July 4, 2022
Discover it secured card illustration

Discover it secured card review

Discover IT Secured Card: A Complete Review

Find it Secured credit cards are the best secured credit cards on the market today. This review will tell you all the pros and cons of having this card and how to apply for it. This is arguably one of the best cards available for people with low credit. This is mainly due to a good compensation program and the absence of annual fees or application fees.

The secure version of this card is exactly the same as the Discover Chrome card. The only difference is that you have to pay a deposit for this version. Unlike some other secure cards, this deposit does not generate interest. The biggest advantage of this card is the fact that it has a very good reward program. Earn 1% on all purchases and 2% cashback on gas and restaurants ($ 1,000 per quarter limit). There is also a sign-up bonus that doubles your rewards in the first year. Most secure cards do not have a rewards program, which is by far the best program on offer. For those looking to rebuild their credit score, this card has another great benefit. It comes with a free FICO score so you can easily track your progress. This is the preferred method over free credit monitoring websites because it provides the actual FICO score that the lender is looking at, rather than the FAKO score, which the lender does not use. This card is great for people with no or bad credit history who want to improve their credit score while earning rewards. It’s easy to see why it’s one of the safest and most popular cards for consumers.

Rewards Program for Discover IT Secured Card

As mentioned, the rewards program offered by this card is currently the best rewards program offered by Secure Card. Receive a fixed 1% cashback on all purchases and 2% credits at gas stations and restaurants ($1,000 quarterly spending limit).

Facts About Discover IT Secured Card

  • Reports to all three credit bureaus
  • Reports as a secured card
  • Can graduate to an unsecured card after only 7 months
  • Security deposit does not earn interest
  • No annual or sign up fees
  • Rewards program earns between 1-2% cash back (doubled first year)

Advantages of Discover IT Secured Card

  • The Discover It Secured Credit Card can offer the opportunity to build and improve a person’s credit history.
  • There is no annual fee for the credit card.
  • You can earn cash back on every purchase at a minimum rewards rate of 1%.

Disadvantages of Discover IT Secured Card

  • You have to pay a minimum deposit of $200 for this credit card.
  • There are no 0% APR intro offers.
  • Your line of credit equals your security deposit amount, which means the line of credit could be as low as $200.
  • This card has a variable APR, meaning it could change after you open your account.

Conclusion on Discover IT Secured Card Review

The Discover it Secured credit card is a good card for some people, but not for everyone. It is mainly aimed at people who have no credit history or who have a bad credit history. Discover requires a security deposit to be used as collateral for this card, which is not required for traditional unsecured cards.
This card can be a valuable asset for those who need help establishing a credit history. It also offers some of the benefits you might expect from unsecured cards, such as rewards programs. It also allows you to upgrade to an insecure card after you’ve accumulated enough credit history.
That said, if you already have a good credit history, there are other cards to consider. Fortunately, Discover offers a number of traditional insecure credit cards that require no deposit, most of which have advantages over Discover Secured cards. You can verify your eligibility card by visiting the Discover website and viewing items that can be pre-verified.

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