Discover Secured CLI Trick?

Anonymous · ‎10-10-2016

I posted in another thread asking if the CL on the Discover secured card in any way effects graduation of that card people replied with a consensus of no.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Discover-Secured-Graduation-Question/m-p/47...

So a card with a $3,000 CL has the same chances of graduation as a $400 card if the individual had the same exact credit profile.

So what I'm thinking then because Discover allows you to increase your credit limit at any time and since a higher CL isn't any harder to graduate than a low limit secured then in the 11th month (right before graduation) deposit the desired amount lets say add an extra $2,000 and when you graduate the following month you'll have the credit line you started with plus $2,000 whereas before when you graduated you'd likely only graduate with whatever your initial credit limit on the secured card was.

Anonymous · ‎10-10-2016

How long till you graduate??? I try this with US bank with no success...Also can you please post me some data points on my thread??😃 will be really helpful for all secured CC holders

http://ficoforums.myfico.com/t5/Credit-Cards/US-bank-secured-card-data-an-non-USbank-secured-CC/td-p...

Anonymous · ‎10-10-2016

I don't believe that US Bank unsecures their secured card.

So far Discover is the only one I think this works with.

Anonymous · ‎10-10-2016

Jus these past few days I worked on getting it unsecured...it is now a unsecured visa siggy...but it did not do it on graduation like wanted too...but the maximum secure for me was $5000.oo it's now my CL on my siggy 5k😃

Anonymous · ‎10-10-2016

@Anonymous wrote:
I posted in another thread asking if the CL on the Discover secured card in any way effects graduation of that card people replied with a consensus of no.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Discover-Secured-Graduation-Question/m-p/4766010

So a card with a $3,000 CL has the same chances of graduation as a $400 card if the individual had the same exact credit profile.

So what I'm thinking then because Discover allows you to increase your credit limit at any time and since a higher CL isn't any harder to graduate than a low limit secured then in the 11th month (right before graduation) deposit the desired amount lets say add an extra $2,000 and when you graduate the following month you'll have the credit line you started with plus $2,000 whereas before when you graduated you'd likely only graduate with whatever your initial credit limit on the secured card was.

I've been specifically told by multiple people at Discover that increasing your limit in no way affects graduation and in fact if you were to increase your credit limit and graduate a week later you'll be graduated at the higher amount.

However, you may or may not graduate at 12 months. That all depends on your profile overall, not just your relationship with Discover.

My card is 22 1/2 months old. It's still secured but I'm still working on getting a few old things off so I can logically see why they haven't unsecured me yet but I'm still a little disappointed each and every month.

Anonymous · ‎10-10-2016

Yes...that's exactly what I was hinting at...you can add no problem like [michikade] is saying it May not unsecure at 12mo. Beware of that...now I had the same thoughts my US secured took 18mo. And I put in request😵

Oh well it's finally unsecured though...good luck please post results😃

Anonymous · ‎10-10-2016

It all depends on your score. Like for me I probably would've qualified for an unsecured card but I chose secured.

If someone has a 700 score there's no reason not to unsecure them. But if they're in the high 500's that's a reason to keep them secured.

creditguy · ‎10-10-2016

There's really no trick to this, you want a higher CL? you add money and whatever the deposit is at graduation is your CL. This can be done with any card that allows you to add additional funds. With discover you add anytime after your first statement. On a side note, there is no guarantee that Discover will indeed graduate at 12 months and yes US Bank does graduate to unsecured, eventually.

Anonymous · ‎10-10-2016

But say your score is 630 and you were going to graduate with your $200 CL but a month before you sneak in $2800 more to up your CL to 3k

Anonymous · ‎10-10-2016

If you sneak it in...they unsecure...you will hit the Jack pot CL of $3000.oo NOT a bad idea at all.

😄😁😄Did the same my self my initial deposit was $1700 then bumped to $3300!!!