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Discover Graduation.

Established Member

Discover Graduation.

I started rebuilding back in April. I was approved for a $2500.00 secured card. I had 11, 12, and 12 collections on my credit reports. Now I'm down to 1 collection on trans union, and 2 collections on experian and equifax. I used the card a lot but I never had a balance over 100.00. Paid in full 3 or 4 times a month. Do you guys thing these collections will keep my card from graduating next statement.
Message 1 of 31
30 REPLIES
Established Member

Re: Discover Graduation.

Hello there. I doubt it. I had my  secured Discover for 5 months, with just a $200 limit. I have been monitoring my scores carefully and cleaning up baddies. I've just 4 left now. Right at the 5 month mark, graduated  to $2500 limit, unsecured. I'd clean up the baddies as soon as you can, but mostly keep paying your balance in full and keep your util low to get graduated. You'll get there soonSmiley Happy


src="http://ficoforums.myfico.com/html/assets/challenge.png">Starting Score: EX 670
Current Score: EQ 704 TU 705 EX 686
Goal Score: 790


Take the myFICO Fitness Challenge

Discover IT/MerrickSignature/Chase Southwest Plus/Amex Blue Cash Everyday
Message 2 of 31
New Contributor

Re: Discover Graduation.

I had a public collections on my account. I'm at 5 months on my Discover as of October 1st but haven't seen any hint of graduation yet.


FICO8
April 2017 - Experian 601, Equifax 659, Transunion 568
May 1, 2017 - Experian 601, Equifax 659, Transunion 588
June 1, 2017 Experian 638, Equifax 661, Transunion 582
November 1, 2017 Experian 664, Equifax 667, Transunion 666
BK 13 discharged 4/4/17
Cards - Cap One QS1 $3k, Cap One Venture $2k, Discover IT Secured $200, PenFed Promise $1500, BOA Secured $300, NFCU nRewards $2k, Wayfair $3500, Pottery Barn $750, Home Depot $500, Amex BCE $500, Lowe's $1000, Amazon Prime Store $1600, Old Navy $1900
Message 3 of 31
Valued Contributor

Re: Discover Graduation.

Much more common for graduation after 7 statements but a few have gotten it earlier.
Message 4 of 31
Highlighted
Established Member

Re: Discover Graduation.

Graduation isn't a guaranteed thing, but I would say keep doing what you are doing.  I'm 19 months in with $2,000 on deposit, never late, low util, and have been actively cleaning up baddies from my report but have not seen any movement from Discover to graduate my account.  I'm not in a hurry, either -- the key is to keep all accounts low util or PIF and keep cleaning up.


Current cards: Quicksilver $6,500 | VentureOne” $3,400 | Buypower $500 | “Discover $2,000
Current Scores: TU 626 / EQ 633 / EX 636
Message 5 of 31
New Contributor

Re: Discover Graduation.

Nope. I am living proof. Got mines graduated last week and got my deposit back in 3 days. I have 6 collections on TU 11 on EQ and 3 on EX and student loans that was defaulted on. Didn't stop me from getting my card graduated. I tried for an increase but they decline me. TU score is 643 btw
Message 6 of 31
New Contributor

Re: Discover Graduation.

I got my card graduated after 6 months. Wasn't expecting it. I used mines heavily though but always keep the balance low for the most part. My deposit was 1500.
Message 7 of 31
Super Contributor

Re: Discover Graduation.

The Discover dilema. Many times those expecting grad dont get it those who dont expext it do. Discover isnt happy unless it plays with our emotionsSmiley Wink

To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 8 of 31
Valued Contributor

Re: Discover Graduation.


Austrausky wrote:

Graduation isn't a guaranteed thing, but I would say keep doing what you are doing.  I'm 19 months in with $2,000 on deposit, never late, low util, and have been actively cleaning up baddies from my report but have not seen any movement from Discover to graduate my account.  I'm not in a hurry, either -- the key is to keep all accounts low util or PIF and keep cleaning up.


Think somewhere in the 640s for TU is a magic number ..... but as always YMMV

 

-J

 

Message 9 of 31
New Contributor

Re: Discover Graduation.

You gotta use that card a lot and pay it down to have it graduate.
Message 10 of 31