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Discover it® Secured Credit Card
welcome bonus
N/A
credit brand
Discover it®
rewards rate
2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, 1% cash back on all other purchases – automatically. Discover will match all the cash back you've earned at the end of your first year
intro apr
N/A
regular apr
27.74% variable
foreign transaction fee
0%
credit needed
Fair/Bad/Limited/No Credit
annual fee
$0
rate
4.8

Pros

Helps Build Credit: This secured credit card reports to all three major credit bureaus, helping users establish or rebuild their credit.

Cashback Rewards: Cardholders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and 1% cash back on all other purchases.

No Annual Fee: The Discover it® Secured Credit Card has no annual fee, keeping costs down for cardholders.

Refundable Security Deposit: Users can graduate to an unsecured card after 7 months of responsible use, and their security deposit will be refunded.

Cons

Security Deposit Required: Users must provide a security deposit of at least $200 to open an account.

Limited Rewards Categories: The 2% cashback rate is only applicable to gas stations and restaurants, up to $1,000 in combined purchases each quarter.

No Intro APR: The card does not offer an introductory APR on purchases or balance transfers.

High Regular APR: The ongoing APR for this card is 27.74%, which can be costly if cardholders carry a balance.

Why Choose It

The Discover it® Secured Credit Card is an ideal choice for those looking to build or rebuild their credit while enjoying cashback rewards. With no annual fee and the ability to earn cash back on purchases, this card offers value beyond just credit-building. Although it requires a security deposit, responsible use can lead to graduation to an unsecured card and refund of the deposit after 7 months. While the rewards categories are somewhat limited and the card lacks an intro APR offer, the overall benefits make this card a solid choice for individuals seeking to establish a strong credit foundation while earning rewards on everyday spending.

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compare Cards

cover/name/rate
Welcome bonus
Annual fee
rewards rate
intro apr
regular apr
foreign transaction fee
credit needed
credit brand
Discover it® Secured Credit Card

Discover it® Secured Credit Card

4.8
N/A

N/A

$0

$0

2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, 1% cash back on all other purchases – automatically. Discover will match all the cash back you've earned at the end of your first year

2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, 1% cash back on all other purchases – automatically. Discover will match all the cash back you've earned at the end of your first year

N/A

N/A

27.74% variable

27.74% variable

0%

0%

Fair/Bad/Limited/No Credit

Fair/Bad/Limited/No Credit

Discover it®

Discover it®

PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card

4.7
See website for Details

See website for Details

$0

$0

1.5% cash back on all purchases made with your card, 2% cash back on all purchases for PenFed Honors Advantage Members

1.5% cash back on all purchases made with your card, 2% cash back on all purchases for PenFed Honors Advantage Members

N/A

N/A

17.99% variable

17.99% variable

0%

0%

Good/Excellent

Good/Excellent

Visa®

Visa®

Capital One Platinum Secured Credit Card

Capital One Platinum Secured Credit Card

4.5
N/A

N/A

$0

$0

N/A

N/A

N/A

N/A

29.99% variable

29.99% variable

0%

0%

Bad/Limited

Bad/Limited

Capital One

Capital One

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