PROS / The Discover® Student Open Road Card does not charge extra for use outside of the United States.
CONS / Cash advances cost 5%.
VERDICT / This college student credit card has a low APR and good cash back benefits.
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The Discover® Student Open Road Card student card is competitive in terms of APR (annual percentage rate) and rewards and has a nine-month introductory period during which you pay zero interest. It pays double cash rewards for gas and restaurant transactions. There are many good ways to redeem the cash back bonus. There is no annual fee. Customer service is friendly and available 24/7. There is a useful online account center. If you are looking for one of the best student credit cards, this one wins the TopTenREVIEWS Bronze Award.
After the introductory period, student with good credit will pay 12.99% APR. Students with problematic credit histories will pay 18.99%. Balance transfers are also in the 12.99-18.99% range. These APR rates are among the best for college student credit cards. You have a 23-day grace period, two days longer than the law requires. If you pay off your entire balance by the due date each month, you will not accrue any interest charges. The APR for cash advances on your card is 24.99%.
Fee & Penalties
If you buy from the approved online mall, the cash back bonus is from 5-20%. Purchases at gas stations and restaurants yield a 2% cash back bonus limited to $250 in purchases each month. The first $3,000 of purchases earns .25% cash back. After the first $3,000 is completed, the cash back is then 1%. Rewards have no expiration date as long as you keep the account open, use it at least every 18 months and never fall behind on payments for two consecutive months.
Once you have accumulated at least $20, you can start redemptions. To redeem cash back you can deposit it into your bank account, credit your credit card account, purchase a gift card or donate to charity. You can also redeem cash back accumulations with specified suppliers who will not charge sales tax and they ship for free.
This college student credit card is protected by security features such as multiple firewall layers, active system monitoring to provide real-time alerts and 128-bit Secure Socket Layer that protects your online sessions. If anyone uses your card without your permission, you are not liable. Discover hosts an online student center that lets you opt for paperless statements and teaches about credit. There is also an online budget calculator and a spending analyzer. If you would like to set up email reminders or online bill payment, the student center shows you how. If you have this card then you automatically have excess collision damage waiver insurance and scheduled air travel accident insurance.
Late payments can cost up to $35. Cash advances cost 5%, so think twice about doing that. The charge for balance transfers is 3%. Unlike some student credit card competitors, the Discover® Student Open Road Card doesn’t charge more if you use the card outside of the United States. So this would be a good card to take for that summer math intensive in Dublin.
In the competitive world of student credit cards, the Discover® Student Open Road Card has a great rewards program and competitive annual percentage rates. Customer service is responsive and the online tools are useful. There is no annual fee and if you want to use the card outside of the United States, it won’t cost you more. We find this to be one of the best student credit cards.