Discover it Secured Credit Card review

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Advertiser Disclosure

Interest Rate: Purchases
25.24%
Balance Transfer
25.24% (10.99% for the first 6 months)
Rewards
1 - 2% cashback
Signup Bonus
-


8.8/10
Informr score
The Discover it Secured Credit Card currently has an Informr score of 8.8 out of 10. This score is based on our evaluation of 23 sources including reviews from users and the web's most trusted critics.

Am I eligible?


Discover it Secured Credit Card is typically available to those with poor credit scores (650 or greater).
To get this card, you must also:
Yes Be a permanent or temporary resident of USA
Yes Provide a minimum security deposit of $200.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


LendEDU

If you need a secured credit card, you should absolutely consider the Discover it Secured card. This card won’t charge you a fee and unlike most secured cards, you can actually earn rewards for spending while you build up a responsible credit history.

- Christy Rakoczy, LendEDU
CreditCards.com

The Discover it Secured card is one of your best bets for building credit – it doesn’t charge an annual fee, plus you can make a profit in the first year thanks to the card’s cash back program.

- Robin Ratcliff, CreditCards.com
Cardcruncher

If you need a secured credit card, you can’t beat rewards, low fees, and a clear path to an unsecured account. If, however, you’re a college student or can’t afford a security deposit, check out some of the other cards we covered for a better experience.

- Ben Luthi, Cardcruncher
The Wirecutter

retty much the ideal secured card if you’re new to credit. After eight months of your being a customer, Discover may upgrade you to an unsecured line of credit and return your security deposit if it sees responsible credit behavior across all your accounts (not just your Discover account), such as c...

- Sally French, The Wirecutter
Bankrate

If you have a bank account but limited or poor credit history, the Discover it Secured Card is a terrific choice to help build your credit and earn cash-back rewards, too. We also like that you can quickly graduate to an unsecured Discover card with just eight months of good payment behavior.

- Robin Saks Frankel, Bankrate

Details


Interest Rates
Regular APR Interest Rate 25.24%

This APR will vary with the market based on the Prime Rate.

Balance Transfer Interest Rate 25.24% (10.99% for the first 6 months)

This APR will vary with the market based on the Prime Rate.

Cash Advance Interest Rate 27.24%

This APR will vary with the market based on the Prime Rate.

Rates & Fees
Annual Fee $0.00
Balance Transfer Fee 3%
Cash Advance Fee 5%

Minimum of $10

Foreign Transaction Fee $0.00
Over Limit Fee $0.00
Late Payment Fee $37.00
  • Maximum
  • Waived on the first late payment.
Promotions
Sign up bonus No
Rewards
All Purchases 1% cash back
Restaurants 2% cash back (on first $4000 spent)

In combined purchases with gas each quarter ($1000 per quarter)

Gas 2% cash back (on first $4000 spent)

In combined purchases with restaurants each quarter ($1000 per quarter)

Groceries No
Hotels No
Travel No
Pharmacy No
Bills No
Additional Details

Automatically get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year.

Features & Benefits
Additional Card Holders Yes
Travel Accident Insurance No
Car Rental Insurance No
Car Rental Discount No
Extended Warranty No
Purchase Protection No
Zero Liability Yes
No Foreign Transaction Fees Yes
Emergency Assistance No
Concierge Service No
Price Protection No
Fraud Protection Yes
Free Credit Scores Yes
Wireless Payments No
Eligibility
Minimum Security Deposit $200
Minimum Age 18
Minimum Personal Income
Temporary Residents No
More
Additional comments
Terms & Conditions Official Terms & Conditions
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Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.

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Critic Reviews


LendEDU

Great rewards for a secured card

from LendEDU

If you need a secured credit card, you should absolutely consider the Discover it Secured card. This card won’t charge you a fee and unlike most secured cards, you can actually earn rewards for spending while you build up a responsible credit history.

Read full review

If you need a secured credit card, you should absolutely consider the Discover it Secured card. This card won’t charge you a fee and unlike most secured cards, you can actually earn rewards for spending while you build up a responsible credit history.

Read full review

Less

CreditCards.com

Smaller than average deposit

from CreditCards.com

The Discover it Secured card is one of your best bets for building credit – it doesn’t charge an annual fee, plus you can make a profit in the first year thanks to the card’s cash back program.

Read full review

The Discover it Secured card is one of your best bets for building credit – it doesn’t charge an annual fee, plus you can make a profit in the first year thanks to the card’s cash back program.

Read full review

Less

Cardcruncher

Earn rewards while you build credit

from Cardcruncher

If you need a secured credit card, you can’t beat rewards, low fees, and a clear path to an unsecured account. If, however, you’re a college student or can’t afford a security deposit, check out some of the other cards we covered for a better experience.

Read full review

If you need a secured credit card, you can’t beat rewards, low fees, and a clear path to an unsecured account. If, however, you’re a college student or can’t afford a security deposit, check out some of the other cards we covered for a better experience.

Read full review

Less

The Wirecutter

Better-than-average customer service benefits

from The Wirecutter

retty much the ideal secured card if you’re new to credit. After eight months of your being a customer, Discover may upgrade you to an unsecured line of credit and return your security deposit if it sees responsible credit behavior across all your accounts (not just your Discover account), such as consistent on-time payments.

Read full review

retty much the ideal secured card if you’re new to credit. After eight months of your being a customer, Discover may upgrade you to an unsecured line of credit and return your security deposit if it sees responsible credit behavior across all your accounts (not just your Discover account), such as consistent on-time payments.

Read full review

Less

Bankrate

The best secured credit card

from Bankrate

If you have a bank account but limited or poor credit history, the Discover it Secured Card is a terrific choice to help build your credit and earn cash-back rewards, too. We also like that you can quickly graduate to an unsecured Discover card with just eight months of good payment behavior.

Read full review

If you have a bank account but limited or poor credit history, the Discover it Secured Card is a terrific choice to help build your credit and earn cash-back rewards, too. We also like that you can quickly graduate to an unsecured Discover card with just eight months of good payment behavior.

Read full review

Less

The Ascent

Has perks that even the best credit cards don’t have

from The Ascent

If you don't have a credit history or are rebuilding credit, this card should be on your shortlist. The modest security deposit and premium rewards are uncommon features for competing cards, which makes this offer one of the leading secured cards we cover.

Read full review

If you don't have a credit history or are rebuilding credit, this card should be on your shortlist. The modest security deposit and premium rewards are uncommon features for competing cards, which makes this offer one of the leading secured cards we cover.

Read full review

Less

The Balance

Perfect for someone who is building or rebuilding their credit score

from The Balance

The Discover it Secured Credit Card beats a lot of regular credit cards in terms of pricing and rewards. The only drawback is that it requires a security deposit. If you have trouble getting approved for a credit card, it's a great choice.

Read full review

The Discover it Secured Credit Card beats a lot of regular credit cards in terms of pricing and rewards. The only drawback is that it requires a security deposit. If you have trouble getting approved for a credit card, it's a great choice.

Read full review

Less

Money Crashers

A card that pays you back as you rebuild your credit

from Money Crashers

Ideal for discerning consumers who wish to rebuild their credit and earn real cash back rewards in the process – without an annual fee to cut into their earning power. With no foreign transaction fee and a monthly account review after seven months, it’s also great for frequent travelers and c...More

Ideal for discerning consumers who wish to rebuild their credit and earn real cash back rewards in the process – without an annual fee to cut into their earning power. With no foreign transaction fee and a monthly account review after seven months, it’s also great for frequent travelers and cardholders seeking a clear path to non-secured status.

Read full review

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The Simple Dollar

The best secured credit card on the market

from The Simple Dollar

Not only does this card come without all the hefty fees most secured cards charge, but it offers real cash back rewards!  Although you’ll need to put down a deposit to get started, you will get this deposit back as long as you don’t default and close your account in good standing.

Read full review

Not only does this card come without all the hefty fees most secured cards charge, but it offers real cash back rewards!  Although you’ll need to put down a deposit to get started, you will get this deposit back as long as you don’t default and close your account in good standing.

Read full review

Less

Get.com

Great card to build your credit with no annual fee

from Get.com

If you make your payments in full every month and are looking for a good cash back credit card, but for some reason you have bad credit or haven't built up a credit history, it hardly gets better than this.

Read full review

If you make your payments in full every month and are looking for a good cash back credit card, but for some reason you have bad credit or haven't built up a credit history, it hardly gets better than this.

Read full review

Less

User Reviews


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