7 Secrets to Maximizing Your Discover Student Credit Card Benefits

Many students are eager to get their hands on their very first credit card. They see it as the first step toward independent adulthood and having more spending power than ever before. And although it’s true that you can start earning rewards points almost immediately, it’s also true that you can do a lot more to make your Discover student credit card work for you if you know how to maximize your benefits. Here are seven tips to help you do just that.

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Discover Student Card
Discover Student Credit Card

1) Register and activate your card

The Discover student credit card is a good option if you want a rewards card that has no annual fee and can offer cash back on certain purchases. You have the opportunity to take advantage of a signup bonus offer: Discover will match your first year’s APR with their own for first-time users. Let’s say, for example, that Discover offers an introductory APR of 0% while Chase offers a rate of 18%. If you open a new account with Chase during this time, then Chase will charge 18% interest on all balances throughout the life of your account.
If you open an account with Discover instead, then they will charge 0% interest until January 2020 and then 18% after January 2020.

2) Don’t use the convenience checks until you know how they work

The discover student credit card is a great way to build your credit score. Just make sure you know how convenience checks work so you can make the most of them. If you want, when you sign up for your Discover card, they’ll send you a $50 convenience check right away. These checks can be used in one transaction or as five $10 convenience checks that last at least two months each. The checks can also be signed by someone else.
For example, if I want to give my sister some money for her birthday, I could just write her name on one of the checks and she could use it for whatever she wants. I recommend using these checks if you are a Chase customer because then any purchase made with your chase student credit card will earn points towards your rewards account.

3) Get your employer on board

You can earn rewards and points for your purchases, but only if you pay with your Discover card. If your employer accepts the card as a form of payment, you should ask them about adding it to your paycheck deductions so that you can receive rewards for all of the purchases you make at work. This way, not only will you be able to rack up some big bonuses from using the card, but you’ll also get some great discounts on things like gasoline and dining. Chase offers cash back or travel rewards depending on what you choose when signing up. Chase Ultimate Rewards allows the cardholder to choose how they want their points redeemed—you could either use your points for cash or gift cards, or save them up in order to trade them in for travel. The best part is that Chase doesn’t charge an annual fee for these benefits, which means there’s nothing standing in your way from earning rewards without having to spend any more money than usual!

4) Be aware of fraud protection features

The Discover card has some features that can protect you against fraud. First, there’s the typical purchase protection feature, which offers 120 days of coverage for new purchases if they’re damaged or stolen. Second, if you’re a student with a credit score below 580, you’ll also get five months of extended warranty on every purchase. If your identity is stolen and you report it within 60 days, Discover will refund any money lost as a result. Third, this card also comes with roadside assistance should your car break down – but keep in mind that only certain vehicles are eligible for roadside assistance (for example, not motorcycles). Finally, if your cash gets stolen and it’s reported within two business days to law enforcement authorities and a participating financial institution (like Chase), then Chase will cover up to $250 in expenses like buying food and transportation.

5) Know your payment options

There are several options available for payment with the credit card. You can choose to pay your balance monthly and make a minimum monthly payment, set up a single or periodic (weekly, bi-weekly) automated repayment plan where payments are automatically deducted from the credit card each month, or pay off your balance at the end of each billing cycle.
Chase student credit card is a valuable tool when used responsibly. It can offer you peace of mind and better protection against expensive interest rates and fees than other cards out there. Chase offers a low annual fee as well as no balance transfer fee on all balances transferred within 60 days of opening an account. Chase also offers price protection which will cover you if you find an item that costs less in the future, so long as it’s within 90 days after purchase and reported within 120 days after purchase. Chase student credit card is also one of the only cards on the market that does not charge foreign transaction fees when making purchases abroad.

6) Pay off each balance in full every month

Use your credit card responsibly by using it sparingly and paying off the balance in full every month. This will keep you from paying any interest charges, which can add up. Plus, it’ll protect you from incurring an unhealthy amount of debt that could follow you for the rest of your life. Don’t carry a balance: If you don’t have the cash on hand when making a purchase, use another form of payment like cash or a debit card instead. Otherwise, make sure to pay off the balance as soon as possible. Pay attention to monthly statements: Look over your monthly statement carefully each time it arrives so you’re aware of what purchases have been made with your account so there are no surprises later on.

7) Check out all the other benefits

When it comes down to it, you really get what you pay for with credit cards. With Chase’s student card, if you’re enrolled in school, you’ll earn 5% cash back on most purchases–up to $1,500 per quarter. Plus, the best part is that they don’t charge an annual fee. So go ahead and sign up for your new card and reap all of these benefits!
In addition, here are some of the other perks:
-Receive a 10% discount when using your Discover Student Card at Lowe’s Home Improvement Stores (this can be used up to five times every year)
-No Annual Fee
-No Foreign Transaction Fees
-Get 2% Cash Back at gas stations or grocery stores (up to $1,000 each quarter)

FAQ

How do discover student credit cards help build credit?

Discover student credit cards offer excellent credit-building opportunities and offer cash back benefits on all purchases when used wisely. That’s because Discover may help you grow your credit if used appropriately by informing the three main credit agencies about your credit history.

Is discover a good credit card to have?

After that, your cash-back rewards won’t be matched anymore, but a Discover card is still a fantastic choice to keep in your wallet for quarterly bonus earnings, Discover It Deals, and other exclusive promotions. How does cashback operate? A percentage of cash back, ranging from 1% to 5%, is given when you use a Discover credit card to make a transaction.

How does the discover it student cash back card work?

You will receive twice as much cash back during your first year of college if you use the Discover it Student Cash Back card. For a first-year bonus, Discover matches your cash back earnings. Therefore, if you spend enough in your first year to earn, let’s say, $150 in cash back, you’ll actually finish up with $300.

How can I build credit history during college?

Discover the greatest To establish credit history while in college, consider Discover student credit cards. Student credit card options that let you create a credit history for use after graduation while earning cash back benefits while attending college.

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