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.... read full answer
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.show less