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Discover it Secured Credit Card review: Earn cash back while building your credit history

Dori Zinn
·Contributing writer
4 min read

The Discover it? Secured credit card doesn't require a credit score to apply. In fact, it helps build up your credit score by offering cardholders cash-back rewards as an incentive for responsible credit behavior.

  • Annual fee: None

  • Welcome offer: 10.99% intro APR on balance transfers for 6 months from the date of your first transfer (28.24% variable APR after that)

  • Rewards:

    • 2% cash back at gas stations and restaurants up to $1,000 every quarter

    • Unlimited 1% cash back on all other purchases

    • Automatic, unlimited 2x cash back match on all cash back you earn at the end of your first year

  • More details:

    • No credit score required to apply

    • Your refundable deposit equals your credit line (minimum $200 and up to $2,500 depending on eligibility)

    • After 7 months of use, your account will be automatically reviewed every month for unsecured card eligibility (once approved for an unsecured card, you'll receive your deposit back)

There’s a 10.99% intro APR for 6 months from the date of your first transfer. After that, it’s 28.24%.

APR for cash advances is 29.99%. There’s no penalty APR.

There’s no annual fee to apply for or use the Discover It Secured Credit Card.

de0be6d1-798e-42a4-8f76-fa3e68476924Read more: How to apply for a credit card

You can enjoy a 10.99% introductory APR on balance transfers for the first 6 months from when you make your first transfer.

There’s also an unlimited 2x cash back, dollar-for-dollar match on all your earned cash back for the first year.

The Discover It Secured Credit Card offers decent rewards, especially for a secured card:

  • 2% cash back at gas stations and restaurants, up to $1,000 in combined purchases every quarter

  • 1% unlimited cash back on all other purchases

  • 2x unlimited cash back, dollar-for-dollar match of all your earned cash back at the end of the first year

You can earn the 2% cash back rewards when you shop at gas stations and restaurants. You can use your card anywhere Discover is accepted to earn another 1% cash back on everything else. Discover is accepted at 99% of merchants nationwide.

You can redeem your rewards a few different ways, including:

  • Shopping at Amazon.com

  • With PayPal

  • Account credit

  • Physical check mailed to you (if you haven’t used your rewards within 18 months)

  • Free access to your FICO credit score, updated monthly

  • Reports to the major credit bureaus

  • $0 fraud liability guarantee, ensuring that you don’t have to pay for unauthorized purchases

  • Free overnight card replacement

  • Fraudulent activity checks and online privacy protection

  • Free alerts to let you know if your Social Security Number is used on the Dark Web

The Discover It Secured Credit Card is best for people with no credit history who are looking to build and prove responsible creditworthiness.

If you don’t qualify for a traditional credit card and need a secured card to start your credit journey, the Discover It Secured Credit Card is a fantastic option.

For those who qualify for traditional credit cards, you may want to skip the Discover It Secured Credit Card.

Related: How to use credit cards to build your credit score

  • Cash-back rewards

  • No annual fee

  • Free overnight card replacement

  • Reports to the major credit bureaus

  • No hard credit check for pre-approval

  • Refundable deposit once upgraded to an unsecured card

  • High APR

  • Less acceptance compared to Visa and Mastercard

  • Late payment and returned payment fees up to $41 each

You can use the Discover It Secured Credit Card wherever Discover is accepted, which is about 99% of merchants across the U.S.

  • Online: You can make payments on your Discover It Secured Credit Card online or through the mobile app.

  • Phone: To make a payment over the phone, call the number on the back of your card or 1-800-347-2683.

  • By mail: Where you mail your payment depends on your current address. There are four payment addresses throughout the U.S. so make sure your payment is received at the right location by checking your most recent bank statement.

Discover has live agents available 24/7 over the phone by calling 1-800-347-2683. You can also message a U.S.-based agent, which is also available 24/7.

To reach Discover through the mail, you can send general inquiries to

Discover Financial Services

P.O. Box 30943

Salt Lake City, UT 84130-0943

You might find more specialized contact information based on your location and needs by logging into your Discover account.

  • Annual fee
    $35
  • Cash Advance Fee
    $6 or 5% of the amount of each Cash Advance; whichever is greater.
  • Foreign Transaction Fees
    3% of each Transaction in U.S. dollars
  • Late Payment Fee
    Up to $40
  • Card type(s)
    Secured, Credit-builder
  • Ongoing Purchases APR
    25.64% (variable)
  • Ongoing Cash Advance APR
    25.64% (variable)
  • Ongoing Penalty APR
    None
  • Recommended credit score
    No credit check
  • Rewards rate
    • No credit check to apply
    • No credit risk to apply
    • 88% average approval rate
    • $200 minimum security deposit
  • Benefits
    • Earn up to 10% cash back through the OpenSky Rewards program
    • Graduate to an OpenSky Unsecured Gold Card in as little as 6 months

OpenSky Secured Visa review: No credit check required for this secured card

  • Annual fee
    $0
  • Welcome offer
    None
  • Card type(s)
    Secured
  • Purchase APR
    29.99% variable
  • Recommended credit score
    No credit history required
  • Rewards rate
    None
  • Benefits
    • No annual or hidden fees; see if you're approved in seconds
    • Earn back your security deposit as a statement credit when you follow best practices, such as making payments on time
    • Be automatically considered for a higher credit in six months with no additional deposit

Capital One Platinum Secured Credit Card review: Build credit with no annual fee

  • Annual fee
    $0
  • Welcome offer
    None
  • Card type(s)
    Secured, Cash-back
  • Purchase APR
    29.99% variable
  • Introductory APR
    N/A
  • Recommended credit score
    Excellent, Good
  • Rewards rate
    • 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
    • 1.5% unlimited cash back on every purchase, everywhere
  • Benefits
    • No annual or hidden fees; see if you're approved in seconds
    • Earn back your $200 security deposit as a statement credit when you use follow card use best practices, such as making payments on time
    • Be automatically considered for a higher credit in six months with no additional deposit

Related: Secured vs. unsecured credit cards: What's the difference?

This article was edited by Rebecca McCracken

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.