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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.
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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.
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