Discover Gives $20 Bonus to Cardholders with Good Grades
Students who sign up for a new Discover credit card can earn a $20 bonus each year for good grades.
New cardholders on the two Discover student cards will receive the bonus if they have at least a 3.0 GPA or equivalent each year they are enrolled in school. The offer is good for the first five years from the time the account is opened.
Students can earn the $20 per year bonus by opening a Discover it for Students card or a Discover it Chrome for Students card.
Those cards have lucrative ongoing rewards for students. The Discover it for Students card gives 5% cashback in categories that change each quarter up to a quarterly maximum, plus 1% cash back on all other purchases.
For the Discover it Chrome for Students card, consumers receive 2% cash back automatically on up to $1,000 in combined purchases at restaurants and gas stations each quarter, as well as 1% cash back on all other purchases.
Discover cardmembers have two other significant features. They receive their free FICO score online, via their mobile app, and on their monthly statements to help keep track of their credit score. In addition, the cards have the Freeze It feature, an on/off switch for their card. This allows cardholders to freeze their card in seconds using a mobile app or website to prevent new purchases, balance transfers and cash advances.