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Thank you Discover....

Moderator

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 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 11 of 29
Super Contributor

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."
Message 12 of 29
Mega Contributor

Re: Thank you Discover....

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



EQ FICO 548 3/3/16
Message 13 of 29
Valued Contributor

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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Message 14 of 29
Super Contributor

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)
Message 15 of 29
Valued Contributor

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

Take the FICO Fitness Challenge
Message 16 of 29
Frequent Contributor

Re: Thank you Discover....

Discover didn't even report for me yet for August! Smiley Mad  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....
Message 17 of 29
Highlighted
Established Contributor

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 Smiley Wink
Message 18 of 29
Established Contributor

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 Smiley Wink
Message 19 of 29
Valued Contributor

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

 

As of 2017, rebuilding...
Message 20 of 29