How can a student get the Discover good grades bonus?

Current Discover card promotions include a dollar-for-dollar rewards match at the end of the first year, up to 5% cash back on purchases, 0% APRs for up to 18 months and even $20 for good grades on student credit cards. None of Discover’s credit cards charge annual fees or foreign transaction fees, either.… read full answer

There are plenty of other perks, too, such as free credit scores. And together, all these Discover card promotions form a portfolio that can meet any cardholder’s financial needs.

Here are the latest Discover Card promotions:

• Double rewards the first year: Available on all Discover cards. Discover will match all the cash back you've earned (or miles on the Discover it Miles card) at the end of the first year. Offer only for new customers.
• 5% cash back: The Discover it Cash Back and Discover it chrome cards offer 5% cash back on the first $1,500 you spend each quarter in rotating bonus categories.You must activate the bonus each quarter by clicking “Activate Now” and logging in to your Discover account. You also receive unlimited 1% cash back on all other purchases.
• No annual fees or foreign transaction fees: Discover cards do not charge annual fees or foreign transaction fees. There are no penalty APRs for late payments, and Discover waives the fee for your first late payment. You could be charged up to $37 for subsequent late payments. There’s a 5% fee for cash advances (minimum $10) and a 3% balance transfer fee.
• 18-month balance transfer offer: Available only on the Discover it Balance Transfer card, which charges a 3% balance transfer fee and gives 0% for 6 months on purchases. Other Discover cards offer shorter balance transfer periods, ranging from 6-14 months of reduced or 0% interest.
• 14-month 0% purchase intro APR: Available on the Discover it Cash Back, Discover it chrome, Discover it Miles and NHL Discover it cards. Discover it Student Cash Back and Student chrome offer 0% for 6 months on purchases.
• $20 per year for good grades: Discover it Student Cash Back and Discover it Student chrome give you a $20 statement credit for each school year that your GPA is 3.0 or higher, for up to five years. You just have to log into your Discover account and enter your GPA. Discover may request documentation.

As you can see, there’s a lot to like about Discover card promotions. The one thing you won’t see on any current Discover cards, though, is an initial bonus for spending a certain amount after you get the card. But Discover makes up for that by matching the first year’s rewards on all their cards.

There used to be another Discover card promotion called “Discover Deals,” where you could get extra discounts or bonus points for shopping with over 200 retailers in Discover’s online mall. Unfortunately, that program ended on October 31, 2018.

​You can get a Discover Card referral bonus by logging into your Discover account online and creating a referral link, which you can then share with friends and family. If someone you invite gets approved, both you and that person will earn $50 bonus cash back, or 5,000 bonus miles if you have a miles card. The person you referred just has to make a single purchase to get their reward. You can do this up to 10 times a year, for a total of $500 cash back or 50,000 miles. And if it’s your first year with one of the Discover it cards, all the rewards you earn (including referral bonuses) get matched at the end of the year.… read full answer

It costs nothing but a few minutes of your time to make referrals, so it’s definitely worth doing. Let’s look at the details.

Here’s how to get a Discover Card referral bonus:

1. Go to Discover’s Refer-A-Friend page and log in with your username and password.

2. Choose whether to create a link to distribute yourself or automatically email select individuals. If you make a link for anyone to use, you can share it on Facebook or Twitter.

3. Wait for people to use your link. You’ll have to ask them to let you know if they get approved. Discover, unfortunately, won’t notify you.

4. After your referral is approved, wait 1-2 billing periods for the reward to actually show up in your account. If it doesn’t, call Discover customer service at 1-800-347-2683.

So in conclusion, the Discover referral bonus is a great value, and it’s super easy to get as long as you have friends who are able to get approved for the card you refer them to. It just might take a while for you to receive the rewards you’ve earned, which can be frustrating.