Review
Discover it® Secured Credit Card Review: Build Credit and Earn Rewards
Want to build credit and earn rewards? The Discover it® Secured Credit Card offers cash back on purchases, plus Discover will match all the cash back you've earned at the end of your first year!
| Annual Fee | $0.00 |
| Regular APR | Purchase APR: 26.49% standard variable purchase APR. Cash Advance APR: 28.49% variable. |
| Intro APR | Balance Transfer APR: 10.99% for 6 months, then Purchase APR applies. |
| Rewards Rate | 2% cash back at gas stations |
| Sign-up Bonus | Unlimited dollar-for-dollar cash back match |
| Other Fees | Minimum interest charge: $.50. Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee: 3% Intro fee of the amount transferred; 5% fee for future transfers. |
Overview
Pros & Cons
What's great
- No annual fee
- Intro APR period
- Cashback on purchases
- Generous sign-up bonus
- No credit score required to apply
Things to consider
- High regular APR
- Balance transfer fee
- Refundable security deposit required
Benefits
Drawbacks
Decision Guidance
Summary
The Discover it® Secured Credit Card is a reasonable option for individuals with poor credit or those looking to build credit. It offers notable strengths such as no annual fee, cashback rewards, and a generous first-year cashback match. The rewards...