Claim your good grades reward from Discover in less than a minute
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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, students get a $20 statement credit each school year (September to August) they earn a 3.0 GPA or higher for up to the next 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.
You can submit your grades anytime from May through August. 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. Heck, your $20 credit could be enough to book a flight during one of JetBlue’s or Frontier Airlines’ frequent flash sales. 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 spent on purchases 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.
This card from Bank of America gets really interesting if you have a BofA checking, savings or investment account. Depending on the value of your combined accounts you can potentially get as much as 3.5x points on travel/dining and 2.625x points on other purchases making it the richest consumer banking bonus out there.
- Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
- Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
- If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
- No limit to the points you can earn and your points don't expire
- Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill accounts, or gift cards or purchases at the Bank of America Travel Center
- Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
- No Foreign Transaction Fees
- Low $95 annual fee