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"Comparisons and secure applications of the best credit card offers online." |
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Additional Details, Terms and Conditions | |
| Category | Student |
|---|---|
| Status | Platinum |
| Introductory Percentage Rate | 0.00 |
| Introductory Time Period | 6.00 |
| Intro Applies To | Purchases |
| Intro Details | There is a 0% introductory APR* on purchases for 6 months. See terms and conditions for complete details. |
| APR for Purchases | 14.990 |
| Purchase Rate Type | Variable |
| APR for Cash Advances | 23.990 |
| Cash Advance Rate Type | Fixed |
| Finance Charge Calculation | Average Daily Balance (including new purchases) |
| Annual Fee | $0 |
| Additional Annual Fees | $0 |
| Annual Fee Detail | None |
| Grace Period | 25 Days (Min.) |
| Late Payment Fee | $19 on balances up to $250; $39 on balances over $250 |
| Over Limit Fee | $15 on balances up to $500; $39 on balances over $500 |
| Cash Advance Fee | 3%, $5 minimum |
| Balance Transfer Fee | None |
| Minimum Balance Transfer | $500 |
| Maximum Balance Transfer | $5,000 |
| Type of Reward | Rebate |
| Optional Reward | No |
| Rebate Minimum | .25% |
| Rebate Maximum | 5% |
| Additional Rebates | Earn a 5% Cashback Bonus® in popular categories that change four times a year like travel, gas, restaurants, movies, and more. Earn a 0.25% rebate at select warehouse clubs and discount stores. Earn up to double Cashback Bonus® at participating Discover Card Partners. |
| Rebate Details | Earn a 0.25% rebate for up to $1,500 in general spending; 0.5% for over $1,500 up to $3,000; and 1% for over $3,000. Reward is redeemable in $20 increments only. |
| Expiration | None (Account inactivity for more than 36 months could result in the forfeiture of some or all of the Cashback Bonus®.) |
| Yearly Limit | None |
| Bonus Approval | None |
| Bonus First Purchase | None |
| Bonus Balance Transfers | None |
| Bonus Annual | None |
| Bonus Other | None |
| Bonus Details | None |
| Additional Perks | Various card designs to select from. Various Internet account related services. No liability for unauthorized transactions. Discounts on products and services at participating merchants and retailers. See website for additional benefits. |
| Notations | See website for complete terms and conditions of card usage and application disclosure. |
| Features / Benefits: | More Ways to Earn More Cash than Anyone Else(SM)* |
| 1 | Unlimited Cash Rewards, Automatically |
| 2 | Up to 20% Cashback Bonus® When You Shop Online* |
| 3 | Double Rewards with More than 100 Cashback Bonus® Partners* |
| 4 | Customer Service in Less than a Minute, Anytime You Want |
| 5 | *View Discover® Card Rates, Fees, Rewards, and Other Important Information |
| Rating | 3.00 |
| Benefit Rating | 4.00 |
| Best Feature | 0% intro APR on purchases; double cash rebates at participating retailers and merchants (through the Cashback Bonus® award program); no annual fee. |
| Worst Feature | Low rate not available to all applicants. |
| Review | The Discover® Student Card, issued by Discover, is designed for students with very good credit who are looking for a cash reward credit card. Through the reward program, cardholders earn a 5% rebate for purchases made in popular categories that change four times a year such as travel, gas, restaurants, movies, and more. In addition, cardholders earn up to 1% for general purchases. Those who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a 1% rebate.* Cardholders also earn a 0.25% rebate at select warehouse clubs and discount stores, and they can earn a double Cashback Bonus® for redeeming their rebates for gift certificates from participating Discover® Card Partners. There is no yearly limit on the amount of rebates that can be earned, and rebates do not expire as long as the account is active within a 36-month period. Aside from the reward program, the card also provides platinum benefits, including online account management, no liability for unauthorized transactions, and discounts on products and services at participating merchants and retailers. The APR for this card is reasonable, but there is no annual fee and 0% interest on purchases for six months. Therefore, those who plan to spend over $3,000 a year (to earn the 1% cash rebate), plan to use their Cashback Bonus® award at participating retailers (to earn a full 5% rebate and double cash rebates), and plan to pay in full each month (to avoid costly finance charges) will benefit most from what the Discover® Student Card has to offer. Students who plan to carry a large balance should consider a lower interest rate card that applies the "Average Daily Balance" method. Any finance charges saved will be more than any cash rebates earned. *It is important to note that like many cash reward cards, the highest rebate offered will not apply to all purchases made with the credit card. In this case, 1% will be applied only to those purchases made after the cardholder spends over $3,000 in one year, so the overall cash rebate earned will be less than 1%, depending on the amount spent. For instance, if the cardholder were to spend $4,000, only $1,000 of this amount would be applied towards the 1% rebate. However, this does not take into account any promotional offers or the full 5% Cashback Bonus® award. |
| Date of Data Update | 2008-08-19 00:00:00 |
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