for Students is just that- a card built with students in mind.  You can even choose between four different card designs (I’d choose the cassette tape version, if I were you).  The impressive cashback options makes this a very good “starter card” for those that wish to learn about credit and its usefulness in a safe way.

I like how Discover is aiming to build a better customer from the beginning, coaching students that hold their card with helpful ways to stay on top of their borrowing.  In the end, this is a stronger long-term strategy for a company and this card is one of the better student cards out there.  But, obviously, if you are not a student, this card isn’t for you.


Apply Now: Discover it® for Students with $20 Cashback Bonus