Discover it Student chrome Review 2023

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Trust takes time to build, and credit, at its core, is a form of trust. Banks need to see a record of on-time payments before they'll approve you for the best credit cards, which is why many students have a more limited selection of cards to choose from. That makes the Discover it® Student chrome an interesting option.

It's worth noting that this student credit card is nearly identical to the regular Discover it® chrome in almost every way, with the addition of a few student-specific perks that we'll get to in a minute. 

Discover it Student chrome Review: Is It the Best Credit Card for You?

With the Discover it® Student chrome, you'll earn 2% cash back on your first $1,000 in combined purchases each quarter (then 1%) at gas stations and restaurants. None of Discover's cards charge an annual fee, which is appealing to students who may have less disposable income. You'll earn 1% back on all other purchases.

This almost goes without saying, but the Discover it® Student chrome is best for ... students. If you're not currently in school but interested in a card like this, you're better off applying for the regular Discover it® chrome. 

Even if you are a student this may not be the best card for you. There are plenty of good no-annual-fee cards that are easy to get approved for with limited credit, even if they don't have the word "student" in the name. Make sure you sit down and look at your spending patterns to determine whether this is the most rewarding card for you.

If you're interested in a simple, no-hassle cash-back credit card, the Discover it® Student chrome is a good option. But if you're looking to start accumulating travel rewards, there are better options to consider.

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Discover it Student chrome Rewards

Discover it Student chrome welcome bonus offer

Discover doesn't offer a big flashy welcome bonus on its credit cards. Instead, you're eligible for Discover Cashback Match, meaning Discover will match all the cash back you earn, dollar-for-dollar, at the end of your first year.

This means your earning rate on gas and dining goes up to 4% for the first year (on your first $1,000 in combined purchases each quarter). The Discover it® Student chrome normally earns 1% back on all other purchases, but that effectively gets doubled to 2% for the first year.

Whether or not this is a good offer depends almost entirely on how much you expect to spend in your first year, but one nice thing about Cashback Match is that it's not all or nothing. Traditional credit card bonuses require you to spend a certain amount of money over your first few months with the card. If you hit the mark, you get the bonus. If not, you don't.

Cashback Match means you won't have to keep an eye on the calendar or carefully add up your transactions to see if you're on track — so one less thing to worry about.

How to earn rewards with the Discover it Student chrome

The card's earning structure is straightforward, though you'll have to keep an eye on the quarterly spending cap. Cardholders earn:

• 2% cash back at gas stations and restaurants on the first $1,000 in combined spending each quarter (then 1%)
• 1% cash back on all other purchases

If you spend a lot on gas and dining, you could do quite well with this card. But if you don't spend in these categories, a different card will serve you better.

How to use rewards from the Discover it Student chrome card

The Discover it® Student chrome is all about simplicity, and that applies to redeeming your rewards as well. Discover makes it easy to cash out for a statement credit or to pay when checking out with Amazon or PayPal.

Unlike some other cards, there's no minimum amount required to start redeeming your rewards. Rewards don't expire, but if you close your account or don't use the card for 18 months Discover will automatically cash them out for you.

You can also use your rewards (starting at $5) for gift cards or eCertificates from partner merchants. In addition, you can donate your rewards to select charities, with a minimum donation of 1 cent:

Discover it Student chrome Benefits and Features

Outside of the Cashback Match offer and 2% bonus categories, there are a few perks that help the Discover it® Student chrome stand out from the regular Discover it® chrome.

0% introductory APR on purchases

The Discover it® Student chrome comes with an introductory Discover it® Student chrome (then a Discover it® Student chrome APR). Zero-interest credit card offers like this are helpful if you have a lot of expenses to pay for upfront (like textbooks or supplies) that you need a little more time to pay off.

Just be sure you have the ability to pay off your balance before the promotional APR period expires, otherwise, you could be on the hook for hefty interest charges.

Late payment forgiveness

Discover also understands that many of the people who apply for this card may have never had a credit card before. While credit cards aren't all that complicated to use, it does take some adjustment if you're switching over from using a debit card for everything.

That's why Discover will waive the late fee on your first late payment (afterward a fee of up to $41 applies), giving you a chance to learn the important lesson of paying your bills on time without any penalty.

Free FICO score

Discover it® Student chrome cardholders can access their FICO score for free at any time through their online account. This makes it easy to keep an eye on your credit score and how it's changed over time.

Unique card designs

When you apply for the Discover it® Student chrome, you can choose from a number of colorful card designs that you don't usually find on credit cards from other issuers.

What cards compete with the Discover It Student chrome Card?

Just because you're a student doesn't mean you can only apply for "student" credit cards.  In fact, there are two great no-annual-fee cash-back cards that give the Discover it® Student chrome a run for its money, and also make great starter cards for students. 

The first is the Chase Freedom Unlimited®, one of the first cards I was approved for during my second year of college. The Chase Freedom Unlimited® offers a welcome bonus of Chase Freedom Unlimited® and earns 5% back on travel purchases through Chase, 3% on dining and drug stores, and 1.5% cash back on all other purchases.

While it's billed as a cash-back card, it earns rewards in the form of Chase Ultimate Rewards® points. Given the low cap on the Discover it® Student chrome's 2% category, most people will likely come out ahead using the Chase Freedom Unlimited® and earning a minimum of 1.5% back everywhere.

If you decide to start pursuing travel rewards, you can hold on to these points instead of cashing them out. Then, once you start to build a credit history you can apply for a Chase Sapphire Preferred® Card (currently offering a whopping Chase Sapphire Preferred® Card) and transfer your points from the Chase Freedom Unlimited® to the Chase Sapphire Preferred® Card, and on to Chase's incredible collection of hotel and airline transfer partners.

Next up is the Citi® Double Cash Card, which functions quite similarly to the Chase Freedom Unlimited® as a no-annual-fee cash-back card that can also be used to earn travel rewards, in this case by pairing it with the Citi Premier® Card or Citi Prestige® Card.

As the name suggests, the Citi® Double Cash Card effectively earns 2% back on all purchases (1 point per dollar when you buy and another 1 point per dollar when you pay your bill). This is an incredibly compelling offer for a no-annual-fee cash-back card, especially when compared to the Discover it® Student chrome's relatively lower earning rates.

The Citi® Double Cash Card currently offers an introductory Citi® Double Cash Card, then a Citi® Double Cash Card APR.

Discover it Student chrome Annual Fee and Other Costs

The Discover it® Student chrome doesn't charge an annual fee or foreign transaction fees. New cardholders get a Discover it® Student chrome (then a Discover it® Student chrome APR), so try to avoid carrying a balance after the no-interest period expires,

There are other scenarios where you might pay a fee, including:

• Late payment fee: $0 on the first occurrence, then up to $41
• Returned payment fee: Up to $41
• Balance transfer fee: Intro fee of 3% of the amount of each transfer for transfers that post to your account by July 10, 2023, with the 10.99% intro APR balance transfer offer described above (after that, 5% of the amount of each transfer)
• Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater

How the Discover it Student chrome Compares

Discover it Student chrome vs other Discover cards

Discover it Student chrome vs other student credit cards

*3% and 2% cash-back categories on the Bank of America® Customized Cash Rewards Credit Card for Students on up to $2,500 in combined spending each quarter, then 1% cash back

*** Exclusions apply

Discover it Student chrome Frequently Asked Questions (FAQ)

Is the Discover it Student chrome only for students?

The Discover it® Student chrome - Product Name Only is available to students who are enrolled in college or university and at least 18 years of age. You may be asked for proof of enrollment.

What credit score is needed for the Discover it Student chrome?

You don't even need an established credit history to be considered for the Discover it® Student chrome - Product Name Only, as long as you meet other underwriting criteria. Discover will look at all the information you submit on your application to evaluate your creditworthiness, including your credit score if you have one. 

What's the difference between the Discover it Student Cash Back and Discover it Student chrome?

Both the Discover it® Student chrome - Product Name Only and Discover it® Student Cash Back - Product Name Only are meant for current college or university students. The main difference between them is in how they earn cash back.

The Discover it® Student chrome - Product Name Only earns 2% cash back at gas stations and restaurants on up to $1,000 in combined spending each quarter (then 1%), and 1% cash back on all other eligible purchases. Meanwhile, the Discover it® Student Cash Back - Product Name Only earns 5% cash back in categories that rotate each quarter on up to $1,500 in combined spending when you activate (then 1%) Discover It Cashback rotation, and 1% cash back on all other eligible purchases.

Does the Discover it Student chrome help me build credit?

Yes, when you use it responsibly. Opening a student credit card like the Discover it® Student chrome - Product Name Only can help you build a positive credit history and credit score. Discover will report your account activity to the three major credit bureaus. If you pay your bill on time, pay at least the minimum payment each month (ideally, more than that), and avoid carrying a balance, you could see an increase in your credit score and be able to qualify for more credit in the future.

Methodology: How we reviewed the Discover it Student chrome

Insider's experts evaluated the Discover it® Student chrome - Product Name Only in comparison to other student credit cards that earn rewards, including from other banks. Some of the factors we considered include:

• Ease of use — Are the card's earning rates straightforward, and is it easy to redeem rewards? Are there any restrictions or hoops to jump through?
• Earning potential — Are the card's earning rates and bonus comparable to similar cards? If there are bonus categories, are they useful for students, and are any capped at a maximum amount of spending?
• Benefits — Many student credit cards are light on benefits. Does the card have perks that make it stand out?
• Fees — Most student credit cards don't charge an annual fee, but are there other fees to be aware of? Does the card waive the late payment fee on your first late payment?

To learn more about our methodology, read about how we rate credit cards at Insider.