Discover® Student Card - Tropical Beach

At a Glance:

Issuer: Discover Intro APR: 0% Regular APR: 14.99% APR Type: Variable APR Annual Fee: $0 Application Fee: $0

Rewards: Rebates Online Application: Yes View More Rewards Cards See More Cards Issued By Discover View Cards With Better Ratings

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Review:

The Discover® Student Card - Tropical Beach, issued by Discover, is designed for those with an average or limited credit history who are looking for a cash reward credit card. Through the reward program, cardholders earn a 5% rebate for purchases made in popular categories that change four times a year like travel, gas, restaurants, movies, and more. Plus, cardholders earn up to 1% for general purchases. Those who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a full 1% rebate.* Card users also earn a 0.25% rebate at select warehouse clubs and discount stores, and they can earn a double Cashback Bonus® when redeeming their rebates for gift certificates from numerous Discover® Card Partners. There is no yearly limit on the amount of rebates that can be earned, and rebates do not expire as long as the account is active within a 36-month time-period. Aside from the reward program, the card also provides standard benefits, including online account management, no liability for unauthorized transactions, and discounts on products and services at hundreds of stores and websites. The APR for this card is reasonable and but there is no annual fee and 0% interest that applies to purchases for six months. Therefore, students who plan to spend over $3,000 a year (to earn the 1% cash rebate), plan to use their Cashback Bonus® award at numerous retailers (to earn a full 5% rebate and double cash rebates), and plan to pay in full each month (to avoid costly finance charges) will benefit most from what the Discover® Student Card - Tropical Beach has to offer. *It is important to note that like many cash reward cards, the highest rebate offered will not apply to all purchases made with the credit card. In this case, 1% will be applied only to those purchases made after the cardholder spends over $3,000 in one year, so the overall cash rebate earned will be less than 1%, depending on the amount spent. For instance, if the cardholder were to spend $4,000, only $1,000 of this amount would be applied towards the 1% rebate. However, this does not take into account any promotional offers or the full 5% Cashback Bonus® award.

Rates and Fees:

• Introductory Rates: The Discover® Student Card - Tropical Beach has an introductory rate of 0%, which applies to purchases and is effective for up to 6 months.
• Purchase APR: After 6 months, when the introductory rate ends, the APR for purchases will be 14.99%. This APR is variable.
• Cash Advance APR: The cash advance APR is 23.99%. Please note that the introductory rate does not apply to cash advances and that the cash advance APR for this particular card is fixed. Please also note that the cash advance fee is 3%, $5 minimum.
• APR Type: The APR on purchases for this card is variable and the APR on cash advances for this card is fixed. A fixed APR means that it is guaranteed for the life of the credit card and a variable APR means that it could change according to market conditions.
• Balance Transfer Fee: This card does not charge an extra fee for balance transfers at this time. However, this policy may change in the future. Please contact card services if you plan on making balance transfers in the future.
• Annual Fee: The annual fee is $0.
• Payment Grace Period: The grace period for this credit card is 25 Days . This means you have 25 days to pay for your purchase before interest accrues.
• Late Payment Fee: The fee for a late payment is $19 on balances up to $250; $39 on balances over $250.
• Over-The-Limit Fee: The fee for spending over this card's limit is $15 on balances up to $500; $39 on balances over $500.
• Application Fee: There is no application fee.

Rewards:

• You will earn Rebates for using this card.
• Earn a 5% cashback bonus® in popular categories that change four times a year like travel, gas, restaurants, movies, and more. earn a 0.25% rebate at select warehouse clubs and discount stores. earn up to double cashback bonus® at numerous discover card partners.
• What's the expiration policy for miles? none (no account activity for more than 36 months could result in the forfeiture of some or all of the cashback bonus®.)
• Is there a yearly point limit? none