Our take

The Discover it® Secured Credit Card is one of the most appealing offering on the secured credit card market. Its rewards program may give you the taste of a traditional unsecured credit card. The possibility to upgrade together with zero annual fee allows you to keep this card as long as you need.

Details
  • It's a real credit card, not a prepaid or debit card. You can build a credit history with the three major credit bureaus.
  • 1% cash back on every purchase. 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter.
  • Your secured card requires a refundable security deposit. You choose your deposit amount (minimum $200) when you apply.
  • Discover will review your credit card account monthly starting at seven months, to see if it's possible to return your security.
  • Discover will automatically match all the cash back you've earned at the end of your first year on your credit card— only for new cardmembers.
  • No annual fee.
  • 24.99% standard variable purchase APR.
  • Get your FICO ® Credit Score for free on monthly statements, on Discover mobile app or when you log in to your online account.
  • Paying late won't raise your APR.
Pros
Leading rewards rate for secured cards
2% cash back
No annual fee
Free credit score
Paying late won't raise your APR
Cons
Need credit check
No signup bonus
Recomended Credit score
Poor
300
Fair
630
Good
690
Excellent
720
850
Rewards
Gas
2% cashback
limited to $1,000 spending per quarter
Dining
2% cashback
limited to $1,000 spending per quarter
Other
1% cashback
Balance transfer offer
Balance transfer intro apr
10.99%
Balance transfer intro apr duration
6 months
Balance transfer regular apr
24.99%
variable
Balance transfer fee
3%
Rates and fees
Purchase regular apr
24.99%
variable
Cash advance apr
26.99%
variable
Regular annual fee
$0
Cash advance fee
5%
min $10
Return payment fee
up to $37
Secured card details

Posting to credit bureau

Free credit score

Secured deposit
$200 - $2,500
Credit Limit
Equal to deposit
Upgrade to unsecured
After 7 months
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