The Discover it® Secured Credit Card is the benchmark against which every other secured card is measured. In a category full of cards that charge high annual fees for the privilege of building credit, Discover offers a genuinely rewarding product: 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases per quarter) and 1% cash back on everything else — all with a $0 annual fee.
More importantly, Discover is one of the only issuers that has a clearly defined, automatic path from secured to unsecured. Starting at 7 months, Discover reviews your account. If you've been paying on time and managing your balance responsibly, they'll upgrade you to an unsecured card and return your security deposit in full. No application required.
Discover it® Secured Credit Card
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Rates, Fees & Key Terms
| Feature | Details |
|---|---|
| Annual Fee | $0 |
| Security Deposit | $200 – $2,500 (becomes your credit limit) |
| Purchase APR | 28.24% Variable |
| Cash Back — Gas & Restaurants | 2% (up to $1,000/quarter combined) |
| Cash Back — Everything Else | 1% unlimited |
| First-Year Bonus | Discover matches ALL cash back earned in year 1 (Cashback Match™) |
| Foreign Transaction Fee | None |
| Credit Bureau Reporting | All three (Experian, Equifax, TransUnion) |
| Upgrade Review | Automatic starting at 7 months |
Who Should Get the Discover it Secured Card?
This card is the right choice for almost anyone starting their credit-building journey. It's particularly well-suited for:
- First-time credit card applicants with no credit history who want to earn rewards while building credit
- People rebuilding after financial hardship who want a clear, automatic path to an unsecured card
- Students and young adults who drive regularly or eat out — the 2% category covers real spending habits
- Anyone who wants their deposit back — Discover's upgrade program is more transparent than most competitors
✓ Pros
- $0 annual fee — no cost to build credit
- 2% cash back at gas & restaurants
- Cashback Match doubles your first year earnings
- Automatic upgrade review at 7 months
- No foreign transaction fees
- Free FICO score on every statement
✗ Cons
- Discover not accepted everywhere internationally
- 2% category capped at $1,000/quarter
- 28.24% APR is high — pay in full every month
- Minimum $200 deposit required upfront
How the Cashback Match Works
At the end of your first 12 months, Discover automatically matches every dollar of cash back you earned — with no limit. If you earned $150 in cash back, Discover gives you another $150, bringing your total to $300. This effectively doubles the value of the card in year one and makes it one of the most rewarding secured cards available, despite the $0 annual fee.
Discover it® Secured — Apply in Minutes
Discover it Secured vs. Competitors
| Card | Annual Fee | Cash Back |  Upgrade Path |
|---|---|---|---|
| Discover it® Secured | $0 | 2% gas/restaurants, 1% other | Automatic at 7 months |
| Capital One Platinum Secured | $0 | None | Manual review at 6 months |
| OpenSky® Secured Visa® | $35 | None | No automatic path |
| Citi® Secured Mastercard® | $0 | None | Manual review |
| Self Visa® Credit Card | $25 | None | Linked to Credit Builder loan |
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Frequently Asked Questions
Does the Discover it Secured card have an annual fee?
When does Discover review your account for an upgrade to unsecured?
What credit score do you need for the Discover it Secured card?
Does the Discover it Secured card report to all three credit bureaus?
What is the minimum security deposit for the Discover it Secured card?
Sources & Methodology
WiseIQ's editorial team researches and fact-checks all content using primary sources. Our recommendations are based on independent analysis and are not influenced by advertiser relationships.
- Consumer Financial Protection Bureau (CFPB)
- Federal Reserve — Consumer Credit Report (G.19)
- myFICO Credit Education
- Issuer and lender websites — rates, terms, and eligibility verified directly from source
Last reviewed: April 3, 2026 | How we rank products