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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I got a secured credit card with Discover to help build my credit. I put $1000 into my account and everything was going good. My credit score went up as I was hoping it would. Had the card about 6 months fully making all payments. Went to Florida on vacation and somehow lost my debit card. I was relieved that I still had my Discover card with me with the full $1000 available balance on it that I put on my card. So I cancel my debit card until I could get a new one when I got back home from vacation. I go out to eat and tried to use my Discover card to pay and it's declined.
I go to the Discover app on my phone to make sure everything's okay. It shows I still have my full $1000 balance available. So I called Discover's customer service only to be told that my account was frozen until they received my last two years of tax returns information. I thought it was a joke, why in the world would a credit card company All of a sudden want my last two years of tax return information. First of all it's none of their business. I wasn't even a customer there's at the time. Second maybe they should have thought about asking that before I got the card or when filling out the application. Not 6 months down the road.
So there wasn't Florida with no money. The rude lady from Discover from customer service said there's nothing she could do until sent my tax information to them. And then it would be about a week until they process it through. Oh and I forgot she said I had two days to get it sent in or they were canceling my card and that's what they did. They left me in Florida with no access to the money I put in on my card. Not only that it took them over a month to send me a check for my $1,000 they had sitting there on my card after they canceled it. Also my credit score went down after they canceled it more than my score was before I applied for this ** company. Discover is an absolute joke. After a little research I found out that they have done this to thousands of people. And even canceling people's cards after they send them their tax returns. So good luck with your new Discover card.
You get approved then need to get forms notarized just to get denied if it isn't accepted in that time frame. Mind you they just so happen to get every form except for 1 and I sent them together and the missing form 7 different times. I think they just like to accept your deposit and keep it for 2 months, deny you, flip it and give it back. Such a waste. Citi and Capital One are easier to get and less of a headache.
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I cannot believe Discover Card is still in business. I had a Discover Card years ago and I got rid of it because it is not accepted at many Point of Sale locations. I decided to give them another chance and I am still having the same problem. I like using one card primarily but I cannot do that with Discover Card.
The app uses the least secure face id to unlock, the card has an 8 day hold when making payments, and the support system never actually works. Seriously, save yourself a headache and get a different card.
I had a Dispute with a company, Because of a Huge purchase I've made with the company (Carid The company Name)...I paid 9,865.41.. paid in Full with My Discover credit card, I had that payment down to a 1,000 in 5 months, I Realize the company I paid all that money to Still have Not shipped me My purchase yet 5 months later, So I call my Discover card & had to Dispute my case about the company never sent me my purchase yet & I was about to pay the Bill off, I let them know what was Going on & Thank God Discover took over. I sent them all my documents & they took over the case, They investigated my case about 4months, They did credit my account with full Refund, But it was on a freeze until the case was resolved, is called a provisional credit which means you can't spend it until the case is over,
I am Very Happy to Say On this Date, Discover investigators Lift my provisional credit to permanent credit. I won my dispute. Discover got all my money back, I am VERY appreciative of what they did. They work for me and they got the job done. I wouldn't recommend this car to anybody because they treat you right. They do the right thing and they take customers first. I am a living witness to this. I appreciate what they done for me. I really really do.. because what this company done to me what they tried to do to me discover investigated it and did not let that happen, I Thank Discover for taking care of my situation in a professional manner. They put me first. I am the customer and that's the way they treated me a very important customer. You don't get that nowhere else.
This is the second card I have opened with Discover for their customer service. After a horrible experience with Citibank waiting months to get a resolution on a fraud alert I opened a new Discover card in minutes...with a human being...on the phone...with whom I actually had a delightful conversation about career paths! The agents are always effective and helpful. It is always easy to get stuff done. Fraud alerts are quickly resolved. And if I ever have an issue I know I can speak with someone almost immediately who knows what they're doing and can take care of the problem.
Customer service is an afterthought because everybody else has it. They'll never call you back. Are chat rooms even worse than talking to a representative. You need to go some place else for a credit card.
What a disappointment. I was scammed by a vendor. Discover Card did not help me. I had picture proof and that didn’t even help. Their policy is they have to have written proof. The scam artists in China did not provide me a written confession. I am closing my account due to this.
I have been a Discover It card holder since 2013. They have great customer service Lingo, a decent cashback program as well as a lower APR in comparison to some of the other cards out there. They were great until I needed them most, and they fall short. I am a small business owner (photography) and I was in need of a new light for a campaign shoot that I was hired for with a 48 hour notice. During Covid, buying a new light was the best option. The light arrived damaged, broken beyond repair, FedEx refused to ship it back, and the merchant wouldn't do what was necessary to get an insurance claim.
I contacted Discover to advise them of the situation and they stated to file a dispute as they were confident this could be resolved. So, in August, I did just that. All photographic images and EXIF data are not sufficient evidence. So I sent telephone records, email correspondence etc to verify that I did not violate the Merchant's TOS. I contacted the dispute manager and spent almost 2 hours while they combed through my information and found that yes, I indeed contacted properly within guidelines. I was informed to not worry, this will be sent back through and all will be well.
Fast forward to six weeks later and it was denied for the same thing, and now there is zero proof as to whether the product was damaged by me or the shipper. Keep in mind, all photographic evidence is null and void so there is nothing the consumer can do at this point. They have since informed me they exhausted all avenues and are so sorry that this is the resolution. The $2,992 charge is mine and they apologize for any inconvenience of not being able to pause or hold the interest charges while I speak with an attorney and try to resolve this.
Long story short, there are much better cards out there. Discover has zero consumer protection, zero purchase protection and aren't really willing to work with you. Any small business or consumer looking to make a big purchase, don't. Choose a card like Chase. Granted, this is the perfect storm that has almost a near zero probability of happening, or I would have used my Chase card to protect myself, alas it did happen.
I have the Discover It card and it has been wonderful. I had to leave my career, a career that I enjoyed very much due to a neurological diagnosis that ended in me being declared disabled. Discover was the only of the credit card companies that I had that waived the late fees for me and even paid one month and issued me a $100 check, that cover the remaining months for the year. They were completely understanding and worked with me. This is a great card and I am glad that I have it.
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