Discover it® Secured Credit Card | CompareCards.com

Discover it® Secured Credit Card

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Discover it® Secured Credit Card

 

Rated 5/5.0 stars by our editorial team

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Rates & Fees
  • Regular Purchase APR 28.24% Variable APR
  • Intro Purchase APR N/A
  • Intro BT APR 10.99% Intro APR for 6 months
  • Annual Fee $0
  • Credit Needed Limited/Poor
  • Card Brand Discover
  • Regular Purchase APR 28.24% Variable APR
  • Intro Purchase APR N/A
  • Intro BT APR 10.99% Intro APR for 6 months
  • Annual Fee $0
  • Credit Needed Limited/Poor
  • Card Brand Discover

Highlights

  • 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.

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

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.

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, 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.

Expert Reviews of the Discover it® Secured Credit Card

  • 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 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.

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Rated 5/5.0 stars by our editorial team

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