The Discover student card might seem like a different kind of financial tool, but in reality, it’s just a credit card that uses the Discover network versus Visa, Mastercard or American Express.
Discover has been available as a payment tool since at least the 1980s, but it never quite gained the overall network leverage that the big three players already had. Eventually, even American Express fell behind, and Visa now dominates the field.
That said, payment tools like Discover still attract new subscribers and users with deeper discounts and incentives per transaction or with monthly payment statement credits, depending on the latest marketing campaign.
Examples can be a five percent credit back on certain transaction types or a two percent credit on fuel and food purchases.
The Discover Student Card Payment Date
Like other credit cards, Discover student cards operate on a monthly cycle.
If a user pays the card balance due within the month the charges are incurred, then no additional costs are realized.
However, to the extent the balance is carried over, then it becomes a loan in practice, and Discover charges interest until the outstanding carryover balance is paid in full. So, for users, the best discount and lowest cost of using the card happens when it is paid timely.
Does the Discover Student Card have a Payment Date?
As mentioned earlier, yes, the Discover Student Card comes with a payment date every month. Stay on top of it, and a user will have the best advantage and savings using the card where it is accepted.
Let the owned balance carryover, however, then the credit card interest charges outweigh any savings made on transactions.
When is my Payment Due?
Depending on the when the user’s account is started, the payment date will generally be one month after, typically at the beginning of the calendar month.
However, not everyone is paid the same or on the same date, so it’s possible to request a specific payment date each month from Discover customer support.
Having a set date is a smart idea as the payment will always be due on a predictable date versus a floating one or a day that is too close or before one’s normal paycheck or income source.
What is the Billing Cycle for Discover Card?
Typically, the Discover Student Payment Card runs on a monthly cycle as described earlier. There is some adjustment from one calendar month to the next, especially when it adjusts during February versus longer months that run a total of 31 days.
Remember, if you request the payment date to be set on a specific date of the month, then the variation doesn’t have as much of an impact, and payment planning can be scheduled easily.
This tends to work for the majority of people who need predictability when their cash flow demands occur on a set budget.
How do I Pay my Discover Student Card?
Given the capability of the Internet today, it’s quite possible to pay the charges on a Discover student card account in a number of ways.
There is the old, traditional method of mailing in a personal check for the minimum amount due, a specific amount or the full balance due. Alternatively, one could connect their bank account online to the Discover account through their website and pay electronically, via an ACH connection.
For folks who have neither, however, the old standby of sending in a money order works as well. Money orders can be obtained from the U.S. post office as well as some big chain drug stores.
Final Thoughts
As a last note, the Discover Student Payment Card is only a payment tool. The user is still responsible to pay completely for everything bought using the card.
If it’s neglected or only the minimum payment is made, the cost of carrying over the balance can become extremely expensive over time, multiple times more than what the original charges might have been had they been paid in cash.
Responsible credit card use is easy to forget about when a credit card makes it so simple to buy something. However, learning personal discipline early can avoid a lot of preventable debt later on.