Total VISA® Credit Card vs. Discover it® Secured Credit Card
The Discover it® Secured Credit Card is a superior choice for anyone with Poor/Limited credit, since it lacks the fees that come with the Total VISA® Credit Card, doesn’t require credit history, earns cash back on every purchase and offers an intro APR on balance transfers. But while the card has a $0 annual fee, it does require a refundable security deposit ranging from $200 to $2,500, which will equal your credit limit.
That said, your deposit isn’t gone forever. Automatic account reviews begin at seven months to see if they can graduate you to an unsecured line of credit and have your deposit returned. You can also get your deposit refunded if you pay your balance in full and close your credit card account.
The Discover it® Secured Credit Card lets you earn earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. plus earn unlimited 1% cash back on all other purchases.. Plus, Discover will match all the cash back you’ve earned at the end of your first year.
You should always pay your bill on time, but Discover makes an exception when it happens the first time. The late fee is none the first time you pay late. After that, up to $41. Additionally, you won’t be assessed a penalty APR.