Discover it® Secured Card - No Annual Fee

Apply Nowon Discover's secure website
Apply Nowon Discover's secure website

Discover it® Secured Card - No Annual Fee

Apply Nowon Discover's secure website
Apply Nowon Discover's secure website

Card details

  • New! We’ll monitor your Social Security Number. Get an alert if we find your Social Security Number on any of thousands of risky websites.* Activate for FREE.
  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases.
  • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.

APR, Variable

APR: 23.99% Variable APR

Cash Advance APR: 25.99%, Variable

Pros

  • No annual fee
  • 10.99% on balance transfers for 6 months

Rewards rate

1.00%

Annual fee

$0

Intro APR

10.99% on Balance Transfers for 6 months

Recommended credit score

Not sure which card is best for you?
Take a simple quiz to find out

Nerdwallet Review

Author: Virginia C. McGuire

Like other secured credit cards, the Discover it® Secured Card - No Annual Fee requires cardholders to put down a deposit — $200 minimum, in this case. Discover holds the deposit as collateral against money you borrow on the card.

But unlike most other secured cards, the Discover it® Secured Card - No Annual Fee offers rewards. You can earn 2% back on up to $1,000 in combined restaurant and gas station spending per quarter, for as much as $80 a year, and 1% back on all other purchases. The annual fee is $0, and there's a sign-up bonus: Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.

One other thing sets this card apart. Eight months after you open the account, Discover will start reviewing your account regularly to see whether you're eligible to transition to an unsecured card with even better rewards. We call that a pretty good deal.

Want to know more? Check out our full review of the Discover it® Secured Card - No Annual Fee.

NerdWallet reviews are the result of independent research by our editorial team while cardholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.

Write a review

Read Our Posting Guidelines
user avatar
Overall Rating:
Rate it
undefined reviews

Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.