Compare it to the Discover it® Secured Credit Card
If you want to build credit with the help of a secured card that offers a simpler application process, as well as a rewards program and minimal fees, the Discover it® Secured Credit Card is a good alternative.
Designed for individuals with poor/limited credit, this card requires a refundable security deposit ranging from $200 to $2,500, which will serve as your line of credit. And like the Self Visa® Credit Card, the Discover it® Secured Credit Card reports your credit usage to the three major credit bureaus, so with responsible usage, it can help you establish or rebuild your credit over time. In fact, after seven months of use, Discover conducts monthly reviews on your account to consider upgrading you to an unsecured card and refund your deposit.
Additionally, the Discover it® Secured Credit Card lets cardholders 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.
But while the Discover it® Secured Credit Card comes with a $0 annual fee, beware that it has a charges a high 28.24% Variable APR on purchases if you carry a balance on your card from month to month. There is, however, a 10.99% Intro APR for 6 months on balance transfers — which is rare for a secured card. After the intro period ends, a 28.24% Variable APR applies.
Additionally, unlike the Self Visa® Credit Card, the Discover it® Secured Credit Card can be used to make purchases outside of the U.S.