Overall Rating: |
(3
out of 5) |
Benefits Rating: |
(3 out of 5) |
Credit Needed for Approval: |
Decent credit needed. |
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Discover Student Clear |
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-- Full 5% Cashback Bonus® on Get More
Program purchases throughout the year*
-- Up to 1% Cashback Bonus® on all your other purchases
-- Build Your Credit History
-- Unlimited cash rewards that never expire as long as
you use your Card. |
Interest Rate |
Intro Rate |
Grace Period |
Credit Line |
Annual Fee |
16.99%
Variable |
0% for 6 months |
25 days |
$5,000 |
$0 |
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DISCOVER STUDENT CLEAR CARD
The Discover Student Clear Card is one of the most
popular student cashback credit cards. The rewards
program associated with this card offers 5% in cash
rebates for purchases made at participating merchants
and up to 1% on all other general purchases.
The general purchase rebates schedule is as follows:
.25% rebates for $1500 or less in general purchases, .5%
for $1500-3000 in general purchases and 1% for $3000 or
more.
In addition to the 5% rebates on purchases made as select
merchants and discount stores, card members will receive
double Cashback Bonus when they redeem their rebates for
gift certificates from participating Discover Card
Partners. There are no yearly limits as to the amount of
rebates you can receive!
Some of the additional major
benefits the Discover Clear Student credit card includes:
- Internet account management
- You are not liable for unauthorized charges made with your card.
- Features various fraud and security protection services. Learn more
about
credit card insurance offers.
This card is most
beneficial to those that anticipate spending more than
$3000/year (earning the 1% cash rebate), intend on using
their Cashback Bonus awards at participating retailers
(earning the 5% rebate and double cash rebates), and
don't expect on carrying a balance with their card
(avoiding having to pay costly interest charges) will
benefit most from the Discover Student Clear Card.
The one major downside of this card is that the finance
charges utilize the 'Two Cycles Average Daily Balance'
method. This system of applying finance charges is more
expensive than when the 'Average Daily Balance' is used
to calculate finance costs, making it an expensive card
for those that anticipate utilizing their credit limit.
Important Notations
See website for complete terms and conditions of card
usage and application disclosure.
Related Info:
-
Student Credit Card Guide
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