Reviews

Discover it® Secured credit card full review: should you get it?

Need to build credit? So, get to know one of the best options on the market. With the Discover it® Secured credit card, you improve your credit score while receiving 2% cash back. Read this article and learn about this option!

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Discover it® Secured credit card: because you deserve to build your credit while earning 2% cashback!

Discover it® Secured credit card
Learn all about the Discover it® Secured credit card. Source: Discover

In fact, Discover it® is a family of cards with perks that have made them very famous and coveted. A member of this group, the Discover it® Secured credit card is the option for anyone who needs to build credit.

Discover it® Secured credit card

Discover it® Secured card: check out how to apply!

Learn how to apply for a Discover it® Secured credit card. A credit building card that offers an excellent rewards program: 2% cash back and double all your rewards earned in the first year!

Thus, you are faced with an option with advantages that are common only for products designed for good credit scores. So take a look at this full review and find out if this card is really for you.

Credit ScorePoor (300-629)
Annual Fee$0
Regular APR24.49% (variable)
Welcome bonusBalance transfer APR 10.99% for 6 months after first transfer (for transfers made before October 10, 2022)
Rewards2% cashback on gasoline and restaurants up to $1,000 per quarter; 1% unlimited on other purchases; double the amount of rewards earned in the first year (Cashback Match)

Discover it® Secured card: learn more about this financial product

In fact, Discover it® Secured is a secure card option for anyone who is new to credit or needs to (re)build it. For this reason, your credit score is not a criterion assessed during the application.

In addition to the basic features of a credit card (reporting to the main credit agencies), this product offers rewards. We’re talking a cashback program that pays 2% on all your gas station purchases or restaurant expenses up to $1,000.

In addition, there is an unlimited 1% payout on all other purchases. However, that is not all! Discover it® cards offer the Cashback Match program that doubles your earnings from the first year of use.

This means that if you earned $500 cashback in the first year, you will automatically receive $1,000 in your account. Without a doubt, this promotion is incredible and it goes without saying that there is nothing like it on the other cards.

Also, we can’t help but mention that this is a product with a $0 annuity.

Discover it® Secured credit card features

Woman holding credit card and using smartphone at home, business
Learn more about the card’s pros and cons! Source: Adobe Stock

Time to decide if Discover it® Secured card is right for you. Therefore, take a look at the main advantages and disadvantages of this product:

What are the benefits? 

  • 2% cashback on purchases at gas stations and restaurants, 1% on other categories;
  • After 7 months of use, find out if you are eligible for a superior Discover it® card;
  • No tax on foreign transfers;
  • There are no fees charged the first time you delay your payment.

What are the drawbacks?

  • Minimum deposit required (from $200 to $2,500);
  • Relatively high APR compared to other secured cards;
  • You only get your deposit back if you have made the last 6 balance payments on time and are in good standing on all cards you currently use (Discover it® or not);
  • The reward program has a 2% earning cap, which reduces earning potential.

What credit score do you need to get the Discover it® Secured credit card?

In fact, the Discover it® Secured card does not require any minimum score. However, we recommend it for people with poor scores because it is a secured card.

Therefore, it is worth applying for this product if you have a score between 300 and 629. For higher scores, consider applying for other Discover it® family cards.

How does the Discover it® Secured credit card application process work?

Does the Discover it® Secured card have what you need? So find out how to count on these advantages in your financial life. Click on the link below and read a full article about the application process for this card.

Discover it® Secured credit card

Discover it® Secured card: check out how to apply!

Learn how to apply for a Discover it® Secured credit card. A credit building card that offers an excellent rewards program: 2% cash back and double all your rewards earned in the first year!

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