Which type of unsecured card does discover unsecured upgrade to?

[Subexistence]

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@creditguy wrote:

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@Subexistence wrote:

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@austinguy907 wrote:

It should convert to whatever the current "student" offering is at the time of conversion.  Now if you can after conversion switch it to a normal non-student version you would be poised for more growth than you will see on the student version.  

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How do I get non-student version?

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Simply hop on chat and ask to change your cards reward structure from the chrome to the regular it card. I did it myself and it took all of five minutes. 

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Done just that. Tbh IT card is generally way better.

[creditguy]

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@Subexistence wrote:

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@creditguy wrote:

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@Subexistence wrote:

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@austinguy907 wrote:

It should convert to whatever the current "student" offering is at the time of conversion.  Now if you can after conversion switch it to a normal non-student version you would be poised for more growth than you will see on the student version.  

---

How do I get non-student version?

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Simply hop on chat and ask to change your cards reward structure from the chrome to the regular it card. I did it myself and it took all of five minutes. 

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Done just that. Tbh IT card is generally way better.

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agreed

[Anonymous]

Wow. You guys are awesome. I had no idea changing the rewards structure on the Secured card was even possible. Sure enough, it got it done in a few minutes while having my morning coffee. 

I only wish I'd done it sooner. It doesn't take effect until 2 days after Christmas, but I'm excited to have it in place for the 2017 5% calendar.

Oh dear, I see that the 1st quarter of 2017 includes Wholesale Clubs! I spend about $4000 a month at Sam's, so the It/Freedom combo will be sweet. Hoping Freedom does multiple quarters at Wholesale again. The $200 limit kind of stinks, but I've found ways to squeeze almost $700 on that thing in a month, so $1500 in a quarter shouldn't be a problem (though I might actually up the deposit to make it a little easier).

[Subexistence]

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@Anonymous wrote:

Wow. You guys are awesome. I had no idea changing the rewards structure on the Secured card was even possible. Sure enough, it got it done in a few minutes while having my morning coffee. 

I only wish I'd done it sooner. It doesn't take effect until 2 days after Christmas, but I'm excited to have it in place for the 2017 5% calendar.

Oh dear, I see that the 1st quarter of 2017 includes Wholesale Clubs! I spend about $4000 a month at Sam's, so the It/Freedom combo will be sweet. Hoping Freedom does multiple quarters at Wholesale again. The $200 limit kind of stinks, but I've found ways to squeeze almost $700 on that thing in a month, so $1500 in a quarter shouldn't be a problem (though I might actually up the deposit to make it a little easier).

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Congrats

[austinguy907]

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@Anonymous wrote:

Oh dear, I see that the 1st quarter of 2017 includes Wholesale Clubs! I spend about $4000 a month at Sam's, so the It/Freedom combo will be sweet. Hoping Freedom does multiple quarters at Wholesale again. The $200 limit kind of stinks, but I've found ways to squeeze almost $700 on that thing in a month, so $1500 in a quarter shouldn't be a problem (though I might actually up the deposit to make it a little easier).

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If you're going to chase down Sam's 5% then you definitely want to max out your secured limit to $2500 if possible to maxmize keeping your utilizartion within reason.  For the reasoning behind me saying this you might want to take a look at this and take it into account.  http://ficoforums.myfico.com/t5/Credit-Cards/Discover-unOfficial-Data-Points/td-p/4802538

[Anonymous]

I had considered that, austinguy, but I think upping the deposit to $400-500 is about as far as I'm willing to go. 

I know that Discover may not like that sort of behavior, and doing so may delay graduation and/or make CLI's more difficult when it does graduate. But I'm fine taking that chance. The limits on my other cards (DC, Freedom, BOA) are high enough for my spending for right now (I'd like them higher, but they are perfectly usable).

I'm just going to be very conservative on the amount of deposit I let Discover hold not having any idea when I might get it back. I'm only going to deposit what I absolutely need to hit that $1500 quarterly spend. 

$300 would likely be plenty for me. I need to get $500 a month on the card. That's a pair of $250 purchases. My Sam's purchases range from $150 to $700 at a time. So, making the right purchases on the Discover (or even breaking a single purchase up on 2 cards) and putting the rest on the other cards will get me to the $1500. This won't require any change in behavior.

I currently pay every CC transaction as soon as it posts, and doing that keeps my utilization low. I spend at least $300 on the $200 Discover every month, and up to almost $700, but I've never left more than $5 showing for the statement. Same story with the other cards, just bigger numbers.

I have no idea how Discover will feel about this plan, but that's up to them.