Discover® Student Card
- 0% Intro APR on purchases for 9 months, then the variable purchase APR of 13.99%-20.99%.
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Up to 1% unlimited Cashback Bonus on everything else you buy.
- $0 Fraud Liability plus mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
Intro Rate
Intro Period
Reg. Rate
Annual Fee
Balance
Transfers
Transfers
Credit Needed
0% on Purchases*
9 Months*
13.99% - 20.99% (V)*
None*
N/A*
Fair Credit*
Editor's Review:
The Discover More Student Card, which is issued by Morgan Stanley, was created for students who have an average credit history or a limited credit history that would also like to participate in a cash back program.
The cash back program of the Discover More Student Card provides the cardholder with a full 5% rebate on all purchases made at participating merchants. In addition, general purchases receive up to 1% cash back based on a prorated system. The first $1,500 spent earns the cardholder a .25% rebate. Once the cardholder spends $1,500, he receives a .5% rebate up to $3,000. After $3,000, the cardholder receives a 1% rebate on purchases. In addition, cardholders earn .25% on purchases made at discount stores and at warehouse clubs.
Cardholders can also earn a double Cashback Bonus when they redeem their rebates for gift certificates from participating Discover Card Partners. In addition, there is no limit on the amount of rebates a cardholder can earn in one year and the rebates never expire, so long as the card is active at least one time in a three-year period.
In addition to the cash back rewards program, the Discover More Student Card offers additional perks. For example, it provides cardholders with protection from liability for unauthorized transactions and discounts on a variety of products and services provided by participating retailers and merchants. The card also offers a 0% introductory APR on purchases. This rate is applied to all purchases made within the first 6 months of membership.
There is no annual fee associated with the Discover More Student Card and it is free to add additional cardholders to the account. After the introductory period is complete, the variable APR on purchases is based on the Prime Rate. The APR on cash advances, however, is a fixed 22.99%. In addition, finance charges are determined using the "Two Cycles Average Daily Balance," which is less common and potentially more costly than the "Average Daily Balance" method for those carrying a balance on their card. The maximum credit limit a cardholder can receive with the card is $5,000.
