Discover it® Secured Credit Card Review

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Written By
G. Dautovic
July 01, 2023
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If you are new to the American credit system, you may find yourself struggling to grasp concepts such as APR and credit scores. In the US, your credit score is determined by your financial portfolio, which shows your payment history, amount owed, and other elements determining how well you manage your finances.

Covering necessary expenses is essential, no matter who or where you are. That is when a good credit card system comes in handy.

To that end, we bring you our Discover it® Secured Credit Card Review. The card has piqued our interest due to some great benefits for both people building their credit score for the first time and those trying to get back on their feet.

23.74% (variable)

2x unlimited cashback match for the first year

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Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

23.74% (variable)
2x Unlimited Cashback Match for the first year
10.99% intro APR on balance transfers for 6 months
pros thumb up Strengths
  • Reward system
  • No annual fee
  • Option to upgrade your package
  • Mobile banking
pros thumb up Weaknesses
  • High APR
  • High minimum deposit

Discover it® Secured Credit Card Overview

First issued in 2016, the Discover it® secured credit card is a good option for anyone trying to build or rebuild their credit score. There are plenty of benefits in place to help people get their credit score up in a fairly short period. 

Discover it® is a credit-building card, so there’s no need to meet minimum credit score requirements. The rewards system that grants you a quarterly cash back is another reason Discover it® is among the top secured credit cards we have reviewed recently.

How Discover it® Secured Credit Card Compares to Other Cards in the Same Class

Discover it® Secured Credit Card Logo
Discover it® Secured Credit Card
Regular APR:

23.74% (variable)

Annual fee:


OpenSky® Secured Visa® Credit Card Logo
OpenSky® Secured Visa® Credit Card
Regular APR:

21.14% (variable)

Annual fee:


First Access Visa® Card Logo
First Access Visa® Card
Regular APR:


Annual fee:

$75 For the first year; $48 thereafter

How To Apply for Discover it® Secured Credit Card

Applying for the Discover it® credit card is pretty easy and doesn’t take more than five minutes.

You are eligible for the card if you are at least 18 years of age and have a Social Security number, US address, and US bank account.

The form requires you to provide your full name, home address, date of birth, employment status, monthly housing or rent payment, total gross income, and e-mail address.

After submitting the application, you will need to provide your bank routing and account numbers and a minimum security deposit of $200.

If you are asking yourself what credit score you need for the Discover it® card, let us stop you right there. As mentioned, there are no Discover it® secured card credit score requirements. However, if the bank still finds you a risky investment, there is a possibility of your application being rejected.

You can check your Discover it® card's status at any time by contacting customer support, which is available 24/7.

Discover it® Secured Credit Reward System

To maximize your rewards, you should be well acquainted with this card’s reward system. With the card’s 2% cashback bonus, you can earn up to $1,000 in cash back on combined purchases at restaurants and gas stations. All other purchases, including those made after the initial $1,000, earn you a 1% cashback bonus.

Even online purchases are included, but the transaction date can be the day of the shipment. However, if the merchant does not have the right merchant category code, which is assigned based on the product and service type, the bonus will not be added to your account.

The cashback bonus can be redeemed at any time and does not expire. However, if the account has not been active for up to 18 months or is closed, the rewards will be transferred to your bank account or sent by check.

Discover it® Secured Credit Card Limit and Deposit

Your Discover it® card credit limit is determined by your deposit. While the required minimum deposit is $200, the maximum is $2,500, and the Discover it® card limit will match the amount you put down as your deposit. After seven months of using the Discover it® credit card, your account will be reviewed.

After seven months, you are immediately eligible for your Discover it® security deposit refund, provided that all your payments have been made on time, including any possible loans, and that you’ve kept your “good status.” The “good status” entails no charge-offs, delinquencies, repossessions, or bankruptcies in the previous consecutive six-month period.

Secondly, the card must not be in a prohibited status, including closed, suspended, deceased, stolen, or fraud at the time of the review, for you to get your deposit back. The refund is typically processed in two to three business days, depending on your personal delivery preference.

Your security deposit will also be refunded when you upgrade your account, leaving the account number, benefits, and rewards the same.

Discover it® Secured APR and Fees

First and foremost, there is no annual fee you need to pay on this secured credit card. Your credit history is reported to all three major credit bureaus, unlike most debit or prepaid cards.

If you are late with your payment for the first time, there is also no required fee, but each subsequent delinquency will result in a $41 penalty. There are also no foreign transaction fees and no fees for overnight card replacement shipping. In addition, there is $0 fraud liability, which means that the cardholder is not responsible for any unauthorized charges and is protected if the card is fraudulently used, lost, or stolen.

There is, however, an intro balance transfer fee of 3% until September 10, 2022. After that, the balance transfer fee rises to 5%.

With Discover it® secured, the regular purchase and balance transfer APR is 23.74% (variable), which is not the lowest we’ve seen, but there is a balance transfer intro APR of 10.99% for the first six months. On the other hand, the cash advance APR is not 23.74%, but 25.74%.

Discover Mobile App

The Discover credit card application is fully compatible with both iOS and Android phones, with ratings of 4.8 and 4.5 out of 5, respectively. The app allows you to view your account balance, credit score, accumulated rewards, and redeem the rewards.

It is incredibly streamlined and allows you to contact customer support immediately through the app, making it a lot easier to resolve any issues you might have right on the spot.

By far the best option offered by the Discover it® secured credit card app is Freeze It. Once enabled, the app does not allow for any further purchases, but payments such as bills, credits, returns, delayed authorizations, etc., will still go through.

Discover Customer Support

With the Discover it® secured credit card, the customer support center is available 24/7. The agents are knowledgeable and professional, ready to answer any questions you might have. The two options to contact support are through chat or phone. Both are available in English and Spanish, and they even have a phone number to call if you are outside of the US.

Why You Should Consider the Discover it® Secured Credit Card

The Reward System

The Discover it® credit card (the secured one, at least) gives you a cashback bonus of 2% on the first $1,000 you spend in restaurants and gas stations and then 1% on all future purchases made with eligible merchants. It also doubles your cashback bonus at the end of your first year.

No Annual Fee

With an APR of 23.74% and a security deposit that you need to provide up front for the credit card, the lack of an annual fee is a big help and a weight off your shoulders.

The Option to Upgrade Your Package

After just seven months of using its secured credit card, Discover it® will review your account. If all your payments are in order and you don’t have any debts toward the bank, you’ll be able to upgrade to an unsecured package while keeping all your benefits.

Mobile Banking

The card comes with Android and iOS mobile apps for checking your credit score, balance, and rewards, redeeming rewards, and more.

Why You Should Explore Other Options

The main reasons to seek other credit card providers include:

The Minimum Deposit Could Be Lower

The $200 minimum deposit with the Discover card for rebuilding credit can be a problem for some. There are other cards offering higher limits for a lower deposit. Be sure to do your research and check out the best cards for those looking to rebuild their credit score, which is significantly harder than building it for the first time.

No Intro Purchase APR

Although the APR here is pretty average, the offer could be made sweeter with a lowered intro APR, especially since the card is marketed as a beginner option.


The Discover it® card is a great pick, even though it has certain shortcomings. The $0 annual fee, card limit set by the deposit you make, and wide range of deposit options provide you with a solid opportunity to get back on your feet, as it was specially designed for people with poor credit scores. Be sure to check it out - we guarantee you will not be disappointed!


What is the maximum deposit for a Discover it® secured card?


The maximum deposit for the Discover it® Credit Card is $2,500. If you deposit that amount, it will be equal to your card limit.

Is the Discover it® card good for building credit?


Discover it® is good for building credit. It might not be everyone’s first choice, but its many useful features and no annual fee go a long way when building or rebuilding your credit. Plus, having to report to the three main consumer credit bureaus only makes it more secure.

Can you get denied a secured credit card?


Unfortunately, yes. Like all other credit card issuers, if Discover it® estimates that your credit profile is too risky, you will probably be denied its services.

How long does it take to get your Discover secured credit card?


This is one of the advantages Discover it® has over its competitors. The Discover it® secured credit card takes five to seven business days to be issued, while most of the others take ten business days.