Should i accept Discover It Secured Offer?

[VinnyVee]

I took the offer myself. There's a lot of places to get a lot on 5%+ back on their shopdiscover site. Plus in 12 months they review it to unsecure it. It might be secured but it still gets good cash back without an annual fee. The way I see it i i'll be using the money deposited to ear more money back in the next year.

[JLK93]

You should definitely accept it.

It reports as an unsecured card.

Make as large a deposit as possible.

It will benefit your rebuilding efforts.

You won't regret it.

[joedtx]

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@Organiclover1 wrote:

Thanks for the advice everyone! I'm thinking I should wait for a few months. My husband applied & they pulled transunion for him,  I was surprised they pulled equifax for me, it takes the secured card 12 months to graduate, & I think I will qaulify for unsecured before that timeframe.

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Keep in mind that you will now have 2 hard pulls with no guarantee that when you do apply it will be approved for the unsecured, while if you would have taken the secured card while it was offered, you would already have months of established history as well as the card benefits, but either way all the best to you in whatever decision you make 

[Anonymous]

I too have the secured card. I really hope they start reviewing accounts earlier than 1 year. I wonder if in 6 months can you ask for a early graduation.

[JLK93]

So far, no one has received an early graduation for this card. Of course, no one has had the Discover Secured it card for a year, yet.

[Anonymous]

Ok. Thanks for the update.

[Anonymous]

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Organiclover wrote: I did the prequailfy on Discover & was offered the secured card, should I accept or wait & apply at a later date in hopes of getting the unsecured Discover?

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Discover is my LEAST favorite credit card, i now keep it in my Sock Drawer, i have been to many Restaurants and other Businesses where i give them the Discover card to pay and  they give it right back to me saying we Don't take Discover, i think if you are going to get a Secured Credit Card you should get a Visa or Mastercard, NOT even a Secured Credit Card that runs thru The American Express network because again it is NOT accepted everywhere...

[Anonymous]

There is a secured credit card that runs on the Amex network?

[Anomalous]

I'd take it if it was offered.