topic Re: Discover 7th Statement Cuts Today in Rebuilding Your Credit

Discover 7th Statement Cuts Today

ItsCASHual — Fri, 01 Jun 2018 13:10:58 GMT

Hello,

My secured Discover 7th statement cuts today. If they were to graduate me, how long before I will know? Does it just "show up" when you log into your account or do they notify via email or something?

Thanks! I'm keeping my fingers crossed for graduation. Never any late payments, paid in full every month before statement cut.

Re: Discover 7th Statement Cuts Today

Anonymous — Fri, 01 Jun 2018 13:40:39 GMT

@ItsCASHual wrote:
Hello,
My secured Discover 7th statement cuts today. If they were to graduate me, how long before I will know? Does it just "show up" when you log into your account or do they notify via email or something?

Thanks! I'm keeping my fingers crossed for graduation. Never any late payments, paid in full every month before statement cut.

I received an email about 4 business days after my 7ths statement was cut. I noticed the a couple days before though when my CL went from $300 to $1200.

Re: Discover 7th Statement Cuts Today

Miner — Sat, 02 Jun 2018 01:36:20 GMT

My 7th statement just cut the friday before Memorial Day weekend with no change to my credit limite. But when I came home late Monday night, after being away for the weekend, I suddenly got an email notifying me that I had graduated (likely was Tuesday back east). So just a couple of days. So after 4-5 days, if you haven't heard from them, try logging in just to make sure as in the corner of my account page, it has a noticed about my graudation and my deposit being returned. My scores had gone from ~600 when I applied to 671-703 when I graduated 7 months later.

Re: Discover 7th Statement Cuts Today

Anonymous — Sat, 02 Jun 2018 02:06:13 GMT

I could have sworn my discover thing said it happens on 8th statement. Well starts reviewing.

Re: Discover 7th Statement Cuts Today

Anonymous — Sat, 02 Jun 2018 02:13:51 GMT

@ItsCASHual wrote:
Hello,
My secured Discover 7th statement cuts today. If they were to graduate me, how long before I will know? Does it just "show up" when you log into your account or do they notify via email or something?

Thanks! I'm keeping my fingers crossed for graduation. Never any late payments, paid in full every month before statement cut.

You can start hearing back from them soon this week hopefully if had you UTIL low and scores decent I believe you are not far from the unsecured card and getting Auto CLI. This month on 23rd my 7th statement is due. I am curious about my situation too. All the best and do post in the forum with updates (Don't we all love data points).

Re: Discover 7th Statement Cuts Today

arunkumarmm — Sat, 02 Jun 2018 04:13:21 GMT

Hi guys,

My 7th statement cut on 24th May... I logged in to check the CLI page, no change.. Saturday.. No change, Sunday no change... Monday morning when I woke up I tried it as first thing and it asked for me details... Then on tuesday I got the email saying that it was unsecured and my check is on my way..

Data Points:
Applied in Nov'17, CS: Ex Fico was around 493 (knew the score from BOA secured denial a couple weeks ago. I was approved for credit one a week ago for $300)

Started the discover with $1000 limit, ran $800-$1000 every month and payed as soon as posted..
After 4 months raised the limit to $2500 and 5 & 6th month spent around $1200.. the last (7th month) spent $3200 and let $0 report on the statement.. highest ever reported was $135 (on the 3rd statement)

In the meanwhile, I was approved for US Bank HD secured Visa for $500 and CO QS1 for $300..

I also a have a car loan from Toyota ( with a co-signer was able to get it for 0% apr) and a self lender loan..

Right now cs are FICO EX: 601, EQ: 617, TU: 629

I have one open collection and one paid collection, 5 CO (almost 6 years old) reporting now

Re: Discover 7th Statement Cuts Today

Anonymous — Sat, 02 Jun 2018 21:57:54 GMT

my 7th statement cut last month and I still didn’t get my card unsecured.

Re: Discover 7th Statement Cuts Today

Anonymous — Sat, 02 Jun 2018 22:25:19 GMT

I have had my card for about a week, but unless something changed this comes directly from their website.

Landing | Secure Card | Discover

Here’s how it works

Starting after 8 months, we do automatic monthly reviews to see if we can transition you to an account with no security deposit.1

If you qualify, we will let you know and will return your security deposit back by mail within 5-7 business days. You keep the same card, account number, rewards and benefits.

If you don’t qualify, we will continue to conduct automatic monthly reviews to see if we can transition you to an account with no security deposit.There is nothing you need to do except continue to use your credit card and all other loans responsibly.

Footnote 1

Landing | Secure Card | Discover

Transition to a Discover account without a security deposit: We’ll automatically review your credit card account monthly, starting at 8 months, to see if we can return your security deposit while you continue to enjoy your card benefits. These reviews are based on responsible credit management across all of your credit cards and loans, including Discover and others.

Re: Discover 7th Statement Cuts Today

ItsCASHual — Tue, 12 Jun 2018 15:10:38 GMT

Just an update to this thread. My Discover did unsecure! WooHoo! I went from $200 limit to $1,400 limit. I'm happy with that thus far. I used the $200 heavily....sometimes took limit up to $199 and then paid off to zero, then would charge again up to limit and then not pay off for 2 weeks again. I always paid to zero balance before the statement cut.

Re: Discover 7th Statement Cuts Today

Brooklyn2018 — Tue, 12 Jun 2018 23:03:15 GMT

Congrats!!!

I'm in my first statement...have much time ahead of me.

I'm excited for you...feels like I graduated!!

Great Job!!

Re: Discover 7th Statement Cuts Today

Anonymous — Wed, 13 Jun 2018 11:04:40 GMT

Congrats as well! I'm in bunch where I havne't graduated and it doesn't look like it will, for whatever reason. It will be a year in the Aug/Sept timeframe and if it doesn't unsecure I will close it and wait for them to solicit me for thier business. My limit is only $200 and since I've had it I never paid late and always PIF. I've attained other unsecured CC as well. So idk what in my profile they don't like but I'll just move forward. I've also applied for a 2nd card but keep getting the message that my account was recently opened, something to that effect.

Re: Discover 7th Statement Cuts Today

Anonymous — Wed, 13 Jun 2018 13:01:54 GMT

@Anonymous wrote:
Congrats as well! I'm in bunch where I havne't graduated and it doesn't look like it will, for whatever reason. It will be a year in the Aug/Sept timeframe and if it doesn't unsecure I will close it and wait for them to solicit me for thier business. My limit is only $200 and since I've had it I never paid late and always PIF. I've attained other unsecured CC as well. So idk what in my profile they don't like but I'll just move forward. I've also applied for a 2nd card but keep getting the message that my account was recently opened, something to that effect.

you can not apply for new discover it within same year! they have to be 12 months apart. **collected from reading data points on this forum**

Re: Discover 7th Statement Cuts Today

ItsCASHual — Wed, 13 Jun 2018 13:20:53 GMT

@Anonymous wrote:
Congrats as well! I'm in bunch where I havne't graduated and it doesn't look like it will, for whatever reason. It will be a year in the Aug/Sept timeframe and if it doesn't unsecure I will close it and wait for them to solicit me for thier business. My limit is only $200 and since I've had it I never paid late and always PIF. I've attained other unsecured CC as well. So idk what in my profile they don't like but I'll just move forward. I've also applied for a 2nd card but keep getting the message that my account was recently opened, something to that effect.

In reading several posts within these forums, I decided to only do a $200 secured deposit as well and not increase it. Strictly for the fact that people have said Disco can be unpredictable. I see several posts where folks increased their secured deposits over several months. I figured the same as you...if they want my business great, if not I've got other cards in my wallet and options as well. I was surprised that they increased me to $1,400 limit. I was expecting possibly $600 or so.

Re: Discover 7th Statement Cuts Today

Anonymous — Fri, 15 Jun 2018 15:06:03 GMT

Thanks for your reply with that information. I didn't know that. I've read so many darn forumns I don't how I missed that.

Re: Discover 7th Statement Cuts Today

Anonymous — Sun, 01 Jul 2018 23:01:29 GMT

@Anonymous wrote:
@ItsCASHual wrote:
Hello,
My secured Discover 7th statement cuts today. If they were to graduate me, how long before I will know? Does it just "show up" when you log into your account or do they notify via email or something?

Thanks! I'm keeping my fingers crossed for graduation. Never any late payments, paid in full every month before statement cut.
You can start hearing back from them soon this week hopefully if had you UTIL low and scores decent I believe you are not far from the unsecured card and getting Auto CLI. This month on 23rd my 7th statement is due. I am curious about my situation too. All the best and do post in the forum with updates (Don't we all love data points).

Just updating My statement did cut on 23rd and statement was accessible on 24th however it happened to be just before the weekend. Got an auto CLI to 2K and unsecured message on 27th.

Re: Discover 7th Statement Cuts Today

reese7 — Sat, 28 Jul 2018 17:31:57 GMT

My 7th statement cut on the 27th. Just waiting. Tick tock tick tock

Re: Discover 7th Statement Cuts Today

Anonymous — Sun, 29 Jul 2018 12:20:13 GMT

Good luck @reese7!

Re: Discover 7th Statement Cuts Today

reese7 — Mon, 30 Jul 2018 05:13:52 GMT

I just logged in and I now have an option for CLI. looks like my account is graduating!

Re: Discover 7th Statement Cuts Today

reese7 — Tue, 31 Jul 2018 03:31:24 GMT

I just got the confirmation email from Discover. Account officially graduated. :-)

Re: Discover 7th Statement Cuts Today

Anonymous — Tue, 31 Jul 2018 12:46:27 GMT

Congrats reese7!

I now have the 12 month mark coming up for me this next bill cycle and if I don't graduate, I'll move on from Discover and close my account. I've been able to get other cards with much higher limits, I've used and always paid on time, usually paying it off cause it's only $200 secured line but I'm one of the folks they don't like .