Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Credit Cards How Does Discover’s Good Grades Program Work? Updated Jun 13, 2023   |   3-min read Written by Jeff Gitlen, CEPF® Written by Jeff Gitlen, CEPF® Expertise: Student loans, personal loans, home loans, insurance, credit cards Jeff Gitlen, CEPF®, is the director of content operations at LendEDU. He graduated from the Alfred Lerner College of Business and Economics at the University of Delaware. Learn more about Jeff Gitlen, CEPF® Some offers mentioned on this page may be outdated. To confirm offers and credit card details, check the issuer’s website. Obviously, getting good grades is its own reward, but an extra $20 doesn’t hurt. That’s the pot of gold at the end of Discover’s Good Grades Reward rainbow. Simply put, earn a B-average or better (GPA 3.0 or an average grade of 85) and earn a $20 cash back bonus per academic year (September to August) for up to five years if you meet the eligibility requirements. How to Qualify There are a few hoops to jump through to earn the Good Grades Reward: You must apply for and receive a Discover it or Discover it chrome card student cardYou must be a new cardmember as of July 23, 2015Your card application must state you are currently college-enrolledYou are indeed enrolled in a college or graduate school for the school yearYou meet the 3.0 (or equivalent) grade point average in any term within the school yearYou are up to date on your Discover credit card paymentsYour Discover account is open when you apply for your cash backYou have collected less than five prior Good Grades Rewards Applying for Your Reward You have to submit information to Discover to receive your reward, but it’s a trivial exercise. Simply go to your account page on the Discover website and enter your GPA (or equivalent) for any term within the academic year — Discover may require documentation of your GPA. You’ll receive your cash back reward within two billing periods. Note that you have to apply separately if you are also eligible for Discover Student Loan Good Grades Rewards. The Discover Student Cards Discover offers two credit cards for students that qualify for the rewards program. They are: Discover it Card for Students This card earns 5 percent cash back, up to a quarterly maximum, in rotating quarterly categories such as restaurants, Amazon.com, gas stations, and more. You have to activate your cash back every quarter. In addition, you earn 1 percent cash back on all other purchases, without limit. Discover it Chrome Card for Students This card earns 2 percent cash back, up to quarterly purchases of $1,000 at restaurants and gas stations. Plus you get unlimited 1 percent cash back on all other purchases. Round Up These cards are attractive to students because they have no annual fee, require only an average credit score, charge 0 percent on purchases and 10.99 percent on balance transfers during the first six months, and waive the fee on the first late payment. The standard variable APRs on these cards currently range from 13.99 to 22.99 percent. In addition, you get a dollar-for-dollar match on the first-year’s cash back. Benefits and Costs for Consumers For consumers, there is very little downside to this program. Discover also benefits by being the first credit card used by young people, who Discover hopes will stay loyal later in life. Benefits Puts up to an extra $100 into your pocketEncourages opening a credit card account at an early age, which helps you establish and build your credit score and credit history in preparation for post-school lifeProvides an object lesson on how to manage your financesEncourages academic achievementGives you free access to your FICO score Costs If you don’t pay off your balance each month, you’ll be charged interest that will drain your resources.You could really screw up your credit if you use the card irresponsiblyDiscover card acceptance by merchants is limited Summary This is a good offer and a good card, and it sets it apart from the pack. The biggest question is whether your local merchants accept the Discover card. But even if you don’t use the card much, the $20 annual benefit is certainly welcome. Use it responsibly and it’s hard to go wrong.