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Discover it® Secured Credit Card

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Discover it® Secured Credit Card

 

Rated 5/5 stars by our editorial team

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  • Regular Purchase APR

    27.24% Variable APR

  • Intro Purchase APR

    N/A

  • Intro BT APR

    10.99% Intro APR for 6 months

  • Typical Credit Needed

    549

    600

    660

    720

    850

  • Annual Fee

    $0

  • Card Brand

    Discover

Highlights

  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • Click "Apply Now" to see terms and conditions.
  • See Rates & Fees

Card Fees

  • Foreign Transaction Fee

    None

  • Balance Transfer Fee

    3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*

  • Cash Advance Fee

    see terms

Additional Card Details

  • $0 Fraud Liability

    Yes

  • Auto Rental Insurance

    No

  • Extended Warranty Program

    No

  • Roadside Assistance

    No

  • Purchase Protection

    No

  • Travel Assistance

    No

  • Flight Accident Insurance

    No

  • Lost Luggage Reimbursement

    No

  • Concierge Service

    No


Expert Reviews

  • Regular APR

    4.0

  • Intro APR

    3.0

  • Fees

    5.0

  • Benefits

    5.0

  • Overall Rating

    5.0 /5

From the LendingTree.com Editorial Team

The Discover it® Secured Credit Card 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 card - 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 Credit Card comes with no annual fee, no late fee on your first late payment (up to $41 after that), 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.

Perhaps the coolest feature of this secured card is that it offers cash back rewards with 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 Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically. 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 Credit Card 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.

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.

Expert Reviews of the Discover it® Secured Credit Card

  • Regular APR

    4.0

  • Intro APR

    3.0

  • Fees

    5.0

  • Benefits

    5.0

  • Overall Rating

    5.0 /5


Consumer Reviews 0 Reviews

Your Rating

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+-3 users submitted a rating without a full review

Sort by:

By: | 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: | Apr 6, 2016

It is a good card to get u where u want your credit score at.

By: | Apr 6, 2016

looks like a good start plan for credit applicants


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