The Discover good grades bonus is $20 per year you earn a GPA of 3.0 or higher, for up to five years. This Discover good grades bonus is available with the Discover it Student Cash Back and Discover it Student Chrome credit cards.
Getting your Discover good grades bonus for your credit card is easy. All you have to do is log in to your online account and go to “Your Shortcuts,” then “Good Grades Reward.” After you submit your school’s grading range and your GPA, you’ll receive a $20 statement credit within 7 business days.
It’s possible that Discover might ask you to send them proof of your grades, such as an academic transcript. If they do, you won’t be able to receive your bonus until you provide this proof. But Discover won’t always ask for verification.
You can also get a Discover good grades bonus with a student loan. That works a little differently. Instead of getting a flat cash back amount each year you instead get a one-time reward of 1% of the loan amount. There are a few more details of these two offers you should know about.
Here’s how the Discover good grades bonus works:
- Discover’s student credit cards give $20 cash back every year you have a 3.0 GPA or better – for up to five years.
- To get your card bonus, log in to your online account and go to “Your Shortcuts,” then “Good Grades Reward.” Put in your school’s grading range (e.g. 0.0 to 4.0) and your own GPA.
- The Discover good grades credit card bonus comes as a statement credit within 7 business days of when you submit your grades.
- If you have a Discover student loan and graduate with a 3.0 or higher, you’re eligible for a one-time cash bonus of 1% of the loan amount.
You are eligible for the Discover student loan good grades bonus if you took out such a loan on or after May 14, 2014 and graduated with a GPA of 3.0 or higher.
To collect your bonus, log in to your student loan account and submit your grades within 6 months of the academic period covered by the loan ending or 6 months after the loan’s final disbursement, whichever is later. You’ll get your 1% Discover good grades bonus as a check within 2-3 weeks.
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