How to Apply for your Discover It® Secured Credit Card
Discover It® Secured Credit Card – A Simple Strategy to Accumulate Credit
The Discover it® Secured Credit Card is a credit card option for people who wish to be able to either build or rebuild their credit. The card possesses different amenities i.e. cashback rewards, a low-security deposit element, and charges zero annual fees.
Cardholders can strive to earn a good credit score and be responsible in putting their accounts to good effect.
The ultimate key benefits
Cash back rewards:
- Get 2% back on Gas Station and restaurant purchases, each quarter, of up to $1,000, no need to register in the program. Also, we levy unlimited 1% cashback on all additional purchases.
Security deposit:
- Your credit line is as much as your deposit itself which will be $200 as we’re beginning. Depending on the credit bureau report, you might re-purchase this deposit in 7 months and will get a more favorable ‘unsecured’ card then.
Build credit responsibly:
- The card gives you an opportunity to budget, thus you can keep on building your credit while managing your money. If you pay all of your bills on time and in full each month, you will create a positive credit history because your timeliness in paying will be reflected by your credit report.
No annual fee:
- As the card does not charge an annual fee, it is a good value option for those who want to improve their credit score.
Acceptance:
- Discover is accepted nationwide by 99% of places that take credit cards. This high level of acceptance means you can use your card almost anywhere, making it a convenient payment option for everyday purchases.
2x cashback:
- Discover doubles customers’ cashback earnings during the first year, providing an unlimited dollar-for-dollar match of all the cashback accumulated, automatically.
Online privacy protection:
- Discover ensures customers’ online privacy is protected. Through the app, customers are regularly removing their personal information from selected people and searching websites that may sell their data.
Free SSN alerts:
Customers receive instant notifications if Discover detects their Social Security Number on any of the thousands of Dark Web sites. It can be activated for free in just a few simple steps.
Freeze or unfreeze your account with freeze:
- Total control of their accounts. In case of a lost card, you can activate the freeze on/off button in the mobile app or website to prevent new purchases, cash advances, and balance transfers within seconds.
Prerequisites
To apply for the Discover It® Secured Credit Card, you’ll need to meet the following requirements:
- Have a minimum of 18 years of age;
- Also make sure you have a Social Security number;
- Require a non-refundable security of $200 at least.
About the Discover Bank
Discover Financial Services is a digital bank and payment partner that is dedicated to enabling people to make greater use of their money, manage their debts, and save for the days that are to come.
Discover provides a basket of banking and credit investments: including the Discover it® Secured Credit Card. Learn More.
Who is this card for?
The Discover it® Secured Credit Card is ideal for individuals who:
- Do you want to apply a new front to a current credit history or build a brand new credit history?
- Interested in a credit with cash back facility?
- Choose a low-cost card that doesn’t require an annual fee.
- Do You are interested in getting a card that has a security deposit that is refundable holds?
How to apply for the Discover It® Secured Credit Card
- Visit the official website.
- Click the “Apply Now” button.
- Provide your personal information such as name, address and SSN. This helps the process of screening you.
- Pick from a variety of security deposit rates starting from $235 which includes insurance coverage.
- Lastly, fill out the application and submit it.
Also access the Mobile App.
Positives and negatives of the card
Positives:
- Venue to fix or generate credit status;
- No annual fee;
- Security deposit is refundable;
- Cash back rewards on transactions carried out with the preferred issuing bank and card networks.
Negatives:
- A security deposit is required;
- Foreign transaction fees apply;
- APR can be very high for cashback and payday loans- that is the problem.
How to unlock the card?
After receiving your Discover it® Secured Credit Card, follow these steps to unlock it:
- To use this service, either sign in to your online account or use the Discover mobile app.
- Move to the ” Account” or ” Card Management” column.
- Select the activation option to kick-start your card or check within for anything that might trigger your card.
- Go over the prompts on your screen and then activate your card by demonstrating your identity.
Fees and tariffs of Discover It® Secured Credit Card
- Annual fee: $0.
- Returned payment: Up to $41.
- Balance transfer: 3% of the value of each transfer for transfers posted to your account until June 10, 2024. After that, 5% of the value of each transfer. 10.99% introductory APR for 6 months, then 28.24%.
- Annual Percentage Rate (APR) for purchases: 28.24%
- APR for cash advances: 29.99%.
- Cash Advance Fee: In case the borrower is unable to repay, $10 or 5% of the amount issued will be withheld.
- Late Payment Fee: None the first time you pay late. After that, up to R$41.
Go here and find out more about the rates and fees of this credit card.
Customer service
- Card Help Centre;
- Message an Agent;
- Call at: 1-800-347-2683;
- Mobile App;
- U.S. 1-800-DISCOVER;
- 1-800-347-2683 (English/Español);
- 24 hours a day available;
- Outside U.S. 1-224-888-7777 (English/Espanol);
- Hearing/Speech Impaired;
- Dial 711 (Relay Service).
Last words
For US residents the Discover it® Secured credit card is the obvious choice if they want to establish or reestablish their credit repayment history.
If you choose this card, you’ll be supplied with a valuable financial tool. Yet, the candidates should carefully weigh the options and take into consideration the fact that the APR is very high and a security deposit is also required.
The card, on the whole, is a good choice for Americans who need to repair their credit, without forgoing the advantages provided by credit cards.
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