The is a low-cost credit card that’s a good fit for college students looking to earn cash back rewards on everyday expenses. It offers 2% cash back for purchases made at gas stations and restaurants, up to $1,000 per quarter, and unlimited 1% cash back on all other purchases. Additionally, the card’s intro bonus includes an unlimited cash back match after the first year. Among student credit cards, the Discover it® Student chrome is certainly one worth considering.
What we like about the Discover it® Student chrome
- Students earn 1% cash back on all purchases and 2% for purchases at restaurants and gas stations, where many college students tend to frequent
- Discover matches all the cash back earned at the end of the first year, giving cardholders some control over the bonus they receive
- Students get an annual $20 statement credit for earning a GPA of 3.0 or higher (limit of five years)
- Accounts have an on/off switch that’s easy to control, allowing cardholders to quickly disable their card if it’s lost
- Cardholders enjoy a 0% intro APR on purchases for the first six months (followed by the standard 19.49% Variable APR)
- Students gain free access to their FICO credit scores
Things to consider
- Discover cards aren’t as widely accepted as other major credit card networks, such as Visa and Mastercard
- If you’re hoping to move a balance over, you’ll have to pay 6 months balance transfer fee during the first six months and 19.49% Variable thereafter
- If you don’t own a vehicle or rarely eat out, the 2% cash back at restaurants and gas stations won’t be as useful for you
- The reward categories remain the same throughout the year
Discover it® Student Chrome cash back details
Discover’s cash back program is a great way to earn money on purchases you make during college. While you can earn more when you eat out and fuel up, you can also earn 1% cash back when you buy books, travel to visit family and all other purchases. Plus, Discover’s offer to match your first year’s cash back earnings (with no limit) at the end of the first year is a perk you don’t see with many other student credit cards.
The best way to maximize Discover’s cash back program is to use your card for as many purchases as possible, especially during the first year. However, keep in mind that you should be paying off your balance each month to minimize interest costs after the first six months.
Discover it® Student Chrome fees
The has no annual fee and no foreign transaction fees, which are added bonuses for college students on a budget. If you make a balance transfer, you’ll pay 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms). As for late payments, Discover waives the up to $39 fee for your first one. Discover’s late fee policy is considered generous since most credit cards charge you right off the bat. With this card, cash advances cost $10 or 5% of the amount, whichever is greater.
How does it compare to other student cash back credit cards?
The stands out among student cash back credit cards, thanks to its cash back rewards, unlimited cash back match offer and 0% intro APR rate for purchases for 6 months (then ongoing 19.49% Variable). However, if you’re still building up your credit or have no credit, the may be a better fit for you. It has more flexible approval requirements and offers an automatic credit line increase after making your first five on-time payments.
If you have good credit, the Bank of America® Cash Rewards Credit Card for Students is worth checking out. It has a higher earning potential than the Discover it® Student chrome, offers a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening and lets you choose the category in which you earn the maximum reward rate.
| Card | Ongoing Purchase APR | Annual Fee | Intro Bonus | Credit Needed | Key features |
|---|---|---|---|---|---|
| 26.99% (Variable) | $0 | NA | Average, Fair, Limited |
|
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| Bank of America® Cash Rewards Credit Card for Students | 15.49%-25.49% on purchases and balance transfers | $0 | Earn $200 after making $1,000 in purchases within your first three months; Introductory 0% APR for 15 months on purchases and balance transfers made within the first 60 days of having the card | Good |
|
| 19.49% Variable | $0 | Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched. | Fair/New to Credit |
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The bottom line
The is a competitive credit card for those headed off to college and just starting to navigate their own finances. It offers a generous rewards program, ranging from 2% cash back at restaurants and gas stations (unlimited 1% cash back on all other purchases) to the first-year match on all cash back earnings at the end of the year.
If you’re a student that doesn’t eat out or drive much, you may want to check out a student card that offers a more versatile cash back program like the Bank of America® Cash Rewards Credit Card for Students. If you are more challenged in the credit space, the may be the best fit.
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