Is There a Discover Secured Credit Card?

Posted by CreditCardGuru

Q: I’m in the process of rebuilding my credit and was wondering if Discover has a secured card offer available?

Discover NetworkA: I find that a lot of people are shocked to learn just how difficult it can be to qualify for a Discover. On average, their credit qualifications are probably stricter than any other card issuer.

In fact, based on all the forum feedback I have gathered over the years, I believe it’s much easier to get approved for an entry-level American Express card like the Gold Delta SkyMiles card versus the Discover It (their most popular card). At the very minimum, you typically need a FICO score of at least 700 to maybe qualify.

So if your credit history isn’t up to par, can you apply for a secured Discover credit card? While Discover does offer secured cards, you can’t apply for one directly. You need to fill out an application for one of its consumer cards (the Discover it, or the Discover it chrome). Then, if you don’t qualify, you may be given an offer for a secured card.

If you have bad/fair credit here are your 3 best alternatives:

Option A: Attention college students!

If you are looking for secured cards because you worry that your status as a student will prevent you from getting a regular card, consider a different route: applying for a student card.

If you’re in college, your best bet is to try this one.

Option B: Get a secured card from another bank

There are plenty of other reputable financial institutions that issue secured cards that you can apply for directly. You can check out a list of them here. One of my favorites is the Capital One Secured MasterCard.

Of course you have to have realistic expectations when getting a secured card. You probably aren’t going to get rewards nor any benefits that will make you jump for joy. Really this category of cards should just be viewed as a stepping stone to building your credit… so you can get something better.

Option C: Prepaid cards (drawback = they don’t build credit)

Yep, there are third-party Discover prepaid cards but the fees are up there and the benefits are bareboned.

Also check out the prepaid card from American Express, a CreditCardForum advertising partner. It has a straight-forward fee system.

This article was last updated August 29, 2014.


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16 comments... read them below or add your own

  1. Nelly July 8, 2014 at 11:43PM

    I also applied for the Discover card and was also denied but they offered me a secured card. Just received it couple days ago and looks just like a regular Discover it card. Comes in a fancy envelop directly from Discover NOT a third company. I called Discover and they told me that it does graduate after 1yr with keep your payments on time. Im soo Happy for this card. No anual fee,Free credit score. what else can i ask for. i hope to inprove my credit score soon. Thank you Discover.

    • jenna erickson August 9, 2014 at 3:18PM

      wondering what the deposit is for a discover secured card??

    • Jennifer December 6, 2014 at 8:28PM

      Did you get the offer in the mail? Or on screen, right away after the denial for the unsecured card? I applied for the unsecured It card and didn’t get any counter for the secured. Just wondering if it might come in the mail??

  2. Matt July 3, 2014 at 5:01PM

    I was offered the Discover IT secured card, this is not available to everyone though. They are still selective on who they secured to as well. You still can not apply directly for it. You have to apply for the regular unsecured card and if your denied you may get lucky and be offered the secured card. The card can graduate to a unsecured card, it also reports on your credit as a regular card and not as a secured card!!!!

  3. Paul April 26, 2014 at 6:13AM

    Capital One Secured credit card denied me even after trying to put up 300 dollars. Why have a secured card without accepting people with a security deposit. Yes I realize my score is piss poor (460) but come on how do I fix this. With my tax return I knocked out 4/5 bills and now I need help getting back on my feet. But USAA issued me a secured card at 250.00 credit so i’m happy and no longer need Capital One.

  4. Dee March 3, 2014 at 4:27PM

    I was approved for the Discover It secured card after being denied for the regular one. I put in a deposit of $200 and should be getting it in the major within the next few days. I’m really excited to be getting it and hope sometime down the road Discover will allow it to graduate.

  5. Blair February 28, 2014 at 7:26PM

    How is the It secured card working for you? I just got approved….hopefully I can graduate to an unsecured one.

  6. DF February 7, 2014 at 1:30AM

    The reality is that Discover actually has a secured IT card and it is on the Discover network with the same cash back as a regular card. It is simply secured.

  7. Shun December 29, 2013 at 2:01PM

    Discover does have a secured card. It’s called “Discover It Secured Card” I was approved for it a few days ago. The APR 22.99 and there is NO ANNUAL FEE (none, zip, zilch, zero!) and they will even waive the late fee (only the first time your late). The minimum deposit is $200.

  8. Kelly December 12, 2013 at 5:18AM

    I applied for the discover it and was given an opt of secured discover it card and took it, it just came in te mail …. Looks just like a ref discover it card.

  9. DVD December 7, 2013 at 6:45PM

    Discover does have a secured card. ITs new and in its pilot stages. You cannot apply directly for the card though. You have to apply for a regular Discover and if you are denied you may be offered a Secured Card. Some Facts on the new secured Discover Card:

    Lines range from 200-2500
    Interest and fees are the same as an unsecured card
    It does not graduate
    You have to apply for the an unsecured card first.

    • Aaron January 29, 2014 at 9:24PM

      Discover may offer a secured card if you are declined for a regular Discover card. It is new but seems to be starting out well. There are no fees associated with it just the secured amount. As you prove your self using it you may be able to graduate from it. This simply means you get your deposit back, not another card. The Discover IT secured card is the same rewards benefits, and looks as the the normal Discover IT card. The ONLY difference is the secured amount.

  10. andre November 20, 2013 at 7:03PM

    you might want check again, but discover just offered me a it secured card directly from them.

  11. Susana Arrellano October 23, 2012 at 3:06PM

    I would love to get a secured discover credit card

  12. ShawnM October 7, 2012 at 2:45PM

    I just got approved 10/7/2012 for a partially secured Discover card. Granted the limit is only $300, its a start. They have two: The Matrix Discover and the Continental Discover credit card.

    • Mike November 16, 2012 at 3:31AM

      Its not really a Discover card, it’s just using the Discover card network. You actually got approved from another bank.

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