*Card Rating is based on the opinion of TPG editors and is not influenced by the card issuer.

If you are building (or rebuilding) your credit, a secured credit card is a great option. You may be approved with a low (or sometimes zero) credit score. Typically, secured cards require a deposit, which becomes your credit limit initially.

While these can be a great option, they typically don’t have the perks we’ve come to expect from our best rewards cards, like a welcome bonus and solid earning rates.

The Discover it secured credit card, however, offers more than just an opportunity to build credit. Cardholders can get a refund on their security deposit, making this card a strong contender if you’re looking to build your credit. On top of that, you will earn rewards on your purchases.

This card has no annual fee and is not mandatory credit scorebut this requires a security deposit of at least $200 – and your deposit amount matches your credit limit.

Let’s take a look at the details of the card to see if it’s right for you.

Information relating to the Discover it secured credit card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Find out Welcome Offer Secure Credit Card

New Discover it Secured cardholders will earn cash back at the end of the cardholder’s first year. There is no limit to the amount of cash back the cardholder can earn in this match.

Daily newsletter

Reward your inbox with the TPG Daily newsletter

Join over 700,000 readers for the latest news, in-depth guides, and exclusive offers from TPG experts.

The value of this welcome offer will depend on how much you spend on the card during the cardholder’s first year. Still, many secured cards don’t offer any welcome bonuses, so the ability to get unlimited cash back is a valuable perk.

Related: The best welcome offers of the month

As with most secured cards, the main advantage of the Discover it secured credit card is the ability to improve your credit score. However, this card also offers additional benefits that set it apart from other secured cards on the market, such as a welcome offer and the opportunity to earn bonuses in certain categories.

Additionally, cardholders can get their security deposit refunded after six consecutive on-time payments and six months of good standing on all their credit accounts.

The card also offers standard benefits like fraud protection and the ability to track your credit score.

These benefits fall short of what you’ll find on our favorite travel rewards cardsbut they are pretty standard for a card with no annual fees. Additionally, the ability to get your security deposit back is a unique benefit that may tempt you to choose this card over other secured credit cards.

Related: How to check your credit score for free

The Discover it secured credit card earns 2% cash back on the first $1,000 in combined purchases at gas stations And restaurants every quarter (then 1%) and 1% cash back on all other purchases.

These earning rates pale in comparison to our favorite travel rewards and cash back credit cards, but they’re solid for a secured card. Many secured cards earn no rewards, so the ability to earn cash back is a plus on this card, and earning bonus cash back on bonus categories is even better.

You can redeem your rewards as cash back in the form of a deposit to your bank account or a statement credit to your account. Plus, you can pay directly with your rewards via AmazonApple Pay and PayPal.

You can also redeem your rewards for gift cards or use them to create a charitable donation. This is a decent range of redemption options, considering it’s not a lucrative travel rewards card.

Related: How to use your credit card cash back

For additional options, see our full list of the most secure credit cards And the best cash back credit cards.

Related: How to choose the best credit card for you

Related: 6 Things to Do to Improve Your Credit Score