Discover Student Cash Back – How to apply

By Marcos • 11/28/2024

Building a solid credit history is an essential step for students starting their financial journey.

Therefore, the Discover Student credit card offers a combination of simplicity and benefits

With Discover Student, students can enjoy advantages such as cashback on daily purchases and exemption from annual fees, elements that contribute to an accessible and advantageous experience. 

And the rewards program allows you to accumulate cash back in rotating categories and earn a fixed return on other purchases, adapting well to common student expenses.

How does the Discover Student work?

It is a student card that works like a traditional credit card, but with the added benefit of rewards in the form of cashback. It offers 5% cashback on specific categories that change every quarter. 

And to make the most of these benefits, it is necessary to activate the rotating categories directly on the card account, which is done simply and quickly.

In addition to offering attractive rewards, the card provides access to a free FICO credit score, allowing you to track your financial progress over time. 

With low fees and the possibility of forgiveness for the first late payment, the card offers an extra layer of flexibility and security as you learn to manage your finances responsibly.

Main benefits of Discover Cash Back for Students 

The Discover Cash Back for Students offers a number of benefits that make it attractive to students. The rewards program is generous and flexible, offering 5% cashback on purchases made in rotating categories that change every quarter. 

Furthermore, the program guarantees 1% cashback on all other purchases, no additional activation required. 

This balance between specific categories and general rewards makes the card highly advantageous for students who want to maximize their financial return while learning to manage their expenses.

Another notable benefit is the Unlimited Cashback Matching offered in the first year. 

With this promotion, Discover matches dollar for dollar all cash back accumulated during the initial 12 months, with no limit on amounts. This means that no matter how much you accumulate, Discover doubles the total at the end of the period. 

Rewards can be redeemed in a variety of ways, whether as cash directly into the account, for purchases on Amazon.com or for transactions via PayPal. 

And finally, the promotion Cashback Match, where Discover automatically matches all cashback you earn in the first year, with no limits or minimum spend. 

This way, if you accumulate $50, you will earn $100, and if you earn $100, you will have $200. A simple way to maximize your rewards!

Cons of Discover Cash Back for Students 

While Discover Student offers clear advantages, it also has some limitations. One of the least convenient points is the need to manually activate cashback categories every quarter. 

For those who are not used to managing details like this, it can be easy to forget to activate categories and miss opportunities to maximize rewards.

The initial credit limit tends to be lower as it is aimed at students. This may be a restriction for those who intend to use the card for larger expenses or emergencies. And it requires strict financial control, as the reduced limit can be quickly reached.

APR and Fees

With 0% introductory APR In the first six months of purchases, the card provides an excellent opportunity to manage large initial expenses without worrying about short-term interest. 

After the introductory period, a variable APR rate between 17.74% and 26.74%, depending on the holder’s credit history, adjusted based on the Prime Rate.

In addition to the promotional APR, the card maintains transparency in its rates, standing out in the student loan market. 

How to apply for the Discover Cash Back for Students 

To request the Discover student card, it is essential to gather basic documents, such as an updated proof of registration. 

This document must contain information such as your name, the name of the educational institution and the dates you are enrolled, ensuring that you meet the eligibility criteria as a student. 

In addition, you will need to provide information about your income, which may include part-time jobs, internships, or other sources of financial support, such as an allowance. 

Before submitting your application, it’s a good idea to research your card details and make sure it aligns with your spending habits and financial goals. 

Evaluating factors such as fees, benefits, and requirements can ensure you are making an informed choice. 

When completing the online application form, please provide all information accurately to avoid delays in approval.