# altcoin / # bitcoin / # blockchain / # exchange / # events / # ICO / # trends / # finance / # Russian news

Discover it Student Chrome card review: Up to 2% cash back on gas and dining and rewards for good grades

 Discover it® Student chromeSummary List Placement

Review: Is the Discover it Student Chrome the best credit card for you?


Trust takes time to build, and credit, at its core, is a form of trust. Banks need to see a record of on-time payments before they'll approve you for more premium credit cards, which is why many students have a more limited selection of cards to choose from. That makes the Discover it® Student chrome an interesting option.


It's worth noting that this card is nearly identical to the regular Discover it® chrome in almost every way, with the addition of a few student-specific perks that we'll get to in a minute. 


With the Discover it® Student chrome, you'll earn 2% cash back on your first $1,000 in combined purchases each quarter (then 1%) at gas stations and restaurants. None of Discover's cards charge an annual fee, which is appealing to students who may have less disposable income. You'll earn 1% back on all other purchases.


Read more: The best cash-back credit cards


The card also gives you an incentive to do well in school. Each year you maintain a GPA of 3.0 or higher, you'll receive an annual Good Grade Reward of a $20 statement credit, for up to five years.


Cashback Match: A unique welcome offer


Discover doesn't offer a big flashy welcome bonus on its credit cards. Instead, you're eligible for Discover's Cashback Match, meaning Discover will match all the cash back you earn, dollar-for-dollar, at the end of your first year.


Read more: Discover Cashback Match is a unique program that matches your credit card rewards after your first year, and it couldn't be easier to use


This means your earning rate on gas and dining goes up to 4% for the first year (on your first $1,000 in combined purchases each quarter). The Discover it® Student chrome normally earns 1% back on all other purchases, but that effectively gets doubled to 2% for the first year.


Whether or not this is a good offer depends almost entirely on how much you expect to spend in your first year, but one nice thing about Cashback Match is that it's not all or nothing. Traditional credit card bonuses require you to spend a certain amount of money over your first few months with the card. If you hit the mark, you get the bonus. If not, you don't.


Cashback Match means you won't have to keep an eye on the calendar or carefully add up your transactions to see if you're on track — so one less thing to worry about.


Who should and shouldn't consider the Discover It Chrome for Students


This almost goes without saying, but the Discover it® Student chrome is best for ... students. If you're not currently in school but interested in a card like this, you're better off applying for the regular Discover it® chrome


Even if you are a student this may not be the best card for you. There are plenty of good no-annual-fee cards that are easy to get approved for with limited credit, even if they don't have the word "student" in the name. Make sure you sit down and look at your spending patterns to determine whether this is the most rewarding card for you.


Read more: The best credit cards for students


If you're interested in simple, no-hassle cash back, the Discover it® Student chrome is a good option. But if you're looking to start accumulating travel rewards, there are better options to consider.




Comparison: Discover it Student Chrome vs other Discover cards





















































 

Discover it® Student chrome



Discover it® Student Cash Back



Discover it® Secured Credit Card



Annual fee



Discover it® Student chrome



Discover it® Student Cash Back



Discover it® Secured



Rewards rate



2% cash back at gas stations and restaurants on up to $1,000 in combined spending each quarter (then 1%)


1% cash back on all other eligible purchases



5% cash back in categories that rotate each quarter on up to $1,500 in combined spending when you activate (then 1%) Discover It Cashback rotation


1% cash back on all other eligible purchases



2% cash back at gas stations and restaurants on up to $1,000 in combined spending each quarter (then 1%)


1% cash back on all other eligible purchases



Welcome bonus



None, but Discover offers dollar-for-dollar match of all cash earned the first year



None, but Discover will match all the cash back earned at the end of your first year



None, but Discover will match all the cash back earned at the end of your first year



Card benefits



$20 Good Grade Reward as a statement credit each year your GPA is 3.0 or higher for up to 5 years


Free FICO score


No late payment fee on your first late payment (then up to $40)



$20 Good Grade Reward as a statement credit each year your GPA is 3.0 or higher for up to 5 years


Free FICO score


No late payment fee on your first late payment (then up to $40)



Free FICO score


After eight months, Discover will review your account and credit history monthly and may refund your security deposit



Introductory 0% APR offer



0% APR on purchases for the first six months (then Discover it® Student chrome)



0% APR on purchases for the first six months (then Discover it® Student Cash Back)



N/A



Foreign transaction fee



No



No



No



Review


 

Discover it Student Cash Back card review



Discover it Secured card review



Comparison: Discover it Student Chrome vs other student credit cards















































 

Discover it® Student chrome



Journey® Student Rewards from Capital One®



Bank of America® Customized Cash Rewards Credit Card for Students



Annual fee



Discover it® Student chrome



Journey® Student Rewards from Capital One®



$0



Rewards rate



2% cash back at gas stations and restaurants on up to $1,000 in combined spending each quarter (then 1%)


1% cash back on all other eligible purchases



1% cash back on all purchases (1.25% cash back if you pay on time that month)



3% cash back in the category of your choice (gas, online shopping, dining, travel, drugstores, or home improvement/furnishings)*


2% cash back at grocery stores and wholesale clubs*


1% cash back on all other eligible purchases



Welcome bonus



None, but Discover offers dollar-for-dollar match of all cash earned the first year



N/A



$200 in cash rewards after spending $1,000 on purchases in the first 90 days of account opening



Card benefits



$20 Good Grade Reward as a statement credit each year your GPA is 3.0 or higher for up to 5 years


Free FICO score


No late payment fee on your first late payment (then up to $40)



$5 per month credit toward select streaming subscriptions for 12 months (when you pay on time)


Free credit monitoring with CreditWise from Capital One



Free FICO score



Introductory 0% APR offer



0% APR on purchases for the first six months (then Discover it® Student chrome)



N/A



0% APR on purchases and cash advances (made in the first 60 days of account opening) for the first 15 billing cycles (then a 13.99% - 23.99% variable APR)



Foreign transaction fee



No



No



Yes



*3% and 2% cash-back categories on the Bank of America® Customized Cash Rewards Credit Card for Students on up to $2,500 in combined spending each quarter, then 1% cash back


How to use rewards from the Discover it Student Chrome card


The Discover it® Student chrome is all about simplicity, and that applies to redeeming your rewards as well. Discover makes it easy to cash out for a statement credit or to pay when checking out with Amazon or Paypal.


Unlike some other cards, there's no minimum amount required to start redeeming your rewards. Rewards don't expire, but if you close your account or don't use the card for 18 months Discover will automatically cash them out for you.


You can also use your rewards (starting at $5) for gift cards or eCertificates from partner merchants. In addition, you can donate your rewards to select charities, with a minimum donation of 1 cent:



Discover it Student Chrome card benefits and features


Outside of the Cashback Match offer and 2% bonus categories, there are a few perks that help the Discover it® Student chrome stand out from the regular Discover it® chrome.


Good Grade Reward


Discover it® Student chrome cardholders are eligible for a Good Grade Reward, which gives you a $20 statement credit every year you earn a GPA of 3.0 or higher for up to five years.


0% introductory APR on purchases


The Discover it® Student chrome comes with an introductory 0% APR on purchases for the first six months (then Discover it® Student chrome), which is helpful if you have a lot of expenses to pay for upfront (like textbooks or supplies) that you need a little more time to pay off.


Read more: The best 0% APR and low-interest credit cards


Just be sure you have the ability to pay off your balance before the promotional APR period expires, otherwise, you could be on the hook for hefty interest charges.


Late payment forgiveness


Discover also understands that many of the people who apply for this card may have never had a credit card before. While credit cards aren't all that complicated to use, it does take some adjustment if you're switching over from using a debit card for everything.


That's why Discover will waive the late fee on your first late payment (afterwards a fee of up to $40 applies), giving you a chance to learn the important lesson of paying your bills on time without any penalty.


Free FICO score


Discover it® Student chrome cardholders can access their FICO score for free at any time through their online account. This makes it easy to keep an eye on your credit score and how it's changed over time.



Unique card designs


When you apply for the Discover it® Student chrome, you can choose from a number of colorful card designs that you don't usually find on credit cards from other issuers.


What cards compete with the Discover It Student Chrome Card?


Just because you're a student, doesn't mean you can only apply for "student" credit cards.  In fact, there are two great no-annual-fee cash back cards that give the Discover it® Student chrome a run for its money, and also make great starter cards for students. 


Read more: The best rewards credit cards in 2021


The first is the Chase Freedom Unlimited®, one of the first cards I was approved for during my second year of college. The Chase Freedom Unlimited® offers a welcome bonus of Chase Freedom Unlimited® and earns 5% back on travel purchases through Chase, 3% on dining and drug stores, and 1.5% cash back on all other purchases.


While it's billed as a cash-back card, it earns rewards in the form of Chase Ultimate Rewards points. Given the low cap on the Discover it® Student chrome's 2% category, most people will likely come out ahead using the Chase Freedom Unlimited® and earning a minimum of 1.5% back everywhere.


If you decide to start pursuing travel rewards, you can hold on to these points instead of cashing them out. Then, once you start to build a credit history you can apply for a Chase Sapphire Preferred® Card (currently offering a whopping Chase Sapphire Preferred® Card after you spend $4,000 on purchases in the first three months), and transfer your points from the Chase Freedom Unlimited® to the Chase Sapphire Preferred® Card, and on to Chase's incredible collection of hotel and airline partners.


Read more: Chase Freedom Unlimited card review


Next up is the Citi® Double Cash Card, which functions quite similarly to the Chase Freedom Unlimited® as a no-annual-fee cash-back card that can also be used to earn travel rewards, in this case by pairing it with the Citi Premier® Card or Citi Prestige® Card.


As the name suggests, the Citi® Double Cash Card effectively earns 2% back on all purchases (1% when you buy and another 1% when you pay your bill). This is an incredibly compelling offer for a no-annual-fee cash-back card, especially when compared to the Discover it® Student chrome's relatively lower earning rates.


Read more: Citi Double Cash card review


The Citi® Double Cash Card currently doesn't have a welcome bonus, but it does offer an introductory 0% APR for the first 18 months on balance transfers (then a Citi® Double Cash Card).


Discover it® Student chrome

Discover it Student Chrome card fees and costs


The Discover it® Student chrome doesn't charge an annual fee or foreign transaction fees, and you won't pay a late fee on the first occurrence (after that, you'll pay up to $40).


New cardholders get a 0% APR on purchases for the first six months (then Discover it® Student chrome). 


Read more: The best credit cards without foreign transaction fees


There are also fees for balance transfers, returned payments, and cash advances, similar to other credit cards.


Ethan Steinberg is an award-travel expert who loves helping readers leverage their credit card rewards for luxurious international travel on a budget.


Related Product Module: Related Product Credit CardsRelated Content Module: More Credit Card Coverage

Join the conversation about this story »

NOW WATCH: Sneaky ways Costco gets you to buy more