Which Credit Cards Are For High School & College Students?
The Discover it® for Students card pays back up to 5% on purchases; makes bonus cash payments at the end of each year; and, sends you cash for earning a 3.0 GPA.
Discover it® for Students Card – Credit Card Highlights
The Discover it® for Students card is a high-reward cash back credit card available to students (and non-students) who are at least 18 years old.
High school students can use the Discover it® for Students card as their first credit card; and, college and trade school students can do use it as well.
The card comes pre-loaded with student-friendly features. It stands out among its cohorts for its cash back features and leniency toward late payments.
The card carries no annual fee.
Some of the key benefits of the Discover it® for Students card include:
- 5% cash back on categories of purchases, including restaurants, gas stations, or Amazon.com
- Annual bonus cash for earning a 3.0 GPA
- $0 fraud liability, which means you never pay for unauthorized purchases
- No change in your APR after a late payment
- Zero fees for “foreign transactions” made in other countries
Plus, at the end of your first year with the card, Discover adds up the cash back rewards you earned from spending, then sends you a bonus cash back reward for that same amount.
Earn $1,000 in cash back rewards between now and next year and Discover will double the amount to $2,000.
Students: Get A Credit Card In Your Name
For many people, getting a credit card in their own name is the first “adult” financial responsibility of their lives. It’s a valuable one, too.
Credit cards make it possible for you to buy things online, to shop at brick-and-mortar stores more easily, and to limit your trips to the ATM — all of which are good things.
More importantly, though, getting a credit card in your own name helps you build your personal credit rating.
Your good credit rating is a signal to banks, insurance companies, and institutions. It shows that you’re likely to repay loans, to avoid excessive insurance claims, and to pay your bills on-time.
The reward for a good credit rating is better interest rates, cheaper insurance premiums, and a simpler life. Having a good credit rating helps you to live where you want to live and to bypass security deposits on things like cell phones and utilities.
These benefits may not matter to you as a student, but they will definitely matter to you when you’re living on your own and earning an income. Wasting money on higher rates and insurance costs because of bad credit is less-than-optimal when you’re trying to save for retirement, or put money toward buying a home.
Having good credit might even help you get a job because employers can check credit history as part your job interview.
These are all reasons to get a credit card in your name as early as you’re eligible — at the age of 18 — and to use your first credit card responsibly.
It doesn’t matter how much you buy with it, either. Even buying one cup of coffee with your credit card once every month will help you build good credit.
Just pay your credit card bill in full when the monthly statement arrives because that compels the credit card company to file a “paid on-time” report to the credit agencies responsible for calculating your rating.
As you accumulate months that are paid on-time, your credit score can climb.
All About: The Discover it® Student Card
The Discover it® for Students card is a high-value cash back credit card.
There’s no annual fee to use the card and no limit to how much cash back you can earn. The more you use the card, the more money you’ll get back in return.
Cash back rebates with the card range from one percent to 5% of all purchases.
To earn $1 back on every $100 spent, use your card normally. Fill your car with gas, pay for lunch at a restaurant, renew your Netflix subscription — everything gets you money back.
Meanwhile, at the start of each quarter, Discover assigns bonus cash back to specific types of shopping which may include grocery stores, gas stations, Amazon.com, and others.
When you shop at these stores, your cash back bonus increases to $5 for every $100 spent.
That’s like getting an instant 5% off everything you buy.
Discover it® For Students Card
High cash back rewards aren’t the only reason to like the Discover it® for Students card.
When you keep the Discover it® for Students card in your wallet, you get access to a host of student-friendly benefits, too.
As one notable example, Discover won’t hold you responsible for charges made while your card was out of your possession, including when it’s lost, left behind, or stolen. All fraudulent charges get waived.
And related to unauthorized charges, should you ever lose your card and want a replacement immediately, Discover will ship one to you, overnight, at no cost, to wherever you are.
The Discover it® for Students card also helps you build your credit.
As a credit card meant for students 18 years of age or older, the Discover it® for Students card gives its cardholders complimentary access to FICO credit score to help monitor and maintain good habits; and, prints the key factors that can help you improve your overall rating.
Credit bureaus charge $15 or more for this type of service. Discover it® for Students card holders get their FICO scores for free.
The card is no annual fee.
Learn More About Discover it® for Students Card
The Discover it® for Students card offers big cash back rewards to students, and a long list of benefits including late payment forgiveness, credit score monitoring, and no annual fee.
Apply for the card today.