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Discover Student Card Income Requirement: Here’s What To Know

Discover Student Card Income Requirement: Here’s What To Know

Technically, there is no income required for a Discover Student Card, although you will have to show proof that you’re enrolled in school. Reported income for this particular card can include grants, scholarships, and financial aid when entered on the application. You can always try a secure card or cosigner if you can’t qualify for the Discover Student Card, but other major credit card issuers offer student cards as well. 

Most credit cards have some sort of income requirement, but there are a select few that waive this part of the credit application.

Providing your income can help a credit card issuer determine what credit limit they should award. A higher income can put you in a more favorable light with credit card companies, especially if you have little to no debt and a high credit score as well. 

At the same time, it’s not always necessary to provide this information to receive a respectable credit limit. This all depends on which credit card issuer you go with, of course. Plus, your creditworthiness is also determined by other factors, including your credit score and current debt. 

Discover Student Card Income Requirement

The Discover Student Card offers flexible income qualifications for approval. The credit card issuer incorporates other aspects of an applicant’s status to determine eligibility. 

Discover Student Cards are specifically designed for students, particularly those with no income. Discover offers flexibility when it comes to approval requirements.

For instance, in addition to traditional income, Discover will recognize financial aid, scholarships, and grants as income on the credit application. 

Both gifts and allowances do not count towards an individual’s income on a Discover Student Card credit application. However, students with the Discover Student Card can take advantage of perks such as cashback rewards. Discover will also report to the major credit bureaus to help students build credit. 

Are There Income Requirements for Discover Student Card

There are no income requirements for the Discover Student Card if you’re currently enrolled in a degree program. You will have to show proof of education to qualify with no income. 

Discover looks at both your income (or lack thereof) as well as your credit score and debts when you submit your credit application. You will have to be over 18 years of age and enrolled in a university to qualify for a Discover Student Card with no income. 

The Discover Student Card is also a viable option for students who are studying abroad. It can help you earn cash back rewards as well as build your credit for higher credit limits on other cards when you do start earning a steady income. 

What is the Income Requirement

Unless you are a college student, the minimum income requirement is $10,000 per year to qualify for a Discover credit card. 

If you are in school, you won’t necessarily need income to qualify. At the same time, a higher income can help you earn a higher credit limit. This can help increase your credit score if you’ve got more credit available. 

What if You Don’t Meet the Discover Student Card Income Requirement

If you don’t meet the income requirements for the Discover Student Card, you can try a few different things. There are many other cards you can try to qualify for, including a secured credit card. You can also get a part-time job to boost your income. 

If possible, you can try to figure out why your application was denied for the Discover Student Card to address the issue if there is one. You can also try to apply for a secured credit card

Secured credit cards require collateral, but they help you build credit and prove yourself to be trustworthy. With a secured credit card, you make a deposit of funds that is then available on the card. Once you’ve gone through this set of funds, you’ll have to load it with more capital to keep using it. 

If you apply for a secured credit card, you may be able to qualify with no income. You can also potentially add a cosigner to your application to boost your chances of being approved. 

Are There Other Cards to Use

Many other credit card issuing companies offer student credit cards. Examples include Bank of America, Petal, and Capital One.

Nearly every major credit card issuer offers a credit card you can apply for with little to no income. The Petal 2 Cash Back, No Fees Visa Credit Card is a great option, especially if you’re having trouble getting approved at a major credit card company. Plus, you’ll still be able to take advantage of your card with rewards. 

The Bank of America Travel Rewards Credit Card for Students and the Capital One Quicksilver Student Cash Rewards Credit Card are both great alternatives as well.

These cards have students in mind, so the perks and features are tailored to options students can use as they complete their studies. 

Final Thoughts

The Discover Student Card doesn’t necessarily require an income, as long as you are a student. You will have to provide proof of education to qualify with no income.

At the same time, if you make as little as $10,000 per year, you can qualify for a Discover Student Card, whether it’s through scholarships and grants or financial aid. Many other credit card companies offer student-specific cards, many of which come with similar features and rewards.