Scott Meister, Member
@scott_meister
Your credit limit for the Discover it® Secured Credit Card will be $200 to $2,500, depending on the amount that you deposit. The Discover it Secured Credit Card's credit limit is tied directly to the deposit amount, as with most other secured cards.
That's why secured cards are easier to get: there's almost no risk to the lender itself, because they have your deposited money as collateral.
Popular Credit Cards from Our Partners
mahinder_lotlikar, Member
@mahinder_lotlikar
Your credit limit for a secured credit card from Discover will be between $200 and $2,500. The amount you put down for a security deposit determines what your credit limit will be, and $200 is the minimum while $2,500 is the maximum.
James Maynard, Member
@maynard_jim
Yes, it would be the same as your deposit.
People also ask
When will the Discover it Secured Credit Card graduate to unsecured?
Your Discover it® Secured Credit Card may graduate to an unsecured account as soon as seven months after you get it, as long as you pay the bills on time and otherwise manage your finances responsibly. But there’s no guarantee it will happen. It all comes down to Discover’s determination of your creditworthiness.
After the seven-month mark, Discover’s credit analysts will review both your account and your overall credit history on a monthly basis to see whether it’s appropriate to refund your...
read full answer by WalletHub, Financial CompanyHow can I get a Discover Secured Card credit increase?
You can get a Discover secured card credit increase by graduating to an unsecured card after consistent on-time payments. But you’re unlikely to graduate to an unsecured card (i.e. get your deposit back) for at least 7 months.
Starting 7 months into your account, Discover will take a basic look at your credit and payment history. If they like what they see, Discover may choose to graduate you to an unsecured card. If that...
read full answer by Debora Lee, MemberHow do you get approved for a high limit credit card?
To get approved for a high limit credit card, you will need good to excellent credit and proof that you can afford a high spending limit. More specifically, your credit limit will be determined by several factors, including your income, assets, and existing debt obligations. Picking the right credit card goes a long way, too.
4 Steps on How to Get Approved for a High Limit Credit Card
1. Improve your credit score:
High limit...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertisers compensate WalletHub when you click on a link, or your application is approved, or your account is opened. Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.