The Discover it® Secured Credit Card doesn’t require a credit check. In fact, it helps you build your credit score by offering cardholders cash back rewards as an incentive for responsible credit behavior.
Discover It Secured Credit Card
APR
From the date of your first transfer, the introductory interest rate will be 10.99% for 6 months. Thereafter, it will be 28.24%.
The effective annual interest rate for cash advances is 29.99%. There is no penalty interest.
annual fee
There is no annual fee to apply for or use the Discover It Secured Credit Card.
de0be6d1-798e-42a4-8f76-fa3e68476924Read more: How to apply for a credit card
Welcome or introductory offers
From your first transfer, you will benefit from an introductory interest rate of 10.99% on balance transfers for the first 6 months.
There is also an unlimited doubling of cashback in the first year, 1:1 on all your earned cashback.
Premium rate
The Discover It Secured Credit Card offers decent rewards, especially for a secured card:
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2% cash back at gas stations and restaurants, up to $1,000 on total purchases per quarter
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1% unlimited cashback on all other purchases
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2x unlimited cashback, dollar for dollar matching of your total cashback earned at the end of the first year
How to earn rewards
You can earn 2% cash back rewards when you shop at gas stations and restaurants. You can use your card anywhere Discover is accepted to earn an additional 1% cash back on everything else. Discover is accepted at 99% of merchants nationwide.
How to redeem rewards
You can redeem your rewards in a variety of ways, including:
Additional benefits
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Free access to your FICO credit score, updated monthly
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Reports to the major credit agencies
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$0 fraud liability guarantee that ensures you won’t have to pay for unauthorized purchases
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Free overnight card replacement
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Controls against fraudulent activities and protection of online privacy
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Free alerts to let you know if your Social Security number is being used on the Dark Web
Who is the Discover It Secured Credit Card best suited for?
The Discover It Secured Credit Card is best suited for individuals with no credit history who want to build and demonstrate responsible creditworthiness.
If you don’t qualify for a traditional credit card and need a secured card to start your credit adventure, the Discover It Secured Credit Card is a fantastic option.
If you are eligible for a traditional credit card, you may want to avoid the Discover It Secured Credit Card.
Related: How to improve your creditworthiness with credit cards
Benefits of the Discover It Secured Card
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Cashback rewards
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No annual fee
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Free overnight card replacement
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Reports to the major credit agencies
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No credit check for pre-approval
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Refundable deposit after upgrading to an unsecured card
Disadvantages of the Discover It Secured card
Where can you use the Discover It Secured Credit Card?
You can use the Discover It Secured Credit Card anywhere Discover is accepted, which is about 99% of merchants in the U.S.
How to make a payment with the Discover It secured credit card
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On-line: You can make payments with your Discover It Secured Credit Card or through.
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Phone: To make a payment by phone, call the number on the back of your card or 1-800-347-2683.
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By mail: Where you send your payment depends on your current address. There are four payment addresses in the US, so check your most recent bank statement to make sure your payment is going to the right place.
Discover It Secured Credit Card Customer Service Information
Discover has a 24/7 phone line available at 1-800-347-2683. You can also message a U.S.-based representative who is also available 24/7.
To contact Discover by mail, you can send general inquiries to the following address:
Discover financial services
PO Box 30943
Salt Lake City, UT 84130-0943
You may find more specific contact information for your location and needs at .
Alternative cards to consider
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annual fee
$0
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Welcome offer
None
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Card type(s)
Secured, Cashback
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Purchase APR
29.99% variable
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Introductory APR
N/A
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Recommended credit score
Excellent, Good
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Premium rate
- 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
- 1.5% unlimited cashback on every purchase, everywhere
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Advantages
- No annual or hidden fees. See in seconds if your application has been approved
- Get your $200 deposit back as a credit when you follow card usage best practices, such as making on-time payments
- Be automatically considered for a higher loan in six months, with no additional deposit
Related: Secured vs. Unsecured Credit Cards: What’s the Difference?
This article was edited by Rebecca McCracken
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other company. Information about financial products, including card interest rates and fees, is accurate as of the date of publication. All products or services are presented without warranty. Please visit the bank’s website for the most up-to-date information. This website does not contain all offers currently available. Creditworthiness alone does not guarantee or imply approval for any financial product.
