The Discover it® Secured Credit Card deposit amount is $200 to $2,500. But not everyone approved for a Discover it Secured Credit Card will be able to deposit the $2,500 maximum. Discover approves individual maximum deposit amounts based on each applicant's creditworthiness and ability to pay. Applicants will not know their maximum deposit amount until the application is approved. At that point, they will be directed to a page to set up the deposit payment. This page will include the approved maximum deposit amount.

Discover it Secured Credit Card deposits can be made through an electronic transfer from your bank account. This is currently the only way to pay the security deposit. Be sure to provide both your bank routing number and account number. You must also agree to transfer at least $200 toward your maximum deposit amount. The application is not considered complete until you submit the deposit information. Discover will initiate a transfer for the deposit amount after the application is completed. You should receive your Discover it Secured Credit Card within 12-14 days from the date you paid the deposit.

The amount of your Discover it Secured Credit Card deposit determines the card's credit limit. You cannot increase your credit limit by adding funds to your security deposit, the initial credit limit will stay the same until your account is upgraded to an unsecured limit.

The Discover it Secured Credit Card has no minimum credit score requirement. You may be approved even without credit history or with damaged credit, as you only need a bank account, enough income to afford the minimum payments and no bankruptcy on your record.

As a result, the Discover Secured Card's approval requirements are much easier to meet. Plus, it's a great choice for either rebuilding bad credit or building credit from scratch.

Still, approval isn't guaranteed....

For the Discover it Secured Credit Card, and most other secured cards, your limit is the same as the amount you deposit. So, if you put down $200, then that's what you'll be able to spend.

That's why secured cards are easier to get: there's almost no risk to the lender itself, because they have your deposited money as collateral.

You may be denied for the Discover it Secured card based on your credit history and the information entered on your application. Common reasons could be pending bankruptcies, tax liens or a high level debt in relation to your income. Discover it Secured requires a security deposit to open the account, so your application would be denied if you don't put up a deposit of at least the $200 minimum.

Your Discover it® Secured Credit Card approval odds are good, even with bad credit. The Discover it Secured Credit Card was designed for building or rebuilding credit, which means you can get it despite being a newcomer or having a bad score. But nothing is guaranteed. You can estimate your approval odds by checking both your latest credit report and your personalized credit analysis, which you can get by signing up for a free WalletHub account.

In general, secured cards have the highest approval rates of any...

You can get a Discover secured card credit increase by graduating to an unsecured card after consistent on-time payments. But you're unlikely to graduate to an unsecured card (i.e. get your deposit back) for at least 7 months.

Starting 7 months into your account, Discover will take a basic look at your credit and payment history. If they like that they see, Discover may choose to graduate you to an unsecured card. If that...

Your Discover it® Secured Credit Card may graduate to unsecured as soon as seven months (7th billing cycle) after account opening, assuming you pay your monthly bills on time and otherwise manage your finances responsibly. But there's no guarantee when, or if, it will happen. It all comes down to Discover's determination of your creditworthiness. After the seven-month mark, Discover's credit analysts will periodically review both your account and your overall credit history to see whether it's appropriate to refund your security deposit, thus...

The Discover it® Secured Credit Card phone number is 1 (800) 347-2683. This is the general customer service number for all Discover credit cards. Live customer service representatives are available to answer account-related questions 24 hours a day, 7 days a week. For calls from outside the U.S., the Discover it Secured Credit Card number is 1 (224) 888-7777.

When you call, a U.S.-based customer service representative will route your call to a department specific to your account issue. You can also...

Yes, the Discover it Secured Credit Card reports to all three of the major credit bureaus: TransUnion, Equifax and Experian. This will be reported within days after the end of your monthly billing period. 

After the Discover it Secured Credit Card account information has been reported to the credit bureaus, it may take a few days before the updates appear on your credit report. 

If used responsibly, this credit card will surely help you rebuild your credit.

You can check your Discover it® Secured Credit Card status online or by phone at (800) 347-2683. You'll need to provide your Social Security number (SSN) and zip code to help Discover locate your application. And your status will be one of three things: approved, denied or pending. 

We'll walk you through the full process for each method below.

Here's how to check your Discover it Secured Credit Card status:

1. Online: Visit Discover's “Check Status” page, and enter your...