Discover Relaunched Its Secured Cash Back Credit Card

The card requires a minimum $49 deposit and offers 5% cash back on select quarterly categories.

Updated on Oct. 14, 2026 in Credit Cards

Discover Relaunched Its Secured Cash Back Credit Card

Live Poll

Do you trust secured credit cards to help improve your personal credit score?

Discover has officially relaunched its secured credit card aimed at helping users build credit through a refundable deposit system. This update follows a brief pause in applications that occurred during the summer of 2026.

Why it matters

Secured credit cards offer a pathway to establish or improve credit history by requiring collateral that minimizes risk for the lender. As the company navigates its post-acquisition status under Capital One, this product serves as a standard entry point for borrowers.

The card requires a minimum refundable deposit of $49, with a minimum credit limit set at $200 and a maximum limit of $3,000. Users can pay this security deposit in installments over a window of 35 days.

The players

Discover

A financial services company that offers credit cards, banking products, and personal loans.

Capital One

A major bank and credit card issuer that acquired Discover in 2025.

Experian

A credit reporting agency that collects data on consumer payment behavior.

The details

Applicants provide a refundable deposit that acts as collateral, which determines the cardholder's spending limit. Beyond the base 1% earnings, cardholders can activate rotating categories to earn 5% cash back on up to $1,500 in quarterly purchases. Discover also matches all cash back earned during the first year for new cardholders. The issuer reports payment history to Experian, Equifax, and TransUnion to assist in building a credit record.

Capital One acquired Discover in 2025.
Card applications were paused in Summer 2026.
Discover relaunched the credit card on October 14, 2026.

Money Landscape

This move follows the 2025 Capital One acquisition of Discover and serves to re-establish the company's presence in the secured credit market. It reflects a broader trend of issuers tightening or adjusting their product suites following major corporate consolidations.

Consumers looking to build their credit history can now apply for this card with a deposit as low as $49, which can be paid over a 35-day window. Consider discussing your credit-building goals with a qualified financial professional to determine if a secured card fits your budget.

The takeaway

The Discover secured card provides a way to earn cash back while building a credit file through reported payments to the three major bureaus. Cardholders should track their spending categories quarterly to maximize the 5% bonus and ensure all security deposit installments are met within the 35-day window.