Discover it® Secured Card Review
The gold standard for secured credit cards. Cash back rewards, no annual fee, and a path to an unsecured card.
⭐ Our Verdict: Best Overall Secured Card
The Discover it Secured is the best secured card for most people. It's one of the few secured cards with real cash back rewards, has no annual fee, and Discover reviews accounts periodically for an upgrade. Discover is now part of Capital One, so check current availability before you apply.
How It Works
Like other secured cards, you provide a refundable security deposit:
- Deposit: $49, $99 or $200 (based on your credit)
- Credit limit: At least $200; your maximum ($1,000–$3,000) is set at approval
- Limit vs. deposit: Your limit can be higher than your deposit
- Deposit refund: Returned when you graduate or close in good standing
Discover reports to all three credit bureaus (Equifax, Experian, TransUnion), so on-time payments build your history.
Rewards That Actually Matter
Most secured cards offer nothing. Discover it Secured offers real rewards:
- 5% cash back in rotating quarterly categories you activate (up to a quarterly cap)
- 1% cash back on all other purchases
- Cashback Match™: Discover doubles all cash back at the end of your first year
That Cashback Match is huge. If you earn $100 in cash back year one, Discover gives you $200 total. Few other secured cards offer anything close.
The Graduation Path
Discover periodically reviews your account for an upgrade — there's no set month. If you've:
- Made all payments on time
- Kept utilization reasonable
- Had no returned payments
...you may be upgraded to an unsecured card and get your deposit back.
💡 Graduation Timeline
Discover doesn't publish a timeline or exact criteria. On-time payments and low utilization are key. Results vary.
Pros and Cons
✓ Pros
- No annual fee — ever
- Real cash back rewards (rare for secured)
- Cashback Match doubles first year earnings
- Periodic reviews for an upgrade
- Reports to all 3 bureaus
- No foreign transaction fees
- $0 fraud liability
✗ Cons
- Requires credit check (may be denied)
- $49–$200 deposit required
- APR is high (standard for secured)
- Not accepted everywhere (Discover network smaller than Visa/Mastercard)
Who Should Get This Card?
✓ Ideal For
- • Building credit from scratch
- • Rebuilding after bankruptcy (post-discharge)
- • Anyone who wants rewards while building credit
- • People who can put down a $49–$200 deposit
✗ Look Elsewhere If
- • Can't afford any deposit — try Chime (no deposit)
- • Just out of bankruptcy — try OpenSky (no credit check)
- • Discover isn't taking applications — try Capital One Platinum Secured
Discover it Secured vs. Alternatives
| Feature | Discover it Secured | Capital One Platinum | OpenSky |
|---|---|---|---|
| Annual fee | $0 | $0 | $35 |
| Rewards | 5% rotating, 1% other | None | None |
| Credit check | Yes | Yes | No |
| Min deposit | $49-200 | $49-200 | $200 |
| Network | Discover | Widely accepted | Visa |
| Graduation | Periodic review | Possible, no set date | Auto review at 6 mo |
How to Apply
- Check pre-approval — discover.com/credit-cards/secured (soft pull; also check current availability)
- Apply online — The application itself is a hard pull
- Fund your deposit — Bank transfer or debit card
- Receive card — Usually 7-10 business days
- Activate and use responsibly
Tips for Success
- Keep utilization low: Use less than 30% of your limit (ideally under 10%)
- Pay on time every month: Set up autopay for at least the minimum
- Pay before statement closes: For optimal utilization reporting
- Use the card regularly: Small purchases show responsible use
- Don't close after graduating: Keep it for the age and limit
The Bottom Line
The Discover it Secured is the best secured credit card available for most people:
- One of the few secured cards with real cash back rewards
- No annual fee
- Periodic reviews for an unsecured upgrade
- Cashback Match doubles your first year rewards
If Discover is taking applications and you can get approved with a $49–$200 deposit, this should be your first choice for building credit. The rewards alone make it worth using even after you have access to other cards.