Firstcard offers college students an enticing opportunity to earn cash back on their everyday spending, but the details can get complicated. The card advertises up to 15% cash back from selected merchants, though the exact amount varies by merchant and some deals are invitation-only or time-limited. Currently, students can earn 5% back on purchases from popular vendors like Chegg, ChatGPT, Grammarly, Adobe, and Canva, which are particularly useful for academic needs.
However, there are restrictions: cash back is capped at $15 per transaction and $75 per day, and only one offer can be redeemed per merchant each day. Details of the offers can be accessed via the Firstcard app.
Redeeming these rewards is straightforward; the earned cash is credited to your Firstcard account, which you can then spend or use to pay your bill. Based on average student spending data, a student could potentially earn around $518.25 annually in cash back by taking advantage of the 5% offers on educational subscriptions.
Additionally, if you have a Firstcard deposit account, you could earn interest, adding more value. With an average monthly deposit of $1,515 and a 1.25% APY, you might earn around $19 in interest annually.
Read the full article here.