Discover It Student Chrome Credit Card Review
Looking for a credit card to kickstart your financial journey as a student? The Discover It Student Chrome might be your perfect match. With its impressive cashback rewards and no annual fee, this card offers a great opportunity to build your credit while enjoying some perks.
The Discover It Student Chrome credit card aims to simplify the journey by offering straightforward rewards and benefits tailored to young adults
Card Basics
Card Type: College student
Annual Fee: $0
Sign-up Bonus: Unlimited Cashback Match for all new cardmembers. Discover will match all the cash back earned at the end of your first year.
Rewards:
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases per quarter.
- 1% cash back on all other purchases.
APR:
- 0% intro APR on Purchases for 6 months.
- 10.99% intro APR on Balance Transfers for 6 months.
- 18.24%-27.24% Variable APR thereafter.
Pros and Cons
Pros
- No annual fee: Enjoy all the benefits without any yearly cost.
- Intro APR period: 0% intro APR on purchases for 6 months.
- Qualify with average credit: Ideal for students building their credit.
- Bonus categories: Earn more cash back on gas and dining.
Cons
- Complicated rewards: Keeping track of the quarterly limit on bonus categories can be tricky.
- Limited international acceptance: Discover is not widely accepted outside the U.S.
Benefits and Perks
Solid Rewards for a Starter Card
The Discover It Student Chrome offers a competitive rewards structure:
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter.
- 1% cash back on all other purchases.
Unlimited Cashback Match: Discover will match all the cash back you earn at the end of your first year. This is a lucrative offer as there’s no minimum spending requirement.
Light on Fees
- No annual fee: This is a significant advantage for students.
- No foreign transaction fees: Although Discover’s international acceptance is limited, there are no extra charges for using your card abroad.
- First late fee waived: If you miss a payment, you won’t be penalized the first time.
Introductory APR Period
Enjoy 0% intro APR on purchases for 6 months, allowing you to make significant purchases and pay them off over time without accruing interest.
Reporting to Major Credit Bureaus
Payments are reported to TransUnion, Equifax, and Experian, which helps you build your credit history. This is crucial for young adults starting to establish their credit profile.
Drawbacks and Considerations
Higher Rewards Available Elsewhere
If you’re looking for higher rewards, the Discover It Student Cash Back might be a better option. It offers 5% cash back on rotating categories but requires activation each quarter.
Limited International Acceptance
Discover cards are not widely accepted outside the U.S. If you plan to study abroad, consider a card like the Capital One Quicksilver Student Cash Rewards Credit Card, which has better international acceptance.
Compare to Other Cards
| Card | Annual Fee | Intro APR | Regular APR | Recommended Credit Score |
|---|---|---|---|---|
| Discover It Student Chrome | $0 | 0% on Purchases for 6 months | 18.24%-27.24% Variable APR | 630-689 (Fair) |
| Discover It Student Cash Back | $0 | 0% on Purchases for 6 months | 18.24%-27.24% Variable APR | 630-689 (Fair) |
| Discover It Secured | $0 | 10.99% on Balance Transfers | 28.24% Variable APR | 300-629 (Poor) |
FAQs
What are the rewards for the Discover It Student Chrome?
You earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases per quarter and 1% cash back on all other purchases.
Is there an annual fee for the Discover It Student Chrome?
No, there is no annual fee for this card.
What is the introductory APR offer?
The card offers 0% intro APR on purchases for 6 months and 10.99% intro APR on balance transfers for 6 months.
Does the card require a credit history?
No, Discover does not require a FICO credit history to apply for this card. However, approval is not guaranteed, and you must show proof of independent income if you’re under 21.
How does the Cashback Match work?
At the end of your first year, Discover will match all the cash back you’ve earned. For example, if you earn $100 in cash back, you’ll get an additional $100, making it $200.
Can I use the Discover It Student Chrome abroad?
While the card doesn’t charge foreign transaction fees, its acceptance outside the U.S. is limited. It’s best to check if Discover is accepted at your destination.
The Bottom Line
The Discover It Student Chrome is a fantastic choice for students looking to build their credit while earning rewards. With no annual fee, a straightforward rewards program, and an introductory APR period, it offers a lot of value. However, if you need higher rewards or plan to study abroad, you might want to consider other options. Overall, this card is a solid contender for any student’s wallet.
