Discover it Secured Credit Card Review

Discover it Secured Credit Card is a secured credit card cashback credit card issued by Discover Bank. 

Secured cards are credit cards that require a refundable deposit before you qualify for a line of credit. These cards are often used to build the credit of consumers with with poor credit or little credit history.

This card is designed for people who have bad credit. The minimum credit score to apply is 300.

This card has a minimum credit limit of 2500.

If you're wondering whether Discover it Secured Credit Card is the right card for you, read on. This is everything you need to know to make a good choice.

Is there a Discover it Secured Credit Card cash back or rewards program?

Discover it Secured Credit Card is a cashback card. This means you earn a percentage of your purchase as a cash reward. With Discover it Secured Credit Card you receive 1% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 2% for purchases in a bonus category.

Discover it Secured Credit Card Rewards

Rewards rate (all purchases)	1%
Max rewards rate	2%
Annual rewards limit	N/A
Signup Bonus ($)	N/A
Signup Bonus Spend Requirement	$0

What are the Discover it Secured Credit Card benefits?

Discover it Secured Credit Card provides the following benefits:

• Free Credit Score
• Fraud Liability
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for Discover it Secured Credit Card?

Discover it Secured Credit Card has a variable purchase APR starting at 25.24% . The card has a variable balance transfer APR starting at 25.24% .

It also has a variable cash advance APR starting at 27.24% .

The good news is this card does not charge a penalty APR if you are late on a payment.

Discover it Secured Credit Card Balance Transfers

Description
Balance Transfer APR	Starting at 25.24%
Introductory Rate	10.99%
Intro APR period (months)	6

Discover it Secured Credit Card Rates & Terms

Description
Balance Computation	daily balance (including new transactions)
Purchase APR	Starting at 25.24%
Credit Limit	2500
Penalty APR	0%
Cash Advance APR	Starting at 27.24%
Security Deposit	$200 - $2,500
Introductory Rate	N/A
Intro APR period (months)	N/A

What are the Discover it Secured Credit Card fees?

The following fees apply to Discover it Secured Credit Card:

Discover it Secured Credit Card Fees

Fees	Amount
Annual Fee	$0
Balance Transfer Fee	3%
Returned Payment Fee	$37
Late Payment Fee	up to $37

Does Discover it Secured Credit Card report your account activity to credit bureaus?

Discover it Secured Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for Discover it Secured Credit Card

• Visit the Discover Bank website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.