If you’re looking to improve and build your limited to none existent credit history then your best bet is a secured credit card. Now, the bigger question is… What is the best secured credit card? My answer’s plain and simple; The Discover IT Secured Card completely obliterates any other secured card in the market with no annual fee, the ability to earn cash back, free FICO credit score check and so much more! All you need is an minimum initial $200 deposit to activate, however, keep in mind that your credit limit will be based upon the amount of your deposit. This is definitely a recommended secured card from our “Best Secured Card List.”
Editor’s Note: Individuals can easily get a match-up to another rewards program from Discover as one of the ‘additional benefits’: The Discover It 5% Cash Back rotating categories, the Discover It Miles, etc.
|Get a $750 Welcome Deposit for eligible new customers who open an HSBC Premier Checking Account with qualifying activities. Member FDIC Terms
Get a $350 Welcome Deposit for eligible new customers who open an HSBC Advance Checking Account with qualifying activities. Member FDIC Terms
TD Bank Premier Checking: Earn $300 bonus when you open a new TD Bank Premier Checking account and set up direct deposit. Free access to over 1,300 TD Bank ATMs and branches as well as usage at non-TD ATMs. Customers will earn interest on higher balances. TD Bank offers free online and mobile banking with online bill pay, mobile deposit, and e-bills. Apply Now---TD Bank Premier Checking Review
CIT Bank allows you to earn a competitive high rate of 1.85% APY when you open a new Money Market account. Open with as low as $100 and no need to worry about monthly fees! The account comes with secure banking features, 24/7 account access and is FDIC insured. Earn over 15x the national average so start saving today! Apply Now—CIT Bank Review
Alternative Secured Credit Cards:
Recommended Non-Secured Credit Cards:
Discover It Secured Card Summary:
- Learn More
- Best Feature: Rebuilds credit & has an exceptional rewards program.
- Annual Fee: $0
- Expiration Date: None
- Additional Advice: Individuals can easily get a match-up to another rewards program from Discover as one of the ‘additional benefits’: The Discover It 5% Cash Back rotating categories, the Discover It Miles, etc.
Discover It Secured Card Features:
- No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
- A security deposit of $200 or more will establish your credit line (up to the amount we can approve). Automatic monthly reviews start at one year to see if we can transition you to an account with no security deposit.
- Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Earn 1% cash back on all other purchases.
- Tools to assist you; email alerts, text reminders and 24/7 customer service. Plus get your FICO® Credit Score for free on monthly statements and online.
- Discover matches all the cash back you’ve earned at the end of your first year – automatically. New cardmembers only.
- No late fee on your first late payment. And paying late won’t raise your APR.
- Click “APPLY NOW” to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
Discover It Secured Pros:
- No Annual Fee
- Top-Notch Rewards Program
- Free FICO
Discover It Secured Cons:
- Doesn’t earn interest on security deposit
The Discover IT Secured Card’s rewards structure is similar to the Discover IT Chrome; You earn 1% on all purchases and 2% cash back on gas and restaurants (limit of $1,000 per quarter). Again, this is the best secured card in the market… Make sure that you take advantage of their additional match-up benefit for a chance for you to upgrade to a rewards structure similar to the Discover It, or Discover Miles, etc. Keep in mind that the interest rate of 23.74% APY is decent but I still urge that you pay off all your balances each month! Also, try to avoid spending more than 10%-15% of your credit limit considering that your credit utilization does play a factor in building your credit score as well. This card is easily at the top of our Best Secured Card List. If you still would like to review other options, check out our complete list of Credit Card Promotions today!
|With the HSBC Gold Mastercard® credit card:
-0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 12.74%, 16.74% or 20.74% will apply.
-No Penalty APR.
-Late Fee Waiver.
-No Foreign Transaction Fees.
-$0 Annual Fee.
-$0 liability for unauthorized purchases.
-See Rates & Fees