If you are a student looking for a credit card that can help you build credit while earning cash-back rewards and building good credit history, the Discover it Student Cash Back Credit Card is worth considering. This credit card is designed specifically for students, offering a range of benefits that can help you save money and build your credit history and offers a range of rewards that can help you save money on your everyday purchases.

Pros and Cons of Discover It Student Cash Back Credit Card Card

Here are the pros and cons of Discover it Student Cash Back Credit Card Card. In the following discussion, we will also evaluate how does Discover It Student Card differs from other Card providers:

Pros:

Cash back rewards program

One of the most significant benefits of the Discover it Student Cash Back Credit Card is its cash-back rewards program. With the activation of your card, you can receive 5% cash back on categories that vary every quarter, up to the quarterly maximum. This means you can earn cash back on gas, groceries, restaurants, etc. On top of that, you'll get 1% cash back on anything else you buy.

The 5% cash back categories rotate each quarter and include popular spending categories like restaurants, grocery stores, gas stations, and Amazon.com. You'll need to activate the types each quarter to earn the cash back, but this can be done easily through your online account.

In addition to the variable cash-back categories, the Discover it Student Cash Back Credit Card provides cardholders with a cash-back match after the completion of their first year of card membership. In other words, Discover will double the cash back you earn at the conclusion of the first year. Discover will match any amount, up to their full funding amount.

Cash back match

At the end of your first year, Discover will match all the cash back you've earned, effectively doubling your rewards. There is no limit to how much Discover will match, making this a great way to maximize your rewards.

Good Grades Reward

Another unique feature of the Discover it Student Cash Back Credit Card is the Good Grades Reward. If you maintain a GPA of 3.0 or higher, you can earn a $20 statement credit each school year. This is an excellent incentive for students to keep up their grades and stay on track academically.

No annual fee

The Discover it Student Cash Back Credit Card has no annual fee, so you won't have to worry about paying an extra fee just for the card. This is a great benefit for students on a tight budget who want to avoid unnecessary costs.

Credit Score Monitoring

Discover provides free access to your FICO credit score, so you can keep an eye on your credit and track your progress. This can be a valuable tool for students who are just starting to build their credit history and want to keep track of their progress.

Free Social Security Number Alerts

Discover monitors thousands of risky websites and will alert you if your Social Security number is found on one of them. This can help protect you from identity theft and give you peace of mind knowing that your personal information is secure.

Freeze It

If you lose your card or suspect fraud, you can quickly freeze your account with the Freeze It features, available in the Discover mobile app or website. This can help protect your account from unauthorized use and give you peace of mind.

Cons:

Limited acceptance

Discover is less widely accepted than other credit card brands, so you may run into situations where you can't use your card. This is especially true if you are traveling outside of the United States.Discover's acceptability is significantly lower in other countries compared to that of MasterCard and Visa. Therefore, despite Discover's card not imposing any fees for making purchases in a foreign country, you should not plan to spend an entire semester away from home with only this card. However, some Student cards are accepted at a broader range of locations and don't charge any fees for purchasing abroad. It increases benefits for spending money on dining out, grocery shopping, and entertainment.

High APR

The Discover it Student Cash Back Credit Card APR can be high, especially if you have a less-than-perfect credit score. This means that you could pay a lot of interest if you carry a balance from month to month.

Rotating categories

While the 5% cash back categories rotate each quarter, you must activate the types each quarter to earn the cashback. This can be a hassle if you forget to activate the categories, and you may miss out on rewards. However, the cashback offered by Discover provides substantial recurring benefits, but its changing bonus categories can take time to manage and maintain. Let's suppose an individual has applied for the Citi Rewards along with SM Card available for students if you are looking for a card that provides bonus categories that do not change. When you spend USD 6,000 annually for the first time, you'll get two bonus points as gratitude for every $1 you spend at groceries and petrol stations and 1 point for every $1 you spend everywhere else.

Late payment fee

If you miss a payment, you will be charged a late payment fee, which can be as high as $40. This can be a costly mistake, so it's important to make sure you pay your bill on time each month.

No intro APR

The Discover it Student Cash Back Credit Card does not offer an intro APR period for balance transfers or purchases, so you will start accruing interest immediately.