topic Re: Discover Graduation Process in Credit Cards

(Update) Discover Graduated

Shadowfactor — Fri, 05 Jan 2018 06:35:13 GMT

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

Re: Discover Graduation Process

Adkins — Wed, 03 Jan 2018 16:52:55 GMT

@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?

Re: Discover Graduation Process

Shadowfactor — Wed, 03 Jan 2018 18:18:24 GMT

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.

Re: Discover Graduation Process

mysterythemoon — Wed, 03 Jan 2018 21:54:50 GMT

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.

Re: Discover Graduation Process

Anonymous — Wed, 03 Jan 2018 23:01:33 GMT

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.

Re: Discover Graduation Process

Adkins — Wed, 03 Jan 2018 23:01:43 GMT

@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!)

Re: Discover Graduation Process

Anonymous — Wed, 03 Jan 2018 23:05:33 GMT

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.

Re: Discover Graduation Process

Adkins — Wed, 03 Jan 2018 23:36:43 GMT

@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!

Re: Discover Graduation Process

Shadowfactor — Thu, 04 Jan 2018 03:13:01 GMT

Adkins.

When was your 7th statement ?

Re: Discover Graduation Process

Adkins — Thu, 04 Jan 2018 16:24:50 GMT

@Shadowfactor wrote:
Adkins.

When was your 7th statement ?

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

Re: Discover Graduation Process

Shadowfactor — Thu, 04 Jan 2018 17:35:14 GMT

The score normally updates 1-2 days before your cycle closes. It’s been like that for me since day 30ish.

Still haven’t graduated or seen any signs of a auto CLI. Giving up hope for this month.

Probably going to only use it for the bonus quarters until it graduates. I don’t have the time to micro manage that $200 limit with working picking up. And I can’t charge hardly anything on it with that limit.

Re: Discover Graduation Process

Adkins — Thu, 04 Jan 2018 18:05:11 GMT

It's only been two days since your statement cut. I wouldn't write it off until at least a week has passed.

Re: Discover Graduation Process

Shadowfactor — Fri, 05 Jan 2018 06:37:29 GMT

Just checked the app tonight.

Had to verify my login with a code when I clicked the CLI button. Verified it and the CLI page appeared for income and stuff.

No auto CLI, still at $200.

I did graduate though.

Tried for a CLI. Was declined. Going to try again tomorrow or maybe next week depending on the feedback I get.

Does Discover need time to process this on their end before the CLI button works.

The $200 limit is a pain in the arse.

Re: Discover Graduation Process

Anonymous — Fri, 05 Jan 2018 11:27:52 GMT

Congrats on the graduation!

Re: Discover Graduation Process

Shadowfactor — Fri, 05 Jan 2018 13:51:51 GMT

Called discover to try to recon the CLI increase. Was told that I don’t have enough time managing my current $200 limit. Oh well I guess. 5% only spend here I come since it’s too small of a limit for anything else.

It’s a shame really. I like discover too so I would have happily made this my daily driver for a bit.

Re: Discover Graduation Process

Anonymous — Fri, 05 Jan 2018 13:54:05 GMT

SP CLIs are free with Discover, so just try every 2-4 weeks.

Honestly, this is a good warning to others who have a secured Discover card. They let you increase your secured limit up to $2500 by depositing more money, and the graduation at 7 months is pretty consistent. So starting at $200 and then increasing it $100 a week every week for 6+ months gets you the maximum secured limit and hopes of getting that cash back at graduation.

Too late for you, unfortunately, but something for others to keep in mind.

Re: Discover Graduation Process

Adkins — Sat, 06 Jan 2018 05:21:25 GMT

@Shadowfactor wrote:
Just checked the app tonight.

Had to verify my login with a code when I clicked the CLI button. Verified it and the CLI page appeared for income and stuff.

No auto CLI, still at $200.

I did graduate though.

Tried for a CLI. Was declined. Going to try again tomorrow or maybe next week depending on the feedback I get.

Does Discover need time to process this on their end before the CLI button works.

The $200 limit is a pain in the arse.

Congratulations!

Re: Discover Graduation Process

Anonymous — Tue, 16 Jan 2018 03:10:18 GMT

I don't get it.,...I started with a TU score of 525 when I got my car loan it shot up 55 points. But since then it keeps going up and down . Iam trying to reach at least a 650 so I can get a loan for a house. Right now my score is 589 what am I doing wrong ....plz someone help?

Re: Discover Graduation Process

Anonymous — Tue, 16 Jan 2018 03:13:06 GMT

@Anonymous wrote:
I don't get it.,...I started with a TU score of 525 when I got my car loan it shot up 55 points. But since then it keeps going up and down . Iam trying to reach at least a 650 so I can get a loan for a house. Right now my score is 589 what am I doing wrong ....plz someone help?

I'd start a new thread but chances are your reported utilization is too high and you have negative tradelines reporting.

Re: (Update) Discover Graduated

Anonymous — Tue, 16 Jan 2018 03:37:53 GMT

@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 ?
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

When/if a card graduates is so profile specific. It can happen in six months, take a year, two years, or sometimes never. But the average seems to be a year. They usually send an email or a letter when it graduates. Be patient and you can always call and see what they say. My advise is patience. It will happen. Good luck :-)