Credit Cards (US)

Discover It® Secured Credit Card review: A card that rewards your spending!

If you want to build your credit score, but can't get approved for a traditional credit card, the Discover It® Secured Credit Card may be exactly what you need.

Advertisement

Discover It® Secured Credit Card: Build your credit while earning rewards!

Discover It® Secured Credit Card
A secured credit card is a clever way to build credit! Source: The News Stacker.

Are you looking to build your credit, but having trouble getting approved for a traditional credit card? Read this Discover It® Secured Credit Card review to learn how this card might be the perfect option for you. 

Discover It® Secured Credit Card

How to apply for the Discover It® Secured card?

Learn how to apply for the Discover It® Secured Credit Card. And let this secured credit card help you regain control of your finances!

This card has no annual fee and the potential to earn rewards after making certain purchases.

It is an excellent way to start establishing and building your financial history — all while earning cash back along the way.

  • Credit Score: To be eligible, you’ll need a score of 300-629 
  • Annual Fee: For this card, you won’t have to pay an annual fee.
  • Intro offer: At the end of your first year, Discover will match all the cash back you’ve earned! With no minimum spending or maximum rewards.
  • As a bonus for new cardholders, Discover offer 
  • Rewards: Rank up 2% cash back for your spending on gas stations and restaurants each quarter up to $1,000 in combined purchases. All other purchases earn 1%.
  • APRs: For the first 6 months, there’s a 10.99% intro APR on Balance Transfers. Be aware that after that period, it’s a 26.74% Variable APR.

With its unique cash back rewards program and helpful customer service team at Discover, there’s never been an easier way to get on track regarding your financial well-being.

Read on for more information about what this excellent product offers!

Discover It® Secured Credit Card: What can you expect?

Discover It® Secured Credit Card is a great choice for those looking to reap the rewards while building their credit. With no annual fee, Discover It makes it affordable to access financial services. 

Your security deposit determines your maximum credit limit; you can deposit anything from $200 to $2,500.

Discover’s Intro Offer will automatically match what you earned in cash back at the end of your first year. 

The Discover It Secured Card also offers exclusive rewards, like 2% cash back on gas station and restaurant purchases with a cap of $1,000 each quarter and 1% back on all other purchases. 

There’s an introductory APR on balance transfers for 6 months and then an ongoing APR of 26.74%.

Finally, Discover has waived their foreign transaction fees, so you can use your Discover It Secured Card anywhere without extra costs!

Do the pros outweigh the cons?

Discover It® Secured Credit Card
You’ll have a real credit card to use every day. Source: Canva.

To help you make an informed decision, we’ve listed the advantages and drawbacks of this credit card.

Pros

  • There’s no annual fee
  • Easy eligibility, even with limited/bad credit
  • This card offer rewards
  • There’s a bonus offer for new cardholders

Cons

  • The card requires a minimum deposit to apply
  • There is a high APR

What are the eligibility requirements?

Discover It® Secured Credit Card is an excellent choice for those trying to build or repair their credit.

Although Discover doesn’t require a minimum credit score to become eligible, they recommend a score between 300-629 on the FICO®  scoring system. 

You’ll also need to provide a refundable security deposit of at least $200, so your deposit amount will equal your line of credit. 

Learn how to request the Discover It® Secured Credit Card

If, after reading this Discover It® Secured Credit Card review, you’re interested in building up or starting fresh with credit, applying for it it’s super simple. Check out our link below.

Discover It® Secured Credit Card

How to apply for the Discover It® Secured card?

Learn how to apply for the Discover It® Secured Credit Card. And let this secured credit card help you regain control of your finances!

About the author  /  Vinicius Barbosa

Vinicius Barbosa is a writer of finance-related content on this portal. Graduated in Social Communication, he writes about everything that involves the world of finances, from credit card recommendations to investment tips, for readers who want to make better decisions when it comes time to spend their money or invest wisely.

Trending Topics

content

How does inflation affect your credit card balance?

Learn how the Federal Reserve’s continued rate hikes can impact your credit card balance and why you should start to pay off your debt now.

Keep Reading
content

What is shrinkflation and how can you avoid it?

Do you know what shrinkflation is? Here's everything you need to know about this economic phenomenon and how to protect yourself from it.

Keep Reading
content

Best strategy for organizing your income: 6 methods

If you're looking for the best strategy for organizing your income and your finances, look no further! We've got 6 methods for you.

Keep Reading

You may also like

content

See how to apply for the Chase Sapphire Preferred® Card

See how you can easily apply for a Chase Sapphire Preferred® Card and start earning valuable rewards on all of your purchases.

Keep Reading
content

The greatest YouTuber of all time

There are a lot of youtube channels, but only one can be the greatest Youtuber of all time. We'll look at some Youtubers to see who's TOP 1.

Keep Reading
content

Best AI Chatbot Apps: Our Top Picks for 2023

Looking for the best AI chatbot apps in 2023? Check out our top picks for seamless and personalized customer interactions.

Keep Reading