Discover it^® Student Cash Back Review [2024]: A+ Rewards for Savvy Spending

Cash Back for Those New to Credit

Discover it^® Student Cash Back

4.5

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Discover it^® Student Cash Back

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Rates and fees

Current Offer

Discover will match all the cash back you’ve earned at the end of your first year.

Annual Fee

$0

Rewards Rate

Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.

Benefits and Drawbacks

Benefits

• Intro APR on purchases
• 5% cash back in rotating bonus categories, up to a quarterly maximum when you activate
• Discover will match all the cash back you’ve earned at the end of your first year.
• $0 annual fee

Drawbacks

• You must be a student

Card Details

• INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
• Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
• Redeem your rewards for cash at any time.
• No credit score required to apply.
• Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
• No annual fee and build your credit with responsible use.
• 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.
• Terms and conditions apply.

Key takeaways

• The Discover it^® Student Cash Back is a cash back credit card that helps cardholders earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
• The rotating categories can help students earn higher rewards on common spending. However, these categories require activation every quarter.
• This credit card comes with additional benefits, such as free access to your credit score, identity theft protection, and credit report monitoring.
• Discover cards aren’t as widely accepted abroad as Mastercard or Visa cards. If you plan to travel with the Discover it^® Student Cash Back, make sure to have a backup travel credit card with you.

Who should get the Discover it Student Cash Back card?

The Discover it Student Cash Back card is perfect for students who are willing to put in some effort to maximize their credit card rewards.

That's because this card's rewards program provides the ability to earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. To get the most from this card, you need to be willing to activate the quarterly bonus and keep track of which spending provides the highest rewards.

As an added bonus, Discover will match all the cash back you’ve earned at the end of your first year.

Discover it^® Student Cash Back basics

Why we like the Discover it Student Cash Back: benefits and perks

• Flexible cashback rewards: You can earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. This gives you the ability to earn elevated rewards on different categories each quarter once you activate them.
• Generous welcome offer: With this card, Discover will match all the cash back you’ve earned at the end of your first year. There are no limits, and you don't have to do anything to sign up for this offer.
• Free credit scores: Track how your credit score is changing with a free score available on your monthly statement or by signing into your Discover account using your online or mobile app.
• 0% intro APR on purchases: Benefit from 0% introductory APR on new purchases charged to your Discover it Student Cash Back card for the first 6 months that you're a cardmember (then 18.24% - 27.24% Variable). Keep in mind that this card doesn’t offer intro APR for balance transfers.
• $0 annual fee: This card comes with a $0 annual fee, which makes it an easy card for students to keep year after another.
• No fee on the first late payment: This card waives the first late payment fee. However, you'll need to pay a late payment fee of up to $41 if you miss a subsequent payment.
• Identity theft protection tools: Not only does Discover monitor for suspicious activity, but you can also use Discover’s Freeze it® feature to immediately prevent any new transactions on your card.
• Additional monitoring tools: With this card, you'll also get Experian credit report monitoring, so Discover will notify you if someone opens a new account in your name. It also alerts you if your Social Security number appears on the dark web.

What we don’t like about the Discover it Student Cash Back: drawbacks

• Limited acceptance abroad: Discover cards aren't as widely accepted as American Express, Mastercard, and Visa cards. If you plan to travel, you'd likely be better off bringing a backup card to ensure you have more than a single payment option at your destination.
• Quarterly spending categories require activation: While this card offers a high cashback rate in bonus categories each quarter, you need to remember to activate the quarterly categories.
• Spending cap for the 5% cashback rate: There typically is a maximum for the quarterly spending that earns 5% cash back when you activate. If you spend beyond that maximum, you’d only earn 1% cash back.

Earning & redeeming cash back

Best ways to earn

The best ways to earn cash back on the Discover it Student Cash Back card is to activate the quarterly bonus categories and spend within those categories each quarter.

Keep in mind that Discover will match all the cash back you’ve earned at the end of your first year. You'll also want to keep this cashback match in mind to maximize your earnings in the first year.

Maximizing your redemptions

The Discover it Student Cash Back Card provides cash back you can redeem as statement credits, deposits to your bank account, gift cards, Amazon.com purchases, or purchases via PayPal. Cash back can be redeemed at any time and doesn't expire as long as your account remains active.

The nice thing about the fact the card offers cash back, rather than points or miles, is you don't have to figure out the most strategic way to redeem to maximize the value of your rewards. You can simply claim the cash back you earn.

Just remember that enrollment is required to activate the bonus categories every quarter to maximize your rewards. There's also a quarterly maximum spend cap, after which all other purchases earn 1% cash back.

For 2024, the bonus spending categories are:

For 2023, the bonus spending categories were:

Discover it Student Cash Back card FAQ

Other cards to consider

While the Discover it Student Cash Back Card is a great card for building credit and getting rewarded on your everyday purchases, it isn't the only student card out there. Consider these credit cards to use while you are in school:

Capital One SavorOne Student Cash Rewards Credit Card: Unlike the Discover it Student Cash Back, this card doesn't provide rotating cash back. Instead, you'll earn 10% cash back on purchases made through Uber & Uber Eats (through 11/14/2024); 8% cash back on Capital One Entertainment; 5% on hotels and rental cars booked through Capital One Travel; 3% on dining, entertainment, streaming services, and grocery stores (excluding superstores such as Walmart® and Target®); and 1% on all other purchases. This is a great fit for students who are into live music, sporting events, and dining out.

Chase Freedom Rise℠: This card provides a lower rewards rate — earn 1.5% cash back on all purchases. However, there's no limit on what you can earn. Cardholders can also earn $25 statement credit for enrolling in automatic payments within the first three months of account opening. While this card can help you build credit, the Discover student card offers better rewards.

Cash Back for Those New to Credit

Discover it^® Student Cash Back

4.5

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Discover it^® Student Cash Back

4.5

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Apply Now

Why We Like It

Discover will match all the cash back you’ve earned at the end of your first year.

Rates and fees

Apply Now

See how these cards compare:

Capital One SavorOne Student Cash Rewards Credit Card

• Welcome bonus: Earn a one-time $50 cash bonus after spending $100 in the first 3 months
• No annual fee
• 3% unlimited cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®)
• 8% cash back on Capital One Entertainment
• Automatic consideration for a higher credit limit after 6 months
• No foreign transaction fee

Journey Student Rewards from Capital One

• Earn 1% cash back on all purchases
• Boost cash back up to 1.25% on all purchases each month you make an on-time monthly payment
• None annual fee

Discover it^® Student Cash Back: bottom line

The Discover it^® Student Cash Back can be a great fit for college students who want to earn rewards on their daily purchases.

It offers a robust rewards program, allowing students to earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. The card also features an introductory APR offer on purchases, and it has a $0 annual fee.

This card also offers a Cashback Match™ at the end of your first year, free credit score tracking, and identity theft monitoring. However, the bonus categories require quarterly activation, and they have a maximum spending cap.

Learn how to get a student credit card or explore more options in our list of the best credit cards for students.

Cash Back for Those New to Credit

Discover it^® Student Cash Back

4.5

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Discover it^® Student Cash Back

Apply Now

Rates and fees

Current Offer

Discover will match all the cash back you’ve earned at the end of your first year.

Annual Fee

$0

Rewards Rate

Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.

Benefits and Drawbacks

Benefits

• Intro APR on purchases
• 5% cash back in rotating bonus categories, up to a quarterly maximum when you activate
• Discover will match all the cash back you’ve earned at the end of your first year.
• $0 annual fee

Drawbacks

• You must be a student

Card Details

• INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
• Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
• Redeem your rewards for cash at any time.
• No credit score required to apply.
• Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
• No annual fee and build your credit with responsible use.
• 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.
• Terms and conditions apply.