CREDITSHOUT RATING:
Excellent
Verdict: If you are a student looking for a credit card to start building credit, the Discover it® for Students is the card for you. This card has the same rewards program as the standard Discover it card, meaning that it allows you to earn great rewards without having an established credit history.

Discover it for Students was created for students to help them start building credit. If you are a student and haven’t established your credit score, finding a good credit card can be a difficult process. The Discover it® for Students is a surprisingly good card and has a great rewards program that you can earn up to 5% cash back with on certain purchases.

Not only is the rewards program on this card good, but it has fairly low rates, and no over the limit fee, no foreign transaction fees, and no late fee the first time you miss a payment, which is almost unheard of for a credit card, let along a student credit card. A minor thing that I thought was actually pretty cool about this card was option to customize the art of the card. There are 10 different designs to choose from.


Discover it for Students Rewards Program

With the Discover it® for Students, customers earn 5 to 20 percent cash back when you sign up* on purchases made on Discover’s online shopping mall. Customers also earn 5 percent cash back on rotating categories.

The rotating categories are as follows:

  • January – March:Restaurants & Movies
  • April – June: Spring Style
  • June – September Summer Fun
  • October – December: Holiday Shopping

One percent cash back is offered on all other purchases and the rewards have no expiration date.

Interest Rate, Fees & Other Fine Print

Discover it for Students has no annual fee. For a complete list of updated rates and fees check the card website before you apply.

How Discover it for Students Compares To Other Student Credit Cards

Discover it for Students vs Capital One Journey Student Rewards Card

Overall, Discover it for Students is a better deal than the Capital One Journey Student Rewards Card. While the Capital One Journey Student Rewards Card offers 1 percent cash back on all purchases, it does not offer 5 percent on rotating categories. It does offer a 25 percent bonus on any cash back in the 1 percent category (most categories) if you pay your bill on time, effectively making it a 1.25 percent cash back offer. However, if you intend to make significant use of the 5 percent cash back feature that Discover offers, you’ll end up better off with That Card.

The only significant advantage that the Capital One Card offers is that it’s fees are a little lower in some categories. If you intend to make a balance transfer – which most students probably will not – there is no fee for doing so. The cash advance fee is also lower than the 5 percent offered by Discover, as it is 3 percent with Capital One. Overall, Discover offers a better deal to most students when comparing these two cards.


Discover it for Students vs Citi Forward for College Students Card

Discover it for Students also edges out the Citi Forward for College Students Card. However, this is not to say that Citi does not make a decent offer. Here are some statistics associated with the Citi Forward for College Students Card:

  • No co-signer required
  • $75 statement credit after $150 is spent on back-to-school items within the first 3 months
  • 1,000 bonus points for signing up for paperless statements
  • APR is reduced by .25 percent for 3 consecutive months of paying on time (up to 8 times or 2 percent)
  • No annual fee
  • 2 points for every dollar spent on dining, books, music and movies
  • 1 point for every dollar spent on all other purchases
  • Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.*
  • *Click “Apply” to see rates, rewards free FICO® Credit Score terms and other information.

The fees with this card are similar to those offered by Discover. However, the points system is a bit more restrictive than Discover’s cash back system. The points must be redeemed via CitiBank and it takes at least 1,000 points to pay for a reward. There is also a 75,000 yearly point limit. The points also expire after 5 years (sooner if you terminate the account). In other words, Discover offers a simpler, more flexible way to earn rewards than Citi does when comparing these two cards. After all, which would you rather have – points that are worth who-knows-what or cash back that you can do whatever you want with?

Discover it for Students vs Citi Platinum Select Visa Card for College Students

Discover it for Students blows away the Citi Platinum Select Visa Card for College Students. As mentioned, Discover offers numerous rewards with their Card. However, Citi offers no cash or points back on purchases with This Card. It is not a total loss, but it generally offers basic benefits that are available on most cards. It has a 0 percent introductory purchase APR for 7 months, but this is less than the 9 months offered by Discover. In a nutshell, the Discover Student More Card beats the Citi Platinum Select Visa Card for College Students in nearly every category.

Pros

  • Great rewards program allowing you to earn up to 5% cash back when you sign up*
  • No hidden fees with this card
  • Discover has an easy to use website that allows you to access your account and pay your bills online. You can also receive email reminders so you never are late with a payment
  • Through the Discover website you can shop at selected merchants and receive a 5-20% cash back Bonus at their exclusive online shopping mall. This is another great way to save money. Some of these partners merchants include Barnes and Nobles and FTD
  • No annual fee
  • Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.*
  • *Click “Apply” to see rates, rewards free FICO® Credit Score terms and other information.

Cons

  • If you’re not shopping through Discover’s website or within a rotating category, the cash back rewards are lackluster.
  • Balance transfers may not be accepted
Conclusion

Overall, Discover it for Students is good if you are a student and looking to build your credit. I was pretty impressed with the rewards program. The 5% cash back is a great incentive and there are enough merchants participating in the program to make it actually worth while. Although this card doesn’t have the lowest APR around for a student card its very good (its APR is about 1% lower than most other student cards). On an additional note, if you have been rejected for other cards because of your lack of credit,
you may want to try applying for this card.

Apply for Discover it® for Students

  • Credit Required
    Average Credit
  • Rewards Program
    5% cash back for online shopping and department store purchases on up to $1,500 – Oct. through Dec. 2014 when you sign up*. 1% cash back on all other purchases.
  • Signup Bonus
    0% Intro APR on Purchases for 6 Months*
    Then the variable purchase APR applies, currently 12.99% - 21.99%.

CreditShout Rating:
( Excellent )