Wayne Iversen, Member
@iversenwayne
The Discover it® Student Cash Back APR is 0% for 6 months intro on purchases and 10.99% for 6 months intro on balance transfers. After that, the regular APR of 16.49% to 25.49% Variable applies to any remaining balance, as well as to new purchases if you don’t pay in full every month. You won’t be charged interest if you pay off the entire balance within the grace period each month. The Discover grace period is 25 days from the end of the billing cycle (23 days if it falls during February). Grace periods do not cover cash advances and balance transfers.
Like its sister card, the Discover it® Student Chrome card offers 0% for 6 months intro on purchases and 10.99% for 6 months intro on balance transfers. And its regular APR is 16.49% to 25.49% Variable, depending on each applicant’s creditworthiness. Both cards charge a balance transfer fee of 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
Bear in mind that Discover may cancel the introductory APR and replace it with the regular rate if there’s any late or missed payments during the promotional period. But neither Discover student card charges a penalty APR for delinquent payments.
You can find the APR, or Annual Percentage Rate, on your credit card agreement and monthly statements. It tells you how much interest you’ll pay on a balance over the course of a year. The regular APR, or “purchase” APR, is almost always presented as a range. Generally, the better your credit profile, the better chance you have of receiving an APR at the lower end of the scale. The student cards’ APRs are in line with other Discover cards.
You won’t have to be concerned with APRs if you pay your bill in full and on time every month. You’ll not only avoid excessive interest charges and any late fees, but you’ll be building a solid credit history. Building credit should be the primary reason to open a student credit card account in the first place.
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People also ask
How do you find the interest rate on a Discover card?
To find the interest rate on a Discover card, look for the “Interest Charge Calculation” section on your monthly billing statement (electronic or paper). There, you will find the Annual Percentage Rates (APRs) for your account. If you don’t have your monthly statement handy, you can log in to your online account and download/print a copy any time.
You can also call Discover customer service at 1 (800) 347-2683 to find your interest rate. Follow the prompts until...
read full answer by WalletHub, Financial CompanyWhat is the best Discover student credit card?
The best Discover student credit card is the Discover it® Student Chrome card because it gives 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined), and 1% back on all other purchases. That puts it in the top tier of student credit cards overall. Discover it Student Chrome also matches the rewards new cardmembers earn the first year, as an anniversary bonus. That can be a huge benefit if you’re maxing out the card’s 2% categories.
The other Discover student card contender is the Discover it® Student Cash Back card, which gives 5% cash back on up to $1,500 in combined category spending per quarter in rotating bonus categories (which change every quarter and require activation), and 1% back on all other purchases. You have to sign up for...
read full answer by Lisa Cahill, Credit Cards ModeratorWhat is the Discover card penalty APR?
The Discover card has no penalty APR.
What’s even better is that if it’s your first time being late with a payment, you won’t have to pay a late fee. After your first time, you’ll be charged with up to $41.
While this is pretty generous, it should in no way encourage you to make a late payment.
read full answer by Andrew Sutton, MemberDid we answer your question?
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