topic Re: My discover has graduated I think? in Credit Cards

My discover has graduated I think?

Anonymous — Mon, 21 Nov 2016 15:47:48 GMT

I checked my account this morning and it has a credit limit of 700 which is higher then my secured limit was.

I've seen lots of people say theirs has graduated and they see a cli and thats how they know.

What happens now? I haven't gotten an email, do they alert me to this? do they send a check?

I also immediately asked for a Cli and got a $500 Cli and now I have a $1200 credit line, not bad as long as it lost its annual fee I'm happy.

Oh and it was my 7th month and 12 days after the statement cut.

Re: My discover has graduated I think?

Anonymous — Mon, 21 Nov 2016 15:57:36 GMT

I am not sure about Discover (I have unsecured with them), but my FNBO limit was raised back in July out of the blue, $150 over my secured amount. However mine JUST graduated this past Friday with FNBO. I have an email from them telling me as to that and my deposit to be refunded within 30 days.

Re: My discover has graduated I think?

joltdude — Mon, 21 Nov 2016 20:13:11 GMT

@Anonymous wrote:
I checked my account this morning and it has a credit limit of 700 which is higher then my secured limit was.

I've seen lots of people say theirs has graduated and they see a cli and thats how they know.

What happens now? I haven't gotten an email, do they alert me to this? do they send a check?

I also immediately asked for a Cli and got a $500 Cli and now I have a $1200 credit line, not bad as long as it lost its annual fee I'm happy.

Oh and it was my 7th month and 12 days after the statement cut.

Yep your card graduated...

You should get an email but they can be slow sending them out..

The fact that you could ask for a CLI without a deposit means it graduated......

Pretty sure the AF is cancelled automatically because you now have a regular unsecured Discover IT...

Just go talk with live chat support for the details...

And the 7th month.. its about right...

Congratulations!

-J

Congratulations. Im so excited to hear the good news and...

Anonymous — Mon, 21 Nov 2016 20:22:13 GMT

Congratulations. Im so excited to hear the good news and so early as well. Please let us know how long it takes to receive your deposit back.

Re: Congratulations. Im so excited to hear the good news and...

Anonymous — Mon, 21 Nov 2016 22:07:51 GMT

I havent called discover yet, but I did call BofA and they said that even though my card graduated it still has an annual fee so I need to call and make sure discover doesnt have one.

I was kinda upset BoA left the af and they said I could apply for a rewards card without an annual fee but they couldnt remove the one from this card...

Re: Congratulations. Im so excited to hear the good news and...

joltdude — Mon, 21 Nov 2016 23:02:33 GMT

You should be able to get the AF removed from the BoA card.. it might take some work. and calling someone a bit higher up than first level CSR...

Do search these forums for information about it....

Id also wait for your statement after unsecuring ... your not gonna get a refund for the first year... But heres one thread on the topic

http://ficoforums.myfico.com/t5/Credit-Cards/Any-way-of-converting-a-bank-of-america-secured-credit-card-to/td-p/4578116

-J

Re: My discover has graduated I think?

Anonymous — Mon, 21 Nov 2016 23:07:05 GMT

@Anonymous wrote:
I checked my account this morning and it has a credit limit of 700 which is higher then my secured limit was.

I've seen lots of people say theirs has graduated and they see a cli and thats how they know.

What happens now? I haven't gotten an email, do they alert me to this? do they send a check?

I also immediately asked for a Cli and got a $500 Cli and now I have a $1200 credit line, not bad as long as it lost its annual fee I'm happy.

Oh and it was my 7th month and 12 days after the statement cut.

Discover shouldn't have an annual fee so that shouldn't be a problem.

Congrats on your graduation!

Re: My discover has graduated I think?

joltdude — Mon, 21 Nov 2016 23:09:12 GMT

Secured Discovers *do* have an AF.. but im mostly sure once it converts they no longer charge the AF...

But I suggest chatting them up ... to confirm the OP's questions..

-J

Re: My discover has graduated I think?

Anonymous — Mon, 21 Nov 2016 23:11:10 GMT

@joltdude wrote:
Secured Discovers *do* have an AF.. but im mostly sure once it converts they no longer charge the AF...
But I suggest chatting them up ... to confirm the OP's questions..

-J

According to their informational page on their website, they have no annual fee. https://www.discover.com/credit-cards/secured/

Mine has no annual fee, and it'll have the 24th statement cut in 2 weeks.

Where is this annual fee coming from?

Re: My discover has graduated I think?

austinguy907 — Mon, 21 Nov 2016 23:26:04 GMT

Older secured cards may have one. They may have changed the terms since applying.

Re: My discover has graduated I think?

Anonymous — Tue, 22 Nov 2016 08:51:29 GMT

I opened my secured card 6.5 months ago and I have no AF. I think the older ones do before they improved their secured program but OP had his/hers one month longer than me-so they shouldn't have one. I was late on the bandwagon-took me a bit to decide if I wanted a secured card at the time just to get in with Discover.

Needless to say-Congrats OP

Re: My discover has graduated I think?

Anonymous — Tue, 22 Nov 2016 18:09:01 GMT

Maybe someone somewhere had an annual fee somewhere but as I said, mine's 2 years old (and secured) and doesn't have one and never did. I suppose that's neither here nor there and isn't really on topic to OP's post though.

It's awesome that people are getting unsecured very, very regularly now and hopefully mine will follow suit at some point.

Re: My discover has graduated I think?

joltdude — Tue, 22 Nov 2016 20:53:57 GMT

@Anonymous wrote:
Maybe someone somewhere had an annual fee somewhere but as I said, mine's 2 years old (and secured) and doesn't have one and never did. I suppose that's neither here nor there and isn't really on topic to OP's post though.

It's awesome that people are getting unsecured very, very regularly now and hopefully mine will follow suit at some point.

Actually its very much on-topic and relevant because if they have an AF, they want to know if its waived or no longer on the converted card where I said... very likely since regular discover cards do not have an AF...

Thank you for clarifying that Discover has done away with the AF on newer issued secure cards.. which is a good thing IMHO but we are talking about an older/legacy Discover Secured card which the OP had to pay an AF on... (I did not know they changed this.. my bad)

So the best thing to do is talk to their customer service and ask.... we can only speculate....

-J

Re: My discover has graduated I think?

Anonymous — Fri, 25 Nov 2016 21:40:26 GMT

@joltdude wrote:
@Anonymous wrote:
Maybe someone somewhere had an annual fee somewhere but as I said, mine's 2 years old (and secured) and doesn't have one and never did. I suppose that's neither here nor there and isn't really on topic to OP's post though.

It's awesome that people are getting unsecured very, very regularly now and hopefully mine will follow suit at some point.

Actually its very much on-topic and relevant because if they have an AF, they want to know if its waived or no longer on the converted card where I said... very likely since regular discover cards do not have an AF...

Thank you for clarifying that Discover has done away with the AF on newer issued secure cards.. which is a good thing IMHO but we are talking about an older/legacy Discover Secured card which the OP had to pay an AF on... (I did not know they changed this.. my bad)

So the best thing to do is talk to their customer service and ask.... we can only speculate....
-J

When was this annual fee, is my question?

OP's card is 7 months old. My card is 24 months old. Mine is more than 3 times older and I don't have an annual fee and their website states that there is no annual fee. So was there some weird period of time when annual fees were charged sometime between when I got mine and when OP got theirs that I don't know about?

Re: My discover has graduated I think?

Anonymous — Fri, 25 Nov 2016 22:48:29 GMT

Your card definitely graduated. Mines graduated a week ago and I found out by noticing a CLI also. I still havent recieved the email. However I did confirm it by chat.

My card finally graduated after 26 months! So hopefully yours will graduate soon Michikade.

As far as the annual fee, I've never had one. Neither has anyone else. That was the main reason people were going bananas over getting the secured Discover card besides a few of the other perks. The secured Discover card does not have a annual fee. Not even the Legacy/Older one.

Re: My discover has graduated I think?

joltdude — Sat, 26 Nov 2016 00:49:25 GMT

Im out of this thread... Tired of being called a liar..

Op had an AF on the DIscover... and folks in the past have...

It may have been similar to the offers on Cap One or even subprime cards being different/targeted with fees...

Thanks for being less than FSR

Good luck all of you

-J

Re: My discover has graduated I think?

joltdude — Sat, 26 Nov 2016 00:50:02 GMT

Im out of this thread... Tired of being called a liar..

Op had an AF on the DIscover... and folks in the past have...

It may have been similar to the offers on Cap One or even subprime cards being different/targeted with fees...

Thanks for being less than FSR

Good luck all of you

-J

Re: My discover has graduated I think?

Anonymous — Sat, 26 Nov 2016 01:21:44 GMT

@joltdude wrote:
Im out of this thread... Tired of being called a liar..
Op had an AF on the DIscover... and folks in the past have...
It may have been similar to the offers on Cap One or even subprime cards being different/targeted with fees...

Thanks for being less than FSR

Good luck all of you

-J

No one is calling you a liar or even attempting to personally attack you. MyFico is a forum where people come and spread their knowledge,experience and opinions. Noone should be taking anything personal... Geesh! lol