Hey there, savvy students! If you’re on the hunt for a credit card that not only gets you some cool cash back but also helps you build your credit history from the ground up, the Discover it® Student Cash Back might just be your new financial friend. Let’s dive into what makes this card a smart choice for students like us who are starting our credit journeys.
A Quick Overview: What’s to Love?
The Discover it Student Cash Back card mirrors many features of its sibling, the Discover it® Cash Back Credit Card, including those nifty rotating bonus categories with a $1,500 cap on elevated earnings each quarter. But, here’s the kicker: you don’t need a credit history to apply, making it a fabulous first card for us students.
Perks and Quirks: The Lowdown
Pros:
- No Credit History Needed: Jumpstart your credit score without prior history.
- No Annual Fee: Save your cash for textbooks (or pizza).
- Rotating Bonus Categories: From gas stations to Amazon, earn more on different categories throughout the year.
Cons:
- Limited Redemption Options: It’s mostly about the cash back.
- Quarterly Caps: The 5% bonus is capped, so plan your spending wisely.
The Sweetener: Cash Back Match
Unlike typical welcome bonuses that lure you in with upfront rewards, Discover plays the long game. They’ll match all the cash back you’ve earned at the end of your first year. This means if you’re smart with your card, your rewards could double, which is a pretty neat way to encourage good spending habits and regular use.
Building Credit While Earning Rewards
This card isn’t just about earning cash back. It’s a credit-building tool. Discover reports to the three major credit bureaus, helping you establish a credit history. Plus, you get free access to your FICO score. It’s like having a financial health meter at your fingertips!
Going Abroad? Take it With You
Studying abroad can be an enriching part of our college experience, and with no foreign transaction fees, the Discover it Student Cash Back is a great travel companion. Whether you’re buying books in Berlin or souvenirs in Sydney, you won’t be dinged with extra charges.
Making the Most Out of It
Remember, the 5% cash back in those rotating categories does require a bit of attention—you need to activate them each quarter. Miss this step, and you’ll drop down to 1% cash back in those areas, which is still okay, but not as sweet.
Who Should Consider the Discover it Student Cash Back?
If you’re new to credit cards and want a card that grows with you while offering some perks, this card is worth a look. It’s especially appealing if you’re okay with putting in a bit of effort to maximize those rotating categories.
So, for all of us getting our toes wet in the world of credit, the Discover it Student Cash Back offers a practical, rewarding start. Why not make your everyday spending a bit more rewarding while building a solid credit foundation? Happy swiping, and here’s to smart spending and savvier saving!
