Discover APRs are accurate as of December 15, 2022.
The Capital One Platinum Secured Card and the Discover it® Secured Credit Card are two of the best secured credit cards on the market today.

Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Earn unlimited 1% cash back on all other purchases – automatically.
- Intro offer:N/A
- Annual fee:$0
- Regular APR:28.49% (Variable)
- Recommended credit score:(No Credit History)
- Intro offer:Cashback Match™
- Annual fee:$0
- Regular APR:27.24% Variable APR
- Recommended credit score:(No Credit History)
- Rewards rate:
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Earn unlimited 1% cash back on all other purchases – automatically.
- Build credit with no annual fee
- Available for people with bad credit or no credit
- Low security deposit requirement
- Automatic credit line reviews in as little as six months
- No rewards on your spending
- High variable APR
- Credit limit can be as low as $200
- Maximum credit limit of $1,000 with equal security deposit
- Build credit, even with limited credit history
- Automatic monthly account reviews after 7 months to determine if you qualify for a refunded deposit
- Earn rewards on your spending
- Requires security deposit (minimum $200)
- High APR
- Qualify for a line of credit with a security deposit as low as $49, $99 or $200
- Get pre-qualified online without any impact to your credit score
- Automatic review for a higher credit line after six months
- Choose your own due date
- Free credit score with Capital One CreditWise
- Emergency card replacement
- No foreign transaction fees
- Cashback Match first-year bonus: Discover will automatically match all the rewards you earn at the end of your first year
- Refundable security deposit between $200 and $2,500 required, which will act as your credit limit
- Automatic review your account after seven months to determine if you’re eligible to get your deposit back and upgraded to an unsecured card
The choice between the Capital One Platinum Secured Card and the Discover it Secured is simple: Choose the Discover it Secured if you want to earn rewards as you spend. Outside of rewards potential, these two cards are very similar. They’re both secured, so they require a cash deposit as collateral to get started. Both card issuers also report your balances and payments to the three credit bureaus, so they help you build credit as you make purchases and pay your bill.
Neither one charges an annual fee, and both offer the option to prequalify without any impact to your credit score, which is a major plus.
However, there are a few differences to consider. Capital One Platinum Secured Card does come with a lower minimum deposit requirement to get started, which can make it a better option for building credit when cash is tight. But the Discover it Secured offers rewards on everything you buy, whereas the Capital One Platinum Secured Card does not.
Here’s what else you need to know about these cards to choose the best secured option for you:
Side-by-Side Comparison
Capital One Platinum Secured Card | Discover it Secured | |
---|---|---|
Minimum Deposit | $49, $99 or $200 | $200 |
APR | 29.74% variable APR | 26.74% variable APR |
Rewards | None | Earn 2% cash back on up to $1,000 in combined spending at gas stations and restaurants each quarter (then 1% back) and 1% back on all other spending. Discover will also double all your rewards earned at the end of your first year. |
Other Benefits | • Reports to the three credit bureaus • Automatic credit line reviews in as little as six months • Flexible due dates • No foreign transaction fees | • Reports to the three credit bureaus • Automatic credit line reviews in as little as seven months • No foreign transaction fees |
Security Deposit Comparison
Secured credit cards require an upfront cash deposit as collateral, which is used to “secure” your line of credit. This security deposit helps issuers protect themselves against potential defaults, which is why secured cards are often more accessible to people with bad credit or no credit history than other credit cards.
But that means a secured card requires more cash liquidity than you might need to open another credit card — often hundreds of dollars. Between these two secured cards, the Capital One Platinum offers a potentially lower cash commitment upfront. Based on the information in your application, you may be able to open a card with a $200 credit limit with a deposit equal to that amount, or you may qualify for a lower deposit of just $49 or $99 to access the same $200 limit.
The Discover it Secured card, on the other hand, requires a minimum deposit of $200 to get started. With either card, you’ll get a $200 starting credit limit by paying the minimum, but you can increase your limit with a higher deposit.
If you have the cash either way, this factor may not play a role in your decision between these two cards. However, the Capital One Platinum Secured can make building credit easier when money is tight and you need to limit upfront costs.
Rewards and Benefits Comparison
The Discover it Secured is the clear winner when it comes to rewards. You’ll earn a minimum 1% back on everything you buy, plus 2% on up to $1,000 in combined spending at gas stations and restaurants each quarter. What’s more, Discover offers a cashback match welcome bonus, and will double all the rewards you’ve earned so far at the end of your first year.
Pro Tip
If you want cash back rewards while you build credit, sign up for the Discover it Secured. You’ll earn a minimum of 1% cash back on everything you buy with no annual fee.
If you’re more concerned with credit-building benefits, these cards are largely equal. Both report to each of the three credit bureaus, and offer built-in incentives for practicing good credit habits.
With the Capital One Platinum Secured, you’ll get automatic credit line reviews starting at six months. Plus, you can get your deposit back and upgrade to the Capital One Platinum Card with enough on-time payments under your belt. And with the Discover it Secured, automatic reviews of your credit limit begin after seven months. If you qualify with responsible credit use, you may be able to convert to an unsecured card and get your deposit back.
APRs
The Capital One Platinum Secured charges a 29.74% variable APR, and the Discover it Secured comes with a 26.74% variable APR.
Neither card offers an intro APR for purchases, but that’s very standard among secured credit cards.
Fees
Both the Capital One Platinum Secured Card and the Discover it Secured charge no annual fee and no foreign transaction fees.
Though only Discover it Secured offers any kind of balance transfer offer, they also charge the same 3% balance transfer fee. However, the Discover it Secured only charges 3% for balances transferred through April 10, 2022. After that, the balance transfer fee goes up to 5%.

Discover it® Secured Credit Card
- Intro offer:Cashback Match™
- Annual fee:$0
- Regular APR:27.24% Variable APR
- Recommended credit:(No Credit History)

Capital One Platinum Secured Credit Card
- Intro offer:N/A
- Annual fee:$0
- Regular APR:28.49% (Variable)
- Recommended credit:(No Credit History)

Petal® 1 “No Annual Fee” Visa® Credit Card
- Intro offer:N/A
- Annual fee:$0
- Regular APR:23.74% – 33.24% (Variable)
- Recommended credit:(No Credit History)
- Apply Now At Petal’s secure site
Petal® 1 “No Annual Fee” Visa® Credit Card issued by WebBank
Deciding Between Capital One Platinum Secured and Discover it Secured
Editorial Independence
As with all of our credit card reviews, our analysis is not influenced by any partnerships or advertising relationships.
Secured credit cards are a great way to build credit and improve your score, so you can qualify for more valuable rewards cards and better terms on other financial products in the future. Both the Capital One Platinum Secured and Discover it Secured cards are great options for building credit — especially since they both offer a built-in path to higher credit limits — which can help you build credit by lowering your credit utilization — and the option to upgrade to an unsecured card.
But thanks to its rewards option and first-year bonus, the Discover it Secured is the better option for most people. Not only can you earn rewards as you build credit, but you can practice the good habits that will help you maximize your spending and maintain a great score in the future.
With that said, the Capital One Platinum Secured may be a better choice for you if you want to avoid the obligation of a high minimum deposit. But before you apply, don’t forget to review all the cards available for building better credit — including unsecured cards for credit-building that don’t require any upfront deposit at all.
All information about the Discover it Secured Credit Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.