Two Top Secured Cards, Head to Head
If you are building credit from scratch or rebuilding after a setback, a secured credit card is one of the best tools available. The Discover it Secured and Capital One Platinum Secured are two of the most popular options. Both report to all three credit bureaus and have no annual fee, but they differ in important ways.
Here is how they compare on the features that matter most.
Deposit and Credit Limit
Discover it Secured requires a minimum deposit of $200, which becomes your credit limit. You can deposit up to $2,500 for a higher limit. The deposit is fully refundable when you close or upgrade the account.
Capital One Platinum Secured has a minimum deposit of $49, $99, or $200 depending on your creditworthiness. Your initial credit limit starts at $200 regardless of deposit amount. Some applicants may qualify for a higher limit with a higher deposit.
If you want the lowest possible upfront cost, Capital One's $49 minimum deposit option makes it more accessible. If you can afford $200, Discover gives you a dollar-for-dollar credit limit.
Rewards
Discover it Secured earns 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases per quarter), plus 1% back on everything else. Discover also matches all the cash back you earn in your first year, effectively doubling your rewards.
Capital One Platinum Secured does not earn any rewards. There is no cash back, no points, and no sign-up bonus.
This is the biggest difference between the two cards. If earning rewards while building credit matters to you, Discover wins easily.
Fees
Both cards charge no annual fee. Neither charges foreign transaction fees either, which is a nice bonus if you shop internationally online.
Interest rates vary based on your creditworthiness. Both cards have variable APRs, so always pay your balance in full to avoid interest charges entirely.
Path to an Unsecured Card
Discover it Secured automatically reviews your account starting at 7 months to see if you qualify for an upgrade to an unsecured Discover card. If approved, your deposit is refunded and your credit limit may increase.
Capital One Platinum Secured also offers a path to upgrade. Capital One periodically reviews accounts and may offer to upgrade you to an unsecured card and refund your deposit. The timeline varies but is typically within 6 to 12 months of responsible use.
Both cards offer a genuine path to graduation, which is essential for anyone using a secured card as a stepping stone.
Credit Reporting
Both cards report to Experian, Equifax, and TransUnion every month. This is critical for building credit. Some secured cards only report to one or two bureaus, but both Discover and Capital One report to all three.
Which Card Is Right for You?
Related: If you are just starting out, read our guide to building credit for the first time before choosing a card.
Related: Compare more options in our list of the best secured credit cards.
Choose the Discover it Secured if you want to earn cash back while building credit and can afford the $200 deposit. The first-year cash back match makes it one of the most rewarding secured cards available.
Choose the Capital One Platinum Secured if you need a lower entry point (as low as $49 deposit) and are focused purely on building credit rather than earning rewards.
Either way, use the card for small purchases each month, pay the balance in full, and your credit score will improve. Learn more about how secured cards build credit.
Frequently Asked Questions
Which card is better for someone with no credit history? Both are great starting points. If you can afford the $200 deposit, Discover it Secured earns more rewards. If you need a lower deposit, Capital One Platinum allows as little as $49 down.
Do both cards report to all three credit bureaus? Yes. Both Discover and Capital One report your payment activity to Experian, Equifax, and TransUnion every month.
How long does it take to upgrade from secured to unsecured? Discover reviews your account at 7 months. Capital One typically reviews within 6 to 12 months. Consistent on-time payments and low utilization speed up the process.
Is there a fee to close either of these secured cards? No. You can close either account at any time and your security deposit will be refunded as long as your balance is paid in full.
Can I transfer my credit limit if I upgrade to an unsecured card? When you graduate to an unsecured card, your credit limit often increases. Both issuers may offer a higher unsecured limit than your original secured deposit.
The Bottom Line
Both the Discover it Secured and Capital One Platinum Secured are excellent choices for credit building. Discover offers better rewards, while Capital One offers a lower deposit barrier. Pick the one that fits your budget and financial goals.
Learn more about building credit with Firstcard.
