When you think of credit cards, Discover is probably one of the first names that comes to mind. The Discover company has long been known for its credit card offerings for businesspeople and individuals. But did you know they have a credit card specifically designed for students who are in college? That’s right.
College costs can really add up, and unexpected expenses can pop up at any time. That’s why it’s a good idea to have a little extra credit on hand for those surprise expenses. Whether it’s for a school project or a flight back home, the Discover student credit card provides that extra edge in a credit line that fits your lifestyle.
The Discover student credit card focuses on the needs of students, and they offer different ways to increase your credit ratings, get cashback, and more. Some of the benefits of going with a Discover student credit card include:
- A “good grade reward,” where you can earn a $20 credit every school year when your GPA is 3.0 or higher
- 2% cash back on restaurants and gas stations up to $1,000 each quarter, plus unlimited 1% cash back on all other purchases
- Cashback match for the amount you’ve earned after your first year
- Use cashback rewards toward Amazon purchases
- Monitoring on every purchase for suspicious activity
- No annual fee
- No foreign transaction fees
- Free credit scorecard with your FICO score
Why Get a Credit Card in College
Getting a credit card is one of the best ways to start building credit. The important thing is to make sure you don’t charge more than you’ll be able to pay off at the end of each billing period. As long as you do that, having a credit card in college is a great way to start.
Why get a credit card in college? Here are a few key reasons:
- It helps build your credit history.
Many students start college with little to no credit history, which can impact their ability to get an apartment or a loan down the line. Having a credit card – and never carrying a balance – demonstrates to credit bureaus that you are responsible, and can help you qualify for housing, loans, and more.
- It can help increase your credit score.
Keep making payments on time and in full, and your credit score will grow! Not only does this help qualify you for the things mentioned above, but it can also help with things like qualifying for lower interest rates on loans.
- It will help you learn money management skills.
It’s easy to get carried away with spending when you have a credit card, but by creating a budget and tracking your spending, you can keep your money in check – a skill you’ll definitely need in the future.
- It’s there for emergencies.
You don’t always have instant cash if an emergency comes up. Whether your car breaks down or you have to make an unexpected trip to the doctor, your credit card is there to fall back on.