Discover has quietly announced a new benefit for new (after July 23rd, 2015) Discover it for Students & Discover it Chrome for Students cardholders called “Good Grades Cash Back”. If your grade point average is 3.0 or higher each year you’re enrolled in school, you’ll receive a $20 bonus (for a maximum of five years). This is in addition to the rewards programs each of these cards currently offer:
Discover it Student (same rewards structure as regular Discover it card):
- 5% cash back on rotating categories
- 1% cash back on all other purchases
- Free FICO score
Discover it Chrome for Students (same rewards structure as regular Discover it Chrome card):
- 2% cash back in gas and grocery stores (up to $1,000 per month)
- 1% cash back on all other purchases
- Free FICO score
At the moment neither of these cards have a cash sign up bonus, but they do both receive double rewards for the first twelve months. It’s unclear if the $20 bonus will also be doubled, but I suspect it will making the bonus worth $40 the first year.
This isn’t the first time Discover has rewarded students with good grades, they also offer up to 1% cash back on loans where the student has a GPA of 3.0 or higher as well. I love card benefits like this, it encourages cardholders to study hard (a positive) and also rewards them for doing so (another positive) kudos to Discover. Unfortunately Discover recently removed a lot of benefits for cardholders, so hopefully this is a sign of them being replaced with more useful benefits instead.
