Discover it Secured Credit Card Review: Earn Cash Rewards & Build Your Credit [2020]

Looking for a credit card that offers rewards and helps you improve your credit? We’ve got you covered.
Last updated Nov 19, 2020 | By Kevin Payne

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If you’re struggling with bad credit or a limited credit history, secured credit cards are one method for building your credit. Often, with secured credit cards, there’s no real perk to having one beyond the building credit aspect.

However, with the Discover it Secured credit card, cardholders have a chance to rebuild their credit while earning cashback rewards. Discover even offers another bonus in the form of doubling any cashback rewards earned for your first year of account opening. Such perks are what separates Discover’s secured card from other options.

While secured credit cards tend to have high interest rates, they also can be a tool to develop proper credit card practices to use long after re-establishing your credit. Does it make sense to have a secured credit card? And if so, what makes the Discover it Secured card so special?

Earn Cash Back While You Build Your Credit

Discover it Secured

Discover it Secured

Discover it Secured


  • 2% cash back at restaurants and gas stations
  • Refundable security deposit
  • Cashback Match at the end of first year
  • FICO Credit Score monitoring


  • Requires security deposit

Who should get this card?

The Discover it Secured credit card is best for two types of people: those with damaged credit and those with limited or no credit. These people often find it difficult to get approved for an unsecured credit card because of their credit history.

A secured credit card normally doesn’t require a credit check as part of the application process. Instead, the account is secured with a security deposit. In the case of the Discover it Secured card, the minimum security deposit is $200.

Discover it Secured is for you if you’re interested in a secured credit card that can eventually be converted into an unsecured card. After eight months, Discover automatically reviews your account, looking for signs of responsible credit card use. If you’ve done your part, your card can be converted to an unsecured card and you’ll be refunded your security deposit.

Card basics

Card Type Secured
Card Issuer Discover
Annual fee $0
Intro bonus Discover matches all your cash back earned in your first year as a cardholder
Recommended credit score Fair, Bad
Reward details 2% cash back on purchases at restaurants and gas stations (up to $1,000 quarterly), and 1% cash back on all other purchases

Top card benefits

  • Generous welcome offer: There's a generous welcome offer with this card: Discover matches all your cash back earned in your first year as a cardholder. There’s no limit on how much cash back you can earn either, which makes this a great perk.
  • Earn cash back: Discover it Secured cardmembers earn 2% cash back on restaurants and gas stations (up to $1,000 quarterly). It also offers unlimited 1% cash back on all other purchases. Cardholders can get paid while establishing credit.
  • Free credit score: Access your FICO credit score for free through monthly statements as well as an online account through the Discover app. You can track your progress as you work to rebuild credit.
  • Refundable deposit: When you pay your balance in full and close your account, you’ll be refunded your full security deposit.
  • No annual fee: Start building your credit without the hassle of an annual fee. There is a $0 annual fee with the Discover it Secured credit card.

Common questions

Is Discover it Secured good for building credit?

Discover it Secured is one of the best secured credit cards for building credit. Using your card responsibly and making on-time payments will help build your credit.

Can you increase your limit with Discover it Secured?

Yes, you can increase your credit limit. There’s a minimum security deposit of $200 to open an account. You can increase your limit up to a $2,500 maximum limit, and your security deposit has to equal your credit limit. Increases are determined by your income and your ability to pay your credit card bill.

How long does it take for Discover it Secured to become unsecured?

This depends on your credit card usage and payment. Accounts are automatically reviewed by Discover after eight months. If you’ve shown responsible use during that time, it’s likely that you would be able to convert to an unsecured card.

Are Discover it Secured payments reported to the credit bureaus?

Yes, any payments made on your Discover it Secured credit card are reported to all three major credit bureaus: Equifax, Experian, and TransUnion.

Will the Discover it Secured card raise my credit score?

Yes, as you use your secured credit card responsibly and make regular on-time payments, your credit will start to improve.

Other cards to consider

Another popular secured credit card to check out is the Secured MasterCard® from Capital One. This card has a $0 annual fee and only requires an initial security deposit of $200. With this card, you will automatically receive consideration for a credit line increase as quickly as six months after account opening, and you have the option to pick your monthly due date. This secured card is worth considering if you want to rebuild your credit.

Another great secured card is the Opensky Secured Visa. Opensky’s credit card doesn’t require a credit check for approval, and users can set their credit limit up to $3,000 ($200 minimum). This card does come with a small annual fee of $35. However, the Opensky Secured Visa comes with all the benefits of a Visa credit card, including fraud protection and acceptance almost anywhere in the world. Opensky also lets cardholders set up email alerts, which can keep you informed about payment due dates or when a transaction has posted.

Earn Cash Back While You Build Your Credit

Discover it Secured

Discover it Secured

Discover it Secured

Special Offer

Discover matches all your cash back earned in your first year as a cardholder

See how these cards compare:

Secured Mastercard® from Capital One
Secured Mastercard® from Capital One
  • $200 initial credit line after making minimum security deposit
  • Consideration for higher credit line as soon as 6 months after account opening
  • No annual fee
  • Pick your monthly due date
OpenSky Secured Visa Credit Card
OpenSky Secured Visa Credit Card
  • Credit limit defined by your refundable deposit
  • Choose your limit between $200 and $3,000
  • No credit check when applying