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I've had this card for a year and it didnt graduate. Ive qualified for much better cards since and no longer have a need for a secured card. Should i wait to see it it will graduate or just cancel it and forget about it for now ?
Its a great card to have and when it does unsecure it will grow fast. I would wait it out if you dont need your deposit back.
I just got approved for the Discover IT secured and, of course, am hoping it will unsecure in 12 months. The rep even told me sometimes it happens faster. Anyway, what is your limit and what is your usage like? My plan over the next year was to basically use the card kind of like a savings account and just keep increasing the limit to the max, and also use the heck out of it and always PIF. Most all of my negatives will fall off in the next 12 months so my report/scores will be MUCH better then.
So, if it never gradutes, does that mean if you apply for a Discover IT unsecured that you would be declined? Can you call and recon the secured into an unsecured?
question do you use the card at all? i am trying to see why some cars unsecure and some others dont.
@undrtkr65 wrote:
I use mine for everyday purchases and pay the current balance in full every week. I figured it would help me to unsecure it faster but I don't know I will see. I've only had it for a month.
This is what I do too. Have had mine a few weeks. $200 CL and PIF twice already and I am still getting welcome e-mails.
$200 Limit, Kinda barely use it these days because of the limi i can only do so much with it. I was going to submit an additional deposit but I have better cards in my profile now that make me not really want to give more for a deposit.
It took me a year for it to graduate. I have a $200 limit on it and probably spent an average of $300/month the first 6 months, then dropped my usage to an average of about $100/month as I started using cards with higher limits.