topic Re: Discover IT Secured Graduation and CLI! in Credit Cards

Discover IT Secured Graduation and CLI!

Anonymous — Fri, 10 Nov 2017 05:33:46 GMT

Super excited! Applied for Discover It Secured on April 2nd '17, and on November 7th, my newest 7th statement cut! I waited, but nothing happened the 7th, and waited all of Nov. 8th, but still wasn't unsecured. Woke up this morning on the 9th, still no email, logged on to Discover and had the same $2500 limit, but checked the CLI section on the website, and WAM, had the option to apply for a CLI! Added my info, and received a CLI of $1500 to $4000! Called in to the backdoor number 800-347-4856 to try to double-dip, but it required a hard pull. Regardless, still haven't received notification of unsecuring, but so glad it happened in two days, as any longer would have killed me wondering!
EDIT: Just got the email on the 10th saying deposit is released!

This (un)secured card has now become my second largest line! Can't wait to extend more lines over $5K to join my lonely Amex BCE @ 12K!

Re: Discover IT Secured Graduation and CLI!

Anonymous — Thu, 09 Nov 2017 13:55:42 GMT

Wow congrats! I was also graduated at $2500 but CLI was denied -- what's your TU 08?

Re: Discover IT Secured Graduation and CLI!

Anonymous — Thu, 09 Nov 2017 14:04:17 GMT

My TU 08 is currently 769 (soared from 745 after my Amex BCE CLIed from $4K -> $12K!).

Every month I only spent around 1.99 on the card (for the free balance cancellation). The last billing cycle, I ran $1200 through the card, paid it off the day it posted. This might have helped my CLI as well, as I ran half my credit line and was able to pay it off.

Re: Discover IT Secured Graduation and CLI!

Adkins — Thu, 09 Nov 2017 15:13:18 GMT

Congratulations on graduation and your CLI!

Re: Discover IT Secured Graduation and CLI!

AverageJoesCredit — Thu, 09 Nov 2017 15:15:19 GMT

Congrats on grad and your cli You dont have to be lonely at 12k Amex dot com

Re: Discover IT Secured Graduation and CLI!

Anonymous — Thu, 09 Nov 2017 15:23:02 GMT

@Anonymous wrote:
My TU 08 is currently 769 (soared from 745 after my Amex BCE CLIed from $4K -> $12K!).

Every month I only spent around 1.99 on the card (for the free balance cancellation). The last billing cycle, I ran $1200 through the card, paid it off the day it posted. This might have helped my CLI as well, as I ran half my credit line and was able to pay it off.

Wow that's a huge increase in FICO -- I wonder if you also passed out of the new account penalty by chance (6 months after opening/reporting most recent new account). Or did you have a big aggregate utilization drop (say from 30% down to 8% total utilization)?

When I did my CLI request, Discover used the old soft pull from the prior month (650 TU) when my TU the day of the pull was 698. So for me it's pretty much correct that they denied me but I'm 4ish days from my next statement cut and I'm hoping my Discover TU FICO is updated by then. Says it updates the 7th of each month but it doesn't show a new score until some time after.

Re: Discover IT Secured Graduation and CLI!

Anonymous — Thu, 09 Nov 2017 17:38:32 GMT

The main reason I got the secured card was not because of my credit (though my file was extremely thin 1.5 years ago when I applied unsecured, with only one AU card 6 months old). Rather, it was because I was a high schooler who couldn't apply for the student card due to necessary college verification, but I also only had about $8000 in income, so I was rejected for the unsecured card.

Almost a year later after building my credit, I decided that I had money in the bank to fuel a secured card, so I gave Discover my deposit in the hopes that it would open the door with them and start aging my second account on my CR.

Yeah, I made several modifications in the last month and a half

1) Switched from having 5 accounts report @ $.99 each to AZEO, with only my Cap1 reporting a balance @$.99

2) Increased the credit limit on most of my cards, doubling most: Citi: 2K->3.5K SP, BoA: $900->1.5K HP, AMEX: $4K->$12K SP

Other than that, I did have my Discover HP on TU for the Secured IT hit 7 months old, and I think the formula starts to care a lot less about it after 6 months.

But good luck on securing that CLI! I'm hoping to follow a guide I found on here stating that applying every other month maximizes the CLIs vs. applying every 30 days.

Re: Discover IT Secured Graduation and CLI!

Anonymous — Fri, 10 Nov 2017 03:17:00 GMT

Does anyone have any data points I opened my card on aug 6th with 200 I have heard a lot of cards graduating so I was thinking about putting some more money on it but does that affect the graduation date

Re: Discover IT Secured Graduation and CLI!

Anonymous — Fri, 10 Nov 2017 03:25:43 GMT

Limit has little to do with graduation date. It mostly has to do with utilization on each of your credit accounts and your credit score at the time of the 7th statement cut. Keep your utilization low is a must. For my card, I started with $200 CL, but within 10 days raised it to $2500 to keep utilization low.

Statements 1-5:
Spent $150 each month, let $1.99-$30 report
Statement 6:
Spent $5, let $1.99 report
Statement 7:
Spent $1,200, let $0 report, unsecured 2 days later.
TU at graduation: 759

Re: Discover IT Secured Graduation and CLI!

Anonymous — Fri, 10 Nov 2017 03:49:29 GMT

Limit has no effect.

I was at $2500 secured. Some months I put $8000 through the card with many PIF during one month.

Secured at almost exactly 7 months. 6 statements for me.

Re: Discover IT Secured Graduation and CLI!

Anonymous — Fri, 10 Nov 2017 04:07:21 GMT

I know limit really don’t have anything to do with it just diddnt know about adding money 3 months into the card if that resets the 7 months or what I just want to add money and have to wait another 7 months but I also want it to have a decent cl when it graduates

Re: Discover IT Secured Graduation and CLI!

Anonymous — Fri, 10 Nov 2017 04:14:55 GMT

I imagine 3 months in will not affect anything like timers, etc. Adding now would give them the most time to analyze your spending, so it'd pull the trigger now and reap the benefit IMO. For me, I wasn't worried about having the money tied up, and I knew my FICO would be high 700s at the end of the period. If your FICO is on the lower range, maybe think about if you would need the money for, say, 12 months?