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Moderator Emeritus
Posts: 10,932
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 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
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Super Contributor
Posts: 5,277
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
Posts: 15,442
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
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
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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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Super Contributor
Posts: 5,277
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
Posts: 2,857
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
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
Posts: 912
Registered: ‎06-14-2012
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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
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Established Contributor
Posts: 912
Registered: ‎06-14-2012
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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
Posts: 2,110
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

 

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






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