Being an international student in the United States can be an exciting experience, as you get to explore a new culture and meet new people. However, it can also come with its fair share of challenges, especially when it comes to financial matters. One of the most common concerns reported by international students involves obtaining a credit card with favorable terms. If you are an international student in the United States with an F-1, J-1, or OPT visa, and no Social Security Number (SSN) and no U.S. credit history, the Discover it Student Cash Back card might be a good fit for you. I, as an international student in the US, have done research and tested the card first-hand to review its features, so now I am here to share my honest Discover it Student Cash Back review with you.
Discover it Student Cash Back: An Overview
The Discover it Student Cash Back card is targeted towards students and is designed to help them build a strong credit history with responsible use of credit card. Although it is designed for students, anyone can apply for the card as long as they meet the eligibility requirements. The eligibility requirements for this card include having a Social Security Number (SSN) and being 18 years of age or older.
Under the Discover it Student Cash Back rewards program, cardholders get 5% cash back on purchases made in specific categories that change every quarter, and 1% unlimited cash back on all other purchases. The maximum amount of cash back that you can receive each quarter is limited to $1,500. The card also comes with a 0% introductory annual percentage rate (APR) on all purchases for the first six months, and a variable APR of between 15.24% to 24.24%, as reported on the Discover website, thereafter.
Pros and Cons
Pros
No Annual Fee: One of the most attractive features of the Discover it Student Cash Back card is that there is no annual fee.
Introductory APR: The introductory APR of 0% for the first six months is a great way for students to save money on purchases and interest during the school year.
No Late Fees or Penalty APR: With the Discover it Student Cash Back card, you also won’t have to worry about incurring late fees or penalty APR, making it an ideal choice for those who want to build their credit without the stress of additional charges.
5% Cash Back on Rotating Categories: The periodic 5% cash back offer is a great way to reward cardholders for making purchases in specific categories that change every quarter.
Good Credit Card for Beginners: For students with little to no credit history, the Discover it Student Cash Back card is a great way to start building a good credit history.
Cons
Foreign Transaction Fees: One of the downsides of the Discover it Student Cash Back card is that it comes with a foreign transaction fee of 0% to 3% of each purchase made outside the U.S. This could be a disadvantage for students who are studying abroad.
Potentially High APR: The variable APR can go as high as 24.24%, which is high compared to other secured credit cards targeted towards students.
Applicant Requirements: The card requires applicants to be at least 18 years old and have a Social Security Number (SSN). Some students may not meet the application requirements for this card.
Comparison Table: Discover it Student Cash Back vs. Competitors
Below is a comparison table of the Discover it Student Cash Back card and some of its major competitors geared towards students with no SSN and no credit history.
| Discover it Student Cash Back | Journey Student Credit Card from Capital One | Bank of America® Customized Cash Rewards Credit Card for Students | |
|---|---|---|---|
| Cash Back | 5% in rotating categories(upto $1500) and 1% on all purchases | 1.25% on all purchases | 3% on gas, 2% on groceries, 1% on all other purchases |
| APR | 0% on purchases for first 6 months followed by 15.24%-24.24% | 26.99% | 14.99%-24.99% |
| No Foreign Transaction Fee | No | Yes | No |
FAQ
Who is eligible for the Discover it Student Cash Back card?
All F-1, J-1, and OPT visa students with no previous U.S. credit history are eligible to apply for the Discover it Student Cash Back card.
Will my application for the Discover it Student Cash Back card be denied if I don’t have an SSN?
No, as an international student with an F-1, J-1, or OPT visa, you can still apply for a Discover it Student Cash Back card, even if you don’t have an SSN.
Can international students studying in the USA with F-1, J-1, or OPT visa apply for the Bank of America Customized Cash Rewards Credit Card for Students?
Bank of America requires that applicants for the Customized Cash Rewards Credit Card for Students be U.S residents with good credit history or co-applicants, which means that international students studying in the USA with F-1, J-1, or OPT visa would not be eligible.
Final Recommendation
As an international student studying in the U.S., I would recommend the Discover it Student Cash Back card to anyone looking for a credit card to start building a good credit history. The card has great features, such as 5% cash back on rotating categories, no annual fee, and no late fees. However, it may not be an ideal choice for students planning to study abroad, as it comes with a foreign transaction fee. Overall, the Discover it Student Cash Back card is a good option for those looking to build credit history responsibly.
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