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4.3/5.0 from 36 Offer Ratings
Over the Past 60 Days!
Late Payment Fees No late fee on your first late payment*
Foreign Transaction Fee 0%
Penalty APR None
Rewards Cap 2% is on the first $1,000 in combined purchases each quarter
Rewards Rate 2% cash back at gas stations & restaurants, 1% on everything else
Annual Fee $0
$0 Fraud Liability No
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
This new secured credit card from Discover 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 the Discover it® Secured Credit 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, 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 and gas stations on up to $1,000 in combined purchases each quarter, plus an 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.
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.
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.
You have to keep the card for at least 12 months before you’re able to get your security deposit back. Also, 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 have not been reviewed, approved or otherwise endorsed by Discover.
36 Total Ratings