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The Discover it® Student Cash Back Card is more than just a tool for building credit—it’s also packed with rewards that can make every purchase more valuable. Let’s dive into the specific perks you can enjoy with this card.

5% Cash Back on Rotating Quarterly Categories

One of the most enticing features of the Discover it® Student Cash Back Card is the 5% cash back offered on rotating quarterly categories. After activation, you can earn this elevated cash back rate on purchases in categories that change every three months. Whether it’s grocery stores, gas stations, restaurants, or even online shopping, these categories are designed to align with typical student spending habits.

Quarterly Maximum

Keep in mind that the 5% cash back applies to up to $1,500 in purchases each quarter. Once you hit that limit, you’ll still earn unlimited 1% cash back on additional purchases in those categories. By tracking your spending and maximizing these categories, you can significantly boost your cash back earnings.

Unlimited 1% Cash Back on All Other Purchases

For all other purchases outside the quarterly categories, the Discover it® Student Cash Back Card offers unlimited 1% cash back. This means every swipe, tap, or click adds up, making it rewarding to use your card for everyday expenses like textbooks, takeout, or transportation.

Discover’s Cashback Match™

As if earning cash back wasn’t enough, Discover takes it a step further with their Cashback Match™ program. At the end of your first year as a cardholder, Discover will automatically match all the cash back you’ve earned. This means if you’ve accumulated $200 in cash back, Discover will match it, giving you a total of $400. It’s an excellent way to maximize your rewards during your first year without any extra effort on your part.

Overall, the rewards and benefits of the Discover it® Student Cash Back Card are designed to make your financial journey as a student more rewarding and manageable. By taking advantage of these features, you can not only build your credit history but also enjoy substantial cash back on your everyday purchases.

Building Credit Responsibly

Regular, On-Time Payments Help Build Credit History

Establishing a strong credit history is crucial for students, and the Discover it® Student Cash Back Card is designed to assist in this journey. One of the primary ways to build credit responsibly is through regular, on-time payments. Consistently paying your balance on time not only helps you avoid interest charges but also positively impacts your credit score. This habit demonstrates financial responsibility, which lenders look for when evaluating creditworthiness.

0% Intro APR on Purchases for 6 Months

Another appealing feature for students is the 0% intro APR on purchases for the first six months. This means you won’t accrue interest on your purchases during this period, giving you some breathing room as you adjust to managing a credit card. After the initial six months, the standard variable APR will apply, so it’s important to plan your finances accordingly. Using this introductory period wisely can help you make necessary purchases while you begin to establish your credit history.

No Annual Fee

The Discover it® Student Cash Back Card also boasts no annual fee, making it an economical choice for students. Many credit cards come with annual fees that can add up over time. By eliminating this cost, Discover ensures that students can focus on building credit without worrying about additional expenses. This is particularly beneficial for those who are just starting their financial journey and might have limited income. By combining these features—regular, on-time payments, a 0% intro APR for six months, and no annual fee—the Discover it® Student Cash Back Card offers a balanced approach to building credit responsibly while reaping significant rewards. 

Considerations for International Students

No Foreign Transaction Fees

One of the shining features of the Discover it® Student Cash Back Card is its lack of foreign transaction fees. This can be a real money-saver if you plan to make purchases outside the U.S. without worrying about extra charges on each transaction. Many cards impose a fee of around 3% on international purchases, so having no additional costs is a considerable benefit.

Limited Acceptance Outside the U.S.

While the absence of foreign transaction fees is appealing, it’s important to note that Discover cards are not as widely accepted internationally as Visa or Mastercard. In many countries, you might find that some merchants do not accept Discover. It’s always a good idea to have a backup card, preferably a Visa or Mastercard, to ensure you can make purchases without any issues when traveling abroad.

Backup Card Options

Considering a backup card such as a Visa or Mastercard can provide peace of mind when studying or traveling overseas. These cards often have broader acceptance worldwide, allowing for smoother transactions in various countries. Look for student-friendly options that offer similar benefits, like cash back rewards or no foreign transaction fees.

Studying Abroad Considerations

If you’re an international student or planning to study abroad, it’s vital to weigh your credit card options carefully. While the Discover it® Student Cash Back Card offers fantastic benefits domestically, its limited acceptance overseas can pose challenges. Evaluating all available student credit cards based on your specific needs and travel plans will help you make an informed decision. In summary, while the Discover it® Student Cash Back Card has numerous advantages like no foreign transaction fees and valuable rewards, its limited acceptance outside the U.S. may necessitate carrying an additional card for global use.