Discover Student Credit Card Bonus: 5% Cashback
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Discover Bank, a leading provider of cash back credit cards, currently has a fairly nice bonus offer for their new student “mix tape” credit card customers. From April until June, card members can earn 5% cash back bonus on up to $400 in home and fashion purchases. This reward structure rotates between different sets of category purchases. After the fashion related bonus ends in June, the 5% cash back can then be applied to gas, hotels and movies throughout the summer (through September), the categories then shift back to fashion and restaurant purchases next Fall.
**** The “Mix Tape” student credit card by Discover was the winner of a card design contest and it received roughly a quarter of a million votes! ****
The student credit card by Discover Bank also features a nice 0% APR intro rate for the first 6 months. The APR then moves to the standard variable rate of between 15.99 and 19.99% APR. We would discourage students from taking cash advances however, because the APR associated with them is a much higher 23.99% APR. It also comes with a default rate of up to 20.99% variable and up to 24.99% variable for purchases (up to 28.99% variable for cash advances).
This card is a decent way for students to start building some credit, however, don’t get sucked into overspending during the promotional 0% intro APR period because the default rate after the promotion could hit you pretty hard. Or, if you are already in some credit card debt, check out our top 3 cards for rebuilding credit. We suggest using this card primarily for emergencies and the cash back category purchases, but be sure to pay your balance in full and on time! Check out our top 5 rewards categories for cash back credit cards.
Other Facts from the Fine Print…
Your due date is at least 25 days after the close of each billing period. They will not charge you periodic finance charges on new purchases, or any portion of a new purchase, paid by the due date on your current billing statement if you paid your entire balance on your previous billing statement in full by the due date on that statement.
This card comes with zero annual fees, cash advance transaction fees of 5% for each cash advance, with a minimum of $10 and no maximum. It also has a late fee of $19 on balances up to $250 and $39 on balances over $250.
Student Card by Discover – Features in Foucs:
- Build your credit with our contest-winning student card design – 250,000 votes on 7,000 submissions resulted in the new Mix Tape. Get yours today!
- 5% Cashback Bonus® in categories like travel, gas, groceries, restaurants, and more
- 5% to 20% Cashback Bonus® through our exclusive online shopping site
- Up to 1% unlimited Cashback Bonus® on all other purchases
