Discover It Secured Credit Card Review

Our Rating
4.7/5.0

Welcome Bonus
None

Annual Fee
$0

0% on Purchases
None

Rewards Rate
1% - 2%

0% on Balance Transfers
None

Snapshot

• No annual fee
• 1% cash back on everyday purchases
• 2% cash back on gas stations and dining up to $1,000 every quarter
• Refundable deposit
• For your first year Cashback Match will give you 2x on any cash you accumulate
• Helps build credit with all major credit bureaus

Editorial Review

The Discover It® Secured Credit Card is a top rated secured credit card. It offers 1% cash back on all purchases, and 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter. This card requires a minimum security deposit of $200, but does come with a $0 annual fee.

In addition, after 8 months, Discover automatically reviews your account each month to see if you qualify to convert to a standard, unsecured card and get your deposit back.

Pros & Cons

Pros

• No annual fee
• 1% cash back on everyday purchases
• 2% cash back on gas stations and dining up to $1,000 every quarter
• Helps build credit with all major credit bureaus
• No foreign transaction fees

Cons

• Minimum $200 security deposit
• Regular APR is high

Rewards

• 1% cash back on everyday purchases
• 2% cash back on gas stations and dining up to $1,000 every quarter
• For your first year Cashback Match will give you 2x on any cash you accumulate
• Rewards can be redeemed any time with no minimum amount
• Rewards never expire

Features and Benefits

• Upon acceptance, you can receive a free copy of your FICO credit score
• Freeze It: Prevents account actions such as balance transfers, purchases, or cash advances
• Discover Identity Alerts: Receive notifications if any of your personal information, such as a social security number, is found on the dark web
• Free Overnight Card Replacement: If you lose your card or it’s stolen, you will be sent a brand new card via overnight shipping
• $0 Fraud Liability: Any unauthorized purchases on your account you won’t be held responsible for
• 24/7 Customer Service: Discover provides its card holders round the clock help if the need occurs

Approval Odds

Credit card companies consider a number of factors when evaluating an application. These factors may include income, debt, existing credit cards and, of course, the applicant's credit score.

While credit card issuers do not publish the criteria for approval, we collect publicly available data on credit scores for those who have been either approved or denied for a credit card. Keep in mind that we cannot verify this information and an issuer's credit score requirements can change over time.

Approvals

EX 612 EQ 660 TU 629 (03-19-2021 myFICO)

EX 614 EQ 580 TU 625 (01-13-2021 myFICO)

EX 632 (03-11-2021 myFICO)

EX 682 EQ 668 TU 673 (03-10-2021 myFICO)

Denials

TU 547 EQ 547 EX 532 (05-23-2018 myFICO)

TU 703 EQ 698 (08-17-2018 myFICO)

TU 528 EX 507 EQ 482 (05-03-2016 myFICO)

EX 591 (04-12-2018 myFICO)