Credit Card
Discover It® Secured Credit Card Review: Cashback!
In our comprehensive review, you'll "discover" the Discover It® Secured Credit Card in a unique way. Through a professional analysis of the pros and cons of this financial tool.
Advertisement
It already sounds good, and there’s even a cashback program
See how to rebuild your credit while earning cashback with the Discover It® Secured Credit Card! For those who are looking to improve their score without finding cards lacking benefits.
It’s a completely different story because you’ll have access to a robust and comprehensive cashback program. And you can get your deposit back after 7 months. Nice, right?
| Things to know right away about this credit card! |
| The card is designed for low credit scores or to build or rebuild their credit. |
| A Purchase APR of 28.24% can be considered high. |
| There are some fees, such as for balance transfers. |
| The Discover It® Secured Credit Card offers a robust cashback program. |
Now, let’s get to what matters. We’ve put together something to inform you about this accessible Discover It® card. Explore the tool’s benefits and drawbacks.
Understand why the rate might be high and how to return your security deposit. It all comes down to learning how to use the card and find financial health.
Decoding Discover It® Secured Credit Card: Key Features
We’re talking here, without a doubt, about a credit builder. It all starts with your security deposit, which will even determine the value of your credit limit.
As you improve your history with the Discover It® Secured Credit Card, you can access a rewards program. After seven months, you might be able to reclaim your deposit.
It begins with checking your score and seeing if you’re pre-approved for this secured credit card. This step won’t harm your score, which is very good.
So, the key is to use your Discover It® card and its benefits responsibly. It’s almost a predetermined period for you to see your credit score improve.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Check the pros and cons: is this card a fit for you?
All credit cards and tools have pros and cons, and this one is no exception. Consider whether the balance tips more towards the positive or negative side and if it fits your reality.
The highs…:
- • You can check your pre-qualification status without further harming your credit score.
- • You won’t pay an annual fee to use your Discover It® Secured Credit Card for your purchases.
- • The Introductory Balance Transfer APR will be just 10.99% for 6 months.
- • Your security deposit is refundable. After 7 months, your account will be reviewed automatically monthly. You could be upgraded to an “unsecured” card, and then you will receive your deposit back.
- • When you use your Discover It® Secured Credit Card at Gas Stations and Restaurants, you earn a 2% Cashback Bonus, limited to $1,000 in combined purchases each quarter.
- • Control your finances and credit growth: Get free access to your FICO Credit Score.
- • Security and peace of mind for your purchases: Thanks to the Zero Liability Guarantee for Fraud, you will never be wrongfully held responsible for unauthorized purchases on your card.
- • Even more security for you: As a Discover It® Secured Credit Card holder, you will receive free alerts if your Social Security Number is found on malicious websites selling financial and personal data. Activation for this service is completely free. It’s a service that typically comes at a cost at most digital and financial security institutions.
… and the lows:
- • Your credit line will be limited to the amount of your security deposit, starting at $200.
- • There are no guarantees that you will be approved. In other words, your application may be declined based on your financial profile.
Eligibility requirements check-list to apply for the Discover It® Secured Credit Card
You can seamlessly apply for the Discover It® Secured Credit Card through the official website. Here’s what you need to provide in terms of information and documents:
- You must prove that you are at least 18 years old.
- Provide your Social Security Number.
- Also, prove that you have a permanent address in the U.S.
- Present a valid and active U.S. bank account.
Treasure’s roadmap: How to apply for this secured credit card?
To get your Discover It® Secured Credit Card, the first step is to ensure you have the necessary information.
You will need to include your details right at the first stage of the application. The entire process happens on the official website.
Don’t worry—it’s straightforward. Moreover, you just need to fill out a simple application form with basic information about yourself.
No one will ask for intimate details about your personal or financial life. Just the general name, birthdate, address, annual income, etc.
Step into the ring: Discover It® Secured Credit Card versus UNITY Visa® Secured Credit Card
There are always other fish in the sea, so take a deep breath and explore another credit card option with security. The UNITY Visa® Secured Credit Card has an annual fee, but it’s worth it.
| Discover It® Secured Credit Card | UNITY Visa® Secured Credit Card |
| Low credit scores | None required |
| Purchase APR of 28.24% | Variable APR, generally around 17.99% |
| No annual fee | $39 annual fee |
| Cashback program | No rewards or welcome bonus |
The interest rates for the UNITY Visa® Secured Credit Card are lower. If you’re willing to forego a cashback program to pay less interest, consider learning more about this card.
With this in mind, research and inform yourself about this option in our comprehensive review before making any decision. Our experts know all about it. Now it’s up to you!
UNITY Visa® Secured Credit Card Review
A new and secure financial path with the UNITY Visa® Secured Credit Card. See what's essential when you apply!
You may also like
Credible Personal Loans: Find the Best Loan!
Don't get lost in the world of personal loans! Our Credible review simplifies your search and helps you score a winning deal.
Keep Reading
MoneyLion Personal Loan Review: Tailored For Your Needs
Discover the benefits and potential downsides of MoneyLion personal loans. Read our review and decide if it’s the best option for you.
Keep Reading