Discover it Secured
Applicants building or rebuilding credit who also want to earn cash back.
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Suggested credit
No credit or limited/damaged credit
Annual fee
No annual fee (confirm current terms with Discover)
APR
Variable purchase APR — see current Discover terms
Foreign transactions
No foreign transaction fee
Overview
The Discover it Secured is one of the few secured cards that also functions as a rewards card. Its combination of bureau reporting, cash back earning, no annual fee, and a defined graduation path makes it a strong choice for applicants building or rebuilding credit who want to develop good habits with a card they will actually enjoy using.
Rewards
Earns cash back on eligible categories (historically gas and restaurants) and a base rate on other purchases — a rare rewards program on a secured card. Discover has historically offered a Cashback Match on first-year rewards for new cardholders.
Benefits
- Reports monthly to all three major credit bureaus
- Automatic reviews for graduation to an unsecured card on current terms
- Free FICO Score access
Pros
- · No annual fee
- · Earns cash back — uncommon among secured cards
- · Clear graduation path with deposit refund on qualifying accounts
Cons
- · Requires a refundable security deposit
- · Discover has less international acceptance than Visa or Mastercard
- · High variable APR — carrying a balance is costly
Approval guidance
Designed for applicants who cannot yet qualify for an unsecured card. Discover pre-approval uses a soft credit inquiry.
Confirm current terms before applying. APR, welcome offers, rewards rates, and fees change frequently. The definitive source is the issuer's own product page. This overview is educational and reflects the card's typical structure, not a snapshot of any specific offer.
Reasonable alternatives
Frequently Asked Questions
When does Discover refund the security deposit?
Discover has historically reviewed accounts starting several months after opening and refunded the deposit to accounts that graduate to an unsecured product while remaining in good standing. Exact criteria are set by Discover and can change.
Related resources
- How to use credit cards wisely
- Credit card utilization strategy
- How credit scores work
- Rewards credit card strategy
- Affiliate disclosure
Last updated 2025-01-05. Written by the UseYourCredit Editorial Team.