Discover Student Credit Card Review 2016

Getting your first credit card as a college student may not be easy. In fact, because students often have a limited credit history, the cards aimed at them aren’t usually the best when it comes to rewards. However the Discover student cards are different. Here are three reasons why…

Reason #1: Way better rewards

There are two Discover cards designed for students: Discover it for Students and Discover it chrome for students. Here’s what the Discover it® for Students is giving for rewards…

  • 5 percent cash back in categories. You get new categories every quarter that you can sign up for.
  • 1 percent on everything else. You will always get at least 1 percent on everything else you buy.

As for the Discover it® chrome for Students, it’s offering:

  • A permanent 2 percent cash back on up to $1,000 in spending each quarter on combined gas station and restaurant purchases
  • 1 percent cash back on all other purchases

Reason #2: More benefits than most student cards

Both Discover student cards offer the following

  • Purchase Protection. In my opinion this is one of the most useful credit card benefits. With it, the eligible purchases made with your Discover card are protected for the first 90 days against theft or accidental damage, up to $500 in coverage per purchase.
  • Extended Product Warranty. On eligible purchases, Discover gives you an additional year of coverage on your existing warranty of 36 months or less. So let’s say you buy something, like a brand new iPad from the Apple store, that comes only with a one-year manufacturer’s warranty. In addition to that, you will have one year extra through Discover for no additional cost.
  • Return Protection. Ever try to return something but the store won’t take it back because more than 30 days have gone by since the purchase? The nice thing about this benefit is that you can return any qualifying purchase to Discover within 90 days for up to a $500 refund, even if the store won’t take it back. Keep in mind though that just like any return, you have to give back the item in like-new condition.
  • $0 Fraud Liability Guarantee. Don’t worry about getting scammed, because if your card or account number is ever used fraudulently, you won’t be responsible for those charges.

Reason #3: The fees are fair

  • No annual fee. Yep that’s right, you get all the above benefits for no additional cost.
  • No over-limit fee. You won’t get charged a fee if you go over your credit limit.
  • No foreign transaction fees. Many credit cards will charge you up to 3 percent extra when making purchases outside the U.S. That goes for purchases made when you are physically outside the U.S., but sometimes also for purchases you make online from overseas merchants. With Discover, however, you can use your card anywhere in the world without paying those fees (assuming the merchant accepts Discover).
  • No pay-by-phone fee. Need to make a payment by phone using your checking account? Some cards will charge you $5 or $10 bucks to do this, but not Discover.
  • Free FICO score on your monthly statement. This card gives you your real FICO score from TransUnion on your monthly statements. Considering the fact that you probably got a credit card to build your credit, being able to monitor your progress for free is a huge perk. That score would otherwise cost you $20 every time you check it.
  • No late fee on your first late payment. Normally, late payments can cost you up to $35 a pop. But with this card, at least you get one freebie. That’s definitely helpful during college finals when you may forget.
  • No interest rate increases for paying late. A lot of cards will jack up your APR if you ever pay late. This one won’t do that.

Compare the student credit cards for yourself…

student credit card comparison

Worried about your card not being accepted? Discover is accepted at more than 94 percent of the top 2,000 internet retailers and more than 8 million businesses. You can use them almost everywhere that takes Visa and MasterCard.

Best Sign-up Offers (updated January 2016)

You won’t find these promotions everywhere, but I’m listing both here so you can choose the one that’s best for your needs.

Discover it® for Students:
Offer #1: Get a 0 percent intro APR for 6 months on purchases. After that, it’s a standard variable purchase APR of 13.24 percent to 22.24 percent.

Discover it® chrome for Students:

Oh yeah, and here’s some important advice you not know about credit cards. In fact, a lot of old people don’t even know these things:

#1 – Build credit even without a balance
One of the reasons people start getting into debt is because they think it’s actually good for their credit score to have a balance. But this is completely wrong and doing so can actually harm your credit!

There is a huge difference between “carrying a balance” (allowing a balance to carry on past the due date and paying interest) and “reporting a balance” (having a balance when your billing cycle closes). When your billing cycle closes each month, the amount due is what’s reported to the credit bureaus. If you then pay that reported balance in full, you won’t have to pay interest, and you’ll get all the credit-building benefits.

So if you are regularly using your Discover card, you have the ability to build your credit… carrying a balance into the next billing cycle (and paying interest on it) offers absolutely no benefit to your credit score.

#2 – Carrying a large balance may hurt your credit
Even though you should let a balance report each month, keep it small.

The percentage of your credit limit you use – known as credit utilization – is factored into your FICO credit score. Having high utilization is actually bad. Banks like people that have a lot of credit but don’t use it! With the FICO formula, using above 30 percent of your credit limit may negatively affect your credit core.

The simple solution? Once you get your student credit card, always stay below 30 percent of your credit limit. Make multiple payments each month to keep it below that mark.

#3 – A better score means cheaper student loans
Let’s be honest here… college tuition is out of control! If you’re going to be taking out more loans to finish your degree, of course you want to get the best interest rate possible. Well, whether you get a good rate or bad rate depends on your credit score and history.

This is why it’s so important to not screw up with your new Discover student credit card, or any credit account for that matter. Use your cards responsibly – pay your bills on time and in full, and keep your credit utilization in check (as discussed above). Doing this will help build up your credit and you will be thankful for that when it comes time to get a loan.

 
Comments
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Students having better luck with Capital One? I have no credit history, but no one is mentioned how much income they put down? People that got accepted were they full-time or part-time? How much was the annual income for those who got accepted?

I put in the credit card finder tool on discover and it suggested this card i was turned down even though they this card was suggested so what good does the tool do? Still denied me probably hurt my credit also.

I applied and for TWO months they gave me a run around. I applied and 7 days later they said they couldn’t accept so I’d have to have a cosigner (reminder, I’m a college student with exactly 0 credit and my credit score is somewhere in the 650s according to what Discover sent me). So I sent in the information to have a cosigner and for a MONTH AND A HALF they said they never received my forms for cosigner and they said they sent the forms to me a second time (they did no such thing). I’m the end I still get denied even though my cosigner has great credit. Wth.

I’m an international student (full time) and I’ve been in the US for only 5 months so I have no credit history. I got approved after I provided my passport, SSN card and transcript.

Another Int'l one

Hi! How come you have the SSN while you are an international student?

Hi I am also international student, I had also applied for credit card but still got no reply.Can you please tell me credit limit for international students. Thanks

So can I apply for a discover credit card even if my home bank is wells Fargo?? Do I have to open another bank account?

I work full time and this is my second year as a part time student. I do not have any credit. Hence I need a credit card to build up my credit score. I know I will pay my payments in full I have enough resources. Crossing my fingers that discover sees it this way and I get accepted. Has anyone gotten accepted with no credit score?

Im in the same boat you…was there any luck applying??

I was just accepted and I have 0 credit! Hope you were accepted!

did you have to upload proof of your name and student status?

Hi, I’m an international student and it’s just going to be a year since I started my studies in the USA. I was wondering if it was possible to get the Discover student credit card. I do have an income since I work part time. And plus have an SSN. Is there a possibility to get rejected? what if I’m referred by a friend?

It might be hard since you’re an international student. Banks would prefer permanent residents or US nationals. Even Canadian citizens find it hard to be granted credit cards.. One thing is , with no credit history and an ”unstable” residency, it’ll be hard to get a credit card.The good thing is you can start with a secured card. It’s a form of credit card but it’s linked to your personal accounts. You will be given a credit lone based on the amount of money you deposit into your secured account. So you’re virtually spending your own money but on the other side you’re building your credit history . After six months , you can try out Disvover, capital or Citibank student cards.. hope this helps !!

I am a international student and I have a income of $48000 PA, I had no credit, its been an year in United States. I applies for C from Chase, Bank of America and Wells Fargo, all rejected. Since I had all the documents I took a chance with discover and they approved my CC instantly when they had all the documents. The Reps were ridiculously friendly. Try it out.

Might be a little late, but here it is. Even I’m an international student, I applied for discover card and got approved with 5 days! I just had to upload my driver license, transcript and ssn. Maybe I just got lucky, who knows. I know that doesn’t help that much, but totally worth giving a shot, especially there’s no deposit required

I applied for this card back in July got rejected built my credit and applied again and got approved for it and my credit score is 649

That’s good to know. I’ve just applied and my credit score is 659. Keeping my fingers crossed!!!

Emma lee Taylor

I want and need a credit card to help my credit score

I just applied for the discover it student card and got accepted. My question is, will my graduating affect the cards status or any problems in general?

I have a Cap One Journey card (just got it in Septemeber and always pay in full) with a balance currently that I’m paying on Friday when I get paid. I also have another credit card through my credit union that I used to totally fudge my credit score a few years back (now I’m making what payments I can every month to lower it but its still sitting at 1457 of the 1500 limit mind you I got hit with lots of 6 late fees). As of last week when I switched my CU CC to their rewards program they had to re pull my credit. So as of last week my Experian score was 557. I want to get the Discover It student but unsure if I should waste a credit inquiry. I also have a few medical bills in collection one utility and one old apartment(I refuse to pay the apartment due to the unsanitary conditions they provided, I left one month early from the lease). Should I garden a little longer or apply?

What info do i need to apply for a student credit vard

is there anyway that I can have the card for just six months?

I just got accepted for the discover more college card, but just realized this card is newer. does anybody know if I should even bother trying to switch to the new one or what? It looks as the only difference in the two college cards is the late fee… can anybody confirm that this is the only difference? If so, would it even be worth the effort to change cards (if thats even possible, is it?)? Thanks… BJ

Hey I have this credit card and it really is all that his review says it is. You do have to be currently enrolled in a college.

I attempted to apply a few months ago, got rejected, and so when my circumstances changed a few months later, I’m rejected yet again just because they’re factoring in something that happened the first time around? That’s bull.

If I don’t mind me asking, whoever was accepted for this card, what was your credit score.

Fair mid 600’s. Just got accepted for one.

I didnt have any credit and i was accepted

iam a first year student and i aplied 2weeks ago,credit score is 675.hoping to be excepted……i’ve aplied 3 time already…..

I have zero credit and I got accepted.

I’m a full time student but this is only my second year in America. I have no credit history. I applied for the discovery card and instantly got rejected. I put that my income is 0( which is technically true since I don’t work)
Anything I could do? How do new comers to America build credit??

Technically your grants and scholarships can be counted as income, so there is a good start.

Try a secured card from a bank you have an account on.

I opened mine with Bank of America with a $300 cl and deposit, that amount will be refunded to you at the 1 year anniversary.

I applied for an increase cl and got it to $500. Also, it didn’t require me to have a SS, since I am a International Student. It helped me to built credit which to my surprise was at 730s after 2 years of using a secured card.

I am actually only a high school student and will be attending college next year. Do you know if I am able to still qualify for this credit card? Oh yeah, and I am already 18!

I work full time and go to school off and on. Right now I’m out of school for the moment but I will be going back in the spring. Do I still qualify for a Discover student card?

That’s a good question. If you have deferred your school for a semester/quarter (which it sounds like you did) then I would imagine you should still qualify.