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Discover® Student Card - Clear Credit Card
Discover® Student Card - Clear, brought to you by Discover® Card and CreditCardAssist.com, offers a 0% introductory APR with no annual fee for students. Search and compare Discover student credit cards and apply online. |
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Discover® Student Card - Clear |
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- Up to 20% Cashback Bonus® When You Shop Online
- Unlimited Cash Rewards, Automatically
- 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, movies and many more.
- Double Rewards with More than 100 Cashback Bonus Partners
- Customer Service in Less than a Minute, Anytime You Want
- *View Discover® Card Rates, Fees, Rewards and Other Important Information
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Intro APR
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Intro APR Period
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Regular APR
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Annual Fee
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Balance Transfers
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Credit Needed |
0% on Purchases*
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6 Months*
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As Low As 14.99%*
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$0*
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Yes*
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Good Credit*
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Editor's Review:
The Discover Student Clear Card, which is issued by Morgan Stanley, is geared toward students that wish to participate in a cash back rewards program.
The Discover Student Clear Card provides cardholders with a full 5% cash rebate for all purchases made at participating merchants. They also earn .25% for purchases made at certain discount stores and warehouse clubs. In addition, general purchases earn up to 1% cash back, based on a prorated scale. For the first $1,500 a cardholder spends, he or she earns .25% cash back. The next $1,500, which is the money spent from $1,500 to $3,000, earns .5% cash back. After spending $3,000, the cardholder earns a 1% cash back rebate. Cardholders can double the cash back bonus by using the Cashback Bonus to redeem their rebates for gift certificates from participating merchants.
In addition to the rewards program, the Discover Student Clear Card provides a variety of additional benefits. For example, cardholders receive protection from liability for unauthorized purchases and fraud and security protection services. They also receive discounts at a variety of merchants and retailers. The card also offers an attractive introductory offer: during the first six months of card membership, cardholders enjoy a 0% APR on all purchases.
The Discover Student Clear Card has no annual fee and there is no fee to add additional cardholders to the account. After the introductory period is over, the APR for purchases is variable and based on the Prime Rate. The APR for cash advances, however, is a fixed rate of 22.99%. Finance charges are determined using the "Two Cycles Average Daily Balance" method, which is less common than the "Average Daily Balances" method. This can result in higher finance charges for a cardholder wishing to carry balances from one billing period to the next.
The highest available credit limit with the card is $5,000. Cardholders that exceed this limit are subject to a $15 fee on balances up to $1,000. Cardholders with a balance over $1,000 will receive a $35 fee for exceeding the limit. Late payments on balances up to $100 results in a $15 fee, balances over $100 but less than $1,000 bring a $25 late fee, and balances over $1,000 cause a $39 fee.
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(Review Date: August 8, 2010)
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