Rating: 5 Stars
Build Credit and Earn Rewards on Gas and Restaurants
|Regular APR:||24.74% (Variable)|
|Intro APR (Purchases):||0% for 6 months|
|Intro APR (Balance transfers):||After January 10, 2020 you no longer get: 10.99% intro APR for 6 months from the date of your first balance transfer|
|Rewards Rate:||Earn 2% Cash Back at gas stations and restaurants on up to $1,000 in purchases each quarter|
Earn unlimited 1% cash back on all other purchases
Discover will match all the cash back you?ve earned at the end of your first year, so your cash back gets doubled
|Credit Needed:||(0 – 300) Bad/Limited/No|
*See online credit card application for details on the terms and conditions.
- Click APPLY NOW to apply online
- It’s a Real Credit Card: unlike a prepaid or debit card, this is a real credit card that lets you build your credit history with the three major credit bureaus.
- Refundable Deposit: your secured credit card requires a refundable security deposit. You choose the deposit amount up to the credit line approved
- Earn 2% Cash Back at gas stations and restaurants on up to $1,000 in purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically
- We?ll match all of the cash back you’ve earned at the end of your first year, automatically
- Easily view your FICO Credit Score on monthly statements, mobile and online for free
Is Discover it Secured worth it?
Discover it Secured is a great card for people looking to build credit and earn cash back on gas and restaurants purchases. Cardholders earn 2% Cash Back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, unlimited 1% cash back on all other purchases, and Discover will match all the cash back you’ve earned at the end of your first year so your cash back gets doubled.
- Build your credit
- Monthly reporting to 3 major credit bureaus
- No annual fee
- Option to upgrade to an unsecured Discover card, where you don’t make a deposit – it’s recommended you make on-time payments for Discover it Secured for 8 months first
- Minimum security deposit of $200 is on the low end for secured cards
- High regular APR for a secured card: you would be paying interest at 24.74% APR on a loan you gave yourself
Why 5 Stars?
|Foreign Transaction Fee||None|
|Balance Transfer Fee||Starting January 10, 2020, you no longer get an intro fee of 3% of the amount of each balance transfer that has posted to your account. It then becomes 5% of the amount of each transfer|
|Cash Advance Fee||Either $10 or 5% of the amount of each cash advance, whichever is greater|
$0 Fraud Liability
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
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