Discover® Student Card Clear
With the Discover® Student Card Clear you can earn up to 5% Cashback bonuses on selected purchases, plus up to 20% Cashback when you shop online through Discover’s® exclusive shopping site.
There’s no annual fee and no application fee, so as long as you pay your balance in full each month, you’ll earn money with .25% Cashback on all your purchases up to $3,000 per year, and 1% on all purchases thereafter.
The annual percentage rate for this credit card is waived during the first 6 months of use, then goes to the standard APR of 14.99% variable. Cash advances will carry an APR of 23.99%. Variable rates are based on the Prime Rate plus a fixed percentage for each classification.
If you are carrying a balance on your student credit card, your minimum monthly payment will be applied to the lowest interest rate balance. Any sum paid in addition to the minimum will be applied to the highest interest rate balance.
Note that under the new credit card regulations, a student must be employed in order to obtain a Discover credit card without a co-signer. Acceptance will be based on income as well as credit scores.
Since each credit card application triggers a credit report inquiry, and since inquiries by creditors can lower your scores, we recommend that you get a copy of your free credit report and check your scores before making application. Read it carefully to make sure there are no errors and contact the credit bureau immediately if you do find errors.
Then, unless your scores are already above 750, work on raising them. This is the “magic number” that will entitle you to credit at the very best rates.
