Full Review: Discover it® Student Chrome Credit Card

The Discover it® Student Chrome offers a robust and user-friendly platform for students looking to build credit while enjoying cashback rewards.

This card, tailored specifically for students, combines ease of use with effective rewards in popular spending categories such as gas and dining, making it an ideal starter card.

CreditFinder’s Rating: 4.8/5

Key Features of the Discover it® Student Chrome:

• Annual Fee: $0, making it financially accessible for students.
• Intro APR: 0% on purchases for six months and 10.99% on balance transfers for six months.
• Regular APR: Ranges from 18.24% to 27.24% Variable APR.
• Rewards: Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and 1% on all other purchases.
• Welcome Offer: Discover’s Cashback Match™ which matches all the cash back you’ve earned at the end of your first year.
• Credit Requirement: Available to students with no credit history.

Pros:

• Cashback Rewards: Earn 2% back at gas stations and restaurants which are significant categories for many students.
• Cashback Match: A unique introductory offer that doubles the rewards students earn in their first year.
• No Annual Fee: Makes it cost-effective for students managing their budgets.
• User-Friendly: Discover is known for its customer-friendly services including a mobile app that allows students to manage their accounts easily.

Cons:

• Limited International Usability: Discover’s network might not be as extensive globally, which could be a downside for students traveling or studying abroad.
• Basic Cardholder Benefits: Lacks the extensive travel perks or premium benefits that other student cards might offer.

Who Should Consider the Discover it® Student Chrome?

Budget-Conscious Students:

The Discover it® Student Chrome is ideal for students who are mindful of their spending and are looking for a simple rewards structure. With no annual fee and a clear cashback program, it helps students earn rewards on everyday spending without any complications.

Students New to Credit:

This card is a great starter card for students beginning their credit journey. It provides the necessary tools to build credit responsibly, including free access to your FICO score and low entry requirements in terms of credit history.

Students Who Spend on Gas and Dining:

With 2% cash back on gas and dining, this card is particularly beneficial for students who find themselves spending frequently in these categories, making it a practical tool for saving on essential expenses.

Detailed Analysis:

Rewards and Redemption:

The straightforward rewards system allows students to earn cash back on all purchases with enhanced rates for dining and gas. Rewards can be redeemed at any time for cash back, statement credits, or purchases on Amazon.com, providing flexibility.

Introductory APR:

The introductory APR period offers new cardholders the opportunity to make large purchases or balance transfers with the advantage of paying no interest for the first six months, a helpful feature for managing initial high-cost expenses like textbooks or a laptop.

Credit Building Capabilities:

Discover reports to the major credit bureaus, aiding students in building their credit history as they make timely payments. This is bolstered by educational resources provided by Discover to help students understand credit better.

Student-Focused Features:

Discover provides tools tailored to students, such as the Freeze It® on/off switch which allows cardholders to prevent new purchases on their card if lost or stolen directly from the mobile app, adding a layer of security and control.

Conclusion:

The Discover it® Student Chrome is an exemplary choice for students looking to enter the world of credit cards. Its combination of a no-fee structure, simple yet rewarding cashback program, and credit-building tools make it a compelling option for students across the board. While it may lack some of the advanced features of more premium cards, its strengths lie in its simplicity and effectiveness, particularly suited to the lifestyle and financial realities of students.