1.Best credit card for bad credit – Discover it® Secured Credit Card
Credit limit: $200 to $2,500
In addition to being our top choice for the best credit card for those with bad credit, the Discover it® Secured Credit Card also stands out as our leading option for secured credit cards. This is due to its cash back rewards on all purchases, its acceptance of applicants with limited or poor credit, and its features designed to assist in building your credit.
Credit-building features:
- Regular account reviews (after seven months, Discover will perform monthly reviews to determine if you qualify to graduate and reclaim your deposit)
- Reports your credit history to the three major credit bureaus (Equifax, Experian, and TransUnion)
- Free access to your credit score
- Free alerts for your Social Security number
| Annual Fee | Rewards Rate | Regular Purchase APR | Recommended Credit |
|---|---|---|---|
| $0 | 1% – 2% cash back | 27.24% Variable APR |
300-600 Limited / Poor
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Card Information
- No need for a credit score to apply. No Annual Fee.
- Your secured credit card requires a refundable security deposit, and your credit limit will match your deposit amount, starting at $200. You must provide bank information when you submit your deposit.
- 30 points or more—that’s the average increase you could see in your FICO® Credit Score after just six months of responsible usage.Automatic reviews begin at 7 months to determine if we can upgrade you to an unsecured line of credit and return your deposit.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, enjoy unlimited 1% cash back on all other purchases.
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers—exclusively from Discover.
- Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending requirement or maximum rewards.
- Receive an alert if we detect your Social Security number on any of thousands of Dark Web sites. Activate for free.
- Terms and conditions apply.
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