How to Maximize Rewards With the Discover it Secured Credit Card
The Discover it Secured Credit Card matches rewards dollar for dollar automatically at the end of the first year if you’re a new cardholder.
Cardholders can maximize earnings with the Discover it Secured Credit Card by taking advantage of the bonus categories. Earn 2% cash back at gas stations and restaurants up to $1,000 in combined purchases each quarter.
All other purchases made with the Discover it Secured Credit Card earn a flat rate of 1% cash back with no limit.
What Are the Fees Associated with Discover it Secured Credit Card?
- Annual fee: The Discover it Secured Credit Card has no annual fee.
- Balance transfer fee: 3% of each transfer made by Sept. 10, 2021, and 5% of each transfer after that.
Comparisons With Other Secured Cards
Discover it Secured Credit Card vs.
Rewards: Cardholders of the Discover it Secured Credit Card earn 2% for every dollar in purchases at gas stations and restaurants on up to $1,000 in combined purchases per quarter, with all other purchases earning 1% cash back with no limit. Capital One Platinum Secured Credit Card holders do not earn rewards on purchases.
Sign-up bonus: The Discover it Secured Credit Card offers new cardholders an automatic dollar-for-dollar match of the cash back you’ve earned at the end of the first year with no limit. Capital One Platinum Secured Credit Card holders are not offered a sign-up bonus.
Benefits: Discover it Secured Credit Card users have free access to their FICO credit score online, as well as zero-dollar fraud liability protection and 100% U.S.-based customer service at any time. Capital One Platinum Secured Credit Card cardholders have access to emergency card services, fraud coverage and Mastercard identity theft protection.
Rewards: Discover it Secured Credit Card cardholders earn 2% cash back for every dollar spent at gas stations and restaurants up to $1,000 in combined purchases each quarter. All other purchases earn 1% cash back with no limit. SDFCU Savings Secured Visa Platinum Card holders earn one point per dollar in purchases made with the credit card without limits.
Sign-up bonus: The Discover it Secured Credit Card offers an automatic dollar-for-dollar match for the cash back earned at the end of the first year as a new cardholder. SDFCU Savings Secured Visa Platinum Card users are not offered a sign-up bonus.
Benefits: Cardholders of the Discover it Secured Credit Card have free access to their FICO credit score online, zero-dollar fraud liability protection and 100% U.S.-based customer service at any time. SDFCU Savings Secured Visa Platinum Card holders have access to card-based life and disability insurance, a 25-day grace period on purchases and a free year-end account summary when at least 100 transactions are made throughout the year.
Should You Get the Discover it Secured Credit Card?
- Want to build or rebuild your credit and can afford to make the security deposit.
- Would like to earn cash back on everyday purchases.
- Don’t want to pay an annual fee.
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