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.
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.
- Refundable deposit
- Earn cash back
- No annual fee
- Payment verification times vary
- Deposit doesn’t earn interest
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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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Terrible, inconsistent, unknowledgeable customer service for disputes. Unable to provide information & clearly reading from a script. Drawn out process, taking more than 8 months - abundant documentation to support my case. Clearly case managers don’t actually read all documentation. Perhaps, they don’t understand the English language.
I loved Discover credit card, but from now on, I will close my account. Because they are so helpless. They don’t help me with my dispute at all. Just keep saying the store is not responsible for that. I placed 3 orders from a Dillard’s store in KS. I gave them my credit card information. My card was charged by the store. They just ship 2 of them to me. They don’t even have tracking information for my order. That’s why I wanna dispute this payment. It has been several months. I have talked to discover several times. I repeat the details of the case every time and I have them all the chatting information and any evidence I have which is very sufficient. Because in the chatting record, they could tell I have 3 orders from them. But they only provided two tracking number. This is very easy to tell who is responsible for this missing order. They just don’t help. Just keep saying they are not responsible.
The store only provided 2 tracking number to Discover. They don’t even ask the store to provide further information. They just want to close this case. The last customer representative told me this order was in-store order. I asked him if this is a in-store order why they ship the other two orders to me. In my opinion, they don’t even talked to Dillard’s once. They don’t care my proof. They just stand with the store, not Discover’s customer. I am so sad. I have been using this card about 2 years. This was my first credit card. I would learn from this. Never use a bank which is not responsible. If you wanna use Discover credit card, please look at my review before applying it. Thanks.
Customer service is horrible, Don’t waste your time applying for this card. Worst credit limits available out there, 813 credit score and was told 2700 credit limit. That’s not worth the inquiry for God Sake. Smh.
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