Overview: Designed especially for students, this card features an attractive, tropical-themed design. Those considering this card should note that the method used to calculate finance charges makes it a less than ideal choice for those who carry a balance. In addition, the purchase APR after the introductory term is quite high, and late payment, over the limit, and cash advance fees apply. The rebate program awards a small, variable rebate on general purchases. The rebate increases as certain spending levels are reached on the card. Higher rebates are awarded on purchases that fall under categories like travel and movies, and the bonus categories change several times per year. Rebates can be collected in increments, and redeeming them for gift certificates for select stores can also earn bonus rebates. There are no limits or expiration dates for rebates, as long as the account is active. Benefits like Internet account access are included with this card.
Pro and cons of the card:
Pros:
Attractive tropical-themed card design
Earn rebates on all purchases
Earn bonus rebates for purchases that fall under specific categories
Qualify for bonus rebates when rebates are redeemed for gift certificates from select locations
Rebates never expire on active accounts
No limits on rebate earnings
No annual fee
Low introductory APR for purchases
No balance transfer fees
Benefits like protection against fraudulent purchases are included
Discounts at select stores
Cons:
Purchases at discount stores and warehouse clubs qualify for only a modest rebate
Must meet set spending levels to receive the maximum rebate for general purchases
Rebates can only be redeemed in increments
Method used to calculate finance charges means this card is not ideal for those who carry a balance
Above average purchase APR
Late payment and over the limit fees
Cash advance fees
Excellent Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Bad/Poor Credit
350-619
No Credit
0-0
Do You Know Your Credit Score? Find Out Now!
A credit score
is a number generally between 300-850, based on a statistical
analysis of a person's credit files. This score represents the credit
worthiness of a person. A credit score is assigned to each individual, to rate
how risky a borrower he or she is--the higher the score, the less
risk the individual poses to creditors. In most cases, your credit score will determine whether you will be
approved for a credit card.
1. Credit Scores range from 300-850, the higher the better 2. Most lenders base approval on your credit score. 3. Higher Scores mean lower payments and better deals. 4. Higher Scores mean Lower interest rates. 5. Scores are determined by 5 main categories:
Payment History
Amounts Owed
Length of Credit History
Type of Credit Used
New Credit
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* See the online Student.discovercard.com (www.studentdiscovercard.com) credit card application for details about terms and conditions and offers.
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Type of credit needed: Good Credit
Security Notice: All Applications utilize Secure SSL Technology for secure transmissions.