In a time when you can customize virtually anything to your liking, it makes sense that you can also have a customized credit card in your wallet. Not only does it say something about who you are when you pull it out to pay for something, but it can also brighten up your day to see something you love every time you open up your wallet.
Discover has over 100 card designs for its cardholders, including monograms, sports, animals, country flags, geographic locations and more. In an effort to promote its student credit card products, the company recently decided to tap students to choose two of the newest designs added to the portfolio.
Out of six options, students chose Frenchie, a French bulldog sporting aviator sunglasses, and Iridescent, a card covered with an abstract design of pastel hues.
"Card designs are one way for cardmembers to define themselves and express their individuality," said Emina Dautovic, senior marketing manager at Discover, in a statement. "We are continually looking for ways to tailor our products toward our customers’ wants and needs, including by providing an array of card designs that speak to their unique styles."
The new customized card designs aren't limited to Discover's student cards, as they are now part of the portfolio that all Discover cardholders can choose from when selecting a new card design.
Cardholders can get a customized card either by calling Discover or logging into their online account and selecting a new design. Opting for a unique design doesn't change one's account number or card terms. Cards arrive within four to six business days after ordering.
Along with the new student-picked designs, Discover has two cards geared toward students: The Discover it Chrome for Students card and the Discover it Student Cash Back card. Both cards are virtually the same, except for how they give cash back. The Chrome card gives two percent back on gas and restaurant purchases, up to $1,000 in combined purchases each quarter. The Cash Back card gives five percent back on a different merchant category each quarter, but in order to get that benefit, you have to register for it every quarter. Both cards also give one percent cash back on all other purchases.
The student cards also have a couple of other unique bonus features. One is an annual $20 statement credit for having good grades. This benefit is for those enrolled in college and whose accounts are in good standing. If you maintain a GPA of 3.0 for an entire school year, you're eligible to receive the benefit, and you can do this for up to five years.
Another benefit of the cards is its Cashback Match. After you've had the card for 12 billing periods, Discover will match all of the cashback you've earned and apply it to your account.
Neither student card has an annual fee. Both have a zero percent APR on purchases for the first six months you have the card. After that, there's a variable APR of 14.74% to 23.74%, depending on your creditworthiness. That can be relatively high--especially on a student budget--so it's wise to keep your credit card spending in check so that you don't amass a pile of debt while you're still in school.
The cards currently have a balance transfer rate offer of 10.99% APR for the first six months after the transfer, and then it bounces up to that same purchase variable APR of 14.74% to 23.74%. Balance transfers also incur a fee that's equivalent to three percent of each transfer.
While these student cards have some great perks and give you a tool to help build your credit, they also have terms that are geared to people with scant credit histories, so it's best to use them wisely to make sure you create a positive credit history instead of getting into a mountain of debt.
