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Discover® Student Card - Clear Details
This student credit program allows anyone enrolled in full time studies to start writing their own credit history while enjoying the benefits of lower APR and a cashback rewards program. The account is unique in that it includes all purchases in its rewards calculations, whereas other cards are specific to gas and car repairs, airline tickets or hotel expenses. With this particular card all purchases go towards cashback with the Get More program. Shopping at certain stores, warehouses or clubs can get you more rewards than in other locations so it is best to familiarize yourself with the promoted brands and outlets before going out shopping and hoping for rewards.
You can earn back 1% of all your purchases after exceeding $3000, and on all purchases your cashback value is limitless so long as you do participate in each Get More program presented to you by the Discover card company. There is no annual fee on this card which is something that all student cards should boast, and the APR is relatively low at 14.99% however if you miss a payment or continually carry your balance forward your account may change from the low APR to a default 29.99%. Of course it is always best to make regular payments to ensure that you keep your low introductory APR offer. If you continually make monthly payments that clear your accrued debt then you will keep your 25 day grace period before the amount is subject to interest; if you do carry the balance forward this will change and your amounts will gain interest at a quicker rate. The late fees on this account are $15 for any amount up to $500 and $39 for any amount exceeding that; after the first of December 2007, however, this rate changes to $19 for any amount up to $250 and $39 on any amount higher than that. The overlimit fees work the same as the original late fees do.
For cash advances there is a standard 3% transaction fee with a $5 minimum and no maximum, and an annual fee of 23.99%. Rewards earned with the Get More program are redeemable $20 at a time. This is an ideal account for students who want to gain some financial freedom, make the most of their new credit card and actually earn cashback on purchases they will be making anyway. The Discover Student Card Clear offers the opportunity to shop smart and build a credit rating on a sound APR. |
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