How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.The Discover it® Secured Credit Card is a great card if you’re new to credit or trying to repair your credit score. Unlike most cards geared toward consumers with low credit scores, the Discover it® Secured Credit Card earns cash back — and it doesn’t hit applicants with expensive fees or confusing terms. It’s also our top pick for the best credit card for bad credit and the best secured credit card.
Because the Discover it® Secured Credit Card is a secured credit card, it requires a security deposit (ranging from $200 to $2,500), which will act as your credit limit. In the event you don’t pay off what you charge to the card, Discover will use the deposit to recoup that loss. Otherwise, it works just like a regular, unsecured credit card.
| Credit Cards | Our Ratings | Minimum Security Deposit | Annual Fee | Rewards Rate | |
|---|---|---|---|---|---|
Discover it® Secured Credit Card
 Apply Now
on Discover's secure site Rates & Fees |
$200 | $0 | 1% - 2% cash back
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Apply Now
on Discover's secure site Rates & Fees |
|
Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now
on Capital One's secure site Rates & Fees |
$200 | $0 | 1.5% - 5% Cash Back
|
Apply Now
on Capital One's secure site Rates & Fees |
|
Capital One Platinum Secured Credit Card
Apply Now
on Capital One's secure site Rates & Fees |
$49 | $0 | N/A |
Apply Now
on Capital One's secure site Rates & Fees |
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U.S. Bank Altitude Go Visa Secured Card*
Review Coming Soon
|
$300 | $0 | 1X - 4X points
| Review Coming Soon |
Earns cash back on every purchase
Unlike many secured credit cards, the Discover it® Secured Credit Card offers rewards on every purchase as well as a generous welcome offer.
You’ll 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. Plus, Discover will match all the cash back you’ve earned at the end of your first year. According to our methodology, you can earn around $90.64 in rewards the first year of card membership.
Easy path to graduate to an unsecured card
After you’ve had the card for seven months, Discover will begin conducting monthly account reviews to see if you’re eligible to graduate to an unsecured card and get your security deposit refunded.
To determine your eligibility, Discover will consider your behavior across your credit cards and loans from Discover as well as other issuers or lenders.
Reports to the three major credit bureaus
With the Discover it® Secured Credit Card, your account and payment history will be reported to Equifax, Experian and TransUnion. So if you practice responsible card usage — including paying your bill on time and in full (whenever possible) each month — that behavior will help build a good credit score over time.
You can also check your credit score for free without negatively impacting your credit by using LendingTree Spring.
No annual fee
While many cards for consumers with low credit scores come with expensive annual fees and monthly maintenance fees, the Discover it® Secured Credit Card is an affordable option. It has an annual fee of $0, so as long as you pay your balance in full and on time each month, you’re not paying anything on top of your security deposit.
No penalty APR and no late fee on your first late payment
Many credit cards will increase your interest rate if you pay late. That higher rate is called a penalty APR. The Discover it® Secured Credit Card won’t do that. Also, as far as a late fee goes, there is none the first time you pay late. After that, up to $41.
Requires a security deposit
You’ll need to deposit at least $200 to open the card and secure a $200 credit limit (or more — up to $2,500 — if you want a higher line of credit). You can get the money back if you pay off the card and close the account or if Discover graduates you to an unsecured card.
But keep in mind that many unsecured credit cards for limited credit charge annual and ongoing maintenance fees that can be just as expensive as the deposit for this card. Not to mention, you’ll have to pay those fees every year as long as your account is open. With that in mind, a $200 upfront deposit may be the better way to go.
Low credit limit
The Discover it® Secured Credit Card‘s maximum credit limit is $2,500. This is on the low side compared to some secured credit cards. For example, the U.S. Bank Altitude Go Visa Secured Card lets you secure up to $5,000.
That said, a lower credit limit may be fine if you’re just trying to establish a regular payment history. However, if you need to make larger purchases, it could be limiting.
High APR
The Discover it® Secured Credit Card has a 27.24% Variable APR, which is slightly above the current average APR of around 26.63% for secured credit cards as of April 2025.
While this APR is on the higher side, it’s still lower than some comparable secured cards. For example, the Capital One Quicksilver Secured Cash Rewards Credit Card has a 29.74% (Variable) APR (see rates & fees), and the Capital One Platinum Secured Credit Card has a 29.74% (Variable) APR (see rates & fees). To avoid interest charges, make it a point to pay your balance in full each month.
The Capital One Quicksilver Secured Cash Rewards Credit Card is similar to the Discover it® Secured Credit Card because it can help build your credit while allowing you to earn rewards. You can earn 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply).
While both cards earn cash back, the Discover it® Secured Credit Card earns a higher rate on gas and restaurant purchases — which could make it a better choice if those are your top spending categories. That said, when using a secured card, remember that making payments on time and building your credit is the main goal — not earning cash back.
With the Capital One Platinum Secured Credit Card, Capital One determines your minimum security deposit after you apply. You can put down a refundable security deposit starting at $49 to get a $200 initial credit line. Because of the potential to deposit less than your actual credit limit, it could be the best option for those who aren’t able to put down the $200 required by the Discover it® Secured Credit Card. Just know that you aren’t guaranteed to be approved for the lower deposit amount.
The Capital One Platinum Secured Credit Card comes with a $0 annual fee (see rates & fees), but it doesn’t earn cash back rewards like the Discover it® Secured Credit Card. Both cards have relatively high APRs, but the Discover it® Secured Credit Card’s is lower, which is something to keep in mind if you think you might carry a balance from month to month.
If you’re looking for a higher credit limit than the Discover it® Secured Credit Card provides, the U.S. Bank Altitude Go Visa Secured Card lets you deposit between $300 and $5,000. Because your deposit will match your line of credit, you have the potential to get a $5,000 credit limit — which is one of the highest credit limits you’ll find with a secured credit card.
Additionally, the U.S. Bank Altitude Go Visa Secured Card offers more rewards categories than the Discover it® Secured Credit Card. You’ll earn 4X points on dining, takeout and restaurant delivery, 2X at grocery stores, grocery delivery, streaming services, gas stations and EV charging stations, 1X on all other purchases.
If you have limited / poor credit and want to repair it, or you’re new to credit and need a card that can help you establish a good payment history, the Discover it® Secured Credit Card could be a great fit. Along with letting you earn cash back while building credit, the card offers automatic reviews (after seven months) to see if you qualify to get your deposit refunded. This helps make the Discover it® Secured Credit Card more transparent than many competing cards.
That said, if you’re looking for a card that may offer different rewards categories, a lower minimum deposit or a higher credit limit, the Capital One Quicksilver Secured Cash Rewards Credit Card, Capital One Platinum Secured Credit Card or U.S. Bank Altitude Go Visa Secured Card may be a better choice.
Apply Now
You can apply for the Discover it® Secured Credit Card online by clicking on the “apply now” button and providing some personal and financial information. Approval can happen within minutes, and you’ll get your card in the mail within seven to 10 business days.
If your goal is to improve your credit score, the Discover it® Secured Credit Card is worth it because it comes with a $0 annual fee and no monthly maintenance fees, offers an easy path to upgrade to an unsecured card and lets you earn cash back on every purchase. Plus, it reports to all three major credit bureaus, making it a good choice for building credit.
You can check to see if you’re preapproved for the Discover it® Secured Credit Card without impacting your credit score by completing Discover’s preapproval form online. Note that there will still be a hard pull if you decide to actually apply for a card. And be aware that while preapproval indicates you’re more likely to be approved, it does not guarantee approval when you apply.
The Discover it® Secured Credit Card is designed for applicants with limited / poor credit. To apply, you’ll need to be at least 18 years old and have a Social Security number, a U.S. address and a U.S. bank account.
If you’re approved for the Discover it® Secured Credit Card, your credit limit will be equal to the amount of your security deposit. The Discover it® Secured Credit Card requires a minimum deposit of $200.
To request a credit limit increase with the Discover it® Secured Credit Card, call the number on the back of your card to speak with a customer service representative or log into your Discover online banking account using your Discover mobile app. Note that you’ll need to add the additional amount to your deposit. The maximum security deposit with the Discover it® Secured Credit Card is $2,500.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the U.S. Bank Altitude Go Visa Secured Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
