Discover it secured card now reports as SECURED.

[Creditdreamer]

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@Anonymous wrote:
i kept a high balance on it most of the time since i had it but always paid more then the min but the limit is a low $200 i recently brought it down to $0 hoping itll graduate if not ill maybe cancel it which is what i really didnt wanna do being that it is my oldest card😞

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If you kept a high balance on it and just recently paid it off, i wouldn't think you should expect it to graudate right away. The whole point of the secured cards is to have payment history but also to show that you don't max out your credit and pay in full, or close to full, every month. You can close it if you want, but I don't think it'll do you much good. I would wait until it reports to the credit bureaus and then try Capital One's prequal site (if you don't already have Cap One).

[OMW2_HighAcheiver]

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@Creditdreamer wrote:

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@Anonymous wrote:
i kept a high balance on it most of the time since i had it but always paid more then the min but the limit is a low $200 i recently brought it down to $0 hoping itll graduate if not ill maybe cancel it which is what i really didnt wanna do being that it is my oldest card😞

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The whole point of the secured cards is to have payment history but also to show that you don't max out your credit and pay in full, or close to full, every month. 

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Really? Where is that written? ....for my information.  If this is the case,  I've been wasting the last 3 months of my time. I always charge up then PIF.

[Anonymous]

yes i have cap1 already 3500 limit and barclays 1500

[Creditdreamer]

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@OMW2_HighAcheiver wrote:

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@Creditdreamer wrote:

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@Anonymous wrote:
i kept a high balance on it most of the time since i had it but always paid more then the min but the limit is a low $200 i recently brought it down to $0 hoping itll graduate if not ill maybe cancel it which is what i really didnt wanna do being that it is my oldest card😞

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The whole point of the secured cards is to have payment history but also to show that you don't max out your credit and pay in full, or close to full, every month. 

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Really? Where is that written? ....for my information.  If this is the case,  I've been wasting the last 3 months of my time. I always charge up then PIF.

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I mean that you're not supposed to let your statement cut with a high balance. I have been charging up my card like crazy (my Discover it secured) and I PIF every couple of days. Now that I have upped the limit to $800, i don't have to pay in full as often. But I still make sure to have it to 5-10% util by the time my statement cuts. If you're letting your statement cut every month with a high balance, that doesn't look good.

[OMW2_HighAcheiver]

.....oh. ....I was about to be ticked the frick off!

Haha

[Anonymous]

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@Anonymous wrote:

I know this may not matter to some. Just thought I'd give a heads up to people that are unaware. I have had my Discover it secured card for 12 months now with perfect history(12th statement cut on the 18th) prior to this month it reported as CREDIT CARD. This month it was reported as SECURED CARD on all 3 bureau's. So im assuming they have made some changes. Unless they only start reporting as secured if you dont graduate on your 12th month. IDK just thought I'd let people know. I know some people prefered Discover it secured card because it didnt report as secured. O and needless to say I havent graduated yet. Although Its only been 5 days since I've hit the 1 year anniversary so maybe i'll hear something soon.

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Sorry to hear that, but not sure it will have any effect in hurting your score(s). On another note, I have a Capital One Secured Platinum Card that will be 1 full year on Jan 13, 2016 (a month away), and CO does not transition their secured cards. Since they have changed their deposit rules and will no longer accept any deposits for credit limit increases after, I think, Jan/Feb 2016, I now will be watching closely if they follow that same pattern. If they do, I will cancel the card faster than they can hit the enter button.

Heck, at least you have an Amex Everyday Card! I have an "In Progress" going on since Nov 23rd.

[taxi818]

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@Anonymous wrote:

I know this may not matter to some. Just thought I'd give a heads up to people that are unaware. I have had my Discover it secured card for 12 months now with perfect history(12th statement cut on the 18th) prior to this month it reported as CREDIT CARD. This month it was reported as SECURED CARD on all 3 bureau's. So im assuming they have made some changes. Unless they only start reporting as secured if you dont graduate on your 12th month. IDK just thought I'd let people know. I know some people prefered Discover it secured card because it didnt report as secured. O and needless to say I havent graduated yet. Although Its only been 5 days since I've hit the 1 year anniversary so maybe i'll hear something soon.

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Even though it does as far as your credit score goes. It makes absolutely no difference. It is all revolving never the less

[sjt]

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@taxi818 wrote:

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@Anonymous wrote:

I know this may not matter to some. Just thought I'd give a heads up to people that are unaware. I have had my Discover it secured card for 12 months now with perfect history(12th statement cut on the 18th) prior to this month it reported as CREDIT CARD. This month it was reported as SECURED CARD on all 3 bureau's. So im assuming they have made some changes. Unless they only start reporting as secured if you dont graduate on your 12th month. IDK just thought I'd let people know. I know some people prefered Discover it secured card because it didnt report as secured. O and needless to say I havent graduated yet. Although Its only been 5 days since I've hit the 1 year anniversary so maybe i'll hear something soon.

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Even though it does as far as your credit score goes. It makes absolutely no difference. It is all revolving never the less

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+1

Also, When you card graduates to unsecured it will all be a moot point.

[sjt]

I had heard that Discover is going to allow people to apply directly for the secured card early next year, although Disscover has not confirmed this. So maybe the reporting change is in anticipation of the secured card application process.