Discover
Discover it® Student Cash Back
Reward rate: 5% rotating categories (Q2 2026: Restaurants and Home Improvement) upon activation • unlimited 1% everything else
Annual fee
$0
Welcome bonus
Unlimited Cashback Match at the end of the first year
Min. credit
Fair to good / student
APR profile
17.24%–26.24% variable APR
Pros
- ✓$0 annual fee makes it friendly for first-card budgets
- ✓5% quarterly categories can outperform flat-rate student cards
- ✓First-year Cashback Match boosts early value without added cost
Cons
- ✗Rotating categories require activation to earn 5%
- ✗Category caps limit upside for heavier spending
- ✗Discover acceptance can be narrower than Visa or Mastercard
Beta Notice
Direct applications are coming soon. Please visit Discover's official site to apply today.