Discover it® Secured: Build Credit and Earn Rewards
Build credit with responsible use while earning cash back, with no annual fee and a refundable security deposit starting as low as $49.
Earn Cashback Rewards
Earn 5% cash back in different everyday categories each quarter, up to the quarterly maximum when activated, plus 1% cash back on other eligible purchases.
No Annual Fee
Pay $0 annual fee while earning rewards on eligible purchases. Interest and other account charges may still apply depending on how the card is used.
Refundable Security Deposit
The required refundable deposit can be $49, $99 or $200, depending on creditworthiness, and provides an initial credit line starting at $200.
Unlimited Cashback Match
Discover automatically matches all the cash back earned by a new cardmember during the first 365 days, with no limit on the amount matched.
How Discover it® Secured Works
The Discover it® Secured Cash Back Credit Card is a secured credit card, which means a refundable security deposit is required after approval. Discover currently sets the required deposit at $49, $99 or $200, depending on creditworthiness, while the initial credit line starts at $200.
Cardmembers can earn 5% cash back in different everyday categories each quarter, up to the quarterly maximum after activation. Other eligible purchases earn unlimited 1% cash back. New cardmembers also receive Discover's Cashback Match for cash back earned during the first 365 days.
Discover reports account activity to the three major credit bureaus. Responsible use, including making payments on time and managing balances, can contribute to a positive credit history. However, simply opening the account does not guarantee an increase in a credit score.
Frequently Asked Questions
-
Discover states that no specific credit score is required to apply, although it may use an existing score when one is available. Approval still depends on Discover's eligibility requirements and application review.
-
The required refundable deposit is currently $49, $99 or $200, depending on creditworthiness. A qualifying deposit provides an initial credit line starting at $200.
-
Discover reports account activity to the three major credit bureaus. Responsible use and on-time payments may contribute to building credit history, but an improvement in a credit score is not guaranteed.
-
No. The card currently has a $0 annual fee. However, interest and other charges may apply depending on the account balance, payment behavior and current card terms.
-
Yes. Discover may return the security deposit and move an eligible account to an unsecured card after the cardholder establishes a positive track record and meets the applicable requirements. The deposit can also be refunded after the account is closed and the balance is paid in full.
What to Know Before Applying
The card requires a refundable security deposit, which is different from an annual fee. The deposit serves as collateral for the account and does not replace monthly payments. The amount required depends on Discover's evaluation of the application.
The rewards structure also has specific conditions. The 5% cash back categories change each quarter and require activation, with rewards subject to the applicable quarterly maximum. Other eligible purchases currently earn 1% cash back.
Discover states that no specific credit score is required to apply, but approval is not guaranteed. Before submitting an application, review the current rates, fees, deposit requirements and account terms directly on Discover's website.