Discover it Secured Credit Card Review

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

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 rewards card. It gives you rewards 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 up to 5% on balance transfers. For example, a balance of $1,000 could cost up to $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.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still qualify.

Discover it Secured Credit Card Pros and Cons:

The Good	The Bad
Has an introductory APR rate on balance transfers of 10.99%. No annual fee. Free access to your credit score. Considers applicants with fair or poor credit. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. Discover it Secured Credit Card reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.	Higher than average purchase APRs. Does not offer a signup bonus. Charges a 5% balance transfer fee.

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

What are the Discover it Secured Credit Card benefits?

Discover it Secured Credit Card provides the following benefits:

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

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

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Discover it Secured Credit Card has higher than average purchase APRs.

Discover it Secured Credit Card 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.

What are the fees for Discover it Secured Credit Card?

The following fees apply to Discover it Secured Credit Card:

Discover it Secured Credit Card Fees

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

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 it Secured Credit 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 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.