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Easily one of the most rewarding student cards on the market, the Discover it Student Cash Back offers 5% back in quarterly rotating categories, up to $1,500 spent (then 1%; activation required). Discover will also double what you earn for your first year and give you a statement credit for good grades, all without an annual fee.
The Discover it Student Cash Back card is designed to help young people build credit. Student credit cards like these are made for people with limited or no credit, providing a way to start building a positive credit history.
Like the regular Discover it® Cash Back (Review), this student card comes with an appealing absence of fees and abundance of rewards. It offers 5% cash back in a variety of categories that rotate throughout the year, including many common purchases that most people make. This 5% rate is limited to the first $1,500 spent per quarter; after that, 1% cash back is earned (activation required).
Not only that, Discover will double the cash back you earn in your first year of use. That means you’ll effectively get 10% back on those purchases, and this is one of the best deals available on any credit card (which means it’s especially valuable on a student card).
The 5% cash back calendar for 2021 is:
|Quarter||5% Cash Back Categories|
|January – March||Grocery Stores, Walgreens, CVS|
|April – June||Gas Stations, Wholesale Clubs, Select Streaming Services|
|July – September||Restaurants, PayPal|
|October – December||Amazon.com, Target.com, Walmart.com|
You’ll also get a $20 annual Good Grade statement credit for getting good grades, for up to five years — you’ll need a 3.0 GPA to get that. And you can also check your FICO Score 8 any time you’d like, for free, based on your TransUnion credit report.