Discover it® Secured 2021 Review

Top perks

No annual fee

Many credit cards for bad credit have annual fees that make improving credit more expensive than it needs to be. The Discover it® Secured Credit Card doesn’t have an annual fee.

Up to 2% back

It’s almost unheard of to get cash back from a secured credit card, but the Discover it® Secured Credit Card offers 2% cash back on the first $1,000 of spending at gas stations and restaurants each quarter. In addition, the card offers 1% cash back on all other spending.

Unlimited Cashback Match sign-up bonus

Sign-up bonuses are another one of those perks that secured credit cards practically never have. But Discover breaks the mold again here and will automatically match all the cash back you’ve earned at the end of your first year. This sign-up bonus is only available during the first year and for new cardholders, but it can be particularly lucrative since the match is unlimited. For example, if you earned $250 back during the sign-up bonus period, Discover will kick in another $250.

FICO® Score for free

Discover provides you with an up-to-date FICO® Score. By having this credit score available, you can monitor your progress in building your credit.

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Graduate to an unsecured card

One of the biggest perks of the Discover it® Secured Credit Card is that it can convert into a traditional unsecured Discover credit card. After as few as eight months of on-time payments, you may be eligible to have your security deposit returned, thus turning your secured card into an unsecured credit card.

No foreign transaction fee

Quite a few cards tack on a 3% foreign transaction fee for international purchases, but the Discover it® Secured Credit Card isn’t one of them.

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