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Discover® Student More Card Review

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Editor's Rating:
Intro Purchase APR Regular APR Intro Balance Transfer Annual Fee Credit Needed
N.A. $0* Good
Feature Summary
  • 0% intro APR on purchases for 9 months, then the variable standard purchase APR of 12.99% - 18.99%*
  • 5% Cashback Bonus® in categories that change throughout the year like gas, groceries, restaurants, department stores and more. Signing up is free and easy each time. And you'll earn 5% on up to the quarterly maximum*
  • Every single purchase automatically gets Cashback Bonus®
  • $0 Fraud Liability- you will not be responsible for unauthorized charges
  • No Annual Fee
  • Sign up to receive text and email alerts
  • Click apply to view rates, fees, rewards, limitations and other important information
Executive Summary - Update - As of 2013, Discover has replaced this card with the Discover IT Card for student. Perhaps the best student credit card on the market today. This is the student version of their consumer card and the features are almost taylor made for the student.

This card is the student version of the Discover More Card. In fact, it has very similar features as the regular version. Here is a quick recap again.

Let us look at this card in greater detail.

Rebate Formula - The Discover Card for Student allows you to earn cash rebates. You can earn 1% rebate once your annual expenditure on your card exceeds $3,000. Your first $1,500 in purchases earn .25% and your second $1,500 in purchases earn .50%.

5% Cash Rebate for various categories on a rotating basis - Discover gives 5% rebates on various categories that rotate once every quarter. They also tend to change every year. Below is a screen shot showing the categories for 2012.

ShopDiscover.com - Shopdiscover.com is Discover's secret gem. They have partnerhships with over 100 partners. Here is how it works. Instead of going to an online retailer's site, what you can do instead is to logon into your Discover account. From there, you can go to the online retailer site (same site - but just that it tracks you spending on your Discover Card). When you use your Discover card to make purchases at these online stores, you can get anywhere between 5% to 20% cash rebates (I look at them more like discounts). Below is a list (or rather a screenshot) of the complete list of partners and the rebates you can get with each.



Double Your Cash Back Bonus - If earning rebates for online shopping isn't enough, Discover will also increase the value (up to double) of your cash rebates if you exchange them for gift certificates of their partner merchants. Below is a complete list of these merchants and their cash rebates to gift card exchange ratio..

shop discover

Annual Fee and APR - There is no annual fee* for the card. New cardholders also get a 0% Interest on Purchases for 9 Months* .

Verdict - The Discover® Student More Card is probably the best student credit card available today. You can earn more cash rebates on more items than any other card. You can also save lots of money from your online shopping. If you are a student looking for a credit card, this is the one I would recommend.
 



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