The Discover Student Clear Card, issued through Morgan Stanley, gives students the chance to establish a credit report and earn rewards at the same time. The card offers great introductory rates making it easy to get started with your card as soon as you receive it, and there is no annual fee which means you won’t be paying just to have the card in your wallet.

Discover Student Clear credit card gives 1% cash back on every purchase made (over $3,000 in a year), although you can increase cash back to 5% at certain retails (like bookstores, restaurants, gas stations and home improvement stores). When you’re ready to redeem your rewards, you can select from over 60 merchants that allow you to double your cash back- so for example, if you had $40 in cash back rewards owed to you, you could get a gift certificate worth $80! If you prefer to receive money back, you can choose to have a check mailed to you, or have the money applied to your Discover Student Clear Card balance to reduce the amount that you owe. Discover Student Clear gives cardholders choices when it comes to their rewards redemption.

I give it five stars rating.