FlowTapper is an independent credit card comparison platform. We may earn a commission when you click through.
Discover it® Student Cash Back: Smart Choice or Not?
Discover it® Student Cash Back offers a 5% reward on rotating categories with no annual fee. But is it the best student card for you?
The Quick Version
The Discover it® Student Cash Back card is a solid starter card with no annual fee and a 5% cash back on rotating categories. However, the regular APR could hit up to 27.49% after the intro period, so pay off your balance monthly.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
Discover it® Student Cash Back
Ideal for students who want to build credit and earn rewards.
Fees & Rates
The Discover it® Student Cash Back card charges no annual fee, making it budget-friendly for students. The variable APR ranges from 18.49% to 27.49%, so it's crucial to avoid carrying a balance. You'll earn 5% cash back on rotating categories each quarter, like grocery stores and restaurants, and 1% on all other purchases. According to Discover, there's no foreign transaction fee, which is a plus for students studying abroad.
What's Actually Good
The standout feature is the 5% cash back on popular spending categories, which can significantly boost your rewards if you activate them each quarter. Plus, Discover matches all the cash back earned at the end of your first year, effectively doubling your rewards. This card also helps build credit, as it's designed for students new to credit.
The Catch
The variable APR can climb up to 27.49%, which is steep. If you're not disciplined about paying your balance in full, the interest can quickly outweigh any rewards. Also, the 5% cash back categories require activation each quarter and are capped at $1,500 in spending, limiting the total rewards you can earn.
This Card Is For You If...
If you're a student with no annual fee card and plan to pay off your balance monthly, this card could work well. It's perfect for someone wanting to earn rewards on everyday purchases and build their credit profile. However, if you tend to carry a balance, look elsewhere due to the high APR.
The Bottom Line
The Discover it® Student Cash Back card is a strong option for students who can take advantage of the 5% cash back categories and pay their balances in full. For those who travel or study abroad, the no foreign transaction fee is a bonus. However, if you typically carry a balance, consider a card with a lower APR. For another student card without annual fees and good rewards, check out the Capital One SavorOne Student: Cash Back and No Fees.
