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Discover Card Offers A Good Grades Reward Program

July 31, 2015

New Student Cardmembers can Earn a $20 Cashback Bonus® Each School Year

RIVERWOODS, Ill.--(BUSINESS WIRE)--Jul. 31, 2015-- Discover is giving students who sign up for a new Discover student credit card an added incentive to get good grades while they are in school. New student cardmembers who apply after July 23, 2015 will be rewarded with $20 in Cashback Bonus® if their grade point average is 3.0 (or equivalent) or higher each year they are enrolled in school, for the first five years from the account opening.

“This best in class program for new Discover cardmembers gives students an opportunity to earn a bonus for hard work in their classes,” said Ryan Scully, a marketing vice president at Discover. “It is also a good way for students to experience the benefits that come with being a Discover cardmember.”

The Good Grades $20 Cashback Bonus will be in addition to the current rewards structures for the two student credit cards Discover has available:

  • Discover it® chrome for Students offers an automatic 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases quarterly.
  • Discover it® for Students offers 5% cash back in categories that change each quarter, up to the quarterly maximum in combined purchases, when you sign up.
  • Both cards earn 1% cash back on all other purchases.

When students become a new Discover cardmember they receive a variety of benefits that continue even after school. All Discover cardmembers receive their recent FICO® Credit Scores for free1 and have the ability to view key factors that impact their scores. They will have access to Freeze ItSM – an on/off switch for their card. Cardmembers can freeze their card in seconds using our mobile app or website to prevent new purchases, balance transfers and cash advances. Discover cardmembers also have the support of award-winning U.S.-based customer service.

“We think it’s important that students understand good credit habits and the importance of a healthy FICO® Credit Score,” Scully added. “Once a student graduates, they will continue to get these great features to help achieve their personal goals and better prepare them for the future.”

This is the second Good Grades Reward program for Discover. Discover Student Loans launched a Cash Reward for Good Grades program in 2014. Customers who have a Discover student loan can go to DiscoverStudentLoans.com/Reward for terms and conditions. Customers who obtained a Discover student loan after April 30, 2014 and are a new Discover Student cardmember are eligible for both bonuses and must apply for and redeem them separately.

To learn more about Discover’s student cards please visit: www.discover.com/credit-cards/student.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discover.com/company.

1 Your FICO® Credit Score is based on data from TransUnion and may be different from other credit scores. Limitations apply to the FICO® Credit Score for free benefit. See Discover.com/FICO to learn more. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

Source: Discover Financial Services

Discover
Derek Cuculich, 224-405-0665
derekcuculich@discover.com