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  Discover it Secured Credit Card

Discover it Secured Credit Card

in Personal Credit Cards from Discover Bank

Claimed

Discover it Secured Credit Card

Claimed

in Personal Credit Cards from Discover Bank

SuperMoney Net Recommendation Score +43

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +43, equating to 3.9 on a 5 point rating scale.

+43

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly recommended

5 users recommend
0 users are unsure
2 users don't recommend
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Highlights
Community Rating Mostly recommended
Purchase APR  (Variable APR) 22.99%
Balance Transfer APR  (Variable APR) 22.99%
Credit Score Range 300 - 700
Annual Fee $0
Number of Reviews 7

Discover it Secured Credit Card Review

This is a secured credit card cashback credit card issued by Discover Bank. If you're wondering whether Discover It card is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

Key Takeaways
  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 22.99%
  • No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your purchases, but you don't have to pay an annual fee for the privilege.
  • 5% Balance transfer fee. Discover it Secured Credit Card charges a fee of 5% on balance transfers. For example, a balance of $1,000 could cost $50 in transfer fees.
  • Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
  • Gas rewards. 2% cashback on eligible gas purchases.
  • Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have good approval odds.
Pros & Cons of Discover It card
The Good The Bad
  • Has an introductory APR rate on balance transfers of 10.99%.
  • No annual fee.
  • Free access to your credit score.
  • Identity Theft Protection.
  • Considers applicants with fair or poor credit.
  • Cardholders can earn rewards on their purchases.
  • Discover it Secured Credit Card reports to multiple credit bureaus.
  • Higher than average purchase APRs.
  • Does not offer a signup bonus.
  • Charges a 5% balance transfer fee.
Discover It card FAQ

Does Discover It card have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other 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 card Rewards
Minimum rewards rate 1x
Max rewards rate 2x
Annual rewards limit N/A

Does Discover It card have a signup bonus?

This card doesn't offer a cash signup bonus.

Does Discover It card offer an annual loyalty bonus?

This card doesn't offer a cash loyalty bonus.

What are the Discover It card benefits?

It provides the following benefits:

  • Free Credit Score
  • Zero fraud liability
  • Reports to major credit bureaus

What are the relevant APRs for Discover It card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. It has higher than average regular APRs.

It has a variable purchase APR of 22.99%. The card has a variable balance transfer APR of 22.99% . It also has a variable cash advance APR of 24.99% .

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

Does Discover It card have an intro APR offer on balance transfers?

Yes, it offers an intro APR rate on balance transfers of 10.99% for a period of up to 6 months.

Discover it Secured Credit Card Balance Transfers
Description
Balance Transfer Introductory APR 10.99%
Balance Transfer Intro APR Period 6 months
Balance Transfer APR 22.99%
Balance Transfer Fee % 5%

Does Discover It card have an intro APR offer on new purchases?

This card does not offer an intro APR rate on new purchases.

What are the fees for Discover It card?

The following fees apply:

Discover It card Fees
Fees Amount
Annual Fee $0
Returned Payment Fee up to $40
Late Payment Fee up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

What is the customer service phone number for Discover It card?

The Discover It card customer service number is (800) 347-2683.

What is the support contact email for Discover It card?

The support contact email for Discover It card is service@email.discover.com.

How do people rate the customer service and user experience of Discover It card?

Overall, Discover It card is mostly recommended based on community reviews that rate customer service and user experience.

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

Yes, 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 may help improve your credit.

How to apply for Discover It card

  • Visit the Discover It card website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.

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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Annual Fee
No Foreign Transaction Fee
Annual Fee $0
No Interest Grace Period for Late Payment 25 days
Paper Statement Fee $0
Cash Advance Fee Minimum $10
Cash Advance Fee (%) Up to 5%
Minimum Cash Advance Fee ($) Starting at $10
Minimum Interest Charge $0.50
Returned Payment Fee Up to $40
Late Fee Amount Up to $40
Customer Type Personal
Minimum Age 18
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 300 - 700
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Credit Card Benefits
  • Fraud Liability
  • Free Credit Score
  • Identity Theft Protection
No Reward Expiration Period
Rewards Categories
  • 2% Cash Back on Gas up to $1000
  • 2% Cash Back on Restaurants up to $1000
  • 1% Cash Back on Every Purchase
Security Deposit $200 - $2,500
Cash Advance APR (Variable APR) 24.99%
Balance Computation daily balance (including new transactions).
Credit Limit Up to $2,500
Penalty APR (Variable APR) 0%
Purchase APR (Variable APR) 22.99%
Balance Transfer Introductory APR (Variable APR) 10.99%
Balance Transfer Intro APR Period (Variable APR) 6 months
Balance Transfer APR (Variable APR) 22.99%
Balance Transfer Fee % 5%
Card Type
  • Bad Credit
  • Cashback
  • Gas
  • Rewards
  • Secured
Card Network Discover

Discover it Secured Credit Card Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +43, equating to 3.9 on a 5 point rating scale.

+43

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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