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|Card / Notes||Bonus / Annual Fee|
|Discover it® for Students|
Earning rate: 5X in rotating categories, up to $1500 spend per quarter
Noteworthy Perks: Discover Cash Back is worth more than face value when redeemed for partner gift cards
|Get $50 after first purchase. All cashback earned in first 12 months will be doubled including 5% earned in rotating categories. Plus, get $20 cash back each school year your GPA is 3.0 or higher for up to the next 5 years.
No annual fee
FM Mini Review: In my opinion this is the single best "starter card" for students. It offers great rewards and no annual fee.
The Discover It for Students Card earns 5% cash back in rotating categories each quarter, up to $1500 in spend. Outside of the 5X categories, the card earns only 1% cash back.
That said, this card has a number of great things going for it:
- No annual fee
- No foreign transaction fees
- Good Grades Rewards: $20 cash back each school year your GPA is 3.0 or higher for up to the next 5 years.
- Double Cash Back First Year: Discover will double all cash back earned the first year. This means that for the first year, you get 10% cash back within rotating categories and 2% cash back everywhere else. That’s excellent. Plus, Discover has a pretty good cash back portal, Discover Deals. And, all cash back earned through the portal is doubled as well!
- Discover Cash Back is worth more than face value when redeemed for partner gift cards instead of cash.
This is a great choice for students looking for their first (or second, or third…) card.