Is the Discover It Secured Worth It? An Unfiltered Review
Imagine you’re trying to build or rebuild your credit, and you want a card that rewards you for your purchases while helping manage your finances. Discover it Secured is designed for exactly that purpose, offering cash back on everyday expenses while reporting to major credit bureaus.
| Feature | Details |
|---|---|
| Annual Fee | $0 |
| APR | 27.49% Variable |
| Security Deposit | $200 minimum |
| Credit Bureau Reporting | Yes, to all three major bureaus |
| Cash Back | 2% at gas stations and restaurants, 1% on all other purchases |
| Intro Offer | Cashback Match in the first year |
Best for: Those looking to build or rebuild credit with rewards.
Skip if: You need a card with a lower interest rate or no security deposit.
Performance
Using the Discover it Secured card is straightforward and rewarding. You earn 2% cash back at gas stations and restaurants up to the quarterly maximum, and 1% on all other purchases. The real kicker is the Cashback Match at the end of your first year, doubling all the cash back you’ve earned without any additional effort. If you consistently use your card for everyday purchases, these rewards can add up significantly, especially when maximizing the quarterly categories.
Design & Build
The card itself is robust with a sleek design, typical of Discover products. It doesn’t scream “secured,” which is great for maintaining a low profile. The online and mobile platforms are intuitive, making it easy to track spending, pay bills, and check your rewards balance. Discover’s customer service, which is highly rated, provides peace of mind with 24/7 access. The card also comes with freeze features, allowing you to pause your account if it’s misplaced.
Value for Money
With no annual fee, the Discover it Secured card already stands out among secured cards. The variable APR is on the higher side, typical for secured cards, but paying your balance in full each month negates interest charges. The card’s ability to graduate to an unsecured card after consistent use and payments is a significant value-add, as it can help you continue building credit without needing to apply for a new card. The Cashback Match program amplifies its value in the first year.
Credit Building Potential
One of the strongest features of the Discover it Secured card is the credit-building potential. It reports to all three major credit bureaus, which means your responsible usage is noticed. I’ve seen my credit score improve steadily over months of regular use and on-time payments. The transition to an unsecured card, which Discover reviews after eight months, offers a seamless path to further credit growth without a hard inquiry.
✅ What We Like
- No annual fee.
- Cashback Match in the first year.
- Reports to all three major credit bureaus.
- High-quality customer service.
❌ What Could Be Better
- High APR of 27.49% variable.
- Requires a security deposit.
- Limited high cash back categories.
One aspect often overlooked is the potential to graduate to an unsecured card. This feature is crucial as it can save you from applying for a new card and potentially facing a hard inquiry. Plus, you get your deposit back, which is a win!
Should You Buy the Discover it Secured?
If you’re committed to improving your credit score and want to earn rewards while doing so, the Discover it Secured card is an excellent choice. It’s best for those who can manage their spending and pay off balances monthly to avoid interest charges. With its Cashback Match and no annual fee, it offers substantial value. However, if you’re unable to provide a security deposit or need a lower interest rate, you might need to explore other options.
Is the Discover it Secured Card compatible with digital wallets?
Yes, the Discover it Secured card can be added to most major digital wallets, including Apple Pay, Google Pay, and Samsung Pay.
How long does it take to transition to an unsecured card?
Discover reviews your account after eight months of responsible use and on-time payments to consider upgrading to an unsecured card.
How does the Discover it Secured card compare to Capital One Secured?
While both cards are popular for building credit, Discover offers the Cashback Match and reports to all three credit bureaus, whereas Capital One reports to two and has no rewards program.
What is the warranty on the Discover it Secured card?
Discover cards do not have a warranty period, but they offer fraud protection and freeze features for security.
