Discover it Secured Credit Card review: Earn rewards while building credit
Editor's Note
Discover it Secured Credit Card overview
The Discover it Secured Credit Card is a good option for people with limited or poor credit history. It has no required credit score and gives cardholders a chance to have their security deposit refunded. This card also earns cash-back rewards, making it a good choice for any credit card beginner. Card rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
If you're building (or rebuilding) your credit, a secured credit card is an excellent option. You can be approved with a low (or sometimes no) credit score. Typically, secured cards require a deposit — which becomes your credit limit at the start.
While these can be a great option, they typically lack the benefits we expect from our top rewards cards — like a welcome bonus and solid earning rates.
The Discover it Secured Credit Card, however, offers more than just an opportunity to build credit. Cardholders can earn a refund on their security deposit, making this card a strong contender if you're looking to build credit. On top of that, you'll earn rewards on your purchases.
This card has no annual fee and no required credit score, but it does require a security deposit of at least $200 — and your deposit amount is what your credit limit will be.
Let's dig into the card details to see if it's a good fit for you.
The information for the Discover it Secured Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Discover it Secured Credit Card pros and cons
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Discover it Secured Credit Card welcome offer
New Discover it Secured cardholders will earn a cash-back match at the end of the first cardholder year. There is no limit to the amount of cash back the cardholder can earn in this match.
The value of this welcome offer will depend on how much you spend on the card in the first cardholder year. Still, many secured cards don't offer a welcome bonus at all, so the opportunity to earn an unlimited cash-back match is a valuable perk.
Related: This month's best welcome offers
Discover it Secured Credit Card benefits
As with most secured cards, the primary benefit of the Discover it Secured Credit Card is the ability to improve your credit score. However, this card also offers some additional perks that make it stand out against other secured cards on the market, such as a welcome offer and the chance to earn bonus rewards in some categories.
Additionally, cardholders can get their security deposit refunded after six consecutive on-time payments and six months of good status on all their credit accounts.
The card also comes with standard benefits like fraud protection and the ability to track your credit score.
These benefits fall short of what you'll find on our favorite travel rewards cards, but they're pretty standard for a card with no annual fee. Plus, the ability to get your security deposit refunded is a unique benefit that may sway you to choose this over other secured credit cards.
Related: How to check your credit score for free
Earning cash back on the Discover it Secured Credit Card
The Discover it Secured Credit Card earns 2% cash back on the first $1,000 in combined purchases at gas stations and restaurants each quarter (then 1%) and 1% cash back on all other purchases.
These earning rates pale in comparison to our favorite travel rewards and cash-back credit cards, but they're solid for a secured card. Many secured cards don't earn any rewards, so the ability to earn cash back at all is an asset on this card, and earning bonus cash back on bonus categories is even better.
Redeeming cash back on the Discover it Secured Credit Card
You can redeem your rewards as cash back in the form of a deposit to your bank account or a statement credit to your account. Additionally, you can pay directly with your rewards through Amazon, Apple Pay and PayPal.
You can also redeem your rewards for gift cards, or use them to make a charitable donation. This is a decent range of redemption options, given that this isn't a lucrative travel rewards card.
Related: How to redeem cash-back rewards from your credit card
Which cards compete with the Discover it Secured Credit Card?
If the Discover it Secured Credit Card isn't quite what you're looking for, consider one of these options instead:
- If you want to earn more cash back: The Capital One Quicksilver Secured Cash Rewards Credit Card earns an unlimited 1.5% back on all purchases, making it a good option if you want to earn more cash back on general purchases. To learn more, check out our full review of the Capital One Quicksilver Secured Credit Card.
- If you want a lower security deposit: The Capital One Platinum Secured Credit Card requires a security deposit as low as a $49 and may give you a higher credit line than your security deposit. To learn more, check out our full review of the Capital One Platinum Secured Credit Card.
- If you don't need a secured card: The Citi Double Cash® Card (see rates and fees) allows you to earn 2% cash back on all purchases (1% as you buy and another 1% as you pay), making it a better option if you don't need a secured card. To learn more, check out our full review of the Citi Double Cash.
For additional options, check out our full list of the best secured credit cards and the best cash-back credit cards.
Related: How to choose the best credit card for you
Is the Discover it Secured Credit Card worth it?
The Discover it Secured Credit Card is a strong option for those building credit. It has no required credit score and allows you to earn rewards on all your purchases — including bonus rewards on dining and gas station purchases. Still, its earning rates are lower than many nonsecured cash-back cards, so you'll want to explore other options if you don't need a secured card.
Bottom line
The Discover it Secured Credit Card is a good way for cardholders to earn cash-back rewards while building credit. However, if you want different earning rates or a lower security deposit requirement, you'll want to research other secured credit cards before deciding on this one.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.