Discover it Secured vs. Discover it Student Chrome
Key takeaways
- The Discover it® Student Chrome and the Discover it® Secured Credit Card are both viable options for students and are similar in almost every way.
- Both cards have the same rewards structure — which includes boosted rewards for dining and gas purchases — and both cards have no annual fee or foreign transaction fees.
- The Discover it® Secured Credit Card, however, requires a security deposit to open — but this also means that it’s available to people who aren’t students, unlike the Student Chrome.
Opening a student credit card is a smart idea for those who are looking to build credit while managing their finances amidst a full class schedule.
Although similar to regular rewards credit cards, student cards are typically easier to be approved for and have perks that align with the average student’s spending habits. The Discover it® Student Chrome is geared toward students, whereas the Discover it® Secured Credit Card is technically for anyone, regardless of whether they are currently enrolled in school. Both share the ability to get approved with limited or no credit history.
Keep reading to learn about the rewards rates, welcome offers and additional perks of the Discover it® Secured Credit Card and the Student Chrome, as well as how they stack up against each other in these categories.
Main details
| Details | Discover it® Secured Credit Card | Discover it® Student Chrome |
|---|---|---|
| Welcome bonus | Discover will match all the cash back you earn at the end of your first year | Discover will match all the cash back you earn at the end of your first year |
| Rewards rate |
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| Intro APR | 10.99% intro APR for 6 months on balance transfers (3% intro balance transfer fee, then 5%) | 0% intro APR for 6 months on purchases, 10.99% intro APR for 6 months on balance transfers (3% intro balance transfer fee, then 5%) |
| Regular APR | 28.24% variable ongoing APR | 18.24% to 27.24% variable ongoing APR |
| Annual fee | $0 | $0 |
Discover it® Secured Credit Card vs. Discover it Student Chrome highlights
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Both the Discover it® Secured Credit Card and Discover it Student Chrome feature Discover’s Cashback Match welcome bonus. With either card, Discover will match all cash back earned within the first year of card ownership, regardless of how much you’ve racked up. It’s an easy way to amass rewards, especially if you plan on spending a lot within the first year of owning either card.
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The Discover it® Secured Credit Card and the Discover it Student Chrome are also tied when it comes to ongoing rewards. With both cards, you’ll earn 2 percent cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, as well as 1 percent cash back on all non-category purchases. These rewards never expire and can be redeemed at any time.
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Students, many of whom are strapped for cash, will be pleased to know that neither card charges an annual fee.
However, the Discover it® Secured Credit Card requires a minimum security deposit of $200 that becomes your credit line. Discover will refund this security deposit in as little as 7 months if you pay your bills on time and keep your account in good standing, but this could still prove to be a problem for students without much cash up front.
Discover it Student Chrome
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Both the Discover it® Secured Credit Card and Discover it Student Chrome offer a 10.99 percent intro APR on balance transfers for the first six months, followed by a variable APR of 28.24 percent for the Secured and between 18.24 percent to 27.24 percent for the Student Chrome.
The Student Chrome card wins out overall, though, thanks to its introductory 0 percent APR on purchases for six months (followed by the same variable APR) — a good perk for students looking for some breathing room to pay off textbooks or another expensive purchase.
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Neither the Discover it® Secured Credit Card nor the Discover it Student Chrome have foreign transaction fees, making them both good options for students who plan to study abroad.
Which card earns more?
The Discover it® Secured Credit Card and Student Chrome offer the exact same rewards potential, but it’s important to factor in the limits of the security deposit for the Discover it® Secured Credit Card. We’ve included a spending example below to highlight this:
Spending example
Both cards offer a rewards rate of 2 percent cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, with 1 percent cash back on everything else. Let’s say you:
- Spend $1,000 total every three months on dining and gas purchases ($4,000 for the year)
- Spend $1,000 in miscellaneous purchases for the year
You’ll earn $80 in cash back rewards with either card from the 2 percent category and $10 from the 1 percent category, bringing your cash back total to $90 by the end of your first year. And with the first-year welcome bonus, that doubles to $180 in cash back earned in year one.
However, there’s a catch. You may not be able to earn as much with the Discover it® Secured Credit Card because your credit limit is determined by the amount you put down for your security deposit (minimum $200). Therefore, if your credit limit is only $500, you might not be able to maximize your reward rate’s potential as easily. Although you do get your security deposit back after keeping your account in good standing and paying your bills on time, you’ll still be paying more up front to carry the Discover it® Secured Credit Card.
Why should you get the Discover it® Secured Credit Card?
The Discover it® Secured Credit Card is a readily available card that can help you establish a positive credit history and build credit when used responsibly — all while earning a modest amount of cash back alongside a potentially lucrative welcome bonus. Some additional reasons to choose this card include the following:
Additional benefits
The Discover it® Secured Credit Card offers more perks than just its rewards rates. You’ll get free access to your FICO credit score at any time, helping you stay on top of your score and track its progress. Because it’s a secured credit card, you’ll have to put down a $200 minimum security deposit in order to open up this card. However, Discover offers automatic account reviews to determine when you’ll be eligible for an unsecured card. Plus, being a secured card means that you can apply — regardless of whether you’re a student.
You’ll also receive account protections, including the ability to freeze your account if you misplace your card or think it may have been stolen. Plus, your first late payment fee is waived (up to $41 after that).
Redemption options
- Electronic deposit
- Statement credit
- Gift cards
- Pay with cash back at select merchants, like Amazon.com and PayPal
- Charitable donation to select charities
Recommended credit score
Getting approved for the Discover it® Secured Credit Card is likely. It’s accessible for people who have limited or no credit history, or even a bad credit score (between 300 and 579).
Why should you get the Discover it Student Chrome?
The Discover it Student Chrome allows students to earn cash back while managing their finances alongside their studies. It’s introductory 0 percent APR offer on purchases also gives students the opportunity to avoid paying interest on school purchases, such as dorm room essentials or textbooks. Here are some additional benefits to getting this card:
Additional benefits
In addition to its rewards rate, welcome bonus and low ongoing APR, the Discover it Student Chrome offers some additional benefits. With this card, you’ll have many of the same perks as the Discover it® Secured Credit Card, such as free FICO credit score access and having your first late fee waived (up to $41 after).
Redemption options
- Electronic deposit
- Statement credit
- Gift cards
- Pay with cash back at select merchants, like Amazon.com and PayPal
- Charitable donation to select charities
Recommended credit score
The Discover it Student Chrome approves applicants with limited or no credit history, but you must be a student to qualify.
The bottom line
Opening a student credit card can be advantageous for those who are currently enrolled in an undergraduate or graduate program. You’ll be able to set yourself up for post-grad life by building your credit history — and, in the case of these Discover cards, earn cash back to help you save while on a tight budget.
But the Discover it® Secured Credit Card requires cardholders to put down a security deposit of $200 minimum, while the Student Chrome does not. Even though you’ll get back the security deposit eventually, it might not be worth the wait if you can just apply for the Student Chrome card instead. With that said, the Discover it Secured card is available to anyone who may want to build their credit — regardless of whether you’re a student.
If neither card seems right for you, consider checking out our top picks for the best student cards and best secured cards on the market.
