Cash Back Card information Blog

While this credit card may appear to be like any other student credit card, upon further inspection, you will realize that the Discover Student Clear Card comes in a variety of flashy and funky designs.

Apart from that, internet account related services are also tagged along with the Discover Student Credit Card, with additional benefits such as no annual fee and a 0% introductory APR for the first six months or until the end of the billing cycle in December, whichever comes first.

Additionally, the Discover Student Credit Card also offers double cash rebates at participating stores through the Cashback Bonus award program. Fantastic! Plus, a 5% full cash rebate at participating retailers. Marvelous.

But all that glitters is not gold, and all that shimmers will fade away. Once the intro period is up, the APR for this credit card is found to hover on the high side of exorbitant rates.

Couple that with the demonic method of calculating finance charges called the “Two Cycles Average Daily Balance”, this card will suck the lifeblood out of your fledgling student finances. You will probably be put you into economic servitude and shackles through debt servicing. The only way out is not to accrue any outstanding balances, paying them off before charges apply.

From that point of view, the rest of the reward program starts to lose its shine. With the exception of the promotional offers mentioned earlier, it seems unreasonable to spend $3000 or above just to earn 1% cash rebate. Unless you actually have that kind of money, this is just another gimmick. And if the fact that the 1% will only apply to the sum above the first $3000 doesn’t tell you that this is a gimmick, what will?

In a nutshell, the Discover Student Clear Card, as it is officially called, is ideal if you regularly spend above $3000 a month and pay off the outstanding balance each month, or if you plan to take advantage of the Cashback Bonus it offers. Otherwise this card will just take advantage of you.

While this credit card may appear to be like any other student credit card, upon further inspection, you will realize that the Discover Student Clear Card comes in a variety of flashy and funky designs.

Apart from that, internet account related services are also tagged along with the Discover Student Credit Card, with additional benefits such as no annual fee and a 0% introductory APR for the first six months or until the end of the billing cycle in December, whichever comes first.

Additionally, the Discover Student Credit Card also offers double cash rebates at participating stores through the Cashback Bonus award program. Fantastic! Plus, a 5% full cash rebate at participating retailers. Marvelous.

But all that glitters is not gold, and all that shimmers will fade away. Once the intro period is up, the APR for this credit card is found to hover on the high side of exorbitant rates.

Couple that with the demonic method of calculating finance charges called the “Two Cycles Average Daily Balance”, this card will suck the lifeblood out of your fledgling student finances. You will probably be put you into economic servitude and shackles through debt servicing. The only way out is not to accrue any outstanding balances, paying them off before charges apply.

From that point of view, the rest of the reward program starts to lose its shine. With the exception of the promotional offers mentioned earlier, it seems unreasonable to spend $3000 or above just to earn 1% cash rebate. Unless you actually have that kind of money, this is just another gimmick. And if the fact that the 1% will only apply to the sum above the first $3000 doesn’t tell you that this is a gimmick, what will?

In a nutshell, the Discover Student Clear Card, as it is officially called, is ideal if you regularly spend above $3000 a month and pay off the outstanding balance each month, or if you plan to take advantage of the Cashback Bonus it offers. Otherwise this card will just take advantage of you.

It is important for college students to begin building their credit histories before stepping out into the real world completely unprepared. Many credit cards are available specifically to college students that will help accomplish this task, but the Discover Student Card goes a bit further, putting forward nice rewards and respectable interest rates at the same time.

Covering the Interest and Fees for this Credit Card

First things first, let’s cover everyone’s least favorite part about credit cards – the interest rate and fees. Actually, this Discover Student Card ranks well among student credit cards in the interest and fee category.

The zero annual fee is notable for a card offering rewards like the Discover Student Card does, especially when considering the fact that most students are only beginning to establish their credit history and don’t exactly have stellar credit yet. Much the same, the purchase interest rate is fitting and overly fair for the category of credit card this is. If it does seem prohibitive, do remember that those who pay any balance of charges off in full on time with every bill will not pay any interest whatsoever.

While many college students are indeed just starting off with a credit card for the first time, those who have racked up balances on high interest credit cards will be relieved to know that they can transfer at least some of those balances to the Discover Student Card and not have to pay interest on those balance transfers for six months.

It’s All About the Benefits and Rewards

Moving on to the good part, the Discover Student Card definitely excels when it comes down to the rewards offered. Skipping the point for trinkets type of reward plan many student credit cards offer, Discover begins with their renowned and unique Cashback Bonus® program. This means the rewards earned are given back in the form of a cash rebate allowing the freedom to spend in a variety of ways instead of only being able to redeem points for overpriced merchandise of limited choosing.

And the rebate rewards of the Discover Student Card do add up. In fact, a 5 to 20% Cashback Bonus is offered at some perpetual favorite online retailers like iTunes.com, Barnes and Noble, and Target.com – perfect for many of the most important regular purchases of college students. Additional 5% rewards rotate across different categories including travel, gas, restaurants, and others throughout the year, allowing for the strategic accumulation of rewards. Of course, the standard 1% bonus is applied automatically across the board on all other purchase.

So, All Things Considered, How Does the Discover Student Card Rank?

The Discover Student Card is strong more or less in all areas when it comes to student credit cards. There is one downfall, however – Discover isn’t known for being as widely accepted as MasterCard and Visa are. That said, most will probably have a hard time finding places where Discover is not accepted. With that caveat taken into consideration, the Discover Student Card easily scores recommended status.

A student credit card is exactly what the name suggests. It is devised specifically for students. Student credit cards are becoming increasingly popular nowadays with more and more parents opting to give their kids one. It has many advantages over normal credit cards. Let us look at some of the advantages that a student credit card offers.

A student credit card lets a student have a glimpse at financial expenses and management. The student who hardly has a credit rating can take the first few steps towards building a healthy credit rating for himself. Credit ratings will be a very important part of their future lives if they wish to take loans for purchasing a home or a vehicle. If they take the first few steps towards establishing a good credit rating with the student credit card, then they will be more confident and better equipped to handle their finances later on.

Since the student credit card does not have an extravagant limit, the student will also learn to control the spending habits. Most student credit cards have a limit of $500 to $1500. So the student cannot think of spending anything more than that. This habit is best inculcated in the young age.

Parents are also able to keep a tab on the spending habits of their kids. It depends on the ownership of the card as to who receives the bill, but in most cases it’s a joint ownership and both parents can see how their kid has been spending using the credit card. If at all you find that your kid has been using the student credit card for unwanted expenditures then you can guide them accordingly so that they can mend their ways.

Downsides

A student credit card has a higher rate of interest than most other credit cards. This is to prevent any loss for the credit card companies in case the student defaults. Also some credit card companies make it mandatory for the parent or the guardian to sign the application so that they will be liable to pay off the debts. Some kids do not pay back on time and fall prey to debt. Once the debt cycle beings, the high interest rate causes it to mound further and the student may find it very difficult to manage it. At the same time, they are not helping their credit ratings at all.

Some Popular Student Credit Cards

Discover clear student credit card is one of the popular student credit cards available nowadays. It has loads of features that are attractive and useful for the student. The five percent cashback is one of the highlights of this card. If you redeem your certificates from Discover’s partner’s the cashback doubles.

Chase flexible student credit card is another very useful card for students. Whatever purchase the student makes with this card enables him to receive points which can be redeemed for free gifts. It does not have an annual fee.

Citibank platinum select credit card has an APR at zero percent for all the purchases that are made within the first 6 months of the issue of the card. If the user has not defaulted with any other card company then the user can also transfer any existing balance on to this card.

So you can choose from any of these superb cards depending on the needs of your kid. Let’s hope your kid learns to use credit cards effectively.

There are a lot of student credit cards offers floating around in the market. Coming from all kinds of financial institutions, these credit cards provide different benefits. Discover® Student Tropical Beach Card with its stunning designs and exceptional benefits stands out from the crowd. Why should a student start his financial life with Discover® Student Tropical Beach Card? Here are 3 unbeatable reasons:

1. Student life is where most of us start building our credit history. Imbibing good financial habits right from the student life keeps us in good books of credit rating agencies. Building credit history is key to a solid financial foundation, and no other card allows you to build your credit history like the Discover® Student Tropical Beach Card.

2. Discover® Student Tropical Beach Card helps the student save money on interest rates, annual fees. It gives a 0% Intro APR on purchases for 6 months, and has no annual fee. Since a student is just beginning his financial life and issues like credit card fraud, identity theft might bother him. Discover® Student Tropical Beach Card comes with $0 fraud liability guarantee and gives absolute peace of mind to its owner. Managing Discover® Student Tropical Beach Card accounts is a breeze because it offers Easiest Online Account Management Options. Almost all account related activities can be done online. This saves a lot of time which can be used to enjoy this golden life even more.

3. Spend as you save is the most popular benefit of Discover® Student Tropical Beach Card with it You’ll also earn 5% Cashback Bonus® on Get More purchases in popular categories that change four times a year like home, apparel and more* and up to 1% Cashback Bonus on all other purchases automatically*. Forget worrying about the expiry of rewards, because the unlimited cash rewards never expire as long as you use your Card. The credit card holder also has the option to DOUBLE his Cashback Bonus (turn $20 into $40) when you redeem for gift cards or certificates from many of our 70 brand name partners.

So if you want a bagful of benefits for students which help them save time, money, earn rewards and build a solid foundations to excellent credit history -Discover® Student Tropical Beach Card is the one for you.

For a student, it can be difficult to get a credit card that saves money on gas. The best credit cards require a minimum annual income. The average college student does not have the time for classes and a job. Those who do work after class still do not earn enough to qualify for most rewards credit cards. A student usually only qualifies for basic credit card. For a student who drives there are some student gas credit cards available.

Citi Upromise Card – save 2% at Exxon & Mobil Gas Stations

The Citi Upromise Card is the number one rewards card for college savings as rated by CNN/Money. This credit card can earn you cash back on every purchase. There are tens of thousands of stores that you can save at. As a Upromise member, you can open a Upromise College Fund savings plan through Upromise Investments by saving as little as $50 a month (that’s less than $2 a day). Friends of families can automatically contribute to the college savings when they use their credit card.

-College savings on purchases, everywhere you shop!

-Plus 10% EXTRA college savings on 7000+ grocery and drug store items

-0% APR on balance transfers for 12 months

-No annual fee

The Citi Upromise Card earns 2% cash back at Exxon and Mobil gas stations, plus 1% on all other purchases. When you use this credit card at select stores, you also earn additional cash back. Best of all, there is no limit to how much you can save. Excellent credit is required.

Citi Driver’s Edge Card for College Students – 3% Cash Back on Gas

Another great rewards credit card is the Citi Driver’s Edge Card for College Students. This student credit card earns 3% cash back at supermarkets, drug stores and gas stations. On other purchases, you earn 1% rebates. You can also earn Drive Rebates based on how many miles you drive. For driving 10,000 miles, you can earn $100 in rebates. Here are some other features:

-0% APR for 6 months on purchases, cash advances, and balance transfers

-Earn rebates towards any car, new or used

-Build your credit history

-Free online account management

-$0 liability on unauthorized purchases

-No annual fee

There is an annual limit for the rebates you can earn. Each year you can earn up to $1000 in rebates. It is easy to qualify for the Citi Driver’s Edge for College Students. They do not ask for a minimum annual income or a co-signer.

Discover Student Clear Card – 5% on ‘Get More’ purchases

The Discover Student Clear Card offers up to 5% cash back on select purchases such as gas stations, restaurants, book stores, theaters, clothing stores and more. Plus get 1% cash back on other purchases. There is no limit to how much cash you can earn each year. Turn your rebates into gift certificates at select stores and double your cash back. They do ask for your employment information. So you may get declined if you are not currently employeed.

-0% Intro APR on Purchases for 6 Months

-No Annual Fee

-Easiest Online Account Management Options

-Full 5% Cashback Bonus® on Get More Program purchases throughout the year

-Up to 1% Cashback Bonus® on all your other purchases

-Build Your Credit History

-Unlimited cash rewards that never expire as long as you use your Card.

-DOUBLE your Cashback Bonus® (turn $20 into $40) when you redeem for gift cards or certificates from many of our 60 brand name partners

A drawback of the Discover Student Clear Card is that throughout the year you can only earn 5% cash back on certain category purchases. Four times a year these categories change. So you might only get 5% cash back at gas stations for part of each year. If your shopping habits vary, this could work to your advantage.

Student Gas Credit Card Comparison Results

If you have excellent credit, the Citi Upromise Card would be the best choice as it offers the most savings. If you have a job but do not have sufficient credit for the Upromise Card, the Discover Student Clear Card can earn you high cash back rates. It is at the cost of a rotating rewards program. For students without a job, the Citi Driver’s Edge for College Students might be right for you. It is easy to qualify for and still earns rebates everywhere you shop. Any of these credit cards would be a great way for a student to save money.