College students sometimes find themselves wondering where they may apply for a credit card that would both meet their needs and help them establish credit. Credit cards are convenient ways to keep track of expenses, rack up incentives, and build credit. However, not every credit card is made equal; some may be more suited for students than others.
A Discover student card is a great alternative for college students. Discover it Student Cash Back and Discover it Student Chrome are two of Discover’s student credit card options. Both cards are ideal for college students because they do not charge an annual fee, do not require a credit check, and offer a wide variety of perks.
We’ll break down what a student credit card is and why it’s useful for college students in this piece. We’ll help you pick the finest Discover credit card for students by contrasting the two options. At last, we’ll outline the simple procedure for registering for a Discover Student Card account online.
Read on to learn how to apply for a Discover Student Credit Card online today to get started on establishing a positive credit history and accruing cash-back benefits while still in school.
How to Choose the Best Discover Student Credit Card for You
Both Discover it Student and Discover it Chrome share several features and benefits.
- There is no yearly charge
- There is no additional charge for an overseas transaction.
- Six months of no interest at all on purchases are included, and then the normal variable rate of 17.99% to 26.99% kicks in.
- Get your free FICO Credit Score now!
- Safeguarding Personal Information Online
- After the first year, you’ll receive a cash bonus.
- Affiliate marketing
However, the two cards are not identical in every respect; in particular, their cash-back incentives differ. See how the two cards stack up in this comparison:
|Feature||Discover it Student Cash Back||Discover it Student Chrome|
|Cash back rate||5% cash back on everyday purchases at different places each quarter, such as Amazon.com, grocery stores, restaurants, gas stations, etc., up to the quarterly maximum when you activate. 1% cash back on all other purchases.||2% cash back at gas stations and restaurants (including cafes and fast-food) on up to $1,000 in combined purchases each quarter, automatically. 1% cash back on all other purchases.|
|Cash back categories||Rotating categories that change every quarter. You need to activate them every quarter to earn the bonus rate.||Fixed categories that don’t change. You don’t need to activate them to earn the bonus rate.|
|Quarterly cap||$1,500 in purchases per quarter||$1,000 in combined purchases per quarter|
You can see that the amount and structure of the cash-back rewards offered by the two cards are fundamentally different. With the Discover it Student Cash Back card, you may earn 5% cash back on select categories that rotate every three months. To maintain the bonus rate, you must activate the categories quarterly. The Discover it Student Chrome Card’s lower 2% cash-back rate applies only to permanently established categories. The category activation is unnecessary to receive the extra percentage.
Let’s take a look at an example to see how much cash back you may get with each card based on common purchasing habits.
|Category||Average monthly spending||Discover it Student Cash Back (5%)||Discover it Student Chrome (2%)|
|Restaurants||$150||$7.50 or $1.50 (depending on the quarter)||$3|
|Gas stations||$100||$5 or $1 (depending on the quarter)||$2|
|Total monthly spending||$800||$30 or $16 (depending on the quarter)||$10.50|
|Total annual spending||$9,600||$360 or $192 (depending on the quarter)||$126|
Clearly, if you spend heavily on the quarterly categories and remember to activate them, the Discover it Student Cash Back card has the potential to give you more cash back than the Discover it Student Chrome card. You might not get as much cash back as you would with the Discover it Student Chrome Card if you don’t spend much on those categories or fail to activate them.
Considering your own preferences and spending habits is the best approach to decide between the two cards. The Discover it Student Cash Back card is a good option if you regularly make purchases in the bonus categories and don’t mind having to activate them each quarter. The Discover it Student Chrome Card could be a good choice if you spend a lot of money on things like petrol and eating out and want a straightforward and reliable cash back programme.
How to Apply for a Discover Student Credit Card Online
Once you’ve decided which Discover student credit card is best for you, you can apply for it online in a few easy steps. Here’s how:
- To apply for a Discover card, just go to the company’s website.
- To apply online, select the “Apply Now” link and then enter your name, postal and email addresses, telephone numbers, date of birth, and SSN into the corresponding fields.
- Don’t forget to mention your school, major, anticipated graduation date, and housing situation.
- Share information about your employment, income, and financial accounts.
- Please read the card’s terms and conditions and click “I Agree” if you accept them.
- Put in an application and see what happens. You could hear back right away, or additional paperwork could be required.
Here are some guidelines to boost your chances of acceptance:
- Your FICO Credit Score is available for no cost from Discover and other providers. Your chances of being authorised for credit and receiving a favourable interest rate rise as your credit score rises.
- One of the most significant aspects of your credit score is your payment history. Timely bill payment demonstrates fiscal maturity and creditworthiness.
- Credit utilisation measures how much of your total credit you are actually using. Your ability to handle additional credit will be better demonstrated by a lower credit utilisation ratio.
- You can hurt your credit score and give the impression that you’re desperate for credit if you apply for too many cards all at once. You should only apply for the card(s) you intend to use.
How to Use Your Discover Student Credit Card Responsibly
Congratulations on being granted a Discover it for Students credit card! You’ve made a significant move in the direction of establishing a positive credit history and accumulating cash-back rewards. Don’t stop there though. Responsible card use is also important for keeping your credit score high and avoiding costly fees and interest charges.
Learn how to make responsible use of your Discover Student Card by following these guidelines.
- A budget is a set of guidelines for managing a household’s income and expenditures. Creating and sticking to a budget can help you spend less money than you earn. You can make a budget and keep track of it in a notepad, an app, or a spreadsheet.
- Keep tabs on your finances and always pay off your monthly balance in full. The Discover mobile app and online account centre make it easy to monitor finances and settle up outstanding balances. If you pay off your debt in full every month, you can avoid paying interest and maximise your rewards.
- If you’re eligible, you should turn on your cash-back categories once per quarter. To get the quarterly bonus rate on your Discover it Student Cash Back card purchases, you must activate your cash back categories each quarter. They can be activated by sending a message, calling, or going online.
- The Discover Refer-a-Friend Programme is a referral incentive programme that benefits both you and your referrals. If you invite a friend and they sign up for a card, both of you will receive a bill credit if your friend makes their first purchase within three months.
- Warnings about late payments and additional costs for carrying a balance should be included. Even if there is no annual fee and a low introductory APR on Discover student credit cards, there are still penalties and interest rates to watch out for if you don’t utilise your card sensibly. Late payments, returned payments, balance transfers, and cash advances can all result in fees. If you don’t pay your bill in full each month, or if your introductory APR term ends, you may be subject to interest charges on any purchases, debt transfers, or cash advances you have made. Paying your credit card balance on time and in full every month will help you avoid late payment fees and interest charges.
Applying for a Discover Student Credit Card online is a great idea for students looking to establish credit and have access to cash-back incentives while still in school. Discover it Student Cash Back and Discover it Student Chrome are two of Discover’s student credit card options. Both cards are ideal for college students because they do not charge an annual fee, do not require a credit check, and offer a wide variety of perks.
The amount and structure of cash back rewards are the primary distinctions between the two cards. In order to receive the quarterly 5% cash back incentive on the Discover it Student Cash Back card, you must activate the bonus categories each quarter. Both petrol stations and eating establishments qualify for 2% cash back with the Discover it Student Chrome Card, and this is a permanent category that does not need to be activated.
Consider your own spending habits and personal preferences while making your final decision. The Discover it Student Cash Back card is a good option if you regularly make purchases in the bonus categories and don’t mind having to activate them each quarter. The Discover it Student Chrome Card could be a good choice if you spend a lot of money on things like petrol and eating out and want a straightforward and reliable cash back programme.
You must meet certain requirements in order to apply for a Discover Student Credit Card online, including being at least 18 years old, earning your own money, and either having no credit history or a decent credit score. Personal information, educational background, proof of income, and proof of bank account information are all things that need to be provided. The online application process is straightforward, taking only a few minutes to complete from start to finish.
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