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Discover it Student Cash Back review: Get 5% back in popular quarterly categories

Lee Huffman
9 min read

Between rising college costs and inflation in just about every other part of the economy, it’s no wonder why college students may be short on cash. But with the right student credit card, you can start building credit and earning rewards on your purchases.

The Discover it® Student Cash Back Card is designed with students in mind. No credit score is required, and the card comes with no annual fees and generous rewards on every purchase. Plus, new cardholders can earn a one-time cash bonus after the first year and benefit from an intro APR offer to reduce or eliminate interest charges.

Annual fee: $0

Welcome offer: Unlimited cash back match on all rewards earned in the first year.

Rewards:

  • 5% cash back on quarterly rotating categories, such as grocery stores, restaurants, or gas stations (up to a combined spending maximum).

  • 1% on everything else.

More details: Introductory 0% APR on purchases for the first six months, no credit score required to apply, no foreign transaction fees.

If you carry a balance with the Discover it Student Cash Back Card, there’s a variable APR of 18.24% to 27.24%. But if you pay off your card in full each month, you won’t be charged interest.

There’s no annual fee for the Discover it Student Cash Back, meaning you can focus on building credit and earning rewards without worrying about an extra cost.

The Discover it Student Cash Back has a unique sign-up bonus that could be quite valuable, depending on your spending habits.

Most welcome bonuses require you to spend a minimum amount within the first few months in order to earn a certain amount of cash back or points. This can lead to overspending, which can be especially risky for students learning how to use credit cards responsibly.

However, Discover offers an unlimited match of the cash back you earn during the first year. Whether you spend $50, $5,000, or more during the first 12 months, all of the cash back you earn is matched at the end of year one. This type of bonus benefits every type of customer, from those who use the card only for emergencies to others who are big spenders.

When you open a Discover it Student Cash Back Card, you'll receive two intro APR offers: One for purchases and another for balance transfers.

For all new purchases, there’s a 0% APR for the first six months from account opening. For example, if you get the card at the start of the semester and use it to purchase all your textbooks, you’ll have up to six months to pay off the amount with no interest.

Cardholders also receive a 10.99% intro APR for six months on balance transfers. While you’ll still pay some interest on the transferred amount, it’s much lower than the standard transfer APR. To take advantage of this offer, your balance transfer must be posted by Aug. 10, 2024. Transfers made by this date incur a 3% balance transfer fee, while all others have a 5% fee.

  • 5% cash back on quarterly rotating bonus categories (up to a combined spending maximum).

  • 1% cash back on all other purchases.

The Discover it Student Cash Back Card earns rewards in three primary ways. Learn how to maximize the rewards on your spending.

Rotating bonus categories

Each quarter, Discover releases bonus categories in which cardholders can earn 5% cash back. These categories often correlate to areas where consumers spend the most during those times of the year. Previously, 5% cash back has been offered at grocery stores, gyms, drug stores, Amazon, and Target.

You must activate these offers before making purchases in order to earn the elevated cash-back rate. Quarterly spending limits also apply. While these can vary, you can typically earn 5% back on the first $1,500 spent on eligible purchases each quarter, after which you’ll earn 1% cash back. If you max out your spending with a $1,500 limit, you could earn up to $75 each quarter.

Everyday purchases

All purchases outside of the quarterly rotating bonus categories earn an unlimited 1% cash back.

Cash back match

At the end of the first year, Discover will match all the rewards you’ve earned so far. The cashback match is unlimited, so whether you spend $100 or $10,000 over the first 12 months, your rewards are doubled by Discover.

Say you max out the 5% bonus categories each quarter, earning you $300 in cashback over the course of your first year. After the match is applied, you’ll have earned a total of $600 back in rewards.

You can redeem your Discover it Student Cash Back rewards at any time and for any amount. However, if your card hasn't been used within 18 months or your account is closed, Discover may credit your account or send you a check for the value of your rewards.

You have several options to redeem your rewards:

  • Cash back. Deposit rewards into your linked bank account or redeem them as a statement credit.

  • Shop online. Use your rewards to pay for your purchases directly when checking out at Amazon.com or using PayPal at participating merchants.

  • Buy gift cards. Redeem rewards for gift cards from popular retailers and restaurants. Gift cards start at $5 each, and Discover provides an additional bonus on every card you buy.

  • Donate to charity. Support charities and help those in need by donating your rewards.

Outside of its rewards and intro offers, the Discover it Student Cash Back Card's perks are relatively limited. Benefits include free access to your credit score and online privacy protection. Additionally, all Discover cards waive foreign transaction fees.

This card is ideal for students who want to maximize cash-back rewards while building their credit. To get the most value from the Discover it Student Cash Back Card, activate the quarterly rotating bonus categories and max out the spending minimum.

Students who need extra time to pay off their purchases will also appreciate this card. It provides a 0% intro APR promotion for six months on purchases, giving students time to earn extra money and pay off their purchases without sacrificing their studies.

  • 5% cash back in select, rotating categories.

  • Unlimited cashback match during the first year.

  • No annual fee or foreign transaction fee.

  • Free access to credit scores and online privacy protection.

  • Top rewards rate comes with a spending maximum (typically up to $1,500) each quarter.

  • Must manually activate promotions to earn bonus cash back.

  • Does not include travel or purchase protections.

You can use Discover cards at 99% of U.S. retailers that accept credit cards for payment. This means that most retailers and restaurants you visit within the U.S. will accept your Discover it Student Cash Back credit card.

However, when traveling outside the U.S., Discover cards are not as widely accepted. Use Discover’s international acceptance map to view where it is accepted in countries around the world. While the card is accepted at millions of places globally, it may not be accepted where you're traveling or the stores you frequent. For this reason, it is wise to bring a Visa or Mastercard as a backup.

  • Online at Discover.com

  • Pay through the Discover mobile app (Apple, Google)

  • Call customer service at (800) 347-2683

  • Payments by mail are based on your current address. Your Discover card statement will include one of these four mailing addresses:

    • PO Box 6103, Carol Stream, IL 60197-6103

    • PO Box 45909, San Francisco, CA 94145-0909

    • PO Box 70176, Philadelphia, PA 19176-0176

    • PO Box 71242, Charlotte, NC 28272-1242

It's important that students building their credit start off with a solid credit card that they can keep for many years. While the Discover it Student Cash Back Card can be rewarding for many students, it isn't the right card for every situation. Before applying, consider whether these other student-friendly cards are a better choice.

Why we like it: The Capital One Quicksilver Student Cash Rewards Card is another cash-back rewards credit card designed for students. This card earns an unlimited 1.5% cash back on every purchase without having to remember bonus categories, track spending caps, or activate promotions. It has no annual fee, and new cardholders can earn a $50 cash bonus when they spend just $100 within the first three months. The card also includes a limited-time promo for Uber and Uber Eats: Get a monthly statement credit for an Uber One membership plus 10% cash back on eligible purchases through Nov. 14, 2024.

Why we like it: If you often use services like DoorDash to deliver food, supplies, and other goodies, the DoorDash Rewards Mastercard could get you some cash back on those purchases. Earn 4% cash back on DoorDash and Caviar orders and receive a complimentary DashPass subscription for the first year. The card also earns 3% cash back on dining, 2% back on grocery purchases, and 1% on everything else. Cardholders don’t pay an annual fee, and if they spend $10,000 or more each year, their DashPass membership renews for free. The card also includes complimentary travel and purchase protections on eligible purchases.

Why we like it: The Capital One SavorOne Student Cash Rewards Card earns an unlimited 3% cash back on dining, entertainment, streaming services, and grocery store purchases — without charging an annual fee. New customers can also qualify for a $50 cash bonus after spending $100 within three months of opening their account. Additionally, you'll earn 10% back on Uber and Uber Eats purchases through Nov. 14, 2024, and 8% back on Capital One Entertainment purchases.

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers.