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(Update) Discover Graduated

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Shadowfactor
Valued Contributor

(Update) Discover Graduated

I’ve been researching on the forums quite a bit but keep finding different answers so I figured i’d Ask.

How long does graduation take once the statement cuts ?
What signs are there that my account graduated ?

The 2nd was my 7th statement cut date. My card converted to the regular IT card as I requested but I haven’t seen a credit line increase as some members posted. The credit line increase button still takes me to that secured page.

Stats:
649 FICO 8 from 12/27 TU.
Limit : $200
Never carried a balance on the account, and always PIF. Mainly I would pay as soon as charges posted since the credit line was so low.
Charged anywhere between 900 on the card to 25 bucks each month. Averaged around $350-400 a month in charges.

No late/returned payments what so ever.

Update!
statement cut 1/2
graduated 1/5 at 1:22 am.
Confirmed via chat.
CLI page appeared, still no email or auto CLI as of yet.
Still at $200 CLI
Tried the CLI button. Denied for a CLI. Going to try again tomorrow or maybe next week after things process on their end




Total Revolving Limits $254,800

Message 1 of 29
28 REPLIES 28
Adkins
Legendary Contributor

Re: Discover Graduation Process


@Shadowfactor wrote:
I’ve been researching on the forums quite a bit but keep finding different answers so I figured i’d Ask.

How long does graduation take once the statement cuts ? 3-7 days after statement cuts - it seems to vary
What signs are there that my account graduated ? Email congratulating you & they're sending your deposit back. Or you log in and it shows a higher limit or the limit is unsecured. 

The 2nd was my 7th statement cut date. So was mine, but a statement hasn't actualky posted yet nor has an updated FICO score. I don't expect anything to potentially happen until it does. My card converted to the regular IT card as I requested but I haven’t seen a credit line increase as some members posted. The credit line increase button still takes me to that secured page. You won't get a regular CLI button until it unsecures.

Stats:
649 FICO 8 from 12/27 TU.
Limit : $200
Never carried a balance on the account, and always PIF. Mainly I would pay as soon as charges posted since the credit line was so low.
Charged anywhere between 900 on the card to 25 bucks each month. Averaged around $350-400 a month in charges.

No late/returned payments what so ever.

How much has your score improved? What's the rest of your profile looking like? Baddies? Utilization? Etc?


Last HP 08-07-2023



Message 2 of 29
Shadowfactor
Valued Contributor

Re: Discover Graduation Process

My FICO score has improved right around 100 points since I got the card.

Util : always kept it under 9% mainly has sat right around 1-3%

3 collections. Started out with 6 when I first got the card.

Several new accounts.




Total Revolving Limits $254,800

Message 3 of 29
mysterythemoon
Regular Contributor

Re: Discover Graduation Process

It took them roughly a year for them to graduate me from the $200 Secured to regular verison. They had me at a 677 Fico at that time, and since getting the card, but before it graduated, I got the Chase Sapphire prefered for 5k, NFCU for 1.7k and Amex for 1.4k. Also, when it graduated I got a check from them for $200 and they tripled my CL to $600. Be patient with them. The fact that they are a lot of people's first foray into credit or rebuilding is a double edged sword. The fact that they accepted me 18 months ago with 400 FAKO scores and tons of baddies was awesome. Then I managed to get rid of all of the baddies and got some positive reporting going. But I know a lot of people in a similar situation as me have seen Disco be painfully slow with CLI's. The weird thing is that had I strictly started rebuilding with only the Cap1 secured and today tried to get a Discover, I'm sure they'd be all over me with a huge limit. But the fact that people are starting out with them as a secured card sticks with Discover for a while, and they are very cautious. 

Started on July 4th, 2016 with 400's FAKO scores, no FICO, a dozen baddies and no credit of any kind.

As of March 2018, Before The Fall:
AmEx Blue Cash Everyday: $12,600
Chase Sapphire Preferred: $10,000
Bank Of America BankAmericard: $6,000
Capital One Quicksilver One: $5,500
Citi Diamond Preferred: $5,400
NFCU Cash Rewards Visa Signature: $5,100
NFCU Go Rewards MasterCard World: $5,000
Wells Fargo Propel: $3,500
Barclay's Uber Visa: $2,500
AmEx Starwood Preferred Guest: $2,000
Citi Double Cash: $1,500
AmEx Hilton Honors: $1,000
Discover It: $600
Capital One Platinum: $500

TOTAL 2018 CREDIT LINE: $61,200

JUNE 2023 UPDATE
2020: COVID toppled me. All old accounts went into default. Business lost. Car repossessed.
2021: Cap1 let me back in (one secured/two not). Secured Mission Lane. AU on AMEX Gold, Citi Premier and Chase Sapphire. Car loan approved without cosigner for $20,000. All current.
Currently: No lawsuits. Thinking most SOL have expired on CC debt. Fingers crossed my math and memory are correct.

CURRENT SITUATION:
Mission Lane Secured: $3,400 (SL $400 -- unasked for CLI)
Capital One Secured: $300
Capital One QS1: $300
Capital One Savor: $1,000
Chase Sapphire Preferred: $10,000 (AU)
AMEX Gold: No Preset Limit (AU)
Citi Premier: $8,500 (AU)

SPRING 2026
ALL BADDIES DROP
Message 4 of 29
Anonymous
Not applicable

Re: Discover Graduation Process

My Discover card secured pretty much at 7 months (maybe +1 day?) but I was only at 6 statements because I had changed my due date which made me skip an entire month statement.

 

I did NOT get any credit limit increase on graduation or any time after -- $2500 was my secured limit, $2500 was my graduation limit, and now 3 months later still at $2500 with SP CLI denials like clockwork.  I do still use the card for all my general spend and put sometimes $10,000 through it on busy travel planning months for the 2% cashback match.  I think once I back off using the card they'll probably CLI me lol.

 

Even if you don't get a CLI at graduation, just wait until your Discover FICO is updated and do a SP CLI request.  I tried my first about a week or so after graduation and 6th statement cut.

Message 5 of 29
Adkins
Legendary Contributor

Re: Discover Graduation Process


@Shadowfactor wrote:
My FICO score has improved right around 100 points since I got the card.

Util : always kept it under 9% mainly has sat right around 1-3%

3 collections. Started out with 6 when I first got the card.

Several new accounts.

We'll both going to have to wait and see what they do! (I think that's great improvement, but it's not up to me!)


Last HP 08-07-2023



Message 6 of 29
Anonymous
Not applicable

Re: Discover Graduation Process

My TU FICO went up over 150 points from when I got my IT Secured (around 550) to now (701) and no CLI love.  Discover is definitely NOT just FICO based for credit limits -- I know at least 3 folks with secured->graduated IT cards who now have higher limits than I do with way lower FICO8 TU scores according to Discover's free pull monthly.

Message 7 of 29
Adkins
Legendary Contributor

Re: Discover Graduation Process


@Anonymous wrote:

My TU FICO went up over 150 points from when I got my IT Secured (around 550) to now (701) and no CLI love.  Discover is definitely NOT just FICO based for credit limits -- I know at least 3 folks with secured->graduated IT cards who now have higher limits than I do with way lower FICO8 TU scores according to Discover's free pull monthly.


Exactly! 


Last HP 08-07-2023



Message 8 of 29
Shadowfactor
Valued Contributor

Re: Discover Graduation Process

Adkins.

When was your 7th statement ?




Total Revolving Limits $254,800

Message 9 of 29
Adkins
Legendary Contributor

Re: Discover Graduation Process


@Shadowfactor wrote:
Adkins.

When was your 7th statement ?

It actually doesn't cut until tomorrow, I looked this morning. MyFICO score updated already though. 


Last HP 08-07-2023



Message 10 of 29
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