The Discover it Secured Credit Card helps you build or rebuild credit while earning cash back rewards. No annual fee and a path to upgrading make this one of the best secured cards available.
Quick Overview
- Annual Fee: $0
- Security Deposit: $200 minimum (becomes your credit limit)
- APR: 28.24% Variable
- Rewards Rate: 2% at gas stations and restaurants (up to $1,000/quarter), 1% everything else
- Best For: Building or rebuilding credit with rewards
Why We Recommend It
Unlike most secured cards that charge fees and offer no rewards, Discover it Secured gives you cash back on purchases while helping establish credit history. Your security deposit is refundable, and Discover automatically reviews your account for an upgrade to an unsecured card after 7 months of responsible use. It’s the rare secured card that doesn’t feel like a punishment.
How It Works
Secured cards require a refundable security deposit:
- Deposit $200-$2,500 to set your credit limit
- Use the card like any credit card
- Make on-time payments to build credit
- After 7+ months, Discover reviews for upgrade to unsecured card
- When you upgrade or close account, deposit is fully refunded
Rewards & Benefits
Earns you cash back while building credit:
- 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter)
- 1% cash back on all other purchases
- Cashback Match: Discover matches all cash back earned at end of first year
Additional benefits:
- $0 annual fee
- Free FICO credit score tracking
- Automatic account reviews for upgrade to unsecured card
- Freeze it feature for security
- US-based customer service
Fees & Rates
- Annual fee: $0
- Security deposit: $200 minimum (refundable)
- Purchase APR: 28.24% Variable
- Late payment fee: Up to $41
- Foreign transaction fee: None
Who Should Get This Card
Discover it Secured is ideal for:
- People with no credit history (students, recent immigrants)
- Those rebuilding credit after financial setbacks
- Anyone denied for unsecured cards
- Credit-conscious consumers who want rewards while building credit
This card is NOT ideal for:
- People with good credit who qualify for unsecured cards
- Those who can’t afford the $200+ deposit
- Anyone needing wide international acceptance
How to Build Credit With This Card
Follow these steps for best results:
- Keep utilization below 30% (if limit is $200, don’t charge more than $60)
- Pay on time, every time (set up autopay)
- Pay in full each month to avoid interest
- Use regularly but modestly
- After 7 months, you may be upgraded to unsecured card
The Bottom Line
Discover it Secured is the best secured credit card for building credit without sacrificing rewards. The $0 annual fee, cash back earnings, and automatic upgrade reviews make this the smart choice for anyone establishing or rebuilding credit. Unlike predatory secured cards that charge high fees for poor service, Discover treats you like a valued customer from day one.
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This card is offered by Discover. CleverCreditCards.com may receive compensation if you apply and are approved.