Discover it® Student Cash Back Review

Our Detailed Review of This Card

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The Discover it® Student Cash Back card is a great option for students with absolutely no annual fee that offers the same excellent cash back rewards and perks as a non-student card.

First off, cardholders can take advantage of 5% cash back (up to the quarterly max — currently $1,500 — then 1% back) in rotating quarterly categories and 1% cash back on all other purchases. Although you do need to sign up each quarter to get the 5% back, Discover features automatic emails you can register for that prompt you to sign up. Plus, Discover matches your cash back at the end of the first year. That means if you earned $150 at the end of year one, Discover will match that $150 and you'll earn a total of $300 cash back! On top of all that, the Discover it® Student Cash Back card also rewards you for good grades, with a $20 statement credit every school year your GPA is 3.0 or above for up to the next 5 years.

Additionally, the Discover it® Student Cash Back card has a 0% APR on purchases for 6 months. This 0% interest period can help you save money on any purchases you make in the first 6 months you have the card. There is also a balance transfer offer of 10.99% for 6 months (with a 3% balance transfer fee). Although this isn't a 0% interest period, it can still be helpful if you're carrying a balance on a high interest rate card.

Other card highlights include no foreign transaction fees (which can save you a lot of money on purchases made outside the U.S.), no late fee on your first late payment, no overlimit fee and paying late won't raise your interest rate. Plus you'll get free monthly TransUnion FICO scores, zero fraud liability, and a number of fun card art styles to choose from.

Also included is the Discover Freeze it feature, which let you "freeze" your account from your smartphone or computer if your card is misplaced. This is a terrific feature, especially when you're not sure exactly where your card is but you're not quite ready to call and have it cancelled. Freezing your account prevents new purchases, cash advances and balance transfers from being made.

Overall, the Discover it® Student Cash Back card is an ideal option for students, combining top cash back rewards with premium benefits.


  • Discover matches all the cash back you've earned at the end of your first year - automatically. Only for new cardmembers.
  • Good Grades Rewards: $20 statement credit each school year your GPA is 3.0 or higher for up to the next 5 years.
  • Earn 5% cash back (up to the quarterly maximum, currently $1,500) on purchases within select categories that rotate quarterly. Activation is required.
  • Earn 1% cash back on all other purchases, with no limit on how much you can earn.

Redeem Rewards
  • Rewards are redeemable in any amount at any time.
  • Deposit into your bank account or credit your Discover card account.
  • Pay for your purchases with cash back rewards. $1 cash back = $1 at checkout.
  • Use Apple Pay to make a purchase and then redeem your rewards as a statement credit against the purchase.
  • Turn your cash rewards into more when you redeem for gift cards or eCertificates from over 100 brand-name Partners.

Fees and APR
  • Annual Fee: $0
  • Foreign Transaction Fee: None.
  • Purchase APR: 0% for first 6 months, then 15.24% - 24.24% Variable, depending on creditworthiness.
  • Balance Transfer APR: 10.99% for 6 months, then 15.24% - 24.24% Variable, depending on creditworthiness.
  • Balance Transfer Fee: 3% of the amount of each transfer.
  • Terms and Conditions

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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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