Discover IT Secured Card Graduation Issues (Resolved! Graduated!)

[Anonymous]

Thank you everyone for the kind comments. For disabled vet the reason i went to the bbb is due to their business practices. Not because i didn't get my way. Sure i was upset about it but I wasnt going to do a bbb complaint because of that. When a business holds on to your money you have the right to question the business. The deal is have the card for 1 year and it should graduate soon after if expectations are met. My credit score went from **bleep** to in the high 700s. Amex and other card companies have given me great cards. All paid on time and we'll taken care of. Discover refused to provide any criteria as to why the card could not be unsecured. Just wait another month is their response. Disabled vet if you want to give me your money to hold on to I'll keep dragging you along month by month. The point is if I did a cheap job taking care of the card and had a low score i could understand their decision. But there is other circumstances here. Finally doesnt seem you are too familiar with bbb. It's Used to get the banks attention. Like wells Fargo ripping off thousands of customers. Without bbb and cfpb, Wells would still be ripping people off. This is because the lower level management will never report customer issues. You ask for a telephone number, forget it. Bbb goes right to the top. Work smart not hard. Fyi... i would have cancelled the card but i like the UnionPay feature as my op stated. Thanks

[Anonymous]

I think situations like this is one of the reasons Capital One has chosen to simplifiy  their secured offering the way they have-to avoid being hassled like this.  Did Discover promise in writing that it would be unsecured after 12 months?  No, they say they will start to review the account for unsecured status month to month starting at 12 months.

[sgs71]

I'm not replying to debate op's action, but my personal experience. I personally regret getting the secured discover card. I've had mine 18 months and still won't graduate to the unsecured card. I personally wish I'd have just been more patient and waited to apply when my credit had improved. I also have improved tremendously in the year and a half since I began my journey. No lates or collections, good scores but yet they won't budge. It's frustrating, but it is what it is I suppose. 😔

[Anonymous]

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@sgs71 wrote:

I'm not replying to debate op's action, but my personal experience. I personally regret getting the secured discover card. I've had mine 18 months and still won't graduate to the unsecured card. I personally wish I'd have just been more patient and waited to apply when my credit had improved. I also have improved tremendously in the year and a half since I began my journey. No lates or collections, good scores but yet they won't budge. It's frustrating, but it is what it is I suppose. 😔

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Like you, I'm coming to regret getting the secured card.  I know there are no guarantees, and at the time I felt that since I was given a second chance, I too believed if I treated the card well, they would consider unsecuring it, but alas I've come to realize that probably won't happen.  I've had the card for 17 months, and am cementing my plan to close the card in December regardless to whether I qualify for a card with NFCU.  Good luck to you.

[Anonymous]

I'm just coming up on my 1 year mark with my Discover Secured on October 10th. I, too, am wondering if I will graduate this month or soon after. My TU score is currently 692. I only have a couple accounts with lates over 2 1/2+ years old. Everything else is positive. UTI is between 1-4% depending on the month.

My questions are:

• Discover allows cardholders to have two cards, correct?
• Can we apply for another card while we still have the secured version?
• Can you get the double cash deal on the new account for the first year?
• If Discover does give another card to those who have a secured version, is it worth it to apply and then close out the secured card if you are approved?