Overview: The Discover Student Card allows cardholders to earn rebates on all purchases. Bonus rebates are earned for making purchases that fall under categories like gas and movies, and the bonus rebate categories change several times a year. To earn the maximum rebate for general purchases, minimum spending levels on the card must be reached. Rebates do not expire on active accounts, and there are no rebate limits. Rebates must be redeemed in increments. There is no annual fee for the Discover Student Card, and a low introductory APR for purchases is offered. The purchase APR after the introductory term is above average, and the method used to calculate finance charges makes this card less than ideal for those who carry a balance. There are no balance transfer fees, but late payment, over the limit, and cash advance fees apply. Benefits like Internet account access are included.
Pro and cons of the card:
Pros:
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 Internet account access 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!
*Credit Card will be charged, if Membership NOT cancelled!!
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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Type of credit needed: Good Credit
Security Notice: All Applications utilize Secure SSL Technology for secure transmissions.