How are students supposed to build credit if banks only give cards to people with good credit scores? Meet the Discover it® Student Cash Back card.
I thought I needed good credit to get a good credit card
In most cases, that’s true. That’s exactly what makes this Discover student card so special. Students with limited credit or even no credit at all are still eligible for approval. In addition to a fairly clean credit report, to get this card you’ll need U.S. citizenship, a Social Security number (SSN), and enough annual income that you can prove (think pay stubs) to pay at least the minimum amount due each month.
Ok, so I’m eligible. But why this one?
Classically, student credit cards have been so stripped down that they didn’t offer much more than convenience over cash. But this card offers many of the same features and rewards as conventional credit cards. The game-changing difference is that this rewards card allows students who haven’t yet had the chance to build up significant credit histories to get approved too.
Let’s talk turkey. What kind of benefits?
- An UNLIMITED cashback match.
- on purchases, then the standard purchase APR of applies.
- Annual Fee
Unlimited? For real?
Yep. This is a truly strong introductory offer because the amount of cash back you earn (the first reward) then gets DOUBLED (the second reward) after your first year of membership. That’s without surpassing a minimum and without staying under a maximum. Your cash back match is only limited by the amount you choose.
I assume this is only good at the University bookstore or something?
Wrong. You can use the Discover it® Student Cash Back card anywhere you choose, not where the fancy finance people choose. It’s accepted nationwide by 99% of the places that take credit cards. There’s always that one guy who just isn’t having it, you know?
How, exactly, do they take advantage of students new to building credit?
In order to build a relationship with customers that will last, Discover has added features that actually watch out for customers new to credit. For example, there’s no late fee on the first late payment and no APR change for paying late. There’s also a cool Freeze It® feature that lets you toggle an on/off switch to prevent new purchases, cash advances, and balance transfers in seconds.
Hmm. What’s next?
Clicking APPLY NOW will show you all the detailed rewards information, FICO® Credit Score terms, and the lowdown on the Cashback Match details. Good luck! And remember…try not to schedule any early classes.