Discover has announced that they will give students who sign up for a new Discover student credit card a Good Grades $20 Cashback Bonus each school year if your grade point average is 3.0 or higher.
This Good Grades incentive is available for new student card members who apply after July 23, 2015.
You will be rewarded with a $20 Cashback Bonus if your grade point average is 3.0 (or equivalent) or higher each year that you are enrolled in school.
This $20 bonus is available for the first 5 years from account opening, so you could earn a $100 bonus in total if you attend school for 5 years and maintain a 3.0 or higher grade point average the entire time.
The Good Grades $20 Cashback Bonus will be in addition to the current rewards structures for the 2 student credit cards Discover has available:
Discover it chrome for Students – Automatic 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases quarterly.
Discover it for Students – 5% cash back in categories that change each quarter for up to the quarterly maximum in combined purchases.
Both cards earn 1% cash back on all other purchases.
Plus, with the current Discover Double All Cash Back Promotion, all of the cash back that you earn in your first year will be doubled.
Review this Press Release from Discover for more details about this program.
Besides this Discover Student Credit Card Good Grades program, you may also participate in the Discover Student Loan Good Grades Program, as qualified students are eligible for both bonuses, but you must apply for and redeem them separately.