Discover credit score requirements actually vary widely because there are a number of different Discover credit cards. The Discover it® Miles card requires good or excellent credit, for example, while even people with bad credit can get the Discover it® Secured Credit Card.
Here is the complete list of Discover credit score requirements:
The Discover it Student Cash Back, Discover it Student chrome and Discover it Secured Credit Card are among the best offers available to people with limited and bad credit, respectively. In fact, Discover it® Secured Credit Card is one of the only secured cards offering rewards.
The best credit card for a 650 credit score is the Capital One Platinum Credit Card because it has a $0 annual fee and can help improve your credit score. Capital One also reviews accounts for automatic credit limit increases as soon as six months after account opening.
A 650 credit score is near the low end of the fair credit score range. People with fair credit typically have a tough time getting approved for cards with low fees and rewards that can be used anywhere, rather than at certain retailers. But if you don’t mind paying a small annual fee, Capital One offers the Capital One QuicksilverOne Cash Rewards Credit Card. It gives 1.5% cash back on all purchases in exchange for a $39 annual fee. It can be used anywhere Mastercard is accepted.… read full answer
It's worth noting that most student credit cards are open to students with fair credit and tend to offer better rates and rewards than their general-consumer counterparts. So if you're a student with a 650 credit score, you might want to take advantage of it by checking out some of the best student credit cards on the market.
Store cards also tend to have lenient approval requirements and accept applicants with fair credit. But their use will be restricted to the businesses they're affiliated with.
The bottom line is that a credit score of 650 will put you in the running for some of the best credit cards for fair credit. And as long as you keep your account in good standing by paying your bills on time and in full, you can improve your credit score and set yourself up for access to some of the best credit card deals in the future.
The best Discover card for bad credit is definitely the Discover it® Secured Credit Card. In fact, it’s really the only Discover card that you can count on getting despite a bad credit score. Here’s how it works: When you apply, you place a security deposit of at least $200, which will become your credit line if you’re approved. This refundable deposit acts as collateral for Discover, reducing their risk.… read full answer
The Discover it® Secured Credit Card is the best Discover card for bad credit because:
You won’t pay an annual fee. This card is free to have. There’s a 0% foreign transaction fee. But do keep in mind that you’ll have to temporarily part with at least $200 to make the security deposit.
There are rewards. It’s unusual for a secured card to have rewards, but the Discover it® Secured Credit Card does. You get 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined), and 1% back on all other purchases.
Credit-building potential is equal to unsecured. There’s no difference in the way secured cards and unsecured cards report information to the credit bureaus.
You can increase your credit limit. Any time after getting your first monthly statement, you can call Discover at (800) 347-3085 to add to your security deposit. Your credit line will increase by the amount of this additional deposit.
Graduation to unsecured is possible. After you’ve had Discover it® Secured Credit Card for at least 7 months, Discover will review your credit every so often. They might decide to refund your security deposit and transition you to an unsecured card.
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