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Discover It Secured Review

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Discover It Secured
Our Take:

The Discover it Secured card may be your best bet for a well-rounded credit card that offers rewards and opportunities for people with bad credit or no credit. From cashback rewards, to no annual fee and the opportunity to graduate to an unsecured card, we can overlook the high interest which is typical of cards of this variety. Skip to our full review

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  • Highlights:
    • Build a credit history with the three major credit bureaus
    • Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases each quarter
    • Unlimited, automatic 1% cash back on all other purchases
    • All of your cashback rewards are matched at the end of your first year
    • This is a real credit card not a prepaid or debit card, it does require a refundable security deposit
  • Regular APR
    24.99% Variable
  • Annual Fee
    No Annual Fee
    • 300
    • 689
    Fair and Bad Credit
  • Annual Fee
    No Annual Fee
Show additional fees
CardGuru’s Ratings
Cashback Reward
4
Purchase APR
3.5
Balance Transfer Fee
4.5
Annual Fee
5
Overall
4.5

Our Review

The Discover It Secured card is a credit card for people with bad credit looking to grow their credit profile and build their score. The minimum FICO score for acceptance is 300. For that reason, it can also be useful for high risk applicants who aren’t interested in the allure of big rewards, like travel and cash back.

Scratch that! Unlike many competitors in the secured card marketplace, Discover It does offer the opportunity to reap cashback rewards. Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases each quarter and 1% cash back on all other purchases. This perk makes it a standout card for people with bad credit or looking to build their credit for the first time. Here’s a sneak peek at what we love about this card:

At the time of publishing this article, the Discover It Secured card has no annual fee. That’s not likely to change anytime soon, as offering a suite of entirely “no annual fee” cards is a marketing point for Discover. With that said, since this is a secured card, it does require a deposit.

For those who think a deposit sounds like a bummer, here’s why it’s actually a good thing: First, unlike an annual fee, positive credit behaviors on this card will lead to getting your deposit back if your account remains in good standing. Secondly, by putting a deposit down as your credit limit, you generally have access to better APR offers. As far as Discover It Secured is concerned it’s still going to be an above-average APR, up to 24.99%, which is also not uncommon for those with bad credit. Finally, once you have established a relationship with Discover, several months in, they will review your account and you may be eligible to upgrade to an unsecured card. This is a wonderful gateway for those entering the world of credit purchases for the first time.

Because Discover allows you to view your FICO credit score in the card portal (you seriously can’t miss it), savvy credit card users with Fair and Bad Credit can directly tie their credit behavior to the impact it has on their score! That makes it easier than ever to manage your credit while building positive credit behaviors. We at CardGuru love Discover It cards, but don’t just take it from us. Take it from the hundreds of positive reviews this card gets online. If you are in the market for a credit building card, this is a good choice for a wide range of consumers, and the opportunity to earn cashback rewards doesn’t hurt either.

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Editorial Note:

This content is not provided by Discover. Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Discover.