What credit bureau does Discover it Secured use?
3
UpvotesReply
Sally Kagan
The credit bureau that Discover uses for their secured card applications depends on your state of residence. But Equifax is used in most cases.
Discover it® Secured Credit Card
Discover it® Secured Credit Card
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Sponsored CardRates & Fees
APRRewards2,895Reviews103Q&AContact
APRRewardsWalletHub ReviewQ&ACustomer Reviews
Accepted Credit Scores
Accepted Credit Scores
Limited History, Bad Credit
Minimum Security Deposit
$200
Fees
One-Time Fees$0
Annual Fee$0
Monthly Fee$0
APR on Purchases
27.24% Variable
Rewards
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
WalletHub Review
by John Kiernan
February 3rd, 2023
Discover it Secured Credit Card Pros & Cons
No annual or monthly fees & No fees for account opening
Up to 2% cash back
First-year rewards doubled
Relatively low minimum deposit
High regular APR
Discover it Secured Credit Card's Additional Info
| cash advance fee | Either $10 or 5% of the amount of each cash advance, whichever is greater |
| cash advance APR | 29.24% Variable |
| foreign transaction fee | 0% |
| smart chip | Yes, chip-and-signature |
| max late fee | $41 |
| max overlimit fee | See Terms |
| max penalty APR | None |
No credit score required to apply.
No Annual Fee, earn cash back, and build your credit history.
Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
Click "Apply Now" to see terms and conditions.
Discover it Secured Credit Card FAQ
Can't find what you are looking for? Submit your question about Discover it® Secured Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.
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Can I get the Discover it Secured after bankrupcy?
3
UpvotesReply
Carmen Burleigh
There is no set timeframe that Discover publicly discloses. In order to determine whether you qualify for an account, Discover will review the information that you provide on the application and your credit report, and will not focus only on the bankruptcy. It is important to note that the Discover...
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How much is the Discover it Secured balance transfer fee?
3
UpvotesReply
Carmen Burleigh
You cannot transfer a balance to Discover it Secured or to most credit cards for bad credit for that matter. You can transfer the balance you have on the Discover it Secured to another card, but you'll have to ask the other card's issuer about the balance transfer fee.
Do I need a checking account for the Discover it Secured card?
3
UpvotesReply
Sandra Hardy
The Discover it secured credit card application will require your bank account and routing number in order for you to submit the refundable security deposit.
Once you have been approved and put down your deposit, the Discover it secured credit card functions much like an unsecured one.
How long after getting approved for the Discover it Secured do I have to fund my security deposit?
3
UpvotesReply
John Dodson
You have two weeks after approval to place your Discover it Secured deposit.
Can I get approved for the Discover it Secured Credit Card if I don't have a permanent address?
3
UpvotesReply
Sandra Hardy
You will need a U.S. address and U.S. bank account. Other than that, you need to be at least 18 years of age, have a Social Security number and provide all the required information in the online application. Be sure to have your bank routing number and account number handy...
Can I pay the Discover Secured credit card deposit in increments?
3
UpvotesReply
Eric McFadden
No, unfortunately they don't allow you to fund your deposit in increments.
Is the Discover it Secured suitable for a business without credit?
3
UpvotesReply
Wilbur Treagle
The Discover it Secured Credit Card is a personal credit card, so Discover will not report it to business credit bureaus.
However, you can still use it for your business. Just keep in mind, the application will take your personal report and score into account, not your business'.
What's the max credit score needed to be approved for the Discover it Secured?
3
UpvotesReply
George Feulter
There is no maximum credit score requirement for the Discover Secured card. Generally, issuers will not deny you because your financial situation is too good. While there may be some shady companies looking only for profitable candidates (like World Financial), Discover's not one of them.
What's the usual Discover it Secured approval time?
3
UpvotesReply
Scott Meister
The Discover it Secured approval time the same as for any card. If your file is all clear as rain, it'll be instantly. If they need to check more details, it'll take a couple of days while they verify your information. If you don't get a response right away, they've...
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Compare The Discover it Secured Credit Card
Purchase Intro APRNot Offered
Purchase Intro APRNot Offered
Purchase Intro APRNot Offered
Transfer Intro APR10.99% for 6 months|Transfer Fee: 3% intro balance, up to 5% fee on future balance transfers (see terms)*
Transfer Intro APRNot Offered
Transfer Intro APRNot Offered
Regular APR27.24% Variable
Regular APR29.74% (V)
Regular APR29.74% (V)
Rewards Rate1 - 2% Cash Back
Rewards RateNone
Rewards RateNone
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Discover it Secured Credit Card Reviews
Share your insights and review the Discover it® Secured Credit Card
3.7
2,895 reviews
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1 Star Rating
Verified CustomerI was not expecting a hard credit inquiry since it is a secured credit card. I was applying to help my credit but the hard credit inquiry nicked my credit instead of boosting it. Not what I expected. The offer seemed too good to be true and apparently was.
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That's how it works. You apply for a credit card, it will pull a hard inquiry on your credit report.
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It happened to my, but now after I get the card I don’t see it anymore
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5 Star Rating
Verified CustomerExcellent card to help rebuild credit. I did a $2500 secured card. It's been 8 months. I've made each payment on time. Started with a Transunion score of 586 and its now 693. Also just received an email that my full security deposit is being returned within 5-7 days.
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5 Star Rating
Had the card for just under 8 months, got an email last night congratulating me on the refund of my deposit. I’ve always kept my balances under 15% and paid on time. Very simple process. Thank you Discover for helping me.
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1 Star Rating
Verified CustomerDiscover It Secured Card sucks! I’ve had it for about 18 months now. Never missed a payment. Called several times about how and when my credit limit is increased, and customer service always says the same...it’s an automatic review process as long as you keep your card under 30% and make payments on time...blah blah blah! I’ve been doing that. I’ve been at a zero balance, with usage on the card for about 8 months now. Still....nothing. No security deposit back and no increase on my limit, no graduation to unsecured. Don’t waste your time time if you’re trying to work on your credit. Go with CAPITAL ONE. Meanwhile, Discover is making all this interest on your security deposit.
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1 Star Rating
It's so ironic that after almost every 1 star review there is a 5 star review. That is totally bogus. Credit increasing over 100 points? This is a ridiculous claim. Not to mention all the other claims that seem "too good to be true" and you know what they say about that! They (the reps from Discover It) need to stop their nonsense by inflating these reviews! In this day and age, people aren't as gullible as they think we are. In reality their rating, in my opinion, is MAYBE .75 out of 5. Not worth the risk! BUYER BEWARE!!!!!
Comment
You sound like a sorehead. Whats wrong they didn't approve you or increase your limit like you want. I don't work for Discover and I don't usually review anything unless I received either great/poor service. Discover has been a good credit card for me I never have had any problems with them and now all I need is an American Express and then I will always have one of each major credit card.
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5 Star Rating
I love my Discover it card for the most part. I started off with a low limit of $300 and everything was great. After my first year I decided to increase my limit a few months before going on a family vacation so I called customer service and had them increase it to $1k. So easy! One issue I’ve had is having to wait 10 business days after making large payments to get the available
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Why is this almost word for word the same as Rkasmerski04 review that was posted on Feb 14 2020? Lol
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2 Star Rating
First off the card is easy to get and yes you choose your amount so what ever you feel is good on your budget. Then you choose not them, as for the credit I've had it only 3 weeks, no change to my credit so will see how it reflects. I have 2 other cards 1 being a secured and when I got my 1st secured card my credit shot up the same day when approved like 45 points, not discover. So in looking at all the reviews I know there's been so many lies, no one's credit will shoot up as you see on these reviews, there's a bunch of lies let's keep it real people, my credit is fair and building but no need for me to lie about it so if you see a review stating it jumped up 75 to 150 is ridiculous real talk. Don't be fooled by paid reviews
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My self credit card secure jump up within two weeks on average 25 points but that was 3 months of paying for the self installment loan, as for getting the self secured installment loan once post to my 3 credit reports jump up a average 30 points, after a whole year base on other credit cards and making payment always on time or current after one year I went from 495 to as much as 625, the problems is I always getting these now $300 to $750 unsecured credit card offers after activation 14 of them and always staying current with all my payments I average on the 3 credit reports 618, 605, 604 not bad I just need to keep it under 30% which is not easy to do when you have over $6,000.00 of unsecured credit within 12 months. now my balance is average $1,800 across 2/3 of the 14 credit card. Believe me after 8th month and 12th month if you make all your payment consistency even over 30% they will give you credit card offers, the blessing is over the time it helps keep your over all score under 30%. I hope this help.
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1 Star Rating
The worst secured card I have had. Been with them for almost 3 years and have not received a response on getting my secured deposit back and no answer. Also if you file a dispute they tend to side with the merchant. Don't get it Capital One is better as well as most credit unions and local banks
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1 Star Rating
This is the worst business practice that I have seen in 15 years. So…. Discover it card approved my application and took my money all in about 5 minutes. Then I received an email stating that they needed to review my IRS taxes for the past few years. Until this review was performed I could use my card but I would have to return the money if I did not pass the review. At that time I told the representative to cancel the card because I didn’t want the IRS all in my affairs. They transferred me to another representative that stated they would NOT be asking for-- or looking at-- my financial information and that they were only doing an address verification. The next email I received stated that I did not pass the tax review. I spoke to another rep that said sorry for the mixed communication but we do review the taxes for financial information. However, I can’t tell you what criteria was used. You are welcome to apply again at anytime but this case could not be escalated. So I asked when do I get my $500 back? She said 2-3 months. WHAT!!!!!! This is a sham. Discover should not be taking money until one is 100% approved for the card. Then they should not be holding money for months. This should be illegal as it is unethical and a highway robbery.
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5 Star Rating
Discover secured helps to rebuild credit
Without having to spend large amounts of money all at once. You also have a much greater chance of getting approval with that particular card. The rates are low and there are no hidden fees
Without having to spend large amounts of money all at once. You also have a much greater chance of getting approval with that particular card. The rates are low and there are no hidden fees
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Expert Thoughts on Discover it Secured Credit Card
To help people learn more about the Discover it Secured Credit Card, WalletHub posed the following questions to a panel of experts. You can see who they are and what advice they had to share below.
- Why do you think it’s uncommon for credit cards for people with bad credit to offer good rewards?
- What should people look for in a credit card if building credit is their main objective?
- What do you think is the biggest misconception that people have about secured credit cards?
- Does it ever make sense to carry a balance from month to month on a secured credit card like Discover it Secured Credit Card?
Josiah R. Baker
Ph.D., Nimocks Professor of International Business, Professor of Economics & Finance, Reeves School of Business & Economics, Methodist University
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Ph.D., Nimocks Professor of International Business, Professor of Economics & Finance, Reeves School of Business & Economics, Methodist University
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Bradley Stevenson
Associate Professor of Finance, Bellarmine University
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Associate Professor of Finance, Bellarmine University
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Pablo Guerron
Professor, Boston College - Robert J. Morrissey College of Arts and Sciences
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Professor, Boston College - Robert J. Morrissey College of Arts and Sciences
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Clifford Rossi
Professor-of-the-Practice, Finance Department, Robert H. Smith School of Business, University of Maryland
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Professor-of-the-Practice, Finance Department, Robert H. Smith School of Business, University of Maryland
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Vicki L. Baker
MBA, MS, PhD, Professor, Economics & Management, Director, Albion College, Community Collaborative (AC3), Co-Founder, Lead Mentor Develop
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MBA, MS, PhD, Professor, Economics & Management, Director, Albion College, Community Collaborative (AC3), Co-Founder, Lead Mentor Develop
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Offer last updated: Feb 3rd, 2023 at 11:11 ET