Discover It Secured Card Offer question.

[Jon85]

Hi all,

I applied for the Discover It card this morning but was offered the secured version instead. 

I'm trying to rebuild my credit, and the only thing that I can offer right now as a deposit is $200. I've been told that this offer doesn't come around each time you're denied, so I'm afraid to wait another month or so when I can save up more money and put a deposit down. 

So I'm wondering if I do open it with a $200 limit, if that's going to look back on my credit reports for only having a card with that kind of limit? I don't plan on using it, just probably going to put my $5 a month hosting fee on it and then just pay it.

Or should I wait and try my luck again in the future when I can put a larger deposit down? Thanks in advance for the responses...

[gdale6]

If all you can obtain now is a secured card I would advise you to take it, you can increase your limit with additional deposits. Discover is fickle you may only get one shot.

[yudeology101]

---

@gdale6 wrote:

If all you can obtain now is a secured card I would advise you to take it, you can increase your limit with additional deposits. Discover is fickle you may only get one shot.

---

+1.  Take the offer and let is grow w/ you and try to unsecure it after 12months or so (if they have the 'graduating' option). 

::edited for typo::

[baller4life]

Only problem guys is you can't add to deposit. Your initial deposit is it. I would take it and run. Deposit as much as you possibly can. Not guaranteed to be offered next app.

[boomkattack]

Yep, I would definitely take the offer and put down what you can. It does suck that you can't add additional deposits but maybe they'll change that down the road. So go for it, this may be your only chance to get the card.