Discover It Secured Card – How to Apply, Requirements, Fees, APR

The Discover It Secured Card is a standout option for individuals looking to establish or rebuild their credit history.

Unlike traditional secured credit cards, it offers cashback rewards, no annual fees, and a seamless pathway to transitioning into an unsecured card.

This card is designed to provide both financial growth and practical rewards, making it ideal for those who are just starting their credit journey or recovering from financial challenges.

Let’s dive deeper into its features, benefits, and how you can apply to start building a brighter financial future.

How to Apply for the Discover It Secured Card

Applying for the Discover It Secured Card is a straightforward process, but it’s important to understand each step to ensure a smooth application experience:

1. Visit the Official Discover Website

The first step is to navigate to the Discover website.

Look for the secured cards section, which will highlight the Discover It Secured Card.

This ensures you’re applying through the official and secure channel, avoiding any risks associated with third-party sites.

2. Select the Discover It Secured Card

Once on the secured cards page, explore the Discover It Secured Card’s features and benefits.

Take the time to understand its offerings, as this card stands out due to its rewards program, which is rare for secured cards.

3. Complete the Online Application Form

The application will require basic personal and financial information, including your name, address, Social Security Number, and income details.

This information helps Discover assess your eligibility and determine your ability to make payments.

4. Submit Your Security Deposit

The security deposit is a key part of the application process. It serves as your credit line, with a minimum deposit of $200.

This amount is fully refundable if you close your account in good standing or transition to an unsecured card.

5. Review and Submit Your Application

Before submitting, carefully review all the details entered. Ensure accuracy to prevent delays or rejections.

Accept the terms and conditions, and then proceed to submit your application.

Discover typically processes applications within 7–10 business days.

By following these steps, you’ll be well on your way to obtaining a credit card that not only supports your financial goals but also rewards you for your everyday spending.

Requirements to Apply

To qualify for the Discover It Secured Card, applicants must meet specific criteria to ensure responsible use of the card. These requirements include:

1. Age: Applicants must be at least 18 years old, or 19 in states where the age of majority is higher. This ensures compliance with federal laws regarding credit card issuance.
2. Residency Status: You must be a U.S. resident or have a valid Social Security Number. This is required for credit reporting and verification purposes.
3. Proof of Income: A stable income is necessary to demonstrate your ability to make timely payments. Discover evaluates this to ensure you can handle the financial responsibility of the card.
4. Bank Account for Security Deposit: Since the card requires a refundable security deposit, you need a valid checking or savings account to fund it.

Meeting these requirements ensures a smoother application process, as Discover uses these criteria to assess eligibility and minimize risk.

Benefits of the Discover It Secured Card

The Discover It Secured Card is not just a tool for building credit; it offers several unique benefits that set it apart from other secured cards:

Cashback Rewards

• Earn 2% cashback at gas stations and restaurants on up to $1,000 in combined purchases each quarter. This is ideal for everyday spending and ensures you get rewarded for frequent transactions.
• Earn unlimited 1% cashback on all other purchases, providing consistent rewards regardless of how you use the card.

Cashback Match

At the end of your first year, Discover automatically matches all the cashback you’ve earned, doubling your rewards.

This means if you earn $150 in cashback, Discover will give you another $150.

No Annual Fee

Many secured cards charge an annual fee, which can add up over time.

The Discover It Secured Card has no annual fee, making it a cost-effective option for building credit.

Credit Reporting

Payments are reported to all three major credit bureaus (Experian, TransUnion, and Equifax).

This is critical for establishing or improving your credit score, as timely payments and low credit utilization directly impact your credit profile.

Upgrade Path

After consistent on-time payments and responsible usage, you may be eligible to transition to an unsecured Discover card.

This allows you to continue building your credit without the need for a security deposit.

These benefits make the Discover It Secured Card a valuable financial tool for those who want to grow their credit while enjoying real rewards.

Fees, Annual Percentage Rate (APR), and Interest

Understanding the costs associated with any credit card is essential to avoid surprises.

The Discover It Secured Card offers transparent terms that are favorable for new credit users:

• Annual Fee: $0. There are no hidden costs or recurring charges, allowing you to focus on building credit without worrying about additional fees.
• Purchase APR: A variable rate of 27.24%. While this rate is high, it’s standard for secured cards. To avoid paying interest, aim to pay off your balance in full each month.
• Security Deposit: Starts at $200 and determines your credit limit. You can increase your limit by depositing more, up to the maximum allowed by Discover.
• Foreign Transaction Fees: None. This makes the card a good option for international purchases, provided Discover is accepted in your destination.

These terms make the card accessible while encouraging responsible credit management.

Network and Coverage

The Discover It Secured Card operates on the Discover network, which is widely accepted across the United States.

While Discover is not as globally recognized as Visa or Mastercard, it is increasingly accepted in many international locations.

Always check Discover’s acceptance in your intended destinations when traveling abroad.

How to Check Your Statement

Managing your account is easy with Discover’s user-friendly tools. To check your statement:

1. Log In to Your Discover Account: Access your account through the Discover website or mobile app. Both platforms offer secure login options.
2. Navigate to the Card Section: Select the Discover It Secured Card from your account dashboard to view details specific to this card.
3. View and Download Statements: You can view current and past statements. Statements can also be downloaded as PDFs for your records or printed for offline access.

This accessibility ensures you’re always informed about your spending and rewards.

How to Activate the Discover It Secured Card

Activating your card is quick and simple:

1. Call the Activation Number: Use the phone number printed on the sticker attached to your card. Follow the automated instructions to complete activation.
2. Use the Discover Mobile App: Log in, select your card, and follow the app’s instructions for activation.
3. Activate Online: Log in to your account on the Discover website, navigate to the activation section, and enter the required information.

These options provide flexibility and convenience, allowing you to start using your card without delay.

Contact Information

For questions or assistance, Discover offers multiple contact options:

• Phone: Call 1-800-DISCOVER (1-800-347-2683) for customer service.
• Online Chat: Available through your online account or the Discover website.
• Mail: Refer to the mailing address provided on your statements for written correspondence.

Discover’s customer support is known for being responsive and helpful, ensuring you have the guidance you need.

The Discover It Secured Card is a comprehensive tool for building credit while enjoying cashback rewards.

With no annual fee, a clear upgrade path, and excellent customer support, this card stands out as an ideal choice for individuals seeking financial growth.

Apply today and take control of your credit journey with confidence!