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Moderator
Revelate
Posts: 9,485
Registered: ‎12-30-2011
0

Re: Thank you Discover....


jsucool76 wrote:
Mid cycle reporting paired with .25% CB until $3000 spend makes this card seem lame. XD



It's a subprime approval, until the recent changes circa June from other lenders it was a reasonable card I think.  Now I have to agree I don't know if it really makes any sense, that may be a part of the reason Discover is reportedly phasing it out in favor of the IT?  Wouldn't surprise me if the reward structure changes a little too.

 

AFAIK there's nothing illegal with reporting mid-cycle, a non-trivial number of lenders do this for various reasons.  I don't know about that statement generation bit though, that does seem unique to them and it's not exactly a huge cost savings not to generate an electronic statement at least.  I think most people have gone paperless at this point on their credit cards?

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Senior Contributor
jsucool76
Posts: 3,600
Registered: ‎12-11-2011
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Re: Thank you Discover....

I just think that it is funny that lenders always mid cycle update when you have a balance, but if you pay off a large balance and request a mid cycle update to report a $0 balance, the answer is always "no."
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Thank you Discover....

EXACTLY jsu!!! That really pisses me off!! Im going to have q ton of false util. Debt this month. :smileysad:



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Valued Contributor
Duncanrr
Posts: 2,843
Registered: ‎06-08-2012
0

Re: Thank you Discover....

Walmart discover just mid cycle reported on mine. Have nice 51% UTIL on it and lost another 8 pts.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Senior Contributor
jsucool76
Posts: 3,600
Registered: ‎12-11-2011
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Re: Thank you Discover....

How old is your walmart discover? If it is new, afaik, gecrb mid-cycle updates every walmart card the first month (or after first purchase)
Valued Contributor
Duncanrr
Posts: 2,843
Registered: ‎06-08-2012
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Re: Thank you Discover....

This is mid-cycle in 2nd statement


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Frequent Contributor
TeeandDee
Posts: 426
Registered: ‎02-09-2012
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Re: Thank you Discover....

Discover didn't even report for me yet for August! :smileymad:  They usually report a day or two after my billing statement closes like clock work, and here it is the 7th of October and they still haven't reported.  SMH!

Slowly building....
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: Thank you Discover....


Duncanrr wrote:
Walmart discover just mid cycle reported on mine. Have nice 51% UTIL on it and lost another 8 pts.

Same EXACT thing happened to me! Walmart mid cycle reported this month and it cost me 4 pts. ohh I was pissed when i read the alert from EQ.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: Thank you Discover....


Duncanrr wrote:
This is mid-cycle in 2nd statement

2nd statement for me as well...



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Valued Contributor
maiden_girl
Posts: 2,106
Registered: ‎12-29-2011
0

Re: Thank you Discover....


Duncanrr wrote:
Walmart discover just mid cycle reported on mine. Have nice 51% UTIL on it and lost another 8 pts.

That's actually not Discover but GECRB...lol

 

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