topic Re: Discover It Secured Question. in Credit Cards

Discover It Secured Question.

ddamage — Mon, 18 May 2020 13:41:10 GMT

Hello Fam.

I always read here on the forums about how wacky Discover can be but I have had a 1000 dollar secured card since Feb 2019 and still haven't graduated. My FICO TU score is 644 which isnt high but my others are 678 and 667. Heck Penfed just gave me a 17.5k CC a month ago and Wayfair 4500 but not my Discover. I called last month but they said it was a computer decision thing. Should I call back and ask to speak to someone? Thanks in advance.

Re: Discover It Secured Question.

Remedios — Mon, 18 May 2020 13:50:06 GMT

Did you ever have a late payment with them, even if it wasn't 30 day late?

What was your score when you got approved? Do you have other debt on your CR that's not going down?

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 13:56:48 GMT

@Remedios wrote:
Did you ever have a late payment with them, even if it wasn't 30 day late?
What was your score when you got approved? Do you have other debt on your CR that's not going down?

No sir. I havent been late on anything over the last 3-4 years. I don't recall my score when I got the secured card.

Re: Discover It Secured Question.

Remedios — Mon, 18 May 2020 14:00:04 GMT

I guess you could call and talk to someone. I dont know if CSR would be able to shed any light on your situation because what you've been told is true, algorithm decides when, but it cant hurt to ask.

Hold times might be really long, so chat might be a better option for you.

Re: Discover It Secured Question.

PutThatMoneyOnTheTable — Mon, 18 May 2020 14:01:34 GMT

@Remedios sir? Hey mister?

@ddamage Remedios is a madam.

But there could be a number of reasons why your discovered haven't graduated.its not only based on scores and ontime payment with their card.they look at your overall report such as high balances on other cards, credit seeking behavior.

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 14:01:57 GMT

Gracias!

Re: Discover It Secured Question.

Remedios — Mon, 18 May 2020 14:03:13 GMT

@PutThatMoneyOnTheTable wrote:
@Remedios sir? Hey mister?

@ddamage Remedios is a madam.
But there could be a number of reasons why your discovered haven't graduated.its not only based on scores and ontime payment with their card.they look at your overall report such as high balances on other cards, credit seeking behavior.

Ha! I'm so used to it, I dont notice it any longer

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 14:03:48 GMT

@PutThatMoneyOnTheTable wrote:
@Remedios sir? Hey mister?

@ddamage Remedios is a madam.
But there could be a number of reasons why your discovered haven't graduated.its not only based on scores and ontime payment with their card.they look at your overall report such as high balances on other cards, credit seeking behavior.

Ok thank you. UTI is like at 22%. tu 644, eq678, ex667.

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 14:05:15 GMT

@Remedios wrote:
@PutThatMoneyOnTheTable wrote:
@Remedios sir? Hey mister?

@ddamage Remedios is a madam.
But there could be a number of reasons why your discovered haven't graduated.its not only based on scores and ontime payment with their card.they look at your overall report such as high balances on other cards, credit seeking behavior.
Ha! I'm so used to it, I dont notice it any longer

My apologies @Remedios perdon. hehe

Re: Discover It Secured Question.

Adkins — Mon, 18 May 2020 14:18:38 GMT

@ddamage wrote:
@PutThatMoneyOnTheTable wrote:
@Remedios sir? Hey mister?

@ddamage Remedios is a madam.
But there could be a number of reasons why your discovered haven't graduated.its not only based on scores and ontime payment with their card.they look at your overall report such as high balances on other cards, credit seeking behavior.
Ok thank you. UTI is like at 22%. tu 644, eq678, ex667.

Maybe your utilization? It's that overall utilization? Or is it concentrated on one or a few cards?

Re: Discover It Secured Question.

Remedios — Mon, 18 May 2020 14:19:05 GMT

@ddamage haha dont worry about it.

It's either user name, or I sound like a dudebro.

I might need to get in touch with my softer side.

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 14:20:34 GMT

@Adkins wrote:
@ddamage wrote:
@PutThatMoneyOnTheTable wrote:
@Remedios sir? Hey mister?

@ddamage Remedios is a madam.
But there could be a number of reasons why your discovered haven't graduated.its not only based on scores and ontime payment with their card.they look at your overall report such as high balances on other cards, credit seeking behavior.
Ok thank you. UTI is like at 22%. tu 644, eq678, ex667.
Maybe your utilization? It's that overall utilization? Or is it concentrated on one or a few cards?

Its the overall of all my cards.

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 14:21:28 GMT

And currently have a 0 balance on my discover card.

Re: Discover It Secured Question.

Brian_Earl_Spilner — Mon, 18 May 2020 15:03:49 GMT

It took 21 months or so for mine to graduate. Didn't matter that my score went up over 100 points. Pretty sure my issue was shorting a payment once by $8. Paid it 2 days late but the damage was done.

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 15:11:34 GMT

@Brian_Earl_Spilner wrote:
It took 21 months or so for mine to graduate. Didn't matter that my score went up over 100 points. Pretty sure my issue was shorting a payment once by $8. Paid it 2 days late but the damage was done.

Dang. Well hopefully it doesn't take me that long. I've never missed a payment.

Re: Discover It Secured Question.

Brian_Earl_Spilner — Mon, 18 May 2020 15:15:11 GMT

@ddamage wrote:
@Brian_Earl_Spilner wrote:
It took 21 months or so for mine to graduate. Didn't matter that my score went up over 100 points. Pretty sure my issue was shorting a payment once by $8. Paid it 2 days late but the damage was done.
Dang. Well hopefully it doesn't take me that long. I've never missed a payment.

Yeah, they're weird though. Most people get unsecured within 5 days of their 7th statement, but sometimes, people have waited over a year for what seems like no reason. Not sure how their recent underwriting changes will affect secured cards.

Re: Discover It Secured Question.

M_Smart007 — Mon, 18 May 2020 15:41:21 GMT

@ddamage wrote:
@Brian_Earl_Spilner wrote:
It took 21 months or so for mine to graduate. Didn't matter that my score went up over 100 points. Pretty sure my issue was shorting a payment once by $8. Paid it 2 days late but the damage was done.
Dang. Well hopefully it doesn't take me that long. I've never missed a payment.

One possibility is just due to tightening of the purse strings during these times.

But take that with a grain of salt, as I have no real proof of how Discover does anything

Re: Discover It Secured Question.

Rebuild2019 — Mon, 18 May 2020 15:43:04 GMT

@ddamage I received my secured Discover in May 2019. I had $200 on it. My card was unsecured in Feb. 2020 and I was given a credit limit of $2000. My FICO score had gone up to about 700 prior to this. I also had opened a few accounts, which Discover may have seen as credit seeking behavior. I tried to keep my utilization around 8%. I found how much of a difference that made so I did AZEO method and kept my utilization at about 4%. That seemed to make a big difference. I believe it’s to your advantage to use the card on a regular basis and pay it off. Good Luck with your card. Now I want to try for a CLI, but I’ve been nervous about trying. So happy to get unsecured.😁 NOTE: Hope this is showing my paragraphs. For some reason it has been putting everything together, which is hard to read. My apologies if everything is running together.

Re: Discover It Secured Question.

ddamage — Mon, 18 May 2020 16:24:54 GMT

@Rebuild2019 wrote:
@ddamageI received my secured Discover in May 2019. I had $200 on it. My card was unsecured in Feb. 2020 and I was given a credit limit of $2000. My FICO score had gone up to about 700 prior to this. I also had opened a few accounts, which Discover may have seen as credit seeking behavior. I tried to keep my utilization around 8%. I found how much of a difference that made so I did AZEO method and kept my utilization at about 4%. That seemed to make a big difference. I believe it’s to your advantage to use the card on a regular basis and pay it off. Good Luck with your card. Now I want to try for a CLI, but I’ve been nervous about trying. So happy to get unsecured.😁 NOTE: Hope this is showing my paragraphs. For some reason it has been putting everything together, which is hard to read. My apologies if everything is running together.

Thank you all.

Re: Discover It Secured Question.

Brooklyn2018 — Tue, 19 May 2020 03:32:24 GMT

@ddamage wrote:
Hello Fam.

I always read here on the forums about how wacky Discover can be but I have had a 1000 dollar secured card since Feb 2019 and still haven't graduated. My FICO TU score is 644 which isnt high but my others are 678 and 667. Heck Penfed just gave me a 17.5k CC a month ago and Wayfair 4500 but not my Discover. I called last month but they said it was a computer decision thing. Should I call back and ask to speak to someone? Thanks in advance.

Don't feel bad, OP. June will be 26 MONTHS STILL not graduated🙄 ....I've done it ALL-Heavy usage, NO usage, Carried a balance for a couple of months, kept it under 30%-8.9%, PIF, EVEN gave myself a CLI, CALLED 50 times, Frontline CSR's, Escalated, In-app Chat, Called some more.....NOTHING!! Scores up and down in mid-high 600's....Even has Supervisor TELL ME he would try and send a message to see if he can have my graduation EXPEDITED!!!----HA!!!(I think that was the best answer to get me to stop calling 🤣)...NOTHING!!

I just gave up. It'll happen when it happens ¯\_(ツ)_/¯

Like you have gained ground with other creditors...like NFCU($10k moreRewards-2nd Card 91/3) so, how knows and quite frankly, I don't give a **bleep** right now. 🤣 after 2 yrs of rebuilding I'm sitting at $22,750 in available credit....so, it's ok and you shouldn't worry too much about it. It's just another card. I stopped getting too emotional about credit(not implying😉) IMHO, it's a game...and a strategic one at that. Timing is everything and patience has become my best friend!! Much luck to you. Keep up the excellent work!!👍 DISCO will come around for us both soon enough.

@Remedios "Those aren't PILLOWS!!" - Trains, Planes and Automobiles 🤣

Im still contributing 😉

I❤️NY