Limited History, Bad Credit
$200
23.74% Variable
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.
by John Kiernan
June 1st, 2022
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
| cash advance fee | Either $10 or 5% of the amount of each cash advance, whichever is greater |
| cash advance APR | 25.74% 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 with responsible use.
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.
NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
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Click "Apply Now" to see terms and conditions.
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.
It depends on what else you have on your report, but a single inquiry can't hurt more than 10-20 points.
You would have to wait for it to arrive in the mail.
Yes, when you graduate to an unsecured card, your security deposit will be refunded, provided that you pay your balance in full. Best of luck!
Certainly. You just have to register your online account.
Share your insights and review the Discover it® Secured Credit Card
This card was started to help my credit. I did a $300 deposit and used it for about 8 months. Paid the total balance off each month and was automatically changed from secured to unsecured, refunded my deposit and increased my credit line to $1800. My credit has improved about 40 points and i have almost $30 in cash back rewards. I cant see a reason as to why you wouldnt use this card! I read through reviews of all the secured cards before choosing Discover and I am very glad I did.
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.
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Offer last updated: Jun 1st, 2022 at 07:43 ET
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