Discover it Secured: Designed for Those Looking to Build or Rebuild Credit

The Discover it Secured Credit Card is an ideal option for individuals seeking to build or rebuild their credit scores. Issued by Discover, a reputable name in the credit industry, this secured credit card combines useful features with a user-friendly approach. Whether you’re new to credit or looking to enhance your score, the Discover it Secured card is a versatile tool that allows you to make purchases confidently while working towards financial stability.

Card Type

This card falls under the category of secured credit cards. These are designed specifically for consumers building or rebuilding their credit history. Unlike traditional credit cards, a secured card requires a cash deposit as collateral, which sets your credit limit.

Annual Fee

The Discover it Secured credit card comes with no annual fee, making it an affordable choice for consumers. This feature allows cardholders to save money while improving their credit without worrying about a yearly fee eating into their budget.

Rewards Program

One of the standout features of the Discover it Secured card is its rewards structure. Cardholders earn 2% cashback on up to $1,000 spent in rotating categories each quarter, such as gas stations and restaurants. Additionally, you earn an unlimited 1% cashback on all other purchases. This rewards program not only incentivizes spending but also helps users accumulate cashback to be used towards future purchases.

Sign-Up Bonus

Upon opening an account and making a deposit, new cardholders can take advantage of a special sign-up bonus that matches all cashback earned in the first year. This means that if you earn $100 in cashback during that time, Discover will match it, providing a significant boost to your savings and rewards.

APR (Annual Percentage Rate)

The regular APR for the Discover it Secured card is competitive, typically ranging around 24.24% (variable). While there is no introductory APR offer, the APR is clearly stated, helping consumers budget effectively, especially when carrying a balance.

Foreign Transaction Fees

For those who travel, the Discover it Secured card is appealing as it comes with no foreign transaction fees. This offers peace of mind when making purchases abroad, eliminating additional costs typically charged by many credit cards.

Balance Transfer Options

While secured cards typically have limited balance transfer options, Discover provides a standard balance transfer facility, allowing users to transfer existing high-interest debt. However, keep in mind there may be a fee incurred with transfers, so its advisable to check specific details before proceeding.

Additional Fees

Besides the absence of an annual fee, the Discover it Secured card is transparent about its additional fees, with late fees ranging from $0 to $40 and a cash advance fee set at 5% of the amount or $10, whichever is greater. Its essential for cardholders to be aware of these fees to prevent unexpected charges.

Card Benefits and Perks

This secured credit card includes several valuable benefits such as extended warranty protection, which doubles the warranty period on eligible purchases. Additionally, cardholders have access to free FICO credit scores to monitor their credit health, which is vital when working on credit rebuild efforts.

Customer Protections and Insurance

The Discover it Secured offers robust customer protections, including fraud liability, ensuring you wont be responsible for unauthorized charges. Users also receive purchase protection, covering eligible items against theft or damage. Furthermore, a rental car insurance benefit is included, providing coverage against potential damages.

Eligibility and Credit Score Requirements

This card is specifically crafted for individuals with limited or no credit history. Therefore, it generally requires a credit score of at least 500 for approval, making it accessible to many consumers who are looking to start fresh.

Introductory Offers

While the Discover it Secured does not feature a specific introductory APR offer, the matching cashback in the first year acts as an attractive initial incentive for new users.

Special Features or Unique Selling Points

The Discover it Secured card’s main unique selling point lies in its cashback rewards program, which is relatively rare for secured credit cards. Additionally, the structure of the cashback match for the first year significantly enhances the card’s appeal, motivating responsible spending.

How to Apply

Applying for the Discover it Secured credit card is straightforward. Interested individuals can easily complete the application online through the official Discover website. For more details about the card and to apply, visit the UpCube.net and check the