The Discover It For Students Features Less Complicated Terms
The Discover it for Students is a card that is known for treating its student cardholders much better than they may be used to being treated. This is done through cash back bonuses, terms that are easy-to-understand, and a card that takes the worry out of having a credit card.
The Discover it for Students is a credit card that features terms that are less on the complicated side. This allows students to have a card that garners less worry, which is important for the student who is busy studying for exams, working, and trying to have a life. This credit card possesses a range of features, but it does not become so wrapped up in offerings that it becomes confusing. In fact, it is a very cut and dry credit card with simple terms that are very easy to follow.
There is an introductory APR that lasts for a specific period. This period is always subject to change, as is the APR itself. Nonetheless, it is an opportunity to become acquainted with the card without having to pay fees unless you are carrying out transactions other than just purchases.
The card also offers an introductory APR for balance transfers, but the balance transfer fee is not affected in that it stays the same. The balance transfer fee is a percentage of the transaction.
After the introductory periods are over, the APR will increase to a regular rate, which is based on the Prime Rate and creditworthiness. Cash advances do not have an introductory APR. It has a set APR that is based on the Prime Rate and will vary with the market.
If you wish to avoid paying interest, the way to do so is to pay the card balance off within 25 days of the statement close date. In February, it is 23 days before the statement close date.
The fees are rather simple, as there are not many. If you are late on your payment for the first time, there will be no late payment fee. The assessment of the late payment fee will begin with the second payment. There is also no penalty APR if the payment is made late. This prevents the card from costing more just because the hustle and bustle of college life may have led to a payment being made late.
As stated before, there is a balance transfer fee that is a percentage of the transaction in addition to the APR at the time the transaction is made. The same applies to cash advances, as there is an APR and a fee that is either a set dollar amount or a percentage of the cash advance, whichever is greater.
The next fee is the returned payment fee. If a payment is made and that payment is returned, then a fee will be assessed to the account and this could result in a late fee as well if the payment is late due to the returned payment. If the late payment is the first, the late fee will not be assessed.
Cash Back Rewards
The cash back rewards are a way to save money. If you do pay your balance off within the 25 days following the statement close date, then the rewards essentially come free. You will receive one percent cash back on all purchases, but you will receive a higher cash back percentage for certain types of purchases each quarter.
Every quarter, Discover will choose a transaction type. For instance, you can expect to receive even more cash back for holiday purchases at the end of the year. You can then use rewards instantly at Amazon.com checkout. This works well for college students since Amazon may carry books that are needed for class. Since financial aid payments never seem to come on time, this is a great way to buy the books without breaking the bank.
To make sure all cardholders maximize the benefits of the card, the Cashback Concierge gives a one-on-one online tour that helps you understand your rewards and how to get the most out of them. You can call the concierge at any time to go through this tour and it is personalized based on how you use the card.
You will also find when calling the concierge that the customer service that is available 24/7 is also 100 percent U.S. based. This is very important so that there are no language barriers, ensuring that the customer and the customer service representative understand one another. If you find that you don't want to spend time on the telephone learning basic information about the card, you can manage your account through online account management. You can check your account balance, make a payment, check your available credit, track your rewards, and much more. This is so you can check your account in your own time at your own pace. When you have a lot of studying to do, it is important that you perform account management activities on your time. That is why Discover allows payments to be made online or by phone up to midnight on the due date that you choose.
By being able to choose your own due date, you can make sure the payment is made. Perhaps you are paid a certain day a month or there is simply a time of the month that's better for you. Whatever the reason, you are given flexibility and freedom with the card. When you are so tied down in other areas of your life, freedom with a credit card is something that becomes a rather significant thing.
The Discover it for Students is a great starter card for students, as it does much more than just extend credit to students trying to make a place in this world. Instead, it makes the students feel like the valued cardholders that they are without making them pay an annual fee or other fees to have it.
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