Is There a Discover Secured Credit Card In 2013?

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? Nope! Unfortunately they’ve never offered a secured account option directly. However you can apply for one through a third-party bank… Continental Bank offers the “Matrix” secured card which operates over the Discover network (but it’s NOT issued or managed by Discover, so it’s not truly one of their cards). But I would advise against the Matrix because it has an outrageous $75 annual fee.

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

Option A: Attention college students!

Even though Discover doesn’t have secured credit cards, they do have student accounts which are relatively easy to get approved for.

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

Option B: Get a secured card from another bank

Even though you have to cross Discover off your list, there are still plenty of other reputable financial institutions which issue secured cards. You can check out a list of them here. Below is my favorite one:Of course you have to have realistic expectations when getting one. 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. I wouldn’t recommend them.

If you insist on going this route, check out the prepaid card from American Express. It is definitely the most logical choice for the prepaid niche.

Best Option: Try this tool to see what you pre-qualify for


This article was written or last updated October 17, 2013.

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

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

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

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

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

    I would love to get a secured discover credit card

  9. 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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