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The Discover it for Students comes with cash back rewards, no annual fee, and a number of other benefits that make it easy for the cardholder to have all of the benefits that a quality credit card offers. Many student cards do not offer the perks that students need to save money, but this card does.
The Discover it for Students is a credit card that was created just for the college student who is working hard to advance their life forward. The last thing a college student needs is for their bills to be higher than they are when they are trying to buy books, pay their living expenses, and eat.
This Discover card takes a lot of the complication out of having a credit card with fewer fees and fewer technical elements. However, it does provide cardholders with the ability to earn cash back on purchases. There is a specific cash back percentage for everyday transactions, but there is a different percentage for transactions that belong in a specific category. Each quarter, the type of transaction is changed. For example, you may receive up to 5 percent cash back on gas purchases during the first quarter of the year to then save on holiday purchases the last quarter. Every quarter there is something new that will allow for even more savings that can go toward other expenses that are important.
Rewards Breakdown
The cash back rewards are simple. Simply check the website to see which transaction types will earn a higher percentage of cash back for that quarter. For example, holiday purchases may be the transaction type the last three months of the year and then the first quarter of the following year may be gasoline purchases. Whatever the type of transaction, students have the opportunity to earn more and this can help save money, offsetting some of the costs of college.
In addition to the rewards program itself, there is the CashBack Concierge that gives cardholders a one-on-one tour of everything the rewards program has to offer. This allows students to get the most out of their rewards so they can save the maximum amount of money. This money saved can help with living expenses, books, class supplies, gasoline, and other expenses that college students have to face. This can make the college experience much easier in a number of ways.
Introductory APR
The introductory APR covers a specific period of time and it is significantly lower than the Standard Variable APR that goes into effect after the introductory period. This introductory APR applies to purchases. Cash advances and balance transfers have their own APRs. However, balance transfers do have an introductory APR so that balances can easily be transferred from higher APR cards to this lower APR card. With the introductory APR, it becomes a lower APR than most credit cards a student may have. The savings that result can be in the hundreds or even thousands of dollars over time.
Once the APR returns to the standard variable rate, which is based on creditworthiness and the Prime Rate, you can avoid paying interests if you pay your entire balance off within 25 days of the statement cutting. If it is February, it is typically 23 days. By avoiding interest, you can still take advantage of the cash back rewards without having to pay to use the card in the way of APR. It is like getting money that is completely free.
Fees
This Discover card is also known as a card that doesn't fee its cardholders to the point they cannot afford the card or the fees cause them to have a balance that they are unable to handle. What makes the card easy to manage is the fact it does not have an annual fee. This is something that is important because this means that the cash back rewards pay for themselves in their entirety. If you make a late payment, you will find that no late fee will be assessed to the account when the first late payment is made. After the first late payment, if there is one on the account, the late fee will be assessed for subsequent late payments.
There is also no over the limit fee. The reason for this is due to the card being able to go over its credit limit on purchases. Even if a late fee would be the reason behind the card exceeding its limit, it does not accrue an over the limit fee. In other words, the days of the credit card company's fees causing more fees are over.
Another fee is the cash advance fee. There is a minimum fee in addition to the cash advance APR. The balance transfer fee works the same way, as the amount charged is a percentage of the transaction or a set dollar amount, depending on which is greater.
Lastly, there are no foreign transaction fees because the card is accepted anywhere discover is accepted.
Account Management
Management of the account is also easy in that you can call customer service any time you need assistance. Customer service is 100% based in the United States, which means there are no language barriers.
Cardholders are also able to access their accounts online so that they can check the balance, check their available credit, make a payment, look at electronic statements, check transaction histories, and check cash back rewards and other information pertaining to the card. This allows for responsible and effective card management so that the chances of late fees are reduced significantly.
Again, the payment can be made on the car up until midnight on the payment date. This payment can be made over the phone or online.
Conclusion
The Discover it for Students is a credit card that is going to help the student save money while enjoying all of the benefits that a cash back credit card has to offer. It is convenient to use, easy to understand, and it is affordable in the way of few fees, no annual fee, and the cash back rewards that it provides.
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