As a student sometimes it becomes very hard to balance on finance and credit when traveling to different countries. As a result, the Discover Student Travel Card was designed to break the cycle,
and offers a variety of features that targets students exclusively. The major features of this card include cash back rewards,
no Foreign transactions fees, and special programs for students to build or begin credit.
Why You Should Choose Discover Student Travel Card
In selecting for a student credit card, there are a number of issues that bear consideration, including interest rate, reward program,
and use of card while in foreign countries. The Discover Student Travel Card aptly fits the above description as it is a reward card that outperforms all the other aspects in providing benefits to user,particularly students who often travel.
1. No Annual Fees
The Discover Student Travel Card has a lot of benefits, one of the most important is the absence of the annual fee.
This feature helps the students in utilizing the card without any extra charges being added to the bill every year and therefore suitable for every student who is carefully rationing their pocket money.
2. Cash-Back Rewards Program
I love the Discover card because of the unbelievable 5% cash-back it provides on non-boutique purchases depending on the ever-changing quarterly cycle including eating places,
fossil fuel stations, supermarkets plus other recurrent spending divisions. For all other purchases students get a default of 1% cash back It parses expenses in a manner that permits users to receive rebates on everything from textbooks, backpacks, pens or even travel.
Also, Discover provides cash-back match promotion for the first year of being a card member where new cardholders receive an extra cash-back.
equivalent to the amount of cash-back that has been earned by the card holder in a year of membership, which is twice the benefits that students would get.
3. Foreign Purchase Refund: No Foreign Transaction Fees
If you are a student who is likely to travel in the foreign countries, then it comes with the Discover Student Travel Card has Absent of foreign transaction fees.
What this means is that students can carry out their transactions in other countries and they do not have to be charged extra for the convenience they received when doing the transaction as common with other credit card companies.
4. Low APR for Students
0 percent _Initial Interest Rate_ – The Discover Student Travel Cards has an amazingly low initial interest rate that lasts for the first six months of use;
this is good for the students as they might be forced to transact with credit for a while before they pay off. The beginning APR may vary depending on the creditworthiness of the cardholder,
but after the first year of the introductory period, the card’s APR will be different. Ideally, it’s better to always clear your balance every month,
however, Citi has a low student interest rate that would come in handy in the event a student needs it.
5. Credit monitoring and Educational utensils
Discover understands that most of the students are first time users of credit. To assist with this, the card comes with the benefit of Free FICO credit score.
They will be so useful for college students seeking to establish credit as well as keep track of it.
Moreover, its latest services include Discover personal payments, and other money management solutions and content to help students learn budgeting skills and better credit scores.
The perks offered by the Discover Student Travel Card also include exclusive services.
1. Good Grades Reward
Discover understands that education is crucial. They also get $20 statement credit annually for up to 5 years as long they maintain 3.0 GPA and above This particular attribute.
encourages wise expenditure together with good performance, a quality that is not easily found in student credit cards.
2. Flexible Payment Options
Still, student customers who earn income differently through employment or internships will prefer Discover card services due to their affordable payment options.
This means that the card can be customized to actualise specific payment due dates and even the payment can be made using the rewards earned.
This flexibility proves to be of immense importance for students who at the same time undertake financial responsibilities in school.
3. Zero Dollar Late Fee on the first late payment
Sometimes it is impossible to avoid an accident, and Discover does know it. By the virtue of being students using credit cards for the first time,
they may default on payment sometimes. Discover does not charge you a penalty in case you delay your first payment making it a suitable company for students who are learning on how to make their own financial decisions.
Nonetheless the payments regarding those debts should be made on time to eliminate accrue of interest charges and create favorable credit history records.
Useful Information on the Practical Usage of Discover Student Travel Card
Thus, despite all the advantages of Discover Student Travel Card, such as high rewards and lots of student-friendly features,
a student should bear in mind he/she should not overspend and better not miss credit deadlines. Here are a few tips:
– pay on Time: It is recommendable always to pay at least the minimum amount required by the due date to avoid extra charges of a penalty and the interest to be charged.
– Keep Track of Spending: Avoid going for expensive brands in order to avoid getting into more debts than you can afford.
– Take Advantage of Rewards: Don’t forget to opt in the 5% cash back categories to ensure that you are enjoying the best rewards each quarter.
– Build Credit History: Just swipe the card as often as possible but avoid having the balance go over to the next month to establish good credit.
– Cash-Back Match in the First Year
In addition to the cash back categories and bonus rewards, Discover provides new card members with a cash-back match during their first year as a Discover cardholder.
This means that Discover will double the amount of cash-back you have earned in the first one year of membership.
For example, if you received $100 in cash back during the first year of having the Discover card, Discover will double that and contribute an extra $100.
In this aspect alone the card is very appealing to the students who intend to transact with the card frequently.
– Foreign Transaction Fees
In line with the current market trends hoping gone are the days that the card translates to hefty foreign transaction fees.
For those students studying or, indeed, if you are in general, in any other country, the Discover Student Travel Card does not attract any foreign transaction fees Most credit cards.
attract an international transaction fee between 2% and 3% for purchases made in other countries besides the United States and these fees pile up very fast if you are an intense traveler.
The usage of the Discover card does not include those extra fees mentioned above and this means that you will not incur anymore extra costs while buying your products in the foreign countries.
However, it’s important to note that Discover may not be accepted a some of the international locations. Today, Discover is recognized worldwide in over 200 countries and it is still.
advisable to take an additional payment card with you when traveling internationally.
– Low Introductory APR
Furthermore, the Discover Student Travel Card comes with the factor of Purchases- introductory APR of 0% for the first six months.
This is very convenient if a student is required to pay a certain amount of money today while knowing that the amount will be paid off in the next few days dearth high interest fees.
However, as far as rates are concerned, after the initial period of the low introduced APR of 6%, the rate will fluctuate,
and be switched to variable on the basis of equal monthly instalments throughout the outstanding balance until it is paid off in full, dependant upon the customers credit status.
What one should always remember though is the introductory aspect of the APR is beneficial but having a balance after.
the promotional period attract debt accumulation which is not good hence should clear your balance each month if you can.
– Rewards for Good Grades
For those students who maintain a proper standard in their performance, Discover privileges them with a standard bonus.
If you achieve a cumulative or semester GPA of 3.0 or higher you will receive up to five years of up to $20 statement credit This reward is fine for students to look forward to as it also prospers them for working hard towards their studies.
– Check and Monitor Your FICO Credit Score Without Charge
About the Discover Student Travel Card:- Free access to FICO credit score: The card gives each student an opportunity to improve their credit score.
This enables you to check on your credit score and also see how your kind of spending impacts on it. To this end, Discover also provides material and guidance on how to work on credit over time that will help you build your credit score.
It is important for students to maintain the scores for the simple reason that good credit score enables one to have access to better products in the future such as loans, mortgages and high limit credit cards.
More Benefits and Privileges
Students get several protections and other extra benefits when they sign up for the Discover Student Travel Card.
1. Fraud Protection
It’s also important to note that the card has $0 fraud liability which translates into saying that you will not be held liable for any transaction executed using the said card after it has been lost or stolen.
Discover includes card replacement as well as immediate account freezing in case of card loss or theft through the Discover mobile app.
2. Flexible Payment Options
The payment processes at Discover are liberal with students having the opportunity to renegotiate the payment due date to a more appropriate one in a month.
This is a fantastic feature if you are a student, for instance, with a busy working schedule or an irregular income-source.
3. Late Payment Forgiveness
It is common for a first-time credit card holder to miss a payment deadline you set for a certain date. One of the benefits of choosing Discover is that they don’t charge a late fee for the first payment missed for bearing unnecessary charges.
Nonetheless, the subsequent payments can be made with a certain fee so one should definitely get used to timely payment.
How to apply for Discover Student Travel Card
It is easy and fast to apply for the Discover Student Travel Card as explained in this article. You can apply online by providing your personal and financial details, including your:
First name and surname, full postal address, and social security number
Employment data (if available or current job is only a part-time job or is earning through allowance).
– School enrollment details
Discover does not ask you to have many years of credit experience, so many students are able to use this card. Credit decisions are immediate and you are able to begin using the card after receiving a mail with the card details.
Conclusion
The Discover Student Travel Card is a perfect example of the best credit card for students, who are struggling to establish their credit scores,
and dream about getting actual rewards while maximizing their opportunities to travel internationally with minimal fees.
No annual fee for using this card and opportunities to get 5% cash-back on the credit and debit purchases in the revolving categories as well as student-friendly.
features such as the Good Grades Reward make this card useful for young people to manage their finances efficiently.
When applied to the card and extended to the maximum, a learner can indeed get the feel of the benefits in the card while at the same time building his credit profile for the future.
If you are a business traveler, a foreign student or just someone who wants to be rewarded for his travels.