Discover it® Secured Credit Card
Discover it® Secured Credit Card Review
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.
Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.
Discover it® Secured Credit Card
SIGN-UP BONUS
Discover will match all the cash back you’ve earned at the end of your first year.
REWARDS RATE
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
Rewards Rate
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
APRs
10.99% Intro APR for 6 months on balance transfers, then 28.24% Variable APR.
Rates and Fees
No annual fee, no late fee on your first late payment. No penalty APR.*
Annual Fee
$0
Card Brand
Discover
Recommended Credit Score
Limited/PoorHighlights
- No credit score required to apply.
- No Annual Fee, earn cash back, and build your credit history.
- Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
- 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, automatically. Plus earn unlimited 1% cash back on all other purchases.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
Additional Info
None
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
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Expert Review
Editor's Overall Rating
Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.
From the LendingTree editorial team, updated on Apr 01, 2024
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 Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all 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 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.
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.
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.
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