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4.4/5.0 from 30 Offer Ratings
Over the Past 60 Days!
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CompareCards was one of three sites that met all the criteria.
Trusted & Secure
-
Empowering over
50,000,000 card holders Since 2005 -
Discover it® Secured
- Regular Purchase APR 24.49% Variable
- Intro Purchase APR N/A
- Intro BT APR 10.99% APR for 6 months
- Annual Fee $0
-
Credit Needed
New/Rebuilding
- Card Brand Discover
Card Details
Highlights
- No Annual Fee, earn cash back, and build your credit with responsible use.
- It's a real credit card. You can build a credit history with the three major credit bureaus. Generally, debit and prepaid cards can't help you build a credit history.
- Establish your credit line by providing a refundable security deposit of at least $200 after being approved. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at 8 months to see if we can transition you to an unsecured line of credit and return your deposit.
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases.
- Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score
- INTRO OFFER: We automatically match all the cash back you've earned at the end of your first year.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- 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)*
Penalty APR None
Ongoing Information
Rewards Rate 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter, automatically. 1% unlimited cash back on all other purchases.
Annual Fee $0
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
From the CompareCards.com Editorial Team
The Discover it® Secured 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 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 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 every quarter, automatically. 1% unlimited 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.
Expert Reviews of the Discover it® Secured
- 4.0
Regular APR
- 3.0
Intro APR
- 5.0
Fees
- 5.0
Benefits
5.0/5 Overall Rating
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 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
Offer Rating
4.4/5.0
30 Total Ratings
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+27 users submitted a rating without a full review
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10 Found this review helpful
By: Sherry Nelson | Dec 21, 2017
I like Discover better than most prepaid cards.
185 Found this review helpful
By: James D Yee | Jun 7, 2016
So far so good. I realize that Discover is considered the "poor man's" prime card and the secured card has even less credit requirements than their unsecured products but that doesn't matter- I'm finally in! I haven't had any remotely negative experiences yet other than having to wait three days or more for any of my transactions to post, which makes it harder to keep my balance down. It's also sad that I will have to wait until my first statement* to see my cashback bonus, but it's going to be nice since most of my spend is in restaurants and gas (aka the bonus categories)... looking forward to bumping my line up too and graduating the card after that year period is up. In brief this is definitely a good card to consider if you are looking for a secured card. However, be prepared to wait for transactions and your cash back to post. This is geared towards the more patient consumer that can wait for their account to update. If you're not so patient having another rewards card with more frequent updates would be ideal. * this is not listed on the website anywhere. I asked my dad about the cashback policy (who has the unsecured rotating) yet this is likely a question easily answered by Discover's reps... have not found the need to call since everything goes smoothly so far!
Related Card Offers
- Reports to Credit Bureaus Build Credit When Used Responsibly
- Minimum Deposit $49, $99, or $200
- Regular Purchase APR 26.99% (Variable)
- Annual Fee $0
- Credit Needed Limited/Bad
- Card Brand Mastercard®
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
- 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®
- Reports to the Credit Bureaus Build your credit score with responsible use
- Easy Online Application Submitting an application will not impact your credit score
- No Credit Required Apply with No Credit, LImited Credit, or Bad Credit
- Annual Fee $39
- Credit Needed Poor/Limited/No Credit
- Card Brand Visa®
Highlights
- Click "APPLY NOW" to apply online
- Good credit or bank account not required
- Your application will not impact your credit score
- Initial security deposit can be as low as $200
- Raise your credit score with responsible card use
- See additional Green Dot Visa® Secured Credit Card details
See additional details for Green Dot Visa® Secured Credit Card
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