Discover it® for Students - Good Grades Rewards, issued by Discover Financial (DFS), is one of the most popular student credit cards as it lets you earn 5% cash rebates on changing categories of purchases (up to the quarterly maximum) when you sign up. You will earn 1% cash back on all your other purchases. Unlike a debit card, the Discover it® for Students - Good Grades Rewards will help you build a credit history while you are in college; if you make purchases with it and pay your bills on time, you would build a good credit score over time, which is essential when you apply for loans or get a job in the future.

Here's a detailed review of the Discover it® for Students - Good Grades Rewards, one of the best credit cards for students in the US, and I'll tell you what I like and dislike about this card.

Things We Like About This Card

Get rewarded for your good grades. Earn $20 cash back each year your GPA is 3.0 or higher. To earn this cash back you must indicate your current enrollment in college on your credit card application. You can earn this $20 cash back every year for up to the next 5 years as long as you're enrolled in school.

No annual fee for you or for any additional cardholders. No reward redemption fee either.

0% introductory APR on purchases for the first 6 months. After that the standard variable purchase APR will be 13.24% - 22.24% variable purchase APR, based on your creditworthiness.

Earn 5% cash back for purchases you make (up to the quarterly maximum) in categories that change throughout the year, such as gas, restaurants, home improvement stores, and more. This is one of the best benefits of Discover it® for Students - Good Grades Rewards. Keep in mind that you must enroll (it's free and easy) for the 5% program each quarter! If you spend above the quarterly maximum, the excess will automatically earn up to 1% cash back.

Here is the cashback calendar for 2016

January-March: Gas stations & Ground Transportation.
April-June: To be announced.
July-September: To be announced.
October-December: To be announced.

Earn unlimited 1% cash back on all eligible purchases every year. You will get 1% cash back for every purchase you make.

Redeem your Cashback Bonus for merchandise, gift cards, e-certificates or cold hard cash. If you prefer cash, you can redeem for cash that will be credited to your account with your Cashback Bonus balance as an electronic deposit or statement credit, and you can redeem any amount at any time you like.

Rebates don't expire and there is no limit as to how much you can earn with them. However if your account is closed for any reason or inactive for 18 consecutive months, your rebates will be forfeited.

Freeze ItSM on/off switch. You can now freeze and unfreeze your account in seconds to prevent new purchases, cash advances and balance transfers. It only takes a few seconds and you can do it online or through Discover's mobile app.

Talk to a real U.S. based customer service representative when you call their hotline. How refreshing!

Free FICO® credit score online and on your monthly statements. Track your recent FICO® credit score for free in one chart on your monthly statements or online. This is a great way to stay on top of your credit!

Choose from different card designs. With many designs to choose from, there's probably one that fits your style.

Receive account alerts if unusual activity takes place in your account. You will be alerted by phone, text or email if unusual activity takes place. Your account is monitored every day and each time you make a purchase, and you won't be responsible for unauthorized purchases on your Discover card.

Free text alerts when your payment is due will help avoid making late payments on your card. And the free mobile app will make it easier for you to check your account on the go.

No foreign transaction fee. You won't have to pay any foreign transaction fee when using this card.

No late fee charges on your first late payment . After that, up to $35. Paying late won't increase your APR and there are no overlimit fees.

Click "Apply Now" to see rewards, rates, FICO® Credit Score terms & other information.

Our Least Favorite Things About This Card

No 0% intro APR for balance transfers. But there is still an intro offer: 10.99% intro APR for balance transfers for the first 6 months. After this introductory period to pay off balances transferred to this card, you'll have a 13.24% - 22.24% variable purchase APR on balance transfers based on your creditworthiness. This intro APR applies to balances transferred to this account before January 10, 2016.

  • Our Verdict:

Discover it® for Students - Good Grades Rewards is a good choice for those who want to earn cash back rewards. If you are financially responsible enough to pay off your balances in full each month, and would like to take advantage of your college years to start building your credit history, then you should consider this card. As long as you pay in full every month on time, you won't incur any interest charges. This card has a promotion for new sign-ups: You get 0% intro APR on purchases for 6 months, so if you plan to buy something and then pay it off within the first 6 months, you can do so interest-free.

One of the best features this card is the fact that if you are a good student you can be rewarded as a new cardmember you will will earn $20 cash back each year (up to the next 5 years) in which your GPA is 3.0 (or higher). We would definitely recommend Discover it® for Students - Good Grades Rewards if you are a student looking for a credit card to help build your credit.

Click here to go to the secure Discover website and apply for Discover it® for Students - Good Grades Rewards now