Discover is discontinuing applications for the Discover it® Secured Credit Card, narrowing the options for consumers who want to build credit and earn cash back. Applications closed on June 2, 2026.
All We Know About the Discontinuation
Combining credit-building features with rewards, the Discover it® Secured Credit Card has long been a popular option for consumers building or rebuilding credit. It requires a refundable security deposit starting at $200 with a credit line that’s typically equal to the deposit amount.
The card earns 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%. All other purchases earn 1% cash back. New cardholders can also earn a Cashback Match™, which automatically matches all of the cash back earned at the end of your first year with the card.
The discontinuation follows Capital One’s acquisition of Discover. It’s unclear what changes, if any, existing cardholders will see to their current accounts. Secured cards are often a starting point for consumers who can’t qualify for traditional unsecured cards. Few secured cards offer cash back with no annual fee.
[Read: Secured Credit Cards]
Other Cards to Consider
If you were considering the Discover it® Secured Credit Card, you still have options for credit-building cards that earn cash back.
The Discover it® Student Cash Back is open to students who are new to credit or have fair credit. The card has no annual fee. It earns 5% cash back on everyday purchases in quarterly rotating bonus categories up to the quarterly maximum when you activate and 1% cash back on all other purchases. Discover matches all the cash back you earn at the end of your first year as a cardholder with the Cashback Match™ feature.
With the Capital One Quicksilver Secured Cash Rewards Credit Card, cardholders with limited or bad credit can earn 1.5% cash back on all purchases and 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel. There’s no annual fee, but there is a refundable minimum security deposit of $200. This is the closest alternative to the Discover it® Secured Credit Card.
