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Highlights
- No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
- Your Secured Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
- We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
- Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases.
- Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
- New! Free Social Security Number alerts, we’ll monitor thousands of risky websites when you sign up.*
- Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
Card Fees
Late Payment Fees
No late fee on your first late payment*
Foreign Transaction Fee
None
Penalty APR
None
Additional Card Details
$0 Fraud Liability
Yes
Auto Rental Insurance
Yes
Extended Warranty Program
Yes
Roadside Assistance
No
Purchase Protection
Yes
Travel Assistance
No
Flight Accident Insurance
Yes
Lost Luggage Reimbursement
No
-
Concierge Service
No
Expert Reviews
From the CompareCards.com Editorial Team
The Discover it® Secured Card - No Annual Fee is an excellent option for consumers who are trying to build credit for the first time or rebuild their credit. Since secured cards are typically only used by consumers who are considered high risk, they usually come with high fees and no rewards. But that’s not the case with this car - in fact, this new product comes with some incredible features that you won’t find on any other secured credit card!
First off, the Discover it® Secured Card comes with no annual fee, no late fee on your first late payment, and no increase to your APR for paying late.* These features are extremely helpful for consumers who are just getting used to using a credit card for the first time. Cardholders will also have access to their FICO® credit score for free on their monthly statements and through their online banking. This will allow you to track your progress overtime as you build your credit.
Perhaps the coolest feature of this secured card is that it offers cash back rewards will all of your purchases. This is extremely rare among cards for people with low credit scores, and the rewards rate is actually quite generous. Cardholders earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases. When you bundle all of these great perks with the award-winning customer service that accompanies all Discover cards, you have a winning combination for consumers looking to build their credit.
The Bottom Line
This is really a top of the line secured credit card when you consider all of the features and perks. The Discover it® Secured Card - No Annual Fee comes with all the tools you need to start building credit, and you get to earn cash back along the way.
The Good
Earning cash back with a secured credit card is an incredible perk that you’ll be hard-pressed to find anywhere else. Also, having no annual fee, a free FICO® score and no late fee on your first late payment will really help cardholders get used to using a credit card while they build credit.
The Not So Good
Since it’s a Discover card, it might not be accepted at every single retailer you visit.
Editorial Note: This content is not provided by Discover. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by Discover.
Consumer Reviews 0 Reviews
+-3 users submitted a rating without a full review
Sort by:
By: Linda | May 9, 2016
The only secured card I've seen that lets you get cash back. Usually you need muhc better credit than mine to get cash back!
By: Larry | Apr 6, 2016
It is a good card to get u where u want your credit score at.
Related Card Offers
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Reports to Credit Bureaus
Build Credit When Used Responsibly
-
Minimum Deposit
$49, $99, or $200
-
Regular Purchase APR
24.99% (Variable)
Highlights
- Click "APPLY NOW" to apply online
- No annual fee, and all the credit building benefits with responsible card use
- Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
- You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
- Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
- Easily manage your account 24/7 with online access, by phone or using our mobile app
- It's a credit card accepted at millions of locations worldwide
See additional details for Capital One® Secured Mastercard®
-
Build Your Credit
Monthly reporting to the three major credit bureaus
-
Perks and Features
Auto Pay can help you stay on top of your bill
-
Worldwide Acceptance
Use your card anywhere that accepts Mastercard®
Highlights
- No Annual Fee, and unlike a prepaid card, it helps build credit history with monthly notifications to the credit bureaus
- A security deposit is required for this product (minimum $200)
- Pay your bill on time every month to avoid damaging your credit. Citi can help keep you on track with Auto Pay, online Bill Pay and alerts.
- Use the card anywhere Mastercard® is accepted — worldwide
See additional details for Citi® Secured Mastercard®
-
Reports to Credit Bureaus
Build Credit When Used Responsibly
-
Regular APR
9.99% Low Fixed APR
-
No Penalty Rate
Your Rate Won’t Go Up Even if You Are Late
Highlights
- Click "APPLY NOW" to apply online
- Better than Prepaid...Go with a Secured Card! Load One Time - Keep On Using
- Absolutely No Credit Check or Minimum Credit Score Required
- Automatic Reporting to All Three National Credit Bureaus
- 9.99% Low Fixed APR - Your Rate Won’t Go Up Even if You Are Late
- Activate Today with a $200 Minimum Deposit - Maximum $1,000. Increase Your Credit Limit up to $5,000 by Adding Additional Deposits Anytime
See additional details for Applied Bank® Secured Visa® Gold Preferred® Credit Card
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