This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
The Discover it® Student Cash Back and the Discover it® Student Chrome cards are popular among college students for a reason — they’re notoriously easy to be approved for and offer some solid benefits. In addition to the usual perks that come with the cards, such as no foreign transaction fees and price protection, students get a $20 statement credit each school year (September to August) they earn a 3.0 GPA or higher for up to five years.
Depending on the school’s grading system, that equates to a “B” average or 85% if it’s based on a 0-100% scale. The good grades reward is available for the first five years an account is open, and luckily, it’s quick and easy for cardholders to request the statement credit.
First, you’ll need to log in to your Discover account, as the offer is not available over the phone. Once you’ve done that, scroll down to the “Your Shortcuts” section on the bottom left of the page and click on where it says “Good Grades Reward.”
You’ll then be asked for your school’s grading scale and a range of where your grades falls for any term within the current school year.
As long as the grades you provide meet the minimum, you’ll receive an instant approval and the statement credit will appear in your cash-back balance within within two billing periods. Discover primarily relies on the honor system for this program, but it may at its discretion request additional documentation to verify your grades.
The entire process takes less than one minute, so eligible students have no reason to pass up on this free money. As long as you qualify and remember to request the statement credit each year, you’ll be getting a total of $100 from this benefit across the five years. Between the good grades reward, 5% cash back in rotating categories, up to $1,500 each quarter you enroll and no annual fee, the Discover it® Student Cash Back in particular is an excellent pick for a college student’s first credit card.
Featured photo by Klaus Vedfelt via Getty Images.
Know before you go.
News and deals straight to your inbox every day.
NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards