Discover it® Secured Credit Card Reviews

Cardholders' Choice i
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4.5 out of 5 stars
62 Reviews

From Cardholders in the last year

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Most Helpful Positive Review

Sep 11, 2017
Graduated to Unsecured Acct - 09.09.17
JohnAllenShaw Cardholder

In Feb '17, I began the long trek of repairing my credit.  Couldn't even purchase a car with the damage I've done to my Credit with a 567 FICO Score.   A. Secured Cards - Opened the Discover Secured It Acct with a $300 Deposit on 02.03.17.  Opened up a Capital One Secured Credit Card with $75 for a $200 Credit Limit on 02.10.17.  Credit Limit increased to $500 in Aug ’17.  Opened up a CreditOne Acct with a $75 Annual Fee for an initial $300 Credit Limit.  Credit Limit increased to $450 in Aug ‘17.  On 08.02.17 EQFX: 597 TU: 624 EXPN: 602.  At the end of Aug on 08.31.17 EQFX: 636 TU: 627 EXPN: 625.  I had managed all accts by either 1.) Charging it to the limit several times and paid it completely off prior to the Statement Date of – or – 2.) Keeping the Balance well below 30%.  Now, here comes the hard part of getting bad credit accts deleted:  B. Charged Off Utilities - I had two small utility accts that were sent over to Collection Agencies.  Paid the Original Creditor in Full, NOT the Collection Agency.  Doing this saves you money because the Balance reported includes the Agency’s Fee and paying the Original Creditor gives you a much greater chance at a Deletion, instead of a 7 Yr “Paid in Full” remark.  As a Result, both were deleted the following Month of Jun ‘17.  One additional negative collections of $147 was paid to Original Creditor resulting in an additional deletion in Jul ’17.  C. Charged Off Cards - I had an old Capital One and an Orchard Bank Card charged off in 2010.  Both were purchased by Portfolio Recovery and Calvary, respectively.  Wrote all 3 Credit Bureaus to challenge the 7 yr time limit.  As a result, both are now deleted from my Credit Report.  Got a Car Note via BBVA Compass Bank for $10,102 with an 7.86% APR because they use TransUnion and it had the highest of all three at time 05.20.17 with a FICO of 586. EQFX: 558 EXPRN: 512. D. Credit Monitoring – Enrolled in Equifax monthly credit report prior to the data breach for $19.95 to get a new credit report with Score every day since 06.01.17 with no adverse impact to my score.  Signed up with Experian as well.  Signed up with Credit Karma because the Site displays a weekly point graph of your credit progress.  Today on 09.10.17, I received e-mail from Discover Congratulating me on good credit management and notifying me that my $300 Dep is being returned to me in the mail with a credit line increase of $1,200 for a total $1,500 Credit Limit.  I hope this guidance helps someone who is negotiating the perilous journey of credit repair because it’s not easy, at all, but then again nothing truly valuable is easy in life.

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Most Helpful Negative Review

Sep 05, 2017
Difficult to be converted to secure card
Bighorn2016 Cardholder

I have had the Discover Card since June of 2016. I called today after having the card for 14 months to see when they would issue a non secure card. I've made my payments in full every month, I've never missed a payment, never had a late fee, never paid an interest fee. In the past six months I've been issued a non secure card from Capital one, had my credit limit raised on another Capital One card. I received two credit cards from my bank, Navy Federal Credit Union, one with a $4700 limit and one with a $3400 limit. My credit score is almost 100 points more than it was 14 months ago. Yet Discover is still refusing to issue me a non secure card. Seems they are happy just keeping my $300? I asked them today what I had to do to cancel the card and they told me that would damage my credit score worse than anything? They won't tell you why they won't tell you why they won't convert to a non secure card. Not happy with Discover I couldn't recommend at this time.

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These reviews were written by current and former cardholders in the last year.

Oct 17, 2017
UNSECURED at 7th Statement!

I got this card on my 18th Birthday back in February 2017. Originally put down $200, but in July 2017 I increased that to $2000. My seventh statement cut in October 2017. A few days later, I received an email saying I would be getting the check for my security deposit in 5-7 business days, meaning my card is now unsecured! Thanks to this card, I actually have a credit history. I was able to get my very first car loan last month (with just six months history) and was financed for over $26,000 thanks to my credit-building work with this Discover Card. I am so HAPPY! The one time I spoke with customer service to increase my security deposit, they were super nice. I'm a customer for life :D

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Oct 14, 2017
Best experience ever!
JaMar2017 Cardholder

I applied for this card after I had a bad experience with Open Sky secured card. With Discover, They approved it like a week after I applied , once they got my deposit from my bank account. They sent the card very quickly (I think it took 2 weeks since I applied and received the card) . I immigrated to the US 5 years ago and I have been since then dependant on my husband, I became a citizen and wanted to start building my credit after I tried to get credit out there and they couldn't even find me, an employee at best buy gave me the advise to download Credit Karma so the app would give me tips and I could build my credit so I did it. I just got the Discover card on Friday and My score yesterday was 655 (my score could have been higher but I have 3 hard inquiries :-( ) I'll do my first purchase today (Sunday) and I'm planning on paying it by Wednesday , I read somewhere is better for building your credit paying even before you get your statement and not using it again until you have your credit line back, so that's what I'm planning to do! I'm super happy and I will keep posting my experiences with the card and with building my credit from scratch :-)

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Oct 17, 2017

Enter Your Reply

 
Nov 11, 2017

Congratulations! And welcome to the American economy! (smile)
OpenSky VISA claims not to have been able to confirm my identity so I was denied. In the process of receiving this notification, had a really hard time connecting with their customer service department. (smh)
Word of advice: Call Discover and ask for your:
1) due date
2) reporting date
When you pay your balance in full on the due date, be sure NOT to use the card until Discover has reported it.
Do this every month and see a 20-30 point increase in your credit score for every billing cycle! #ItWorks

 
Sep 17, 2017
stepping stone
gabs7 Cardholder

I applied for this card after being denied 3 times for it. I was able to get approved. My ck scores are 524 trans 545 equifax and 575 fico(experian). I originally applied for unsuecured and was then led to the secured card, I put in my banking info and in 2 business days I should see the trial deposits in my account and then the funds are to be removed. I signed up for 300, but plan on increasing it to 500. I currently have 2 secured credit cards one with the credit union i work for APR 11.90( best ever). An open sky card only did 200. I use the card, carry a balance and then pay off. MY goal is to rebuild my credit as much as i can, Im in a debit management program so Im cleaning up my act all over. oh and i should receive my card in about 8 days, hope this helps anyone thinking about applying 

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1 Reply
Nov 11, 2017

Word of advice: Call Discover and ask for your:
1) due date
2) reporting date
When you pay your balance in full on the due date, be sure NOT to use the card until Discover has reported it.
Do this every month and see a 20-30 point increase in your credit score for every billing cycle! #ItWorks

 
Sep 11, 2017
Graduated to Unsecured Acct - 09.09.17
JohnAllenShaw Cardholder

In Feb '17, I began the long trek of repairing my credit.  Couldn't even purchase a car with the damage I've done to my Credit with a 567 FICO Score.   A. Secured Cards - Opened the Discover Secured It Acct with a $300 Deposit on 02.03.17.  Opened up a Capital One Secured Credit Card with $75 for a $200 Credit Limit on 02.10.17.  Credit Limit increased to $500 in Aug ’17.  Opened up a CreditOne Acct with a $75 Annual Fee for an initial $300 Credit Limit.  Credit Limit increased to $450 in Aug ‘17.  On 08.02.17 EQFX: 597 TU: 624 EXPN: 602.  At the end of Aug on 08.31.17 EQFX: 636 TU: 627 EXPN: 625.  I had managed all accts by either 1.) Charging it to the limit several times and paid it completely off prior to the Statement Date of – or – 2.) Keeping the Balance well below 30%.  Now, here comes the hard part of getting bad credit accts deleted:  B. Charged Off Utilities - I had two small utility accts that were sent over to Collection Agencies.  Paid the Original Creditor in Full, NOT the Collection Agency.  Doing this saves you money because the Balance reported includes the Agency’s Fee and paying the Original Creditor gives you a much greater chance at a Deletion, instead of a 7 Yr “Paid in Full” remark.  As a Result, both were deleted the following Month of Jun ‘17.  One additional negative collections of $147 was paid to Original Creditor resulting in an additional deletion in Jul ’17.  C. Charged Off Cards - I had an old Capital One and an Orchard Bank Card charged off in 2010.  Both were purchased by Portfolio Recovery and Calvary, respectively.  Wrote all 3 Credit Bureaus to challenge the 7 yr time limit.  As a result, both are now deleted from my Credit Report.  Got a Car Note via BBVA Compass Bank for $10,102 with an 7.86% APR because they use TransUnion and it had the highest of all three at time 05.20.17 with a FICO of 586. EQFX: 558 EXPRN: 512. D. Credit Monitoring – Enrolled in Equifax monthly credit report prior to the data breach for $19.95 to get a new credit report with Score every day since 06.01.17 with no adverse impact to my score.  Signed up with Experian as well.  Signed up with Credit Karma because the Site displays a weekly point graph of your credit progress.  Today on 09.10.17, I received e-mail from Discover Congratulating me on good credit management and notifying me that my $300 Dep is being returned to me in the mail with a credit line increase of $1,200 for a total $1,500 Credit Limit.  I hope this guidance helps someone who is negotiating the perilous journey of credit repair because it’s not easy, at all, but then again nothing truly valuable is easy in life.

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Sep 10, 2017
I graduated to unsecured
stariara Cardholder

I applied in Feb 2017 for this card and here I am 7 months later graduating to unsecured . SUPER happy no more secured cards for me this was my last one!!!

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Sep 10, 2017
Graduated to Unsecured Acct on 09.09.17
JohnAllenShaw Cardholder

In Feb '17, I began the long trek of repairing my credit.  Couldn't even purchase a car with the damage I've done to my Credit with a 567 FICO Score.   A. Secured Cards - Opened the Discover Secured It Acct with a $300 Deposit on 02.03.17.  Opened up a Capital One Secured Credit Card with $75 for a $200 Credit Limit on 02.10.17.  Credit Limit increased to $500 in Aug ’17.  Opened up a CreditOne Acct with a $75 Annual Fee for an initial $300 Credit Limit.  Credit Limit increased to $450 in Aug ‘17.  On 08.02.17 EQFX: 597 TU: 624 EXPN: 602.  At the end of Aug on 08.31.17 EQFX: 636 TU: 627 EXPN: 625.  I had managed all accts by either 1.) Charging it to the limit several times and paid it completely off prior to the Statement Date of – or – 2.) Keeping the Balance well below 30%.  Now, here comes the hard part of getting bad credit accts deleted:  B. Charged Off Utilities - I had two small utility accts that were sent over to Collection Agencies.  Paid the Original Creditor in Full, NOT the Collection Agency.  Doing this saves you money because the Balance reported includes the Agency’s Fee and paying the Original Creditor gives you a much greater chance at a Deletion, instead of a 7 Yr “Paid in Full” remark.  As a Result, both were deleted the following Month of Jun ‘17.  One additional negative collections of $147 was paid to Original Creditor resulting in an additional deletion in Jul ’17.  C. Charged Off Cards - I had an old Capital One and an Orchard Bank Card charged off in 2010.  Both were purchased by Portfolio Recovery and Calvary, respectively.  Wrote all 3 Credit Bureaus to challenge the 7 yr time limit.  As a result, both are now deleted from my Credit Report.  Got a Car Note via BBVA Compass Bank for $10,102 with an 7.86% APR b0e1cause they use TransUnion and it had the highest of all three at time 05.20.17 with a FICO of 586. EQFX: 558 EXPRN: 512. D. Credit Monitoring – Enrolled in Equifax monthly credit report prior to the data breach for $19.95 to get a new credit report with Score every day since 06.01.17 with no adverse impact to my score.  Signed up with Experian as well.  I know Everyone Hates Equifax right now, but they keep the previous Credit Reports you had pulled daily archived so you can review them.  I can still access the one pulled on 06.01.17.  With Experian, you Cannot do this, but you can review past Scores via “Score Tracker”. TransUnion is simply Trash in my humble Opinion. Signed up with Credit Karma & NerdWallet on 07.10.17.  Credit Karma displays a weekly point graph of your credit progress.  Today on 09.10.17, I received e-mail from Discover Congratulating me on good credit management and notifying me that my $300 Dep is being returned to me in the mail with a credit line increase of $1,200 for a total $1,500 Credit Limit.  I hope this guidance helps someone who is negotiating the perilous journey of credit repair because it’s not easy, at all., but the reward at the end is redemption.  You can Do This.  It will be Painful, but you can Do This. Remember...It's a Marathon, not a Sprint.

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Sep 09, 2017
GRADUATED TODAY after 6months
PennyPinchHard Cardholder

I applied Feb 2017 with CS FICO of 550-- $200 security deposit (I also applied BofA with $1900 deposit; selflender $550 and Platinum Unsecured $300 at the same time). I increased my limit to $1500 after 2 months then used the card upto $1200 monthly but paid it off multiple payments every month and leave $0 balance (sometimes I leave $5 but I make sure I always pay it full). My utilization goal is less than 10% per month on each card. My FICO scores went upto as follows: 611, 621, 623, 670, 671, 676. My CK increased from 600 to 691. Just be patient and learn how to utilize your credit limit with excellent rating. My limit now is $1750 (I wish they had increased it to $2500 but I will ask for increase in 3 months)!

**EDIT: This is with Car Repo states on my Credit Report

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Sep 09, 2017
GRADUATED TODAY AFTER 6months
PennyPinchHard Cardholder

I applied Feb 2017 with CS FICO of 550-- $200 security deposit (I also applied BofA with $1900 deposit; selflender $550 and Platinum Unsecured $300 at the same time). I increased my limit to $1500 after 2 months then used the card upto $1200 monthly but paid it off multiple payments every month and leave $0 balance (sometimes I leave $5 but I make sure I always pay it full). My utilization goal is less than 10% per month on each card. My FICO scores went upto as follows: 611, 621, 623, 670, 671, 676. My CK increased from 600 to 691. Just be patient and learn how to utilize your credit limit with excellent rating. My limit now is $1750 (I wish they had increased it to $2500 but I will ask for increase in 3 months)!

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Sep 08, 2017
You will never get your security $ back
JodyMT Cardholder

I got this card in May of 2016 - to help build credit when I had none (I had always just paid for everything in cash)

Within the same time frame I had gotten two other non-secured cards.

Every month, on all 3 cards I either a. pay the balance in full - or b. pay the balance down to below 30%

When I signed up for this card it was a 12 month probabtion period to get your money back. I signed up after reading a couple reviews that people had recived their deposit back very quickly. They have since dropped the probation period to 7 months.

Here I am, going on 16 months with this card, with 100% payment history (on 3 cards) and still they are holding my deposit.

I call each month since my one year anniversary and am just told that it is under review.

I am very close to just closing the account altogether and working with my other two cards - that have a higher limit anyway and do not treat me like a ingrate that doesn't pay their bills.

I was counting on the security deposit to use as extra spending money for my daughter when we go on vacation in October but it doesn't look like that is going to happen any time soon at the rate this is going.

If you're looking for a good secured card this is not IT.

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Sep 05, 2017
Difficult to be converted to secure card
Bighorn2016 Cardholder

I have had the Discover Card since June of 2016. I called today after having the card for 14 months to see when they would issue a non secure card. I've made my payments in full every month, I've never missed a payment, never had a late fee, never paid an interest fee. In the past six months I've been issued a non secure card from Capital one, had my credit limit raised on another Capital One card. I received two credit cards from my bank, Navy Federal Credit Union, one with a $4700 limit and one with a $3400 limit. My credit score is almost 100 points more than it was 14 months ago. Yet Discover is still refusing to issue me a non secure card. Seems they are happy just keeping my $300? I asked them today what I had to do to cancel the card and they told me that would damage my credit score worse than anything? They won't tell you why they won't tell you why they won't convert to a non secure card. Not happy with Discover I couldn't recommend at this time.

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Sep 06, 2017

Going on 16 months here with no conversion to unsecured, they really don't do it unless they basically have to. Its sort of a scam to get more people to have their card since its not accepted everywhere. I am canceling this one as soon as my cap one goes to unsecured.

 
Sep 08, 2017

16 months with the same card here - 100% payments on 3 different cards and they still have my money. Over this company and this crappy a$$ card. I'd be apt to use their card more but like you, have other non-secured cards with way higher limits and I'd rather give my business to them.

 
Oct 20, 2017

From what I saw on other sites, you have to keep your utilization low. I think if it's over 50%, they won't convert it.

 
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Discover it® Secured Credit Card

62 Reviews
Cardholders' Choice i