Discover Credit Card - is it a good choice?

I just got approved for a Discover credit card and I’m looking to build credit. It’s a secured card, so I have to deposit $200. Is Discover a good card to start with? Any advice would be appreciated.

Yes, Discover is a great card to start with. Just make sure to pay off the balance on time every month and in full. After about 6 to 12 months, the card will likely convert to an unsecured card, and you’ll get your $200 deposit back.

@Sayer
Thanks for the advice!

If you’re looking for card recommendations, you might want to fill out a template. Here’s a quick version:

  • List of current cards with limits and opening dates
  • Your FICO score
  • Oldest account age
  • Chase 5/24 status
  • Monthly spending categories and amounts
  • Income
  • Purpose for the new card (credit building, cashback, etc.)

I started with Discover over 10 years ago and they’ve been great the whole time. It’s definitely a solid place to begin your credit journey.

Bevan said:
!basics

Credit Card Basics:

Check out theCredit Card Basics guide_basics to learn the fundamentals. Quick summary:

  • Credit cards are revolving loans.
  • You’ll get a statement each month showing your balance and what you owe.
  • Always pay at least the statement balance by the due date.
  • The statement date is at least 21 days before the due date.
  • It’s best to pay off the entire statement balance each month.