Discover it Secured Credit Card

Best Gas Credit Card for Bad Credit

Discover it Secured Credit Card

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Pros
  • Approves applicants with bad or fair credit
  • Rewards are redeemable via a statement credit or on Amazon.com
  • Friendly, helpful customer service team
Cons

We can’t think of any major drawbacks - most people who have this Discover card love it. Some folks wish it wasn’t secured, but responsible cardholders have the option to graduate to an unsecured card after 8 months.

Highlights
  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Credit Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
  • Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
Details

Application Process: Apply online 24 hours a day, 7 days a week (even on holidays). If you need help, contact customer service via the chat button or give them a call. There’s even an online option to check the status of an application you’ve started.

Rewards: You earn cash back on every purchase, not just ones made at specific gas stations. You get 2% back when you fuel up at gas stations around the country or dine at participating restaurants, and you earn 1% cash back for other qualifying goods and services.

There’s no wait period or maximum amount to hit for reward redemption - request a statement credit or shop at Amazon.com whenever you’re ready!

Bonus Offers: The secured Discover It features an awesome bonus offer - in fact, we raved about it in our list of the best secured credit cards. The company matches your cash-back rewards during the first year, so you get plenty of bang for your buck.

APR: The standard variable APR is 23.99%, which is surprising since it’s lower than many credit cards geared toward folks with better credit. You only pay a variable APR of 25.99%, which is nice since there are numerous other credit cards that charge 29.99%.

This is a transfer-friendly credit card. During the first 6 months, you only pay a 10.99% APR when you transfer balances from other cards.

Annual Fee: There’s no annual fee, but you do have to pay a security deposit. That’s a given considering this is a secured credit card. You have some control over how much you deposit for your credit line, but it has to be at least $200.

Card attributes
  • Variable APR
    24.49%
  • Cash Advance APR
    26.49%
  • Rewards Rate
    1.0%
  • Annual Fee
    $0
  • Intro APR
    10.99% on Balance Transfers for 6 months
  • Bonus Offers
    Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
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