 |
Discover® Student Card - Clear |
 |
|
|
|
 |
- More Ways to Earn More Cash than Anyone Else(SM)*
- Unlimited Cash Rewards, Automatically
- Up to 20% Cashback Bonus® When You Shop Online*
- 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
|
|
|
Intro APR
|
Intro APR Period
|
Regular APR
|
Annual Fee
|
Balance Transfers
|
Credit Needed |
0% on Purchases*
|
6 Months*
|
13.99%*
|
$0*
|
Yes*
|
Good Credit*
|
|
|
|
Editor's Review:
The Discover Student Clear Card is one of the leading credit cards for college students currently available. Most college students have a limited credit history. This student credit card, which is issued by Morgan Stanley, was designed specifically with them in mind, as well as for those with an average credit rating. An added bonus is the cash back rewards system, a feature not often seen with student credit cards.
With the Discover Student Clear Card, cardholders can earn an outstanding 5% cash back reward when they complete purchases with participating merchants. All other purchases earn up to a 1% cash back reward. The exact percentage of cash back earned depends on the amount of money spent. A cardholder who spends up to $1,500 earns a .25% rebate, while those who spend between $1,500 and $3,000 earn a .5% rebate. Spending over $3,000 earns the entire 1% cash back reward.
When determining the cash back rewards, the specific cash back percentage applies to money spent within the price range. For example, a cardholder who spends $6,000 in a year on the Discover Student Classic Card will receive a .25% rebate on the first $1,500, a .5% rebate on the next $1,500, and a 1% rebate on the remaining $3,000.
This student credit card makes the cash back rewards system even better by providing a double Cashback Bonus to cardholders who redeem their rebate gift certificates with Discover Card retailer or merchant partners. There is also no yearly limit on how many rebates a cardholder can earn and the rebates never expire as long as the Discover Student Classic Card remains active within a three-year period.
There is no annual fee with the Discover Student Clear Card, so all of these great features come free with this amazing student credit card. In addition, the card is currently offering a 0% introductory rate for all purchases made on the card through the first six months.
After the introductory 0% offer has expired, this student credit card reverts to its regular 15.74% variable rate on purchases. There is a 22.99% variable interest rate on cash advances. It should be noted that this card does use a "Two Cycles Average Daily Balance" method for determining interest owed. This can result in more interest fees than the "Average Daily Balance" method if the cardholder carries a balance over. Therefore, it is best to pay the balance in full each month in order to avoid increased interest fees.
The minimum line of credit provided by the Discover Student Classic Card is $500, while the maximum is $5,000. Cardholders who are late making a payment on balances of up to $100 receive a $15 penalty fee. A balance of up to $1,000 will be assessed a $25 late fee and a balance over $1,000 will receive a $39 fee. Going over the credit limit with this student credit card will result in a $15 fee on balances up to $1,000 and a $35 fee on balances over $1,000.
|
(Review Date: October 13, 2008)
| |
|
|
Security Note: All card applications linked to from CreditCardAssist.com utilize Secure SSL Technology. 
