Discover it® Secured Card Review
The gold standard for secured credit cards. Cash back rewards, no annual fee, and a clear path to graduation.
⭐ Our Verdict: Best Overall Secured Card
The Discover it Secured is the best secured card for most people. It's the only secured card offering real cash back rewards, has no annual fee, and Discover actually wants you to graduate — reviewing your account automatically at 7 months.
How It Works
Like all secured cards, you provide a refundable security deposit that becomes your credit limit:
- Minimum deposit: $200
- Maximum deposit: $2,500
- Credit limit: Equals your deposit
- Deposit refund: Returned when you graduate or close in good standing
Discover reports to all three credit bureaus (Equifax, Experian, TransUnion) as a regular credit card — not as a "secured" card. Future creditors can't tell it started secured.
Rewards That Actually Matter
Most secured cards offer nothing. Discover it Secured offers real rewards:
- 2% cash back at gas stations and restaurants (on up to $1,000/quarter, then 1%)
- 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. No other secured card offers anything close.
The Graduation Path
Discover automatically reviews your account starting at 7 months. If you've:
- Made all payments on time
- Kept utilization reasonable
- Had no returned payments
...you'll likely be upgraded to the Discover it® Cash Back (unsecured) and your deposit will be refunded.
💡 Graduation Timeline
Most responsible users graduate within 7-12 months. Some take up to 14 months. Discover doesn't publish exact criteria, but on-time payments and low utilization are key.
Pros and Cons
✓ Pros
- No annual fee — ever
- Real cash back rewards (rare for secured)
- Cashback Match doubles first year earnings
- Automatic graduation review at 7 months
- Reports to all 3 bureaus
- Free FICO score access
- No foreign transaction fees
- $0 fraud liability
✗ Cons
- Requires credit check (may be denied)
- $200 minimum 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 meet the $200 deposit
✗ Look Elsewhere If
- • Can't afford $200 deposit — try Chime (no deposit)
- • Currently in active bankruptcy — try OpenSky (no credit check)
- • Need Visa/Mastercard acceptance — try Capital One Platinum Secured
Discover it Secured vs. Alternatives
| Feature | Discover it Secured | Capital One Platinum | OpenSky |
|---|---|---|---|
| Annual fee | $0 | $0 | $35 |
| Rewards | 2% gas/dining, 1% other | None | None |
| Credit check | Yes | Yes | No |
| Min deposit | $200 | $49-200 | $200 |
| Network | Discover | Mastercard | Visa |
| Graduation | Auto at 7 mo | ~6 months | No clear path |
How to Apply
- Check pre-qualification — discover.com/credit-cards/secured (soft pull)
- Apply online — Takes 5-10 minutes
- 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:
- Only secured card with real cash back rewards
- No annual fee
- Clear, automatic graduation path
- Cashback Match doubles your first year rewards
If you can get approved and have $200 for the 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.