The Discover it® Secured Credit Card is a valuable financial tool designed for individuals looking to establish or rebuild their credit history. With no annual fee and no credit score required for the application process, it offers a user-friendly approach to credit building.

The card operates on a secured model, where users provide a refundable security deposit, starting at $200, which becomes their credit limit. One noteworthy feature is the automatic monthly account reviews starting after 7 months, offering the possibility of upgrading to an unsecured card and getting the deposit back, provided the cardholder has demonstrated responsible credit use.

Main information about the Discover it® Secured Credit Card

The Discover it® Secured Credit Card features a variety of highlights that make it appealing to consumers. Some of the key highlights include:

No Annual Fee

The Discover it® Secured Credit Card stands out for not charging an annual fee, making it a cost-effective option for individuals looking to build or rebuild their credit.

Cashback Rewards

This secured card offers a cashback rewards program, allowing users to earn 2% cash back on gas and restaurant purchases, up to $1,000 in combined spending each quarter, and 1% cash back on all other purchases.

Credit Building Opportunity

Geared towards credit building, the card requires a refundable security deposit, which becomes the credit limit.

Automatic Monthly Reviews

The card includes automatic monthly account reviews after the initial 7 months, offering the potential for upgrading to an unsecured card and getting the security deposit back based on responsible credit behavior.

Wide Acceptance

Discover is accepted by 99% of places that take credit cards nationwide, providing users with broad acceptance and usability.

Requirements for obtaining the Discover it® Secured Credit Card

The Discover it® Secured Credit Card is well-suited for the following individuals:

Fit for Your Lifestyle If:

• Credit Builders

Ideal for individuals with limited or no credit history who are looking to establish and build their credit profile responsibly.

• Credit Rebuilders

Suitable for those with a history of credit challenges or a low credit score seeking to improve their creditworthiness over time.

• Cost-Conscious Consumers

A great option for individuals who want to build credit without incurring an annual fee, as the card comes with no annual fee.

• Cashback Enthusiasts

Particularly beneficial for individuals who appreciate cashback rewards, with the opportunity to earn 2% cash back on gas and restaurant purchases and 1% on other purchases.

Not Your Ideal Match If:

The Discover it® Secured Credit Card may not be the best choice for the following individuals:

• Those with Excellent Credit

Individuals with an already strong credit history and a high credit score may find more rewarding options among unsecured credit cards with better terms and benefits.

• Averse to Security Deposits

People who are unwilling or unable to provide a security deposit might prefer unsecured credit cards that do not require this upfront collateral.

How to apply

To apply for the Discover it® Secured Credit Card, follow these detailed steps:

• Visit the Discover Website: Go to the official Discover website using a web browser. Navigate to the credit card section to find information about the Discover it® Secured Credit Card.
• Explore Card Details: Review the features, benefits, terms, and conditions of the Discover it® Secured Credit Card. Ensure that you understand the credit-building aspects, cashback rewards program, and any associated fees.
• Check Pre-Approval: Discover often provides a pre-approval tool. Utilize this tool to check if you’re pre-approved for the Discover it® Secured Credit Card. This step doesn’t impact your credit score.
• Start the Application: If pre-approved or if you decide to proceed with the application, click on the “Apply Now” button. This will initiate the online application process.
• Provide Personal Information: Complete the application form by entering your personal details, including your name, address, date of birth, Social Security number, and employment information. Ensure accuracy as this information is crucial for the application.
• Financial Information: Enter details about your income and other financial information. This helps Discover assess your ability to manage credit.
• Submit the Application: After completing the form and reviewing the terms, submit your application. Be patient as the system processes your information.
• Receive and Activate the Card: Once approved, Discover will send you the secured credit card by mail. Upon receiving it, follow the provided instructions to activate the card.
• Start Using the Card: Once activated, you can start using your Discover it® Secured Credit Card for purchases. Remember to use it responsibly to build your credit.