The Discover it® Secured Credit Card offers a smart entry point if you’re looking to build or rebuild your credit profile. The card has no annual fee and provides a refundable security deposit starting at $200, which directly determines your credit line. Its ongoing APR is 26.49% variable, and you’ll benefit from cashback rewards—2% back at gas stations and restaurants (up to $1,000 per quarter), plus 1% on other purchases. After seven months, your account is automatically reviewed for a potential upgrade to an unsecured card and a full deposit refund.

How to Apply

To apply for the Discover it® Secured Card, first check your eligibility. No credit score is required, but you must provide personal and U.S. banking details. After approval, make your deposit online to set your credit limit. You’ll receive the card and can start using it right away for everyday purchases, establishing your payment history.

Key Advantages

A major benefit is the lack of an annual fee, helping you save as you build credit. Cashback rewards are another highlight, with 2% at key spending categories and unlimited 1% elsewhere—plus all cash back earned is matched at the end of your first year.

A Few Downsides

There are some potential drawbacks. The card has a relatively high ongoing APR, meaning it’s best used by those who can pay in full each month. In addition, you’ll need to tie up a minimum of $200 as a security deposit, which could be limiting for some.

Verdict

The Discover it® Secured Card stands out as a top option if your main goals are rebuilding credit and earning rewards. With no annual fee and the opportunity for deposit refunds, it’s a compelling, reliable choice for credit newcomers or those recovering from setbacks.