Discover is gearing up for the back-to-school season by offering new student cardholders a chance to earn cash back for getting good grades. They can earn $20 cashback if their grade point average is 3.0 or better. The offer is good for the first five years they have the card, and only students signing up Discover Card after July 23 are eligible.
This new offer is seen as giving students rewards for hard work. “This best in class program for new Discover cardmembers gives students an opportunity to earn a bonus for hard work in their classes,” said Ryan Scully, a marketing vice president at Discover. “It is also a good way for students to experience the benefits that come with being a Discover cardmember.”
This is the second time Discover has run the Good Grades $20 Cashback Bonus campaign.
The student Discover cards & their benefits
Currently Discover has two credit cards available for students – Discover it and Discover it Chrome.
Each one offers the cashback for good grades, while also giving students 1% cashback on everything they buy whether that’s electronics or school books.
They also have other cashback opportunities:
• Discover it Chrome for Students gives them 2% cashback right off the bat when the card is used at restaurants and gas stations and restaurants. They can earn cash back on $1,000 each quarter.
• Discover it for Students lets cardholders earn 5% cashback in different categories each quarter.
All Discover cardmembers also receive a free copy of their most recent FICO score, as well as access to tools that let them in on what factors were used to create their score. This part of the package is seen as being particularly important for college students in terms of getting them ready for the future.
“We think it’s important that students understand good credit habits and the importance of a healthy FICO Credit Score,” Scully added. “Once a student graduates, they will continue to get these great features to help achieve their personal goals and better prepare them for the future.”
Sometimes misplacing your credit card is unavoidable, especially when you’re in college, but Freeze It is also a Discover card benefit. It allows cardholders to literally freeze their card to prevent new charges or cash advances being made directly from the smartphone, if they can’t find it and then turn it back on when they do.