topic Re: Discover Graduation. in Credit Cards

Discover Graduation.

Anonymous — Thu, 12 Oct 2017 07:33:00 GMT

I started rebuilding back in April. I was approved for a $2500.00 secured card. I had 11, 12, and 12 collections on my credit reports. Now I'm down to 1 collection on trans union, and 2 collections on experian and equifax. I used the card a lot but I never had a balance over 100.00. Paid in full 3 or 4 times a month. Do you guys thing these collections will keep my card from graduating next statement.

Re: Discover Graduation.

Anonymous — Thu, 12 Oct 2017 14:16:01 GMT

Hello there. I doubt it. I had my secured Discover for 5 months, with just a $200 limit. I have been monitoring my scores carefully and cleaning up baddies. I've just 4 left now. Right at the 5 month mark, graduated to $2500 limit, unsecured. I'd clean up the baddies as soon as you can, but mostly keep paying your balance in full and keep your util low to get graduated. You'll get there soon

Re: Discover Graduation.

Anonymous — Thu, 12 Oct 2017 17:02:46 GMT

I had a public collections on my account. I'm at 5 months on my Discover as of October 1st but haven't seen any hint of graduation yet.

Re: Discover Graduation.

Anonymous — Thu, 12 Oct 2017 17:07:58 GMT

Much more common for graduation after 7 statements but a few have gotten it earlier.

Re: Discover Graduation.

Austrausky — Fri, 13 Oct 2017 01:07:03 GMT

Graduation isn't a guaranteed thing, but I would say keep doing what you are doing. I'm 19 months in with $2,000 on deposit, never late, low util, and have been actively cleaning up baddies from my report but have not seen any movement from Discover to graduate my account. I'm not in a hurry, either -- the key is to keep all accounts low util or PIF and keep cleaning up.

Re: Discover Graduation.

Anonymous — Fri, 13 Oct 2017 22:28:40 GMT

Nope. I am living proof. Got mines graduated last week and got my deposit back in 3 days. I have 6 collections on TU 11 on EQ and 3 on EX and student loans that was defaulted on. Didn't stop me from getting my card graduated. I tried for an increase but they decline me. TU score is 643 btw

Re: Discover Graduation.

Anonymous — Fri, 13 Oct 2017 22:31:00 GMT

I got my card graduated after 6 months. Wasn't expecting it. I used mines heavily though but always keep the balance low for the most part. My deposit was 1500.

Re: Discover Graduation.

AverageJoesCredit — Sat, 14 Oct 2017 02:00:45 GMT

The Discover dilema. Many times those expecting grad dont get it those who dont expext it do. Discover isnt happy unless it plays with our emotions

Re: Discover Graduation.

joltdude — Sat, 14 Oct 2017 02:06:17 GMT

@Austrausky wrote:
Graduation isn't a guaranteed thing, but I would say keep doing what you are doing. I'm 19 months in with $2,000 on deposit, never late, low util, and have been actively cleaning up baddies from my report but have not seen any movement from Discover to graduate my account. I'm not in a hurry, either -- the key is to keep all accounts low util or PIF and keep cleaning up.

Think somewhere in the 640s for TU is a magic number ..... but as always YMMV

-J

Re: Discover Graduation.

Anonymous — Thu, 19 Oct 2017 21:48:28 GMT

You gotta use that card a lot and pay it down to have it graduate.

Re: Discover Graduation.

Anonymous — Thu, 19 Oct 2017 21:54:00 GMT

I graduated this Monday, 6th statement but 7 months due to missing a statement after a due date change.

Check came in the mail today. Digital deposit and 15 minutes later $2500 more in my checking account!

Not even sure what to do with the cash now because I'm past the point of more secured cards. My plan originally was to do another high limit secured card. I like it when plans don't go as expected sometimes.

Re: Discover Graduation.

Anonymous — Thu, 19 Oct 2017 21:55:33 GMT

Forgot to mention I have an unpaid tax lien on TU and they still graduated me. I also had an unpaid collection on TU when they last pulled my free TU FICO.

Re: Discover Graduation.

Anonymous — Thu, 19 Oct 2017 23:27:21 GMT

I talked with a lady at discover today. She said my account is up for review November 2nd. We'll see. I've used it very heavy, but payed it off 4 or 5 times every month.

Re: Discover Graduation.

Anonymous — Fri, 20 Oct 2017 00:35:00 GMT

I used mine heavily. Paid it off 3-5 times a month sometimes more.

Last month I reported utilization for the first time ever due to Irma/no internet so obviously a high utilization didn't prevent graduation, neither did high usage, neither did high payment frequency.

Even used Plastic twice (had free affiliate credits) and even paid property taxes with it (mostly because I was out of town that month and had no clue they were due a month early this year so the 3% late fee covered the 2% payment fee and I'll get it in cash back match anyway).

Nothing I did seemed to halt graduation. I maxed it out all the time, too (never reported maxed out at statement cut tho).

Itching to push the luv button but will wait a week from graduation.

Re: Discover Graduation.

Anonymous — Fri, 20 Oct 2017 00:40:09 GMT

Good for you, that's great. Let us know how the luv button treats you. CONGRATS!!!

Re: Discover Graduation.

tschaet — Tue, 07 Nov 2017 14:35:20 GMT

I've had mine since 2/16 and it still has not graduated. Since then my Fico has increased 100 points and my TU is currently 654. On my TU credit report I currently have:

--2 Settled-Less Than Full Credit Cards
--1 Paid in Full Credit Card
--1 30 day Car Loan Late Payment
--1 120, 1 90, 1 60, and 1 30 day late payments on my student loan that was rehabbed and are supposed to be gone. Waiting for TU to fix it.

Re: Discover Graduation.

Anonymous — Tue, 07 Nov 2017 14:41:41 GMT

When was your last reported late payment (meaning most recent)?

Re: Discover Graduation.

tschaet — Tue, 07 Nov 2017 14:43:51 GMT

9/2015 with Santander for my car. I tried to get it removed, and they are not budging.

I forgot to mention that I do use and pay off the Discover card monthly before the statement.

Re: Discover Graduation.

Anonymous — Tue, 07 Nov 2017 14:46:11 GMT

Very weird that they haven't graduated. Something might be spooking them!

Any of the following happen to you ever with Discover?

You included them in bankruptcy (IIB) or had a chargeoff with them (CO)?
You missed a payment due date but were not 30 days late?
A payment you made was returned to them as unpaid?
You went overlimit (once or numerous times)?
You use the card frequently for cash advances?
Called their CSR and acted mean/complained/threatened to close accounts/etc?

Just curious -- I have no data points on any of these, I just figured maybe you are a risky borrower based on what they see directly?

Re: Discover Graduation.

Anonymous — Thu, 09 Nov 2017 01:45:46 GMT

I called the CSR and was told it hadn't secured. I logged on to my account today and the mobile app looked different. I went to chat and was told my deposit had been mailed 11/5/17. My account did graduate one day after 7th statement closed. I read a lot but seldom post here. Hope it's in the right place.