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Secured credit card · Discover

Discover it® Secured Cash Back

Build a payment routine with a refundable deposit, rotating cash back and a first-year match.

No annual feeCash back rewardsRefundable deposit
See current issuer offer ↗

Issuer terms checked 2026-10-15 · Our editorial approach

Annual fee$0
Purchase APR29.24% variable
Required deposit$49, $99 or $200
Account typeSecured credit card
The CardsReviews take

Rewards with a credit-building purpose.

The combination of no annual fee and cash back is useful if you can fund the deposit and repay purchases. Getting the most from rotating categories takes attention, and carrying a balance at the regular APR can outweigh the rewards.

Consider it if: you can set aside collateral and manage quarterly category activation.
What stands out

The advantages.

  • No annual fee or foreign transaction fee.
  • Cash back, plus a match of eligible first-year rewards.
  • Deposit-return and unsecured-upgrade path, subject to eligibility.
What to weigh

The trade-offs.

  • A security deposit ties up cash.
  • 29.24% variable purchase APR makes borrowing costly.
  • The 5% categories require activation and have a quarterly spending cap.
The offer, unpacked

Rates, rewards & requirements.

The details below describe the checked offer. Your assigned terms and eligibility may differ.

Rates & fees

Annual fee
$0
Purchase APR
29.24% variable
Introductory APR
No introductory purchase or transfer APR in the checked offer
Balance transfer fee
No fee at the standard transfer APR; 5% for transfers at a promotional APR offered by the issuer
Foreign transaction fee
None
Cash advance APR
29.24% variable
Cash advance fee
Greater of $5 or 5%
Late payment fee
First late payment: none; later late payments: up to $41
Returned payment fee
Up to $30
Purchase grace period
Due date at least 25 days after closing; pay the previous balance in full on time to avoid interest on new purchases

Rewards & account essentials

Rewards
5% on activated rotating categories, up to $1,500 per quarter; 1% on other eligible purchases. Additional 5% portal categories apply; see details.
Welcome offer
Dollar-for-dollar match of first-year cash back; see issuer conditions
Security deposit
$49, $99 or $200 based on creditworthiness; credit lines start at $200
Credit limit
Starts at $200; assigned maximum for additional initial deposits ranges from $1,000 to $3,000
Deposit deadline
Required deposit within 35 days of approval
Deposit return
Possible statement-credit return after a positive track record; otherwise after closure and full repayment. No fixed upgrade date promised.
Additional rewards
5% on eligible Capital One Entertainment tickets; 5% on eligible hotels, vacation rentals and rental cars booked through Capital One Travel
Reporting
Account standing reported to the three major credit bureaus
Put the terms side by side

Other cards to consider.

Account types and approval requirements differ. This comparison does not predict which card you can obtain.

A closer look

How it works in real life.

Who this card may suit

This card deserves a closer look if you can fund a deposit without weakening your emergency budget and you want rewards while establishing a payment routine. The rotating-category structure adds a task: you need to activate, check eligible merchants and watch the quarterly spending cap. Someone who wants a card they can largely set and forget should compare a flat-rate alternative.

What the deposit changes

The deposit and the bill are separate commitments. Setting aside collateral does not pay for purchases. Keep enough cash for the statement payment as well as the amount held by the issuer. The smallest advertised deposit is not a promise that every approved applicant will qualify for it.

A realistic rewards example

Suppose $600 of spending qualifies for an activated 5% category and $900 earns 1%. That would produce $39 before exclusions or returns: $30 plus $9. If all of those rewards qualify for the first-year match and the account meets its conditions, the later match would add another $39. This example is illustrative; it does not include interest, fees or portal spending.

Compare that result with the work involved and with your normal shopping habits. Spending an additional $100 to chase $5 of rewards is still an additional $95 outlay. Treat the reward as a small reduction in existing spending, not a reason to expand the budget.

Where the cost can outweigh the reward

A hypothetical constant $500 balance at 29.24% APR implies about $12.18 of monthly interest using APR divided by twelve. Actual interest uses the issuer’s balance method and billing dates. That rough cost puts a modest reward in perspective. A fee-free standard-rate transfer is also not an interest-free transfer: the regular transfer APR still applies.

Alternatives to compare

Capital One Platinum Secured removes rewards management but has its own deposit and limit rules. Eligible credit union members can also compare Navy Federal cashRewards Secured. Use the same expected spending and repayment pattern for each.

Questions before applying

Does paying the deposit guarantee approval?

No. Check the application requirements and wait for the issuer’s actual decision and assigned deposit.

Is the first-year match a fixed cash bonus?

No. Its value depends on qualifying cash back earned during the eligible first-year period.

Will the deposit be returned after a fixed number of months?

The current offer describes eligibility based on a positive track record. Do not build your cash budget around an assumed return date.

Editorial profile prepared October 15, 2026. Examples are hypothetical and do not predict approval, an assigned limit or a personal outcome. Editorial review is pending.

Transparent by design

Sources & offer notes.

Product facts come from issuer sources. Our commentary and hypothetical examples explain the trade-offs.

Offer 41586. These are the current Discover by Capital One application terms; older secured-card descriptions may use a different rewards structure or deposit. APR is variable. Confirm the offer displayed to you.