Compare it to the Discover it® Secured Credit Card
Another credit card that’s a great choice for building up your credit score is the Discover it® Secured Credit Card. A secured credit card requires a deposit that serves as your credit line and protects the issuer in case you default on payments. Generally, minimum deposits for a secured card are around $200.
Though the Discover it® Secured Credit Card requires a security deposit ranging from $200 to $2,500, you can get your deposit refunded if you pay your card off and close the account, or if Discover graduates you to an unsecured card (one that doesn’t require a deposit).
After you’ve used the card for seven months, Discover begins conducting automatic reviews to see if you quality for a deposit refund. This upgrade isn’t guaranteed, and Discover factors in your behavior across all your credit products (not just those issued by Discover). Despite that, automatic monthly reviews is a great feature.
Which card earns the most cash back depends on how frequently you spend on gas station and restaurant purchases as Discover it® Secured Credit Card cardholders can earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.
The Capital One QuicksilverOne Cash Rewards Credit Card has a higher cashback rate on all other purchases, and doesn’t have a spending limit after which it drops your earnings down to a lower rate. During the first year, though, the Discover it® Secured Credit Card wins easily due to the cashback match for new cardmembers: Discover will match all the cash back you’ve earned at the end of your first year..