About Discover it Secured Credit Card
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Discover It Secured cardholders have access to benefits that most secured credit cards don’t offer, like Social Security monitoring through Discover Identity Alerts and free monthly FICO credit score updates. Plus, Discover It Secured cards earn 1–2% cash rewards on purchases. Refundable security deposits range from $200–$2,500, and there’s no annual fee or minimum credit score required for approval.
Overall Satisfaction Rating
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- Refundable deposit
- Earn cash back
- No annual fee
- Payment verification times vary
- Deposit doesn’t earn interest
Discover It Secured offers several benefits without an annual fee. Deposits don’t earn interest, but cardholders earn rewards on their purchases and get automatic credit reviews after 8 months.
Discover It Secured credit card review
Discover It Secured is one of the few secured credit cards that earn rewards. A minimum deposit of $200 is needed to be approved for a Discover It Secured card, but cardholders can deposit up to $2,500. Discover It Secured credit card activity is reported to all three major credit bureaus, and after eight months Discover will begin automatically reviewing your secured account to see if you’re eligible to graduate to an unsecured credit card.
Discover It Secured credit card benefits
Discover It Secured credit cards come with more benefits than most secured credit cards. Cardholders enjoy flexible payment options, free overnight card replacement and zero fraud liability protection.
- Cashback rewards: Cardholders get 2% cash back at gas stations and restaurants on the first $1,000 in combined purchases each quarter. All other purchases earn automatic and unlimited 1% cash back. Plus, Discover will match the cash back you’ve earned at the end of the first year. Cash back can be redeemed at any time for statement credits, through direct deposits or for gift cards at popular merchants and retailers.
- Free credit updates: Discover It Secured cardholders can access their FICO credit scores (updated monthly) for free. Plus, Discover reports credit activity to all three major credit bureaus, so you can track how your credit score improves over time.
- Automatic credit review: Discover automatically reviews Discover It Secured accounts after eight months of to see if the cardholder can “graduate” to an unsecured Discover card. Issuer credit reviews consider you Discover It Secured activity as well as your credit management and utilization across other loans and lines of credit.
Discover It Secured credit card rates and fees
Many secured credit card issuers charge a yearly or monthly fee for cardholder benefits, but Discover It Secure doesn’t require an annual fee or charge foreign transaction fees. With the Discover It card, late payments will not affect your APR and Discover will waive your first late payment fee. Subsequent late payments and returned payments will cost up to $39 each. Another avoidable charge is the 5% ($10 minimum) cash advance fee to withdraw money from an ATM.
|Cash advance fee||5% ($10 min.)|
|Foreign transaction fee||0%|
|Late payment fee||Up to $39 after first late payment|
|Returned payment fee||Up to $39|
How to apply for a Discover It Secured credit card
Discover It Secured credit cards are easy to apply for, but Remember, even with the initial security deposit, approvals are not guaranteed. Some applicants are declined based on income or debt factors, like a pending bankruptcy. Be aware that filing a Discover It Secured application will generate an inquiry on your credit report, which could negatively impact your score.
- Submit an application: You can fill out a Discover It Secured credit card application online. Applicants must provide their Social Security number, address, bank account and routing numbers. Discover It Secured credit card requirements state approved applicants must be at least 18 years old and have a U.S. bank account. Your income and creditworthiness will determine your maximum Discover It Secured credit limit. Those who have not established credit before can do so with their tax returns.
- Make your deposit: Part of the online application process is paying the minimum security deposit. Whatever amount you put down for your security deposit will be equal to your credit limit.
- Select your card design: Approved applicants can select from multiple Discover It Secured card designs (the card does not have the word “secured” on it). After your account is open for about a month, you can apply for a Discover Secured credit line increase.
- Receive your Discover It card: After you’re approved, Discover will send your secured card in the mail within 10 days.
Discover It Secured credit card FAQ
- Can Discover It Secured credit card graduate?
- Yes. After eight months, Discover will begin periodically reviewing your credit activity to determine if your credit profile has improved enough for you are ready to graduate to an unsecured credit card.
- How can I apply to increases my Discover It Secured credit line?
- To apply to increase your credit line, call Discover It Secured customer service after your account is open for at least 31 days. You will need to have your account information ready before you call.
- Can I get my Discover It Secured deposit back?
- There are two ways to get your Discover It Secured deposit back: If you close your account after paying your full balance or if Discover determines from your credit activity that you can qualify for an unsecured credit card.
- Do Discover It Secured deposits earn interest?
- No. Like most secured credit card accounts, Discover It Secured does not earn interest on the security deposit.
Is Discover It Secured credit card worth it?
If you’re serious about improving your credit profile through responsible use of a secured credit card, the Discover It secured card is a great option. Unlike other secured cards, this card lets you earn rewards plus it may be easier for you to graduate to an unsecured credit card after your credit profile improves.
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During the month of August of this year placed several calls wanting to speak to a manager after finding out that Discover credit card lifted a stop-payment to a merchant who I initiated a dispute against and each time their customer service dept. just simply clicked off on my calls time after time. I work in a commercial cargo boat and it’s very difficult for me to have communications with the external world which made me miss the period of time I had to submit proper documentation to support my dispute but when finally got back to land discovered that Discover credit card sided with merchant just beecause merchant provided a signed contract which had nothing to do with my cry for help against merchant whose name is U-haul moving and storage co. and my complaint was trying to get credit for all the months U-haul kept me locked out out of my own storage space since January till present supposedly for non-payments.
Therefore my dispute was put in place because obviously I’m signed up for auto-payments and month after month, Discover credit card kept making these payments, so when I got back of course went furious and kept asking to Discover credit card to stop making these payments and reinstate my dispute against U-haul.
Let me tell you how inhumane these people are: “after gathering all my evidence putting together their own statements month after month (with payments being deducted from my account to U-haul), with pictures of U-haul’s locks being put on top of my Lock to avoid entrance to my storage unit, with records and pictures of my access card being rejected to enter their premises, each time pleading and pleading for them to stop allowing U-haul from taking payments because of course my balance kept increasing month after month and Discover credit card just simply told me that dispute was over with and the matter was settled.
This merchant’s benefit and my evidence was not valid even though U-haul’s argument for keeping me locked out of my storage is non-payment and Discover credit card is the entity making these payments to them month after month; can anybody explain to me if this makes any sense? I’m calling this simply discriminatory behavior from Discover credit card towards me as simple as that…. It’s my desire to cancel this account and refinance debt with a different entity but my score has gone so low beacuse of course when they gave credit back to merchant and kept making payments to them my balance when pass the limit and is been impossible to get approved so simply Discover credit card has ruined my reputation as credit holder with them being 200% wrong on their part. Shame on this corporation and please stay away from doing business with this rip-off company.
They said they returned my security deposit 3 times. It never arrived. Then last week I called again. They said the 3rd or 4th check was already sent out. That was at least 10 days ago. No check. I called again for 4th or 5th time and now they want to put it directly into my account which will take 10 days. Obviously they don’t care about their customers or in my case ex customers. I’m canceling them because they can’t be trusted. DO NOT TRUST DISCOVER CARD!
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I can never log in. Discover always says my information is wrong and it takes 20 minutes and a PHD to be able to recover the data that SHOULD be there. And when I ask for help I get hung up on, or if I try to message, the Discover individual doesn't bother to answer. I tried to CLOSE my Discover card through messaging. Individual on the other end, just ignored my requests. Get another card. The garbage this company puts a member through is unfriendly and humiliating.
I’ve had Discover for a while. I was always on time with my payments until Covid. I didn’t have work. They didn’t care. I got behind but I still made payments as I should. I owed them the money. I finally got work. I paid off the credit card and they shut it off. I called to complain. They said keep making payments on time and the card will be turned back on. I said I can’t make payments because I paid it off. I can’t use it so how do I make payments. She said not my problem. So I waited a couple months for them to turn it back on. They never did. So I called today and closed the account t. I’ll never be back with them. They don’t deserve my money and they don’t deserve yours.
I have filed 2 Disputes after buying collectible items, spending money to have them authenticated and having them both fail as fakes. Discover card tells me as long as the fakes were delivered to me there is nothing they will do. Horrible for a company that says they have our backs. They support sellers who sell fake items.
I was enjoying the benefits of getting cash back, it wasn't much but it was a reward? Then they decided to refuse to pay for a website! I switched to my bank card for the moment, until another card I applied for arrive? This card earned me about $300.00 in one month!!! I am glad Discover refused to pay, I made a lot more cash back with another card!!! Thank you Discover for making me choose a better business deal!!!
I thought it was a legit company and that they would have their stuff together. Oh I was wrong. Opened an account with them and I couldn't use it to make a simple purchase. Decided to go with a different company. I was bounced around from department to department and no one could tell me why it didn't work. They just kept telling me, "You're good to go." I finally got so frustrated at the amount of hours I spent on the phone with their customer service and I asked to just close the account. Idk what's wrong with this company. Lack of training or is this their way of saying, "We don't want your business?" I am disappointed because I was excited about the cash-back offers and the chance to build a credit history.
On June 14, 2022, I set up a final payment arrangement with Discover Card. I made the payments on time via U.S. Postal Money Order. I sent my payments via Certificate First Class receipt. (Always send Discover Card their final payments via Certified, Registered, Receipt or with a tracking number.) BEWARE OF DISCOVER CARD'S FRAUDULENT PRACTICES. RECORD ALL PHONE CALLS WITH DISCOVER CARD!
After receiving my final payment which posted on 7/4/22, (apparently their payment center was open) I contacted them on 7/5/22 to learn the good news. I was promised a Close Out letter. As of July 25, 2022, their Customer Service staff and Executive Office staff at 1-302-328-3300 have not sent me a CLOSE-OUT letter. Instead, I received another bill and a $1.01 check for my overpayment. FILE YOUR COMPLAINT online to: Consumer Financial Protection Bureau before taking them to your local court. They helped me resolve another dispute I had with them previously.
I had a credit score of 831, paid off mortgage and vehicle and I have NO debt & stupidly applied for a Discover card! Got approved & int rate was 24%. Now my score decreased by 29 points! Wtf? This is ridiculous!
I entered a single number on my bank account incorrectly and am charged 29$ and they refuse to reverse it or issue a credit. What type of customer service is this? Spent an hour chasing down 29$ and am now motivated to write reviews to warn you. A lender or creditor should always help a customer who made an honest mistake, especially if it's the first instance.
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