Good Grades Rewards: $20 statement credit each school year your GPA is 3.0 or higher for up to the next 5 years.Plus, earn unlimited 1% cash back on all other purchases - automatically. Earn 5% cash back on everyday purchases at different places each quarter like, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum, when you activate.Intro Offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically.Not many other student credit cards will give you the opportunity to earn this much cash back and also come with no annual fee. If you are heading off to college and looking for your first credit card, Discover it® Student Cash Back is an excellent choice. Just make sure everything is paid off at the end of 6 months so you avoid finance charges. This would be useful if you are expecting a large, upcoming expense. Once the introductory period is over, the APR will change to 12.99% - 21.99% Variable. With this card there is an introductory 0% APR for the first 6 months on purchases. Each year, over the next five years, that you earn a 3.0 or higher GPA, you will receive a $20 statement credit. Another nice feature for students is that you will be rewarded for your good grades. If you earn $200, then you will actually receive $400. All other purchases will receive 1% back.Īs a little added bonus, Discover will match all cash back that you earn during the first 12 months. It might be grocery stores or it could be at gas stations. With this card you will receive 5% cash back on rotating categories each quarter, up to $1,500. One of the best options is Discover it® Student Cash Back. The easiest way to do that is by using a student credit card. If you are looking to a travel card that doesn’t have an annual fee and gives you a simple way to earn rewards, then Discover it® Miles card is a great option.Ĭollege is the time that most young adults start building their credit. However, cards that give you the opportunity to transfer rewards to different loyalty programs can offer more value. For many, this can be beneficial because of its simplicity. They can be redeemed for either cash back or a statement credit on travel expenses. When it comes time to redeem your rewards, every 100 miles is worth $1. When compared to some of the premium travel cards, Discover it® Miles card doesn’t have nearly as many benefits for travelers. After the introductory period, the APR on both purchases and balance transfers will change to 13.49% - 24.49% Variable. If you need to transfer a balance the APR is 10.99% for the first 14 months. Have a large purchase that you need to make right away? You will receive an introductory 0% APR for the first 14 months on purchases. Not a bad perk for a card that has no annual fee. You will receive 1.5x miles on every purchase, and then Discover will match your earnings for the first 12 months. It’s the chance to have your miles doubled the first year. Instead you will find something that no other travel credit card offers. If you are looking for a credit card with a high sign-up bonus, then you won’t find it with Discover it® Miles. Not only can you earn up to 10% back the first year, but there is no annual fee. VerdictĬompared to most other cash back credit cards available, Discover it® Balance Transfer is one of the best available. If you don’t, you will only earn the standard 1% back. Something else to consider, is that each quarter you will need to opt into each of the bonus categories. After the 12-month period is over, Discover will calculate the total cash back earned and then issue your bonus cash back at that point. You will need to wait to receive your bonus. It might be pretty attractive that you can earn double cash back on all purchases for the first year, but there is one downside. That means when you earn 5%, you are actually going to receive 10% back on those purchases. Any purchases that falls outside of the bonus categories will receive 1% back.Īs a little added bonus, Discover is matching all the cash back that you earn for the first 12 months. One quarter it might be grocery stores and department stores, while the next quarter might be public transportation and wholesale clubs. When you have this card in your wallet you will be able to earn 5% or more back on the purchases that you make every day.Įach quarter Discover will assign different categories to earn 5% cash back on up to $1,500. That card is Discover it® Balance Transfer card. But there is one card that is still ahead of the pack. The competition for cash back credit cards has become stiff the past couple of years.
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