Credit Building Card Comes with the Same Rewards and Benefits as the Discover it® Card, with No Annual Fee
Jan 25, 2016
January 25, 2016 (Press Release) –
RIVERWOODS, Ill.–Discover today announced the launch of its Discover it® Secured Credit Card for consumers looking to build or rebuild their credit. The card comes with the same rewards and benefits as the Discover it® Card, including Cashback Bonus® rewards and FICO® Credit Scores for free on monthly statements and online1, all with no annual fee2.
“Some secured cards in the marketplace are watered-down versions of other card products that have annual fees and don’t offer any rewards”
The Discover it Secured Credit Card requires applicants to provide a security deposit, which Discover holds as collateral. After one year as a cardmember, Discover will begin to review Secured Credit Card accounts each month to see if cardmembers can transition to an account that does not require a security deposit. These reviews are based on responsible credit management across all of the consumers’ credit cards and loans.