Discover it^® Student Cash Back Review [2024]: The Perfect Starter Card?

Discover it® Student Cash Back basics

Eligibility requirements

Not surprisingly given the name of the card, you do need to be a student to be eligible. More specifically, you need to be enrolled in a 2- or 4-year college or university.

You don’t need a credit score to be approved. Discover does say that it looks at “the preceding 12 months” of application data. For example, they’ll consider your income, and you do need to have some form of income to be approved for the card. If you have a credit score, that will be considered when Discover reviews your application.

You also need to be at least 18 years old. If you’re under 21, you’ll need to have a cosigner on the application. This doesn’t have to be a parent or guardian, though, so you could reach out to a different responsible adult. They do need to be over 21. This isn’t a Discover requirement — it's required by law (specifically the CARD Act).

If you’re looking for a good first credit card and you aren’t a student, your options depend on your credit score. A good bet if you have limited credit history is a secured credit card like the Discover it^® Secured Credit Card. You do have to make a security deposit, but it could help you establish your credit history.

Who should get the Discover it Student Cash Back card?

You should get the Discover it Student Cash Back card if it aligns with your spending. Unfortunately, that’s a little challenging to know because Discover only reveals one upcoming high-earning category at a time. But we can look at what categories are on the docket for 2023 and 2024 to get a sense of whether they’re a match.

For 2023, the bonus spending categories were:

Here are the 2024 bonus spending categories:

Whether these categories are useful depends on your situation.

• If you live off-campus and commute, you’ll likely find the gas station and public transit and Walmart and grocery store spending useful since you have to get to and from school and make your own food.
• If you live on campus, the main category you’ll likely find useful is Walmart for helping to equip your dorm room for the upcoming year.
• If you dine off-campus, you could offer to pick up the tab if restaurants are a high-earning category and have your friends Venmo or CashApp you their share of the bill to take advantage of the rewards.

The other determiner for whether you should get this card is whether you’re willing to put in some effort to maximize your credit card rewards.

That's because to get the most from this card, you need to activate the quarterly bonus and keep track of which spending provides the highest rewards. And while that’s an annoying feature, it’s one that you can overcome by setting a calendar reminder.

That said, not everyone wants to deal with that, and that’s completely understandable. If you want to keep things simple, the Discover it^® Student Chrome allows you to earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases. And as with the Discover it Student Cash Back, Discover will match all the cash back you’ve earned at the end of your first year.

Other notable benefits

• Free credit scores: Track how your credit score is changing with a free score available on your monthly statement or by signing into your Discover account using your online or mobile app.
• 0% intro APR on purchases: Benefit from 0% introductory APR on new purchases charged to your Discover it Student Cash Back card for the first 6 months that you're a cardmember (then 17.49% - 26.49% Variable *Rates as of December 12, 2024). 
• No fee on the first late payment: This card waives the first late payment fee. However, you'll need to pay a late payment fee of up to $41 if you miss a subsequent payment.
• Identity theft protection tools: Discover monitors for suspicious activity, and you can use Discover’s Freeze it® feature to immediately prevent any new transactions on your card.
• Additional monitoring tools: With this card, you'll also get Experian credit report monitoring, so Discover will notify you if someone opens a new account in your name. It also alerts you if your Social Security number appears on the dark web.

Drawbacks

• Limited acceptance abroad: Discover cards aren't as widely accepted as American Express, Mastercard, and Visa cards. If you plan to travel, you'd likely be better off bringing a backup card, like the Capital One SavorOne Student Cash Rewards Credit Card, to ensure you have more than a single payment option at your destination.
• Spending cap for the 5% cashback rate: There typically is a maximum for the quarterly spending that earns 5% cash back when you activate. If you spend beyond that maximum, you’d only earn 1% cash back.

Earning & redeeming cash back

Best ways to earn

The best way to earn cash back on the Discover it Student Cash Back card is to activate the quarterly bonus categories and spend within those categories each quarter.

Keep in mind that Discover will match all the cash back you’ve earned at the end of your first year. You'll also want to keep this cashback match in mind to maximize your earnings in the first year.

Maximizing your redemptions

The Discover it Student Cash Back Card provides cash back you can redeem as statement credits, deposits to your bank account, gift cards, Amazon.com purchases, or purchases via PayPal. Cash back can be redeemed at any time and doesn't expire as long as your account remains active.

The nice thing about the card's offering cash back rather than points or miles is that you don't have to figure out the most strategic way to redeem or maximize the value of your rewards. You can just claim the cash back you earn.

Discover it Student Cash Back card FAQ

Bottom line

The Discover it Student Cash Back has a lot to offer — 5% on rotating categories each quarter, on up to $1,500 in purchases when you activate and 1% on all other purchases. But Discover chooses the categories, and you have to remember to activate them. If you don’t mind those aspects of the card, it could be a very good first card, especially since Discover will match all the cash back you’ve earned at the end of your first year.

But if that doesn’t feel right for you, consider one of our other picks for a good first credit card.

Cash Back for Those New to Credit

Discover it^® Student Cash Back

4.75

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Discover it^® Student Cash Back

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Rates and fees

Current Offer

Discover will match all the cash back you’ve earned at the end of your first year.

Annual Fee

$0

Rewards Rate

Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Benefits and Drawbacks

Benefits

• Intro APR on purchases
• Excellent welcome offer
• Can help you remove personal info from people-search websites
• Useful redemption options, including on Amazon and PayPal
• $0 annual fee

Drawbacks

• You must be a student at a 2- or 4-year college or university
• Discover isn’t accepted quite as widely as Visa or Mastercard abroad
• You have to activate the highest earning categories each quarter

Card Details

• INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
• Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
• Redeem your rewards for cash at any time.
• No credit score required to apply.
• Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
• No annual fee and build your credit with responsible use.
• 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 17.49% - 26.49% applies. Rates as of December 12, 2024.
• Terms and conditions apply.