Discover It Secured Card Relaunches With Rewards and Lower Deposit Requirement | Credit Cards
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The Discover it Secured Cash Back Credit Card is back on the market after applications were paused over the summer. The card relaunched with new features, including a refundable deposit as low as $49 and 5% cash back on everyday purchases in different categories each quarter.
At a Glance
- The Discover it Secured Cash Back Credit Card has refundable deposits of $49, $99 or $200, depending on your creditworthiness.
- The card has no annual fee, no minimum credit score requirements and offers an unlimited cash back match.
- Cardholders can earn 5% cash back in specific categories each quarter, up to the quarterly maximum when they activate. Plus, earn 1% cash back on all other purchases.
Features of the Relaunched Discover it Secured Cash Back Credit Card
Discover, which was acquired by Capital One in 2025, has relaunched the Discover it Secured Cash Back Credit Card with new perks for cardholders.
- Lower deposit minimums: The Discover it Secured Cash Back Credit Card now has a minimum refundable deposit of $49 with a credit limit starting at $200. However, whether you qualify or not depends on your creditworthiness. Before, the minimum deposit was $200 to get a $200 credit limit.
- Higher cash back percentage: The revamped Discover it Secured Cash Back Credit Card now offers cardholders 5% cash back in specific categories every quarter. To qualify, cardholders must activate the bonus first. The 5% applies to up to $1,500 in purchases in eligible categories. You also earn 5% cash back on purchases booked through Capital One Travel and Capital One Entertainment. For other purchases, cardholders can earn up to 1% cash back. Previously, this card offered 2% cash back at restaurants and gas stations up to $1,000 per quarter.
- Unlimited cashback match: One of the most appealing things about the Discover it Secured Cash Back Credit Card is the unlimited cash back match. During your first year as a cardholder, Discover will match any cash back you earn on a dollar-for-dollar basis without any caps.
- Pay deposit over time: Cardholders can pay the deposit over time within 35 days. Deposits must be a minimum of $20.
- Credit limits: The minimum credit limit with a refundable deposit is $200. Assigned upon approval, your maximum limit depends on your creditworthiness and starts from $1,000 up to $3,000. But it’s important to note that to increase your initial credit line, you’ll need to deposit the money within 35 days of being approved and before you activate your card. You can raise your initial credit line up to your maximum limit.
Who Should Apply for the Discover it Secured Cash Back Credit Card?
If you need to establish your credit history or rebuild your credit, the Discover it Secured Cash Back Credit Card could be a good option. As a cardholder, you must provide a refundable deposit that serves as collateral. Typically, the deposit matches the credit limit. But given the changes with the card, it’s possible for qualified applicants to get a $200 credit limit with a $49 refundable deposit.
Cardholders must still make on-time monthly payments to build credit. Payments on the card are reported to Experian, Equifax and TransUnion, which are the three major credit bureaus. Once there is a positive payment history, cardholders may qualify to upgrade to an unsecured card and get the deposit back.
