November 14, 2024
Earn cash back while building your credit history #CashNews.co

Earn cash back while building your credit history #CashNews.co

Cash News

The Discover it® Secured credit card doesn’t require a credit score to apply. In fact, it helps build up your credit score by offering cardholders cash-back rewards as an incentive for responsible credit behavior.

There’s a 10.99% intro APR for 6 months from the date of your first transfer. After that, it’s 28.24%.

APR for cash advances is 29.99%. There’s no penalty APR.

There’s no annual fee to apply for or use the Discover It Secured Credit Card.

Read more: How to apply for a credit card

You can enjoy a 10.99% introductory APR on balance transfers for the first 6 months from when you make your first transfer.

There’s also an unlimited 2x cash back, dollar-for-dollar match on all your earned cash back for the first year.

The Discover It Secured Credit Card offers decent rewards, especially for a secured card:

  • 2% cash back at gas stations and restaurants, up to $1,000 in combined purchases every quarter

  • 1% unlimited cash back on all other purchases

  • 2x unlimited cash back, dollar-for-dollar match of all your earned cash back at the end of the first year

You can earn the 2% cash back rewards when you shop at gas stations and restaurants. You can use your card anywhere Discover is accepted to earn another 1% cash back on everything else. Discover is accepted at 99% of merchants nationwide.

You can redeem your rewards a few different ways, including:

  • Free access to your FICO credit score, updated monthly

  • Reports to the major credit bureaus

  • $0 fraud liability guarantee, ensuring that you don’t have to pay for unauthorized purchases

  • Free overnight card replacement

  • Fraudulent activity checks and online privacy protection

  • Free alerts to let you know if your Social Security Number is used on the Dark Web

The Discover It Secured Credit Card is best for people with no credit history who are looking to build and prove responsible creditworthiness.

If you don’t qualify for a traditional credit card and need a secured card to start your credit journey, the Discover It Secured Credit Card is a fantastic option.

For those who qualify for traditional credit cards, you may want to skip the Discover It Secured Credit Card.

Related: How to use credit cards to build your credit score

  • Cash-back rewards

  • No annual fee

  • Free overnight card replacement

  • Reports to the major credit bureaus

  • No hard credit check for pre-approval

  • Refundable deposit once upgraded to an unsecured card

You can use the Discover It Secured Credit Card wherever Discover is accepted, which is about 99% of merchants across the U.S.

  • Online: You can make payments on your Discover It Secured Credit Card online or through the mobile app.

  • Phone: To make a payment over the phone, call the number on the back of your card or 1-800-347-2683.

  • By mail: Where you mail your payment depends on your current address. There are four payment addresses throughout the U.S. so make sure your payment is received at the right location by checking your most recent bank statement.

Discover has live agents available 24/7 over the phone by calling 1-800-347-2683. You can also message a U.S.-based agent, which is also available 24/7.

To reach Discover through the mail, you can send general inquiries to

Discover Financial Services

P.O. Box 30943

Salt Lake City, UT 84130-0943

You might find more specialized contact information based on your location and needs by logging into your Discover account.

Check out the options below, and review our list of the best secured cards of 2024.

  • Annual fee

    $0

  • Welcome offer

    None

  • Card type(s)

    Secured, Cash-back

  • Purchase APR

    29.99% variable

  • Introductory APR

    N/A

  • Recommended credit score

    Excellent, Good

  • Rewards rate

    • 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
    • 1.5% unlimited cash back on every purchase, everywhere
  • Benefits

    • No annual or hidden fees; see if you’re approved in seconds
    • Earn back your $200 security deposit as a statement credit when you follow card best use practices, such as making payments on time
    • Be automatically considered for a higher credit in six months with no additional deposit

Related: Secured vs. unsecured credit cards: What’s the difference?

This article was edited by Rebecca McCracken


Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.

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