What credit score do you need for a Discover it Secured card?

Question

One of the best credit cards for a 700 credit score is the Wells Fargo Active Cash® Card. This card offers 2% cash rewards on all purchases. Wells Fargo Active Cash also comes with an initial bonus of $200 cash rewards after spending $1,000 in the first 3 months and a $0 annual fee.

What to Know Before Getting a 700 Credit Score Credit Card

In general, you want to focus on cards that require good credit or below, since 700 is considered a good credit. Of course, there are other things that affect the application process, too. Some other key criteria include income and the number of recent inquiries on your report.... read full answer

A good way to figure out whether you’re eligible for a particular credit card with your 700 credit score is to check for pre-approval on the issuer’s website. If you’re pre-approved for a card, you’re not guaranteed approval, but your odds are high – usually around 80%. You can do a pre-approval check for most of the top credit cards for a 700 credit score.

Some of the Best Credit Cards for 700 Credit Score

Rates & FeesFlat Cash Back Rate: Wells Fargo Active Cash® CardWells Fargo Active Cash® CardLearn MoreLearn Moreon issuer's website
Travel Rewards: Capital One Venture Rewards Credit CardCapital One Venture Rewards Credit CardLearn MoreLearn More
Rates & FeesIntro APR: Wells Fargo Reflect® CardWells Fargo Reflect® CardLearn MoreLearn Moreon issuer's website
Rates & FeesTerms Apply Everyday Purchases: Blue Cash Preferred® Card from American ExpressBlue Cash Preferred® Card from American ExpressLearn MoreLearn Moreon issuer's website
Hotel Rewards: IHG® Rewards Premier Credit CardIHG® Rewards Premier Credit CardLearn MoreLearn Moreon issuer's website
Airline Rewards: Southwest Rapid Rewards® Priority Credit CardSouthwest Rapid Rewards® Priority Credit CardLearn MoreLearn Moreon issuer's website

As you may have noticed, several credit cards for 700 credit scores don’t have annual fees. So, you can pick up some great perks without having to shell out money for the privilege of having a card.

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Answer 1 · 2022-04-15 20:25:07

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Diane Langstrom, Member

@diane_langstrom • 04/15/22 This answer was first published on 11/23/17 and it was last updated on 04/15/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Discover Secured Credit Card’s requirements for approval are straightforward and fairly easy to meet, even with bad credit. Discover it Secured merely requires a bank account, some income to balance out any debt and a lack of bankruptcy in your history.

As a result, the Discover Secured Card’s approval requirements are much easier to meet. Plus, it’s a great choice for either rebuilding bad credit or building credit from scratch.

Still, approval isn’t guaranteed. So it’s worth taking a closer look at the factors that could lead to rejection before you apply.

Here are the Discover Secured Credit Card’s requirements:

A bank account. You use this to pay the security deposit. And you’ll need to be able to deposit at least $200 to be approved.
Some form of income. This isn’t that huge of a factor, as Discover has your deposit as collateral if you don’t pay them back. But Discover does say you can be denied if your income is too small.
As little debt as possible. You can definitely have debt and still get approved for this card, but having an overwhelming amount might disqualify you.
No pending bankruptcy. You can get approved with a completed bankruptcy on your credit report, but not if it’s still pending.

So the Discover Secured Card’s approval requirements aren’t all that high, but there’s still always a possibility of rejection. That’s why I recommend checking your credit score and report before you apply, to get a better grasp of your situation. And don’t forget that if you do get rejected, you can ask for reconsideration by calling Discover at 1-800-347-2683.

Answer 2 · 2018-05-11 21:12:17

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Carol High, Member

@carol_high885 • 05/11/18 This answer was first published on 03/30/18 and it was last updated on 05/11/18.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yeah, you need to provide your banking information to add the security deposit. Still, they'll only take the money if you get approved. If, for some reason, you get denied (highly unlikely), you won't lose a penny. It's one of those cases where you hope they take your money!

Answer 3 · 2018-10-08 12:49:40

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Jesse Mann, Member

@jessem_162 • 10/08/18 This answer was first published on 09/29/18 and it was last updated on 10/08/18.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes I would suggest using the prequalify on their site because it seems to vary. I was just approved my TransUnion fico was 555 but experian was 598. I’m not sure which they looked at.

Answer 4 · 2018-04-24 17:11:52

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Gary Nice, Member

@gary_nice • 04/24/18 This answer was first published on 03/07/18 and it was last updated on 04/24/18.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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You do need a bank account. The approval could be instant, or it could take a few weeks.

What credit score do you need for a Discover it Secured card?

Diane Langstrom, Member

Discover it® Secured Credit Card

Carol High, Member

Jesse Mann, Member

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