The Discover it® Student Cash Back is like a kindly grandparent, giving those with fledgling credit histories a chance, and it charges no annual fee. Earn 5% cash back at Amazon.com, Walmart.com and Target.com on up to $1,500 in purchases, when you activate. Thankfully, credit card terms can be flexible, and only require you to make a payment of at least the minimum payment each month, on or before the payment due date. Discover it Cash Back credit card minimum payment calculator is an easy-to-use tool that helps you find out how many months you’ll need to pay off your Discover it credit card balance if you pay the minimum every month. What Does It Mean to be “Pre-Approved” for a Credit Card? While you can get approved for the Discover it® Secured with bad credit, the Discover it® Student Cash Back requires at least a Fair credit rating. With the good grades program, you can earn a $20 statement credit each school year that your GPA is 3.0 or higher (for up to the next 5 years), giving you a little extra cash in your pocket. Discover it Student Chrome. You will need 169 months to pay off your card. browser to access this page. Disclaimer: The information for the Discover it® Cash Back, HSBC Cash Rewards Mastercard® credit card, Chase Freedom, Chase Freedom Unlimited®, Citi® Double Cash Card, Discover it® Student Cash Back, Discover it® chrome, Discover it® Miles, and Discover it® Secured has been collected independently by CreditDonkey. And when you make a charge, you are receiving a loan. Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. The Discover minimum payment calculation is a bit unusual. 12 Designed just for students Discover it® Student Cash Back: Earn 5% cash back on up to $1,500 per quarter in spending in rotating categories that you activate. browser has not been updated. You can configure email and text alerts to notify you when your payment is due. Click “Calculate” and get the full amortization schedule. The Discover minimum payment is the greater of $20, 3% of the full balance plus any past-due amount, or $15 plus new interest and late fees. The results presented by this calculator are hypothetical and may not reflect the actual growth of your own investments. There's also no annual fee. So long as you make at least the minimum payment on time each month, your account is considered current. By using this calculator you agree to terms and conditions. What Is the Minimum Payment on My Credit Card. The Discover minimum payment is the greater of $20, 3% of the full balance plus any past-due amount, or $15 plus new interest and late fees. So, what is your Discover® card minimum payment? Why we like it: This is a flexible card with a generous cashback rate. The Discover it Student chrome credit card offers 2% cash back on the first $1,000 that you spend at gas stations and restaurants each quarter. Feedfeeds is not responsible for any human or mechanical errors or omissions. Finally, Discover has a secured credit card for consumers who need to rebuild their credit. Earn 1-percent cash back on non-bonus category spending. Discover’s Cashback Match will double that to 10% in the first … $20 statement credit each year your GPA is 3.0 or higher, for up to 5 years. more in the Discover Help Center, The Importance of Making the Minimum Payment. Not now. Menu. Still, 2% back is almost double the average for a cash rewards card, market-wide, according to WalletHub’s latest Credit Card Landscape Report. The Discover it® Cash Back is quite popular. Do NOT follow this link or you will be banned from the site. You'll Find out how you receive pre-approved credit card offers, what to look for and how you can opt-out. So you can earn no more than $80 in bonus rewards per year. There’s no minimum spending or maximum rewards. Legal Disclaimer: This site is for educational purposes and is not a substitute for professional advice. All rights reserved. To protect your account security, Both cards offer a first-year cash back … The Discover it® Student Cash Back card is one of two Discover student credit cards available right now, and it offers the highest cash back rate among them, at up to 5% back on certain purchases. Earn 3% cash back on gas, groceries, and drugstore purchases for the first 6 months from account opening. Discover will automatically match all the cash back you’ve earned at the end of your first year! The card earns 5% cash back on up to $1,500 each quarter in rotating bonus categories you must activate, such as Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal. Pros. Learn how to get a credit card even if you have no credit history. Student credit cards are a bit different than other first credit cards, because credit card issuers tend to give better offers to students than non-students in similar financial situations. Your minimum payment could be calculated in several different ways and can vary from card to card. Discover Bank offers competitive online banking products with decent rates. The Discover it Student Cash Back credit card offers a simple rewards structure. Plus, earn unlimited 1% cash back on all other purchases. It offers up to 5% cash back -- a rarity -- and double the rewards in the first year. 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