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Frequent Contributor
shyboy
Posts: 378
Registered: ‎08-01-2007
0

Student discover card product change question

Last week i was approve for the student discover. Im still waiting for the card in the mail.

 

My question is, (not that i want to or anything) but is discover going to do a product change when i'm no longer a student anymore? or will they just leave it as is?

  

-------------------------------------------------------------------------------------------------Getting back in the credit game after major setbacks
Valued Member
Cryostasis
Posts: 50
Registered: ‎08-08-2009
0

Re: Student discover card product change question

Most places don't really check or seem to care if you're a student in the future as long as you keep using your card responsibly.
_________________________________________
EQ FICO: 742 - 01.01.2010
EX FICO: 742 - 10.18.2009
TU FICO: 750 - 01.01.2010
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Student discover card product change question


Cryostasis wrote:
Most places don't really check or seem to care if you're a student in the future as long as you keep using your card responsibly.

 

That may be true, but many student cards have restricted growth unless/until converted to regular products. Student credit products are not the equivalent of regular products.

 

OP - Why don't you call Discover and ask. They are nice. Just remember to say "No" if they try to sell you something during the call!

Regular Contributor
y0rascal
Posts: 144
Registered: ‎09-25-2007
0

Re: Student discover card product change question

the discover more student card is the same as the discover more card. same benefits. only thing is the payments. call them and check but you might  not have to  make any payments  until you graduate... this  i am not sure  of as my brother in law just also got the card. but  the student card is exactly the same as the regular card.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Student discover card product change question


y0rascal wrote:
the discover more student card is the same as the discover more card. same benefits. only thing is the payments. call them and check but you might  not have to  make any payments  until you graduate... this  i am not sure  of as my brother in law just also got the card. but  the student card is exactly the same as the regular card.

 

Taking a quick look at this page will reveal that the offers on the cards are not the same:

 

http://www.discovercard.com/credit-cards/?hcmpgn=0901_hpk_cc_all_txt

Regular Contributor
y0rascal
Posts: 144
Registered: ‎09-25-2007
0

Re: Student discover card product change question

i was speaking of the rewards, only difference is the intro apr  and the student does not have balance transfer offers. but the rewards and benefits are exactly the same, hence the "Discover more student card" and where does it say student on the credit card itself?
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Student discover card product change question


y0rascal wrote:
i was speaking of the rewards, only difference is the intro apr  and the student does not have balance transfer offers. but the rewards and benefits are exactly the same, hence the "Discover more student card" and where does it say student on the credit card itself?

You're on the wrong track. It does not matter that it does not say "Student" on the card or that the rewards are the same. These are obviously app'ed for and issued as different products. The higher APR and the absence of a BT promo are large indicators of that. Student products are inherently different and intended to serve a different risk group than a standard offering. Consequently they are easier to obtain - presuming you are a student. Whether they can end up in the same place is a question for a CSR to answer. Many times student cards need to be converted for that.

Frequent Contributor
shyboy
Posts: 378
Registered: ‎08-01-2007
0

Re: Student discover card product change question

Thank you everyone for the responses. By the way, my card has finally arrived.
-------------------------------------------------------------------------------------------------Getting back in the credit game after major setbacks
Valued Member
Financial_Reinvention
Posts: 44
Registered: ‎04-08-2009
0

Re: Student discover card product change question

I'd like to throw my .02 in, as I've recently become a Discover student card holder and had many of the same questions.  After asking and confirming multiple times, the Discover card operates just like the normal Discover More card with the exception of the aforementioned things (BTs and intro rates).  However, I was assured that based on responsible usage that the card would grow with me even after I cease to be a student.  In fact, they went on to tell me that when I graduate in a few months and hopefully get a job I should call back in the event I've received a substantial increase in income.  At that point, they would do a manuel review (which I assume would entail a hard pull) and likely require proof of income, but would increase trade lines with respect to new financial positions. 

 

Also, in regard to the intro rates, I app'ed over the phone and had to mail in a power bill to verify my home address.  As a result, I never discussed rates / limits while on the phone.  Upon the card's arrival, there was some info in there that stated my credit limit and that I was also given 1.90% fixed interest for 12 months.  Not quite 0%, but I find it acceptable given the nature of student cards and the current economic climate.

 

Cheers!

May 2009: Transunion - 652 Equifax - 680

June 2009: Transunion - 697 Equifax - 715
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Student discover card product change question


Financial_Reinvention wrote:

I'd like to throw my .02 in, as I've recently become a Discover student card holder and had many of the same questions.  After asking and confirming multiple times, the Discover card operates just like the normal Discover More card with the exception of the aforementioned things (BTs and intro rates).  However, I was assured that based on responsible usage that the card would grow with me even after I cease to be a student.  In fact, they went on to tell me that when I graduate in a few months and hopefully get a job I should call back in the event I've received a substantial increase in income.  At that point, they would do a manuel review (which I assume would entail a hard pull) and likely require proof of income, but would increase trade lines with respect to new financial positions. 

 

Also, in regard to the intro rates, I app'ed over the phone and had to mail in a power bill to verify my home address.  As a result, I never discussed rates / limits while on the phone.  Upon the card's arrival, there was some info in there that stated my credit limit and that I was also given 1.90% fixed interest for 12 months.  Not quite 0%, but I find it acceptable given the nature of student cards and the current economic climate.

 

Cheers!


 

Thanks for posting "real" info obtained directly from DFS.  Their CSR staff is pretty good, so it should be accurate. 1.9% for 12 months is pretty good. Discover can be quite good with APR's if you are worthy. I was approved at 11.99%V (post intro), but when I emerged from the intro period they had me at 9.99%V. Lowest current rate for a new account is 11.99%V. They are also good with CLI's. I think Discover is a excellent card product and very nice to do business with.

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