The Discover Student credit card is a financial product designed specifically for college students, offering various benefits such as cashback rewards, financial education resources, and credit building opportunities. By responsibly using a Discover Student credit card, students can build their credit history, which is essential for future financial activities like leasing an apartment, applying for a mortgage, or securing a car loan. The card also provides a 0% introductory APR for 6 months on purchases, after which the standard variable purchase APR applies. With no annual fee, no foreign transaction fees, and a first late payment waiver, the Discover Student credit card is a cost-effective option for students.
Apply For Discover Student Credit Card
The Discover student credit card after graduation is primarily designed for students. To qualify for a Discover student credit card, an individual must be at least 18 years old, enrolled in a two- or four-year college, a U.S. citizen, have a Social Security number, and have verifiable independent income, such as a part-time job. While the card is aimed at students, some individuals without a credit score may also qualify, as Discover considers all the information provided on the application, credit report, and other relevant information when evaluating creditworthiness. Therefore, while the card is intended for students, there may be some flexibility in the application process.
Discover Student Credit Card Benefits
The Discover student credit card offers several benefits tailored to students. These benefits include:
Cash Back Rewards: Cardholders can earn 5% cash back on everyday purchases at different places each quarter, such as grocery stores, restaurants, and gas stations, up to the quarterly maximum when activated. Additionally, they can earn unlimited 1% cash back on all other purchases.
Financial Education and Resources: Discover provides access to financial education and resources online, via an app, or by phone, which can be beneficial for students who are new to credit and financial independence.
Credit Building: Using a student credit card responsibly can help students build their credit history, which is essential for various future financial activities such as leasing an apartment, applying for a mortgage, or securing a car loan.
No Annual Fee and Other Perks: The Discover Student Cash Back card has no annual fee, no foreign transaction fees, and offers a first late payment waiver, making it a cost-effective option for students.
These benefits make the Discover student credit card a valuable tool for students to not only make purchases but also to start building a positive credit history and earn rewards in the process.
Discover Student Credit Card Interest Rate
The interest rate for the Discover student credit card, specifically the Discover it® Student Cash Back card, is a variable APR of 18.24% – 27.24% based on the cardholder’s creditworthiness. Additionally, the card offers a 0% intro APR for 6 months on purchases, after which the standard variable purchase APR will apply. It’s important to note that the APR is variable and can change based on the Prime Rate.
Discover Student Credit Card Credit Score Needed
The minimum credit score required to qualify for a Discover student credit card is not explicitly specified by Discover. However, the credit score needed to qualify for the Discover Student Cash Back card is reported to be a FICO score of 700 or higher, which means applicants need at least good credit to get the card. While there is no minimum credit score requirement mentioned for the Discover Student Cash Back card, it is recommended to have a credit score of at least 670 to increase the chances of approval.
In summary, the minimum credit score required to qualify for a Discover student credit card varies depending on the specific card, but a FICO score of 700 or higher is generally considered sufficient for the Discover Student Cash Back card.
