Discover Student Cash Rebate Card

The Discover Student Credit Card with a rebate up to 2% is a very good rebate card and is a good way to build your credit history. Although it has a higher interest rate than the Discover Classic or Discover Platinum cards, it is easier to qualify.

Although I've never had a student card, I've had a Discover card since 1987.

You can have the minimum payment or the full balance automatically deducted from your checking account. They will even deduct it on the billing cycle close date(7 days after your normal due date). So...you don't have to worry about making the payment and you get even more time than normal to pay! It's even better than a debit card because you get a rebate and the use of your money for an extra 30 to 60 days.

If you don't carry a balance, you can get up to 1% at most places. The 2% comes when you elect to receive the rebate in the form of credit at one of their select merchants.

The interest rate is 17.24%(13.24% + Prime).

Balance transfers are 3%(minimum $5).

The rebate structure is:

Dollars Spent	Rebate Amount
0-1.5K	.25%
1.5-3K	.5%
>3K	1%

If you aren't a student or have good credit, you should apply for the Discover Platinum card or you may want to consider the Discover Classic card. They offer lower interest rates(though I don't recommend carrying a balance!) including special introductory offers.

Apply at: DiscoverCard.com