Discover it Secured Credit Card

Issuer and Card Type

The Discover it Secured Credit Card is issued by Discover Financial Services, known for its commitment to customer satisfaction and innovative financial products. This card is a secured credit card, designed primarily for individuals looking to rebuild or establish their credit history.

Annual Fee

A significant advantage of the Discover it Secured Credit Card is its no annual fee policy, making it accessible for individuals who want to manage their finances without additional costs.

Rewards Program

The card features a compelling rewards program that allows cardholders to earn cashback on their purchases. You can earn 1% cashback on all purchases and 2% cashback at gas stations and restaurants up to $1,000 every quarter. The rewards can be easily redeemed for statement credits, gift cards, or cash deposited directly into your bank account, giving you flexibility and value from your spending.

Sign-Up Bonus

New cardholders can earn an exclusive cashback match as a welcome bonus in their first year. There are no spending requirements to qualify for this bonus, essentially doubling the cashback earned during the introductory year, significantly enhancing the rewards potential.

APR (Annual Percentage Rate)

The standard APR for purchases is competitive, typically ranging from 24.99% variable based on creditworthiness. The card does not offer an introductory APR, so it is advisable for cardholders to pay balances in full to avoid high interest charges.

Foreign Transaction Fees

Cardholders can travel worry-free, as the Discover it Secured Credit Card does not charge any foreign transaction fees. This feature makes it an excellent choice for individuals who travel internationally and want to avoid additional costs while making purchases abroad.

Balance Transfer Options

Currently, the card does not promote specific balance transfer offers; however, there might be options for transferring a balance at a standard APR rate. It’s recommended to check with Discover for any updates or promotional offers which may apply.

Additional Fees

While the Discover it Secured Credit Card has no annual fee, it’s important to note that there may be late payment fees of up to $40 for missed payments and a cash advance fee of either 5% of the amount transferred or a minimum fee of $10, whichever is greater.

Card Benefits and Perks

This card comes with several valuable benefits and perks beyond its rewards program. Notable features include free access to a FICO® credit score, which helps cardholders track their credit health and understand how their financial decisions impact their scores.

Customer Protections and Insurance

The Discover it Secured Credit Card offers robust customer protections that include fraud liability protection, ensuring that cardholders are not accountable for unauthorized purchases. Additionally, it provides purchase protection and extended warranty coverage for eligible purchases.

Eligibility and Credit Score Requirements

To apply for the Discover it Secured Credit Card, applicants typically need to have fair to good credit or a credit score ranging from 580 to 740+. It serves as an excellent option for those looking to strengthen their credit history.

Introductory Offers

There aren’t any current introductory offers such as a 0% APR period; however, the cashback match during the first year serves as a valuable incentive for new users.

Special Features or Unique Selling Points

One of the standout features of this card is the ability to eventually upgrade to an unsecured card with responsible use. This unique pathway provided by Discover differentiates it from other secured cards that often do not offer such a transition.

How to Apply

Applying for the Discover it Secured Credit Card is a straightforward process. Interested applicants can fill out the application form online through the ‘>official website or learn more about financial insights at UpCube.net.