Discover® Student Card - Monogram Collection Information, Reviews, Ratings

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12/1/2008, Monday, 6:47pm (PST)

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Discover® Student Card - Monogram Collection
Issued by Discover

Discover? Student Monogram Card

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Review

The Discover® Student Card - Monogram Collection, issued by Discover, provides a Cashback Bonus® reward program as well as a personalized card design that displays the cardholder's initial(s).

Through the reward program, students can earn a 5% rebate for purchases made in popular categories that change four times a year like travel, gas, restaurants, movies, and more. In addition, cardholders earn up to 1% for general purchases.

Those who spend up to $1,500 on general purchases will receive a .25% rebate, between $1,500 and $3,000 will receive a .5% rebate, and over $3,000 will receive a 1% rebate.*

Cardholders also earn a 0.25% rebate at select warehouse clubs and discount stores, and they can earn a double Cashback Bonus® for redeeming their rebates for gift certificates from participating Discover Card Partners. There is no yearly limit on the amount of rebates that can be earned, and rebates do not expire as long as the account is active within a 36-month period.

Aside from the reward program, the unique feature of this card is that cardholders can choose from three card designs that will display either their first initial or their first and last initials on the front of the card.

The card also provides standard benefits, including online account management, no liability for unauthorized transactions, and discounts on products and services at participating merchants and retailers.

The APR for this card is reasonable and there is no annual fee and 0% interest on purchases for six months.

Therefore, those who plan to spend over $3,000 a year (to earn the 1% cash rebate), plan to use their Cashback Bonus® award at participating retailers (to earn a full 5% rebate and double cash rebates), and plan to pay in full each month (to avoid costly finance charges) will benefit most from what the Discover® Student Card - Monogram Collection has to offer.

*It is important to note that like many cash reward cards, the highest rebate offered will not apply to all purchases made with the credit card. In this case, 1% will be applied only to those purchases made after the cardholder spends over $3,000 in one year, so the overall cash rebate earned will be less than 1%, depending on the amount spent. For instance, if the cardholder were to spend $4,000, only $1,000 of this amount would be applied towards the 1% rebate. However, this does not take into account any promotional offers or the full 5% Cashback Bonus® award.

Updated: November 11, 2008

Most Attractive Feature(s) : Personalized card design; double cash rebates at participating retailers and merchants (through the Cashback Bonus® award program); no annual fee; 0% intro APR on purchases.

Least Attractive Feature(s) : Low rate not available to all applicants.

Note: The review on this card was updated on November 11, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.

Specifics

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Category Definitions

Card Category: Student

Introductory Rate : 0% Interest* for 6 Months

Applied Towards : Purchases

Introductory Rate Details : There is a 0% introductory APR* on purchases for 6 months. See terms and conditions for complete details.

Annual Fee : $0

Additional Cardholders : $0

Grace Period : 25 Days (Min.)

Minimum Credit Limit : $500

Maximum Credit Limit : $5,000

Late Payment Fee : $19 on balances up to $250; $39 on balances over $250

Over-The-Limit Fee : $15 on balances up to $500; $39 on balances over $500

Cash Advance Fee : 3%, $5 minimum

Balance Transfer Fee : None

Reward Program Details

Rebate Minimum : .25%

Rebate Maximum : 5%

Additional Rebates : Earn a 5% Cashback Bonus® in popular categories that change four times a year like travel, gas, restaurants, movies, and more. Earn a 0.25% rebate at select warehouse clubs and discount stores. Earn up to double Cashback Bonus® at participating Discover Card Partners.

Rebate Details : Earn a 0.25% rebate for up to $1,500 in general spending; 0.5% for over $1,500 up to $3,000; and 1% for over $3,000. Reward is redeemable in $20 increments only.

Expiration : None (Account inactivity for more than 36 months could result in the forfeiture of some or all of the Cashback Bonus?.)

Yearly Limit : None

Perks / Notations

Additional Perks

Various Internet account related services.
Cardholders choose their personalized card design.
No liability for unauthorized transactions.
Fraud and security protection services.
Discounts on products and services at participating merchants and retailers.
See website for additional benefits.

Important Notations

See website for complete terms and conditions of card usage and application disclosure.

Additional Information

Apply Online for the Discover® Student Card - Monogram Collection.

See other cards issued by Discover

APR (Purchases) : 14.99%

APR (Cash Advances) : 23.99%

Finance Configuration : Average Daily Balance (including new purchases)

Credit Card Reviews - Ratings are based on the CardOffers.com rating system. Posted ratings should not be the only factor in helping you decide which credit card is right for you. Reviews are believed to be accurate during time of evaluation; however, information posted may change after the review date. By entering this page you agree to the Terms and Conditions of CardOffers.com.

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