Discover it® Secured Credit Card full review
Introducing the Discover it ® Secured Credit Card, which eliminates the annual fee and additionally offers rewards!
Discover it ® Secured Credit Card: Everything You Need to Know
If you’re looking for a fresh start to your financial life without being burdened by exorbitant fees, the Discover it ® Secured Credit Card is perfect for you. This card does not require a perfect credit history, making it ideal for those looking for a fresh start.
In this article, we will explore the benefits of the Discover it ® Secured Credit Card and provide a step-by-step guide on how to acquire this incredible card.
Fees and Rates
Unlike many other credit cards, the Discover it ® Secured Credit Card does not charge an annual fee. The variable APR is competitive, currently set at 25.99%.
For balance transfers, the introductory APR is 10.99% for the first six months after opening your account. After the introductory period, the ongoing APR becomes a variable 25.99%.
To obtain the Discover it ® Secured Credit Card, a secure deposit is required. This deposit can be refunded and must be a minimum of $200 USD and a maximum of $1,000 USD. The deposit amount determines your initial credit limit, but you can increase your limit over time.
With its low fees and competitive rates, the Discover it ® Secured Credit Card stands out among other credit cards by offering its holders a chance to achieve financial success.
Furthermore, this card reports your account activity to the three major credit bureaus in the United States: TransUnion, Equifax, and Experian.
New Holder Bonus
As a new holder of the Discover it ® Secured Credit Card, you will receive a bonus. At the end of the first year, all cashback earned during that period will be doubled and delivered to you. This bonus is in addition to the regular cashback rewards you earn throughout the year.
If you want to learn more about the cashback system offered by the Discover it ® Secured Credit Card, check out our article.
How Does the Discover it ® Secured Credit Card Work?
The Discover it ® Secured Credit Card is designed for individuals looking to establish or rebuild their credit history. When applying for this card, you need to provide a secure deposit. After seven months of responsible card usage, Discover automatically reviews your account, and you may be eligible for an unsecured card where you can get your deposit back.
By consistently paying your credit card bills on time and managing your account responsibly, you have the opportunity to improve your credit card status. Additionally, your account activity will be reported to the three major credit bureaus.
Earning points is another perk of the Discover it ® Secured Credit Card. Different categories of eligible purchases offer varying amounts of cashback, which we will explain further below.
Benefits of the Discover it ® Secured Credit Card
One of the significant advantages of the Discover it ® Secured Credit Card is the absence of an annual fee. This is a relief for many cardholders who often have to deal with this extra cost.
Another benefit is the cashback rewards program. When you use your Discover it ® Secured Credit Card at gas stations and restaurants, you earn 2% cashback on up to $1,000 USD in combined purchases each quarter. All other purchases automatically earn 1% cashback. Additionally, the initial bonus doubles the cashback you earn during the first year.
How to Apply for the Discover it ® Secured Credit Card
If you’re interested in acquiring the Discover it ® Secured Credit Card, click the button below for a fast and simple application process.
