This article will discuss how to get a Discover Student Credit Card in 2023. College students are often preoccupied with getting the most out of their educational experience, so they are a little more frugal than the rest of us when it comes to money.
It’s unlikely that you’ll have enough room in your budget for a credit card when buying things like cars or electronics. That isn’t to say you won’t be able to get a credit card.
Financial aid cards, prepaid cards, and student loans are available for those who require them, but credit cards are also available to students.
These cards come with benefits that are designed to make life easier for students and their parents.
You can also use these cards as an emergency fund lending tool or to make everyday purchases more convenient if you graduate from college and find yourself with a lot of extra cash in your budget.
Student Credit Card from Discover
Discover introduced student credit cards in 2012, making them a relatively new product category. These cards offer good rewards for students who want to use their cards to buy school supplies, textbooks, student fees, and other school-related expenses.
This credit card is tailored to college students, providing them with an introduction to credit and how to build it. The card is designed to assist students in budgeting and debt management.
While there are no hard-and-fast rules for determining how much student loan debt a family should have, one important factor to consider is whether you can afford to pay your monthly bills and cover any unexpected expenses.
If you already have a credit card, you may be able to get a credit limit increase from your Discover Student Card’s existing line of credit and a line of credit from another lender.
This would allow you to use the card for various purchases, including timely payment of your bills.
However, keep in mind that using multiple credit cards can lead to new issues and a drop in your credit score.
If you fall behind on your bills, the increased interest rates you pay on multiple accounts will harm your credit score.
The Discover it® Miles Student Credit Card, the Discover it® Secured Student Credit Card, and the Discover it® Student CashBack Credit Card are the three types of Discover student credit cards. Each one has a unique combination of cashback rewards, bonus miles, and other perks.
Your priorities will determine which student credit card is best for you. You should think about rewards rates, bonus miles, the annual fee, the length of the grace period, and whether you’ll have to carry a balance on the card.
Types of Discover it® Student Credit Cards
For college students who want to earn rewards for their spending, the Discover it® Miles Student Credit Card is a great option.
The card’s features are designed to make managing money simple for students, and it comes with many benefits that can help you get ahead in school and on your way to a better financial future.
This card offers a generous introductory APR of 0% for the first six months. During this time, you’ll be able to make purchases without having to worry about accruing interest charges.
You’ll also get 5% cash back on certain categories of your spending, which can quickly add up.
The Discover it® Miles Student Credit Card benefits go beyond the rewards program. This card is one of the few that has no foreign transaction fees, so you won’t have to pay anything when you use it abroad.
It also offers a purchase protection plan that covers both in-store purchases and online purchases made through Amazon.com or eBay.
The Discover it® Miles Student Credit Card can be both enjoyable and profitable, but the most important benefit is that it will assist you in managing your finances and achieving your financial objectives.
The Discover it Secured Student Credit Card is a great credit card for students because it offers cash back on every purchase and a 0% introductory APR for the first six months.
This card comes with a slew of perks, making it one of the best student credit cards on the market.
However, when applying for Discover it Secured, there are a few things to keep in mind. The 6-month introductory period on this secured card is the longest of any secured card offer.
It’s also the only secured card with a 0% purchase and balance transfer rate, making it ideal for students looking to get their feet wet in the credit world without paying a lot in interest fees.
Rewards: You’ll get 2% cashback on your purchases, plus an unlimited 1% cash back on all other purchases. That’s significantly more than any other student credit card, and a significant amount when compared to most student credit cards’ average rewards, which hover around 1%.
0% intro APR for purchases and balance transfers: Another great feature that makes this card one of the best student credit cards available is the 0% intro APR for purchases and balance transfers.
The Discover it® Cash Back Student Credit Card gives you 4% cash back on up to $1,500 in combined purchases made within the first three months of account opening and then 1% cash back on everything else.
Purchases and balance transfers have a 25.74 percent annual percentage rate (APR). Cash Advances have a 24.74 percent APR, while all other Rate Products have a variable APR ranging from 10.74 percent to 27.49 percent. Variable APRs are current as of the last day of your billing cycle and are subject to change without notice.
See the ‘For Students’ section of the Discover it Cash Back Website for more information about the terms and conditions that apply to your Discover it® Student CashBack Credit Card account.
How Do You Get A Discover Student Credit Card?
Students who have completed at least one year of college can apply for student credit cards, also known as “grants.”
By applying online, signing up for a paperless credit card, and receiving support. The next step is to apply for the Discover it Student Credit Card once you’ve been accepted.
This card has no annual fee, and it also has a balance transfer feature, which is a big plus in this case.
You must submit your name, Social security number, date of birth, address, and a copy of your current and previous pay stubs with your name and email address on them as part of the application process.
You’ll also require an official document proving your status as a student. Most colleges and universities require either an official letter from your school or an unofficial but official declaration from an instructor attesting to your status.
If you’re unsure whether you have enough information, call the issuer and inquire about any additional documents required for credit approval.
Review of the Discover Student Card
The Discover Student Card, also known as the Discover it, is one of the most widely used student credit cards.
This card has had a great run since its inception, and it has gone through several iterations and redesigns to improve the user experience. This card, which was released late last year by Discover, is the most recent iteration. It included many significant enhancements, including:
- The card has been redesigned in order to improve its aesthetic appeal. The background is light blue on both sides of the card with a lighter gray lining. Discover it, Student Card is the new name for it. It used to be known as the Discover it Secured Credit Card.
- The card now has a built-in chip that provides more security than previous versions. This is fantastic news for people who carry large amounts of cash in their wallets, as they can now use their newly secured credit card instead of their old wallet cashier at grocery stores and shops.
- The welcome bonus is now even better than before! After spending $500 within 90 days of opening an account, users will receive $150 back. This is a fantastic deal for college students who have yet to be approved for a credit card because they are still in school.
- The card has no annual fee and a 12-month introductory APR of 0% on purchases and balance transfers.
- When you redeem your cashback through Discover’s website, you can get a bonus of up to 2x when you use the card.
The Benefits of Using a Discover Student Card
- Up to $1,000 per quarter in cash back on gas, grocery, and drugstore purchases.
- There is no annual fee.
- There is a 0% introductory APR for the first 12 months on balance transfers.
- There is a 0% introductory APR for the first 12 months on purchases.
- There is no charge for transferring your balance.
The Disadvantages Of Using The Discover Card For Student Purposes Are As Follows:
- You won’t be able to get everything you want because of the limited categories. Discover does not have a card that offers rewards in department stores or other places that frequently offer 5% cashback. You can save 5% at wholesale clubs such as Costco and Sam’s Club, but only if you have a Costco membership, which many Discover cardholders do not. If you’re buying airline miles with your card, a 5% cash-back card would be ideal.
- Over time, the costs mount up. The bonus structures are based on a tiered system. The bonus grows in size as you spend more, indicating that it comes at a cost. If your quarterly spending limit is $1,000, you will receive 5% back.
Credit Card Limits for Students
Because of the low level of credit card spending common among college students, many credit card companies have reduced the number of cards they will issue to students.
The good news is that some student credit cards are available; however, you must first locate and understand them before applying.
It’s critical to understand which types of accounts your Discover Student Credit Card limits apply to. While there are a few basic categories, make sure your credit card limits cover all of the main reasons you might use a credit card — especially if you plan to pay off your balance in full each month.
If you’re a student, you might not consider credit cards to be a major financial decision, but they’re the most important part of your financial education.
If you have a low credit limit on your card, it could be disastrous if you have an emergency. Alternatively, it could lead to overspending and jeopardize your chances of getting a good grade. Fortunately, there are affordable and safe options available for students.
One of them is the Discover Student Card. Unlike many other cards, it has a $5,000 limit, but there is no annual fee or requirement for a minimum monthly payment.
Students can’t get credit cards until they’re 21, so the penalty APR won’t affect them when they graduate next year.
The Discover Student Credit Card comes with a unique feature that allows cardholders to lock their account until they graduate from college.
While this feature does not allow for any cash advances or charges, it does help keep your account from being reported as “abandoned” by creditors, which can harm your credit score.
Requirements for a Discover Student Card
The Discover credit card has a good rewards program and is one of the few cards that offer a zero percent interest rate on purchases for the first six months.
It’s also a good choice for those looking for a simple way to earn money back on their purchases. To be eligible, you must be a full-time college student enrolled at least half-time, have a permanent United States address, and be a United States citizen or permanent resident. You’ll need proof of college or university enrollment, such as your student ID or school email address (if you don’t have one, you can link your Facebook profile).
Tuition statements can also be used to show that you’re enrolled in classes and attending at least half of them. The minimum credit limit is $1,000 and the minimum income requirement is $25,000 (all applicants must have a credit score of at least 700). The Discover Student Credit Card account opening requirements are fairly standard — you must have an existing account with the same bank that operates the Discover card — but some people may believe it is more complicated than it needs to be because this card has no annual fee while others do. You may require the following items:
- A valid social security number or ITIN is also required (for non-resident aliens).
- You’ll also need to show proof of your identity and address, which can be done in one of two ways:
- A bank statement that proves your income (such as a W-2)
- A copy of your bank statements with all of your accounts listed.
Login to your Discover Student Card
Discover is a well-known and reputable credit card company. The Discover signup bonus and low-interest rates make the card appealing to students. However, because it lacks rewards, it is less effective in building credit than other cards in this category. The Discover Student Credit Card has a straightforward application process that requires no proof of age or income. You must be enrolled in college to apply, but you can apply even if you aren’t enrolled if you are a full-time student living in the United States. There are no hard pulls on your credit report, so this card is a good option if you’ve had trouble building credit in the past.
There’s no annual fee on this card, so there’s no reason not to use it while you’re still in school. However, all purchases made with this card outside of the United States are subject to a 3% foreign transaction fee, making it prohibitively expensive for frequent travelers. Go to www.discover.com/studentcard to get started. When you visit www.discover.com/credit-card-login, you can check your credit score and report from Equifax and Experian.
Discover Student CashBack
The Discover Student Credit Card offers a flat 1 percent cash back reward for the first six months. The APR will rise to an average of 16.24 percent after this period, but you can get your money back if you pay your bill on time. Discover has a great introductory offer of up to 5% cash back over the first year, which is ideal for saving and debt repayment. For college students looking for a cashback credit card, the Discover Student Credit Card is a great option.
It gives you 3% cash back on gas, groceries, and restaurants, 2% cash back on everything else, and 1% cash back on all eligible purchases up to $1,500 per quarter. The first $1,500 in cash back rewards must be used within 90 days of the quarter’s end date. The spending requirement will not be met if you earn rewards in subsequent months. The following cash back programs are available as of April 2021:
- Discover Cash Back offers 5% cash back in various categories that change every quarter.
- Discover Rewards gives you 5% cash back monthly in various categories.
- Discover Student CashBack offers 10% cashback each quarter in three categories: gas, dining, and shipping.
- Every month, Discover Student Rewards offers 10% cashback in three categories: gas, dining, and shipping.
If you take the time to consider all of your options, you can get a student credit card in 2024. The Discover it® Student Credit Card is a great choice because it has some of the lowest interest rates on the market, and the cashback rewards program is designed specifically for students. However, there are numerous other student credit cards available. Reduce your options, keep track of your spending habits, and apply for a credit card that fits your budget. In the long run, it will save you money.
Frequently Asked Questions
The solution is straightforward: If you meet the following criteria, you will be approved for a Discover it® Student Credit Card:
You are a citizen of the United States (permanent residents of the United States are not eligible).
You are a full-time student at an accredited American institution or an international student studying on an F-1 visa (a bachelor’s degree is required).
You have a valid Social Security number or ITIN (Individual Taxpayer Identification Number) in the United States (ITIN)
By the end of the first billing cycle after opening your account, you will be under the age of 25.
Your annual income must be under $65,000, and your family’s total income must be under $150,000.
You must have a permanent address in the United States.
All required minimum payments must be made when they are due.
You must not owe any money to any other credit card companies.
You can only have one Discover it® Student Credit Card account at any given time. If you have an existing account with this card, you must close it before applying for a new one.
There are no annual fees or foreign transaction fees with this card. You can use this card anywhere in the world as long as your bank allows it; just keep in mind that you’ll be responsible for any fees your bank charges.
When used responsibly, Discover student credit cards are a great way to build credit while earning cash back rewards on every purchase. Because Discover reports your credit history to the three major credit bureaus, it can help you build credit if you use it responsibly. Late payments, delinquencies, and other negative activity on your other credit card accounts and loans may make it difficult for you to build credit. So make good use of your student credit card by paying at least the minimum payment on time or more.
Once you graduate from college, your student credit card will become a standard credit card. The cashback program will remain the same, as will the card design. You might be able to get a credit line increase to help you manage your expenses after school.