How we rate our cards Advertiser disclosure
Annual Fee
$0
Regular APR
18.24% – 27.24% variable
Intro Bonus
Unlimited dollar-for-dollar match of all the cash back you earn at the end of your first year Discover matches all the cash back rewards you've earned on your credit card from the day your new account is approved through your first 12 consecutive billing periods or 365 days, whichever is longer, and adds it to your rewards account within two billing periods.
Credit Score
Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.
None
The Discover it® Student Cash Back offers a great rewards rate with no annual fee, and students don’t even need a credit score to apply.
Expert Take: The Discover it® Student Cash Back is perfect for college students who want to build credit and earn some cash back along the way. This card has the same excellent rewards rate as the non-student version from Discover, there’s no annual fee and a credit score isn’t required to apply. The card’s intro APR sweetens the pot even more.
Pros
- Earns rewards in rotating bonus categories
- Cashback Match™ welcome bonus
- No annual fee or foreign transaction fees
- Available for limited or no credit
- No penalty APR
Cons
- Bonus rewards caps apply
- Earns just 1% back on regular purchases
- Quarterly activation required for bonus rewards
Vault’s Viewpoint on the Discover it® Student Cash Back
The Discover it® Student Cash Back is considered one of the best student credit cards available today based on its rewards rate, lack of an annual fee and easy requirements for approval. In terms of rewards, cardholders can earn 5% cash back on up to $1,500 spent in activated, rotating bonus categories each quarter (then 1% back) plus 1% cash back on all other purchases. Discover will also match all rewards earned after the first year through its Cashback Match™ program.
Students with the Discover it® Student Cash Back get a free credit score and the chance to build credit over time since Discover reports payments to the three credit bureaus each month. Cardholders also get a 0% intro APR on purchases for six months, followed by a variable APR of 18.24% to 27.24%. This benefit can help students pay down a big purchase (like a new laptop) without interest for a period of time or build in some breathing room for their budget when cash is tight.
Because the Discover it® Student Cash Back doesn’t require a credit score to get approved, this card can work for young adults who have no credit history at all. This is a major benefit considering some student credit cards require fair credit or better (FICO Scores of 580 and up).
Discover it® Student Cash Back Highlights
Annual fee: $0
Welcome bonus: With Cashback Match™, Discover will match all rewards earned after the first year
Earning Rewards With the Discover it® Student Cash Back
The Discover it® Student Cash Back offers bonus rewards on categories that change every three months as well as a flat rewards rate on all other purchases.
Specifically, cardholders can earn:
- 5% cash back on up to $1,500 spent in activated, rotating bonus categories each quarter (then 1% back)
- 1% cash back on all other purchases
While Discover bonus categories change over the years, many are repeated over and over again. For example, Discover bonus categories frequently include options like grocery stores, restaurants, gas stations, wholesale clubs and Amazon.com purchases, to name a few.
Redeeming Rewards
Discover it® Student Cash Back rewards are very flexible in general, and some redemption options are offered in any amount (even a few cents or $1 or less). Cash back earned with this card can be redeemed for:
- Deposits into a bank account in any amount
- Statement credits in any amount
- Purchases made through Amazon.com or PayPal
- Gift cards starting at $5
- Charitable contributions
Rates and Fees
A major benefit of the Discover it® Student Cash Back is its lack of fees. Here’s a listing of some common credit card fees and charges of the Discover it® Student Cash Back.
- Annual fee: $0
- Intro APR on purchases: 0% intro APR on purchases for six months from account opening
- Intro APR on balance transfers: 10.99% intro APR for 6 months from the date of first transfer (for transfers under this offer that post to your account by April 10, 2024)
- Variable APR: 18.24% to 27.24%
- Balance transfer fee: 3% through April 10, 2024, then 5%
- Foreign transaction fee: None
- Late payment fee: $0 the first time, then up to $41
- Penalty APR: None
- Cash advance fee: 5% (minimum $10)
- Cash advance APR: 29.99% variable
Discover it® Student Cash Back Benefits
As a cash back credit card geared toward students with limited or no credit, the Discover it® Student Cash Back doesn’t offer many perks.
Discover it® Student Cash Back benefits include the following:
- Discover Identity Alerts: Discover will notify you if your personal information is found on the dark web, a new account shows up on your credit reports, your Social Security number (SSN) is found online and more.
- FICO Score access: Track your credit score and progress online with a free credit score.
- No Penalty APR: There’s no late fee for the first late payment (up to $41 thereafter), and you’ll never be charged a penalty APR if you pay your credit card bill after its due date.
Who Is the Discover it® Student Cash Back Best For?
You have to be a college student to get approved for the Discover it® Student Cash Back. However, this card could work well for people who are in their first year of higher education all the way up to their last. The fact that the Discover it® Student Cash Back is available to people with no credit score also means it’s uniquely suited to college students who have no credit history at all or very limited credit at most.
Students who want to earn cash back on everything they buy can also benefit immensely from this card, especially if they are willing to keep track of its quarterly bonus categories and maximize them throughout the year. The Discover it® Student Cash Back is also a good fit for students who plan to study abroad since it doesn’t charge any foreign transaction fees.
Who Should Consider an Alternative to the Discover it® Student Cash Back?
While the Discover it® Student Cash Back is exceptional among student credit cards, there are other top cards to consider with different rewards rates and benefits. This includes rewards cards for students that have a generous flat earning rate instead of bonus categories to keep track of.
Students with at least some credit history—and potentially even a score in the fair credit range—will also have a broader range of student cards to pick from.
How Does the Discover it® Student Cash Back Stack Up to Competitors?
If you’re curious about other student credit cards that offer rewards and the ability to build credit for the future, consider these alternative options:
Discover it® Student Cash Back vs. Capital One Quicksilver Student Rewards Credit Card
The Capital One Quicksilver Student Rewards card requires “fair credit”, so it’s not available to consumers with no credit score like the Discover it® Student Cash Back. Still, this student card from Capital One comes with no annual fee and no foreign transaction fees, and it earns a flat rate of 1.5% cash back across the board.
Similar to some other standard cash back cards from Capital One, the Capital One Quicksilver Student also offers complimentary monthly Uber One membership statement credits and 10% cash back on Uber and Uber Eats purchases through November 14, 2024.
Discover it® Student Cash Back vs. Bank of America® Unlimited Cash Rewards Credit Card for Students
The Bank of America Unlimited Cash Rewards Credit Card for Students also requires some credit history to get approved, yet it has a generous rewards rate and welcome offer as a result. In terms of ongoing rewards, students earn a flat rate of 1.5% cash back on all purchases.
Cardholders also get access to an intro APR on both purchases and balance transfers. There’s no annual fee, but this card does charge a 3% foreign transaction fee if you use it for purchases outside the U.S.
Discover it® Student Cash Back vs. Discover it® Student Chrome
The Discover it® Student Chrome is another student credit card from Discover with similar benefits but a different rewards structure. This card has no annual fee and no foreign transaction fees, and it earns 2% cash back on up to $1,000 spent at gas stations and restaurants each quarter (then 1% back) and 1% back on other purchases.
There’s no credit score requirement to apply for this card, and there’s no penalty APR to worry about if you pay your bill after the card’s due date. An intro APR offer on purchases also sweetens the deal, although it’s a relatively short one just like you get with the Discover it® Student Cash Back.
Is the Discover it® Student Cash Back Worth It?
Most experts would agree that the Discover it® Student Cash Back is hard to beat and one of the best student credit cards available today. After all, young adults in college with no credit history can use this card to build credit with on-time payments, and they’ll earn a minimum of 1% cash back the entire time.
Of course, there are other student cards and general cards for credit building worth checking out, especially if you’re on the hunt for an optimal rewards rate based on how you normally spend. It never hurts to look over all the best credit card offers before you decide, even if you ultimately wind up with the Discover it® Student Cash Back in the end.
Frequently Asked Questions
What Is the Credit Limit on the Discover it® Student Cash Back?
Discover lists a minimum credit limit of $500 for applicants who get this card. The card issuer does not list a maximum credit limit for this card.
Does the Discover it® Student Cash Back Charge Foreign Transaction Fees?
The Discover it® Student Cash Back doesn’t charge any extra fees if you use it for purchases abroad. All other Discover credit cards are free of foreign transaction fees as well.
What Credit Score Is Needed for the Discover it® Student Cash Back?
Discover doesn’t have a minimum credit score to apply for this card. In fact, the card issuer says you don’t even need a credit score to get approved.
