Can I use my Discover Secured credit card instantly after getting approved?
2
UpvotesReply
Ben Chaplan
You can't use your Discover secured credit card right away after getting approved. You'll have to wait for it to get to you, in about two weeks.
Discover it® Secured Credit Card
Discover it® Secured Credit Card
Apply Now
Sponsored CardRates & Fees
APRRewards2,880Reviews100Q&AContact
APRRewardsEditor ReviewQ&ACustomer Reviews
Accepted Credit Scores
Accepted Credit Scores
Limited History, Bad Credit
Minimum Security Deposit
$200
Fees
One-Time Fees$0
Annual Fees$0
Monthly Fee$0
APR on Purchases
23.74% 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.
Editor's Take
by John Kiernan
June 1st, 2022
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 | 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.
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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Questions sort
Will this card work in London, Paris, and Rome?
2
UpvotesReply
Karen Mills
Yep, you should be able to use the card in those locations. Also, with no FTF's, you'll be all set.
How much will my score increase after the first month of using the Discover it Secured Credit Card?
2
UpvotesReply
I have excellent credit scores, ranging from 805 to 830. Would I be required a security deposit?
2
UpvotesReply
Belinda Russ
Yes, this is a secured card so everyone who applies for this card has to put down a security deposit.
Will this card improve your credit score as long as it's paid on time?
2
UpvotesReply
Jeniffer Truman
Yes. All payment history will be reported to the bureaus, so if you pay it on time, your score should go up.
Does this card report as a secured card or a credit card?
2
UpvotesReply
William Praker
A secured card is still a credit card, they both get reported the same way, and both will improve your credit score.
With a FICO of 511 and a credit card that is charged off and in collections, what are the chances of approval? No other collections.
2
UpvotesReply
Gabe Farley
As long as you don't have a pending bankruptcy, you should have good chances to get approved.
Can you deposit $3,000 onto the card as the first deposit?
2
UpvotesReply
Tanks n Banks
Nope, maximum is $2,500.
How can I get the Discover it Secured card with a co-signer?
2
UpvotesReply
Will Beckford
You cannot get the Discover it Secured card with a co-signer.
You can, however, become an authorized user on someone else's account. This way you won't be held responsible for paying the bills, but can build your credit.
My chapter 7 bankruptcy was just discharged about a month ago, would I be eligible for this card?
2
UpvotesReply
Robert Baskins
Yeah, you have a shot at getting approved. Just remember you have to pay that security deposit!
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 APR23.74% Variable
Regular APR23.99% (V)
Regular APR26.99% (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
2,880 reviews
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5 Star Rating
Verified CustomerI got approved with a 562 credit score, took 2 weeks to get the card in the mail with a $200 deposit so i am hoping for the best. I will up my limit to $500 after the first statement comes per their rules. I Will do another review after a month of using it.
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are they requiring you to add an addition $300 to your limit?
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5 Star Rating
I applied for this card in April 2017. I had absolutely no credit score and after applying the approved me with a $200 deposit. I made sure to always pay off my account balance and make sure that any balance that did show was under 10% usage. I always made my payments on time and made more then one payment per month so that my balance was never out of control (one payment per paycheck). Right before I officially made 7 months Discover raised my limit to $500 and returned my initial deposit back! It's been great! My credit score is now looking great and I'm very happy with the progress I've made with discover! I definitely recommend this card to anyone looking to start or repair their credit!
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5 Star Rating
Verified CustomerWell for starters I’m rebuilding my credit and have gone from the 400’s to 605-635. I have a Wells Fargo Secured Credit Card that I have had for almost 2 years and it hasn’t done much for me. My fiancé decided to add me to his Capitol one quicksilver and it has helped me piggyback off his credit. I recently went crazy trying to apply for new credit and got turned down by everyone including Capitol one secured. So I decided to try Discover it....and to my surprise I was approved. I’m suppeerrrr excited as I have read excellent reviews.
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5 Star Rating
Verified CustomerI truly love this card and highly recommend it . I\'m grateful and thankful that The Lord lead me to this card. First of all, I would like to mention that my credit score was a 520 prior to attaining this card. I got approved by no one!! Discover allowed me to put 200$ down as my credit limit. A pretty simple process. I would eat out/pay for gas with this card . I would try to keep my balance under 30% if I went over 30%, I would be sure to pay it off immediately. I\'ve always paid it off before the due date. That would be every two weeks that I got paid. I only had the account for 7 month\'s. Today being April 14,2018, I promise I was so shock and happy to see that I have graduated with a confirmation via email. My credit limit is now 1,800. I can only use 1,697 where my credit score is now a 704 and counting. Thanks to discover and me making earIy payments on my S8 caused my score to spike. I would like to encourage anyone who wants to re-build their credit to get a discover it secured card. You will not regret it!! I just pray that you have at least 1 of the fruit of spirit which is self control. But all in all, go for it and rejoice later. Hope this help because I hardly write reviews. This card is a must have!!!!… read more… read more
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Wow congrats, I can't wait to hit the 700 score also. They approved me and I put down $200 for my starting limit. I'm fixing my credit to buy a house next yr.
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If you dont mind me asking what other steps did you take to take your score to a higher number?
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@louisen_3 did you ever get your house you wanted ? you never updated lol just curious
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5 Star Rating
Love it no complaints as of right now
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5 Star Rating
I applied and was approved for the Secured Discover IT card this past April (2016). It was the first credit card I applied for and my TU score was 524 (had three medical collections on my report along with a current three months old cosigned personal loan for $1000 from my local credit union). I laid down the minimum deposit of $200 and understood that after 12 months of on time payments, my account would be considered for an upgrade to unsecured. After two months, I called Discover customer service and added $100 bucks to increase my deposit/credit line to $300. I also applied and was approved for a Capital One unsecured Platinum card (limit of $300).
Well, two days ago, I made my sixth Discover payment and my account was bumped to UNSECURED along with a $200 credit line increase = $500 unsecured credit line a full six months early! For the past six months I've charged a cheese burger a month on the Discover and let the statement cut with a tiny $4 balance. I would pay that balance the next day - never paying any interest. My credit reports still reflect the medical collections and the current (now nine months old) personal loan, but with the addition of the Discover IT and Capital One, my current Fico is 649 and rising every month. I'm excited to see if I'll see a bump in my score next month due to this upgrade!
Well, two days ago, I made my sixth Discover payment and my account was bumped to UNSECURED along with a $200 credit line increase = $500 unsecured credit line a full six months early! For the past six months I've charged a cheese burger a month on the Discover and let the statement cut with a tiny $4 balance. I would pay that balance the next day - never paying any interest. My credit reports still reflect the medical collections and the current (now nine months old) personal loan, but with the addition of the Discover IT and Capital One, my current Fico is 649 and rising every month. I'm excited to see if I'll see a bump in my score next month due to this upgrade!
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Did they refund the cash you put down for this card after they transition you to UNSECURED Discover IT? Thanks in advance!
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Keep us posted. So happy for you. Good luck. I think I'll use your method of approach.
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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: Jun 1st, 2022 at 07:43 ET