TL;DR:Â We absolutely love this card! When you consider the cash back rewards and no annual fee, this becomes one of the best secured credit card available. We just wish that Discover was accepted more widely internationally.
TL;DR:Â We absolutely love this card! When you consider the cash back rewards and no annual fee, this becomes one of the best secured credit card available. We just wish that Discover was accepted more widely internationally.
A great credit card to build or rebuild your credit.
Secured credit cards are designed for people who the banks consider to be the riskiest borrowers based on their credit score.
Unlike a prepaid card, a secured credit card reports to the major credit bureaus. This gives you the opportunity to build your credit with responsible use.
Surprisingly, this secured credit card actually gives you cash back!
We absolutely love this card. When you consider the cash back rewards and no annual fee, this becomes one of the best secured credit card available. We just wish that Discover was accepted more widely internationally.
This secured credit card requires a $200 to $2500 refundable deposit based on your credit score.
The minimum security deposit required to open an account is $200, and your security deposit must equal your credit limit. The maximum credit limit (up to $2500) is determined by Discover based on your income and ability to pay.
After eight months, Discover will automatically review your accounts on a monthly basis to see if your account can be upgraded to a non-secured version. If you do get upgraded, then your security deposit is refunded.
The Discover it Secured credit card offers some amazing cash back benefits that are better than some cash back credit cards with annuals fees.
Our favorite benefits include:
For a full list of the Discover it Secured credit card benefits click here.