I believe, not 100% sure, that the credit steps increase on the secured cap one is a one time thing. I plan on closing mine after the 1 year mark. It should have served its purpose by then. I would do the Discover pre qual if I were you. With your ex score they may offer you a regular Discover It. If not the secured is still a great way to go. With good payment history and no new negatives, it could unsecure in as little as 8 months. Also you get some rewards. Nothing major, but they do match cash back the first year. Good luck.
Goal Scores: 700 across all three
Yes, the secured only gets 1 increase ever. You will most definitely be helped by more cards.
Welcome, @Anonymous. 
Let your score take care of itself. You want another card because the secured card isn't adequate for your credit needs. Discover is a good idea; check their pre-qualification tool, and report back here with the product name and interest rate. (You don't ever want to pay interest, but the rate given during pre-qual helps you determine what your approval chances are.)
Another good option would be Capital One's unsecured Platinum card. Your secured card with them has a solid history, and they'll place a lot of weight on that.
By the way, don't rush your rebuild. More isn't better. The goal is a quality collection of cards. Moving methodically and strategically is the route to achieving that.
@Anonymous wrote:Thank You for the fantastic info!
After entering my information, I was prequalified for the Discover IT Secured Card with a 22.99% rate, minimum $200 Deposit.
My current Cap One Secured is 24.74%.
Regarding interest, haven't paid any yet!
I made mistakes when I was in my teens, went without a CC until now (in mid 30s) - I've learned the lesson! I pay in full as soon as the charge posts!
I think I'd like to apply for the Discover IT secured product. Is it best just to deposit the minimums with secured cards? Or should I put as much as I can afford? (thinking maybe it would help my credit profile with the increase of available credit?)
The cash is basically in the wind though until I decide to close the respective account. I don't want to close anything that will negatively impact "account age" so early in my rebuild.
@HeavenOhio What is your advisement regarding the results? I am interested in the Discover IT Secured - but will a second CC help my credit (another account showing on time payments)?
Closing the Cap One secured will not affect your age of accounts, as closed accounts still factor into your account age and will continue to report for up to 10 years.
And your Disco pre-qualification seems borderline. I would maybe wait until you hit your year mark with the Capital One card and then check the prequalify again.
@OmarGB9, the thing we're looking for on the Discover pre-qual tool is a "solid" interest rate rather than a range, e.g. 12% or 22% vs. something like 16–24%. It would stand to reason that a secured card would come with a relatively high interest rate.
@Anonymous, are there any negatives still on your report? The reason I ask is that your scores seem a little low for a report with a credit card having perfect payment history. Having this information would help us to help you strategize.
I'm a fan of building at the rate of one card every six months, with some flexibility as long as you don't acquire more than five cards in a 25-month span. That should keep you from being denied based on too may recent accounts or inquiries. Because you've waited longer than six months, you should be positioned for up to two cards in the relatively near future. You simply need to determine what fits your needs at this time and know which banks are sensitive to which things.
Another pre-qual tool I'd check is Capital One's. I don't believe it's as good as it used to be as it no longer includes Capital One's "better" cards. But it still may return a useful result. Again, we're looking for product names and interest rates. I'm betting they may offer you a Platinum card and maybe a QuicksilverOne. Platinum cards are usually upgradeable to a full no-fee Quicksilver after a period of time. QuicksilverOne cards have rewards, but they have an annual fee and are very hard to upgrade. If it comes down to a choice between these two cards, you definitely want to choose the Platinum.
I see two options for Discover. One would be to accept their offer for a secured card right now. Another would be to wait a bit longer and hope to be offered an unsecured product. It's possible that your Capital One card's one-year anniversary could make a difference. If you opt to accept the secured card, I'd fund it at whatever level you feel you can afford and hope that it eventually unsecures at that higher limit.
Another option is to look into credit unions. NFCU is a very popular choice around here. If you or a close relative have a military connection, I think they'd be a very good fit for you. If they can't offer you an unsecured card right now, they'd likely be ready to offer one soon enough.
To strategize, if you're interested in another Capital One card, they should come first. They're the most sensitive to new accounts. NFCU and Discover won't get bent out of shape if there's a new card on your report.
As far as scoring goes, three cards are a good thing over the long term, and some say five is better. But as I mentioned, you don't want to rush this. There are penalties for new accounts and inquiries. In particular, there's a penalty when one's youngest revolver is under a year old.
A second card will probably bump your score right away, i.e. it's mere presence will likely offset the penalties for inquiries and new accounts. A third card may result in either a ding or a bump, but it would help over the long haul. Starting with card #4, you're going to be dinged before you see bumps.
But as mentioned previously, let your score take care of itself. You want to get useful products into your pocket. Banks will have their own requirements independent of scoring. The critical thing is to avoid making any moves without asking here first.