Discover it^® Secured Cash Back Review [2026]: The Secured Card that Pays You Back

What is the Discover it^® Secured Cash Back?

The Discover it^® Secured Cash Back is for people with no credit history¹ <p class="">Capital One may use credit scores if available.</p> or even a bad credit score. Like most secured credit cards, it requires a security deposit, but its similarities to other credit cards end there.

I'm blown away by the benefits offered by the Discover it^® Secured Cash Back, from its attractive credit line of $200 - $3,000 (based on your security deposit and what they approve) to its welcome offer and opportunity to earn cashback. Most secured credit cards exist only to help you improve your credit score, but this card offers many more financial rewards, which, in my opinion, motivates you to keep the card in good standing and improve your credit.

Of course, the card charges interest, and it's not a low regular APR, but you pay $0 in annual fees.

If you aren't familiar with how secured credit cards work, they require a security deposit equal to your credit limit. Discover uses this as collateral if you don't make your payments.

Card basics

Who should get the Discover it^® Secured Cash Back?

The Discover it^® Secured Cash Back is best for two types of people: those with damaged credit and those with limited or no credit¹ <p class="">Capital One may use credit scores if available.</p> . Because of their credit history, people in these situations often find it difficult to get approved for an unsecured credit card.

However, I urge you to use caution. If you have a history of not paying your credit card bills, you risk losing your security deposit with the Discover it^® Secured Cash Back. Make sure you're ready to get back on track with your payment history before opening this card so it helps you boost your credit rather than spend money you can't afford to lose.

Benefits and perks

• Generous welcome offer: There's a generous welcome offer available for new cardmembers: Discover will match all the cash back you’ve earned at the end of your first year. There's no limit on how much cash back you can earn either, which makes this a great perk.
• Earn cash back: Finding a secured credit card with a rewards program is rare. Discover it^® Secured Cash Back cardmembers receive excellent rewards. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
• Late payment fee forgiveness: None the first time you pay late. After that, up to $41 Discover forgives the first late payment cardholders make. Discover also doesn't charge a penalty APR.
• Refundable deposit: When you pay your balance in full and close your account, you'll receive your full security deposit. 
• No annual fee: Start building your credit without the hassle of an annual fee. There is a $0 annual fee with the Discover it^® Secured Cash Back.

Earning and redeeming cash back

Like I said earlier, the fact that the Discover it^® Secured Cash Back allows you to earn rewards is incredible. Most secured credit cards only offer the option to get credit with a bad credit score, and they charge high fees to get it, but Discover it^® Secured Cash Back is different and it's easy to earn rewards.

Best ways to earn

Another thing I love about this card is the categories in which you can receive the highest rewards for everyday spending. It's nice to know you can earn a little cashback on a variety of purchases.

I also like that they are categories you likely already spend money in, so you aren't tempted to spend in other unnecessary categories that may cause you to exceed your budget.

Using your redemptions

Discover makes it simple to use your redemptions. There isn't a minimum amount you must accumulate to cash in, and you have options including:

• Statement credit: You can apply your rewards right back to your statement to reduce the amount you pay out of pocket.
• Electronic funds transfer: You can link a bank account and request to have your rewards transferred to it.
• Pay with Cashback Bonus®: You may be able to pay with rewards on Amazon or using PayPal.
• Gift cards: You can select physical or electronic gift cards (starting at $5), but it can take up to three weeks to receive physical cards.

Discover it^® Secured Cash Back FAQ

Other cards to consider

I always recommend that you compare secured credit cards, to ensure the one you choose is the best option. Fortunately, there are several options available for people with bad or no credit.

Platinum Secured Credit Card from Capital One

A popular secured credit card to consider is the Platinum Secured Credit Card from Capital One. This card has a $0 annual fee and only requires an initial security deposit of up to $200. You will automatically receive consideration for a credit line increase as quickly as six months after account opening, and you have the option to pick your monthly due date.

opensky Secured Visa^®

Another great secured card is the opensky Secured Visa^®. OpenSky's credit card doesn't require a credit check for approval, and users can set their credit limit up to $3,000 ($100 minimum). This card does have a small annual fee of $35.

However, the OpenSky Secured Visa comes with all the benefits of a Visa credit card, including fraud protection and acceptance almost anywhere in the world.

Bottom line

In my opinion, you can't do better than the Discover it^® Secured Cash Back, if you don't qualify for a traditional credit card. Its Cashback Match™ at the end of your first year, lack of an annual fee, and option to earn cashback on purchases is enough to entice most people to use a credit card responsibly.

If you qualify, you can build a solid payment history and take advantage of the cash back.

Keep in mind that there is a refundable security deposit, so be sure to have that ready before you apply. If this card doesn't seem right for you, check out our list of the best credit cards for rebuilding credit to see some more options.