topic Re: Disco graduation in Credit Cards

Disco graduation

sourpuss29 — Wed, 25 Mar 2020 14:08:24 GMT

Greetings!

Even though this is my first post, I have lurked here since last year. I opted to make this my introductory topic due to how much I've read on the subject.

I started my credit rebuilding journey in August of last year. Back then, I had no credit and wanted to get back into the cc card game. Since my score was only 542, I felt like I wouldn't qualify for a traditional one; so after doing extensive research, I decided to go with the Discover it secured card. (I applied for the lowest deposit amount of $200 on 11 Aug 2019 and was approved.)

I honestly do not use my card often; however, whenever I do make purchases, I always pay them off in full and never leave more than a 5 percent balance for reporting purposes. Since the 20th marked the day that my 7th statement cut, I was curious to see what--if anything--Discover would do with my account; and when I checked my email this morning, I had one from them stating that I'll be getting my deposit back, and that my limit has been increased to $1,250.

I think that whether someone's card is "graduated" ultimately depends on factors BEYOND the management of said account (e.g., number of inquiries and/or new accounts opened). Over the past 7 months, I have only opened one additional cc (Quicksilver), and I also have an installment loan. I took the loan out solely for the tradeline/boost to my scores); and since I didn't need the money, I'm using the funds I borrowed to make my monthly payments. I do not apply for anything if I feel as though I won't be approved; and because of that methodology, I only have 3 inquiries on my reports that correspond to the accounts I currently have open.

Reading the information in the myFico forums has helped me tremendously; and although I cannot name fonts specifically, I thank and appreciate everyone who has provided invaluable information that helped get me to where I am now.

Re: Disco graduation

JeffMO — Wed, 25 Mar 2020 14:35:04 GMT

Keep up the good work! It only goes up from there

Re: Disco graduation

Anonymous — Wed, 25 Mar 2020 14:40:04 GMT

Congrats! Mine graduated recently as well. I love disco! (And the Discover card too lol!)

also check out the promo they are running right now: 0% APR for 12 months of new purchases.

Since you graduated, you are eligible to do a product change (PC). I chose the 5% rotating categories. The new product (and card) start in your next billing cycle

good luck and great job rebuilding!!

Re: Disco graduation

newfossil — Wed, 25 Mar 2020 14:44:31 GMT

Congratulations!

Re: Disco graduation

AverageJoesCredit — Wed, 25 Mar 2020 15:03:05 GMT

Happy graduation!

Re: Disco graduation

FireMedic1 — Wed, 25 Mar 2020 17:31:09 GMT

Sweet!

Re: Disco graduation

AllZero — Wed, 25 Mar 2020 18:26:43 GMT

Congratulations on your graduation and CLI!

Re: Disco graduation

Mr_Mojo_Risin — Wed, 25 Mar 2020 19:00:19 GMT

Congrats on the graduation!!

Re: Disco graduation

19eighty5 — Thu, 26 Mar 2020 00:06:57 GMT

Congratulations!

Re: Disco graduation

19eighty5 — Thu, 26 Mar 2020 00:07:31 GMT

Congratulations on your card graduating!

Re: Disco graduation

Anonymous — Thu, 26 Mar 2020 00:49:55 GMT

@sourpuss29 wrote:
Greetings!

Even though this is my first post, I have lurked here since last year. I opted to make this my introductory topic due to how much I've read on the subject.

I started my credit rebuilding journey in August of last year. Back then, I had no credit and wanted to get back into the cc card game. Since my score was only 542, I felt like I wouldn't qualify for a traditional one; so after doing extensive research, I decided to go with the Discover it secured card. (I applied for the lowest deposit amount of $200 on 11 Aug 2019 and was approved.)

I honestly do not use my card often; however, whenever I do make purchases, I always pay them off in full and never leave more than a 5 percent balance for reporting purposes. Since the 20th marked the day that my 7th statement cut, I was curious to see what--if anything--Discover would do with my account; and when I checked my email this morning, I had one from them stating that I'll be getting my deposit back, and that my limit has been increased to $1,250.

I think that whether someone's card is "graduated" ultimately depends on factors BEYOND the management of said account (e.g., number of inquiries and/or new accounts opened). Over the past 7 months, I have only opened one additional cc (Quicksilver), and I also have an installment loan. I took the loan out solely for the tradeline/boost to my scores); and since I didn't need the money, I'm using the funds I borrowed to make my monthly payments. I do not apply for anything if I feel as though I won't be approved; and because of that methodology, I only have 3 inquiries on my reports that correspond to the accounts I currently have open.

Reading the information in the myFico forums has helped me tremendously; and although I cannot name fonts specifically, I thank and appreciate everyone who has provided invaluable information that helped get me to where I am now.

Congratulations!

Re: Disco graduation

Anonymous — Thu, 26 Mar 2020 18:43:01 GMT

@sourpuss29 wrote:
Greetings!

Even though this is my first post, I have lurked here since last year. I opted to make this my introductory topic due to how much I've read on the subject.

I started my credit rebuilding journey in August of last year. Back then, I had no credit and wanted to get back into the cc card game. Since my score was only 542, I felt like I wouldn't qualify for a traditional one; so after doing extensive research, I decided to go with the Discover it secured card. (I applied for the lowest deposit amount of $200 on 11 Aug 2019 and was approved.)

I honestly do not use my card often; however, whenever I do make purchases, I always pay them off in full and never leave more than a 5 percent balance for reporting purposes. Since the 20th marked the day that my 7th statement cut, I was curious to see what--if anything--Discover would do with my account; and when I checked my email this morning, I had one from them stating that I'll be getting my deposit back, and that my limit has been increased to $1,250.

I think that whether someone's card is "graduated" ultimately depends on factors BEYOND the management of said account (e.g., number of inquiries and/or new accounts opened). Over the past 7 months, I have only opened one additional cc (Quicksilver), and I also have an installment loan. I took the loan out solely for the tradeline/boost to my scores); and since I didn't need the money, I'm using the funds I borrowed to make my monthly payments. I do not apply for anything if I feel as though I won't be approved; and because of that methodology, I only have 3 inquiries on my reports that correspond to the accounts I currently have open.

Reading the information in the myFico forums has helped me tremendously; and although I cannot name fonts specifically, I thank and appreciate everyone who has provided invaluable information that helped get me to where I am now.

Congrats on your graduation!

Re: Disco graduation

Egaffne2 — Sun, 26 Apr 2020 02:06:40 GMT

"Since you graduated, you are eligible to do a product change (PC). I chose the 5% rotating categories. The new product (and card) start in your next billing cycle"

Actually, u don't have to be unsecured in order to product change to the 5% cash back card. I did it while my card was still secured. Just go to the online messenger or call them and request the change and it will be granted. I was still secured and 5 months in

Re: Disco graduation

recoveringfrombk7 — Sun, 26 Apr 2020 04:05:53 GMT

Woot woot

Re: Disco graduation

ScoreSizzle — Sun, 26 Apr 2020 20:47:03 GMT

Congrats! That's a nice jump in your CL.

Re: Disco graduation

mrcraft — Sun, 26 Apr 2020 20:59:15 GMT

Congrats! My Discover card started the same way...