Discover it Secured Credit Card
DiscoverQuick Answer
The Discover it Secured is the best secured credit card because it actually earns rewards — 2% at gas stations and restaurants with first-year cashback match. No annual fee, $200 minimum deposit, and reports to all three bureaus for credit building.
The Discover it Secured Credit Card is the top choice for anyone building or rebuilding their credit. Unlike most secured cards that offer no rewards, this card earns 2% cashback at gas stations and restaurants on up to $1,000 in combined purchases per quarter, and 1% on everything else. Even better, Discover matches all cashback earned at the end of your first year — effectively giving you 4% on bonus categories and 2% everywhere else your first year. There is no annual fee. The card requires a refundable security deposit starting at $200 (based on your credit profile). Discover automatically reviews your account for graduation to an unsecured card starting at month seven. If you make on-time payments, you may qualify for graduation within 8-12 months. The card reports to all three major credit bureaus (Equifax, Experian, and TransUnion), helping you build a positive credit history. Discover also provides your FICO Score for free on every monthly statement. What truly sets this card apart is the rewards program. Most secured credit cards offer no rewards, making the Discover it Secured the only secured card with a meaningful earning structure. The 2% cashback at gas stations and restaurants covers many everyday purchases, and the first-year cashback match effectively doubles your earnings. The $200 minimum deposit is lower than many competitors. The main limitation is that Discover is not as widely accepted internationally as Visa or Mastercard, though domestic US acceptance is excellent.
Key Details
Key Features
- •2% cashback at gas stations and restaurants (up to $1K/qtr), 1% everywhere else
- •First-year cashback match — Discover doubles everything you earn
- •Automated account reviews for unsecured graduation starting at month 7
- •Reports to all 3 credit bureaus: Equifax, Experian, TransUnion
- •$0 annual fee with $200 minimum refundable security deposit
Pros
- +Only secured card that earns real rewards — 2% at gas stations and restaurants, 1% everywhere
- +Discover matches all your cashback at the end of Year 1 (effectively doubling it)
- +Automatic account reviews for graduation to unsecured card starting at 7 months
- +No annual fee and free FICO Score on monthly statements
Cons
- −Requires a refundable security deposit starting at $200
- −2% bonus categories capped at $1,000 in combined spending per quarter
- −Discover is not as widely accepted internationally as Visa or Mastercard
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Frequently Asked Questions
Is Discover it Secured Credit Card right for me?
The Discover it Secured is the best secured credit card because it actually earns rewards — 2% at gas stations and restaurants with first-year cashback match. No annual fee, $200 minimum deposit, and reports to all three bureaus for credit building.
What are the pros of Discover it Secured Credit Card?
Pros: Only secured card that earns real rewards — 2% at gas stations and restaurants, 1% everywhere, Discover matches all your cashback at the end of Year 1 (effectively doubling it), Automatic account reviews for graduation to unsecured card starting at 7 months.
What are the cons of Discover it Secured Credit Card?
Cons: Requires a refundable security deposit starting at $200, 2% bonus categories capped at $1,000 in combined spending per quarter, Discover is not as widely accepted internationally as Visa or Mastercard.
Reviewed by Finatune · Last updated 2026-10-23