Discover's Preapproval Now Doing Soft Pulls On EX

[AverageJoesCredit]

Concur treasure, give it a few more months, youll probably get early grad. If anything if you have it add more funds to your card, up to $2500 that way your limit will be more useable upon graduation

[Anonymous]

---

@joltdudewrote:

---

@Anonymouswrote:

---

@AverageJoesCreditwrote:
Not sure Treasure but how long have you had your secured? If its the It, you probably could app the Chrome or Miles since technically, they are different products.

---

I've had the card since November. When I did the preapproval it said time since most recent card opening is too soon. I'm wondering if I closed the secured card, would that make a difference. My reason for wanting to do this that my EX score is much higher than my EQ score, if they're now using EX for approval I'm sure I would qualify for an unsecured card.

---

Treasure.. SLOW DOWN..

Youve only had the secured card for four months if that?

It takes at least 7+ months to unsecure.... 

No your not going to get a second card with discover for at least a year since you opened the secured account

You *might* be able to close it and open an unsecured card, and then you might not.. 

Credit is a marathon not a sprint... and your trying to cut corners.... 

You keep trying to shortcut the process.. 

You need TIME to pass to grow your credit...

I don't consider it short cutting the system or maybe it is. I think we all use short cuts when available, such as combining limits on cards rather than just allowing the limit to grow. 

I never wanted a secured card. My EQ file is split, therefore it has my score lower than it should be. Before I accepted the secured card, I called Discover to see if they could soft pull on EX since I knew my score was much higher there. They said they couldn't. Now they are soft pulling on EX so I would qualify for an unsecured card.

You nor I know if I will graduate in 7 months. I'm just trying to get what I think I qualify for, and I see nothing wrong with that.

This is my 2nd credit rebuild due to unforeseen circumstances so I'm well aware of how long it takes to rebuild because I have lots of experience in doing just that. I was on a different forum the last time I rebuilt.

---

[Anonymous]

No you will have to wait the full year whether you close it or not. So you may as well sit on it and let it graduate and go from there. Once graduated I'm not sure if disco still keeps you in the lower tier bucket list like cap1 does but I know many people havebe gotten CLIs after unsecurement. So I don't think so. So basically you will have a regular disco card after it unsecures .Just keep building and let it grow. You'll get there. 

[Miner]

Just because they did a SP from EX for a Prequal, does not mean they still won't do a HP from EQ when you actualy apply (which I haven't seen anything about them changing who they HP from since it's almost always been EQ for new apps for years).  I got my discover secured card in Oct and my EQ score has gone up by 100 points since then and while my EX hasn't gone up as much, it still is more than 50 points higher and TU is 70 higher.  Even so, I'm still waiting for May for when I expect them to unsecure me before applying for new CCs.  I'm starting to add more money to my deposit to maximum my credit limit when it does graduate so that it will influence future apps.  A few months wait is not that long of a time when your credit worthiness is measured in years not months.

[Anonymous]

As I stated before, no one knows for sure my card will unsecure at 7 months. There are some folks who have posted that they have had their cards much longer than 7 months and haven't been unsecured. I will be closing this card at 7 month if it doesn't unsecure and just wait until I can apply for the unsecured card.

[Miner]

You are correct that there are no guarentees of when they will unsecure you.  However, most of the people I've seen who posted that they went over a year and are still secured still have scores that can be considered low and would still have problems getting an unsecured card from most non-preditory lenders.  You can close it and wait several months, but unless you need the deposit money back, what harm is it to keep the account open for a little longer until you are at the 12 month threshold.  You could close it at 7 months and they might have unsecured you at 8 or 9.

[Anonymous]

---

@Minerwrote:

You are correct that there are no guarentees of when they will unsecure you.  However, most of the people I've seen who posted that they went over a year and are still secured still have scores that can be considered low and would still have problems getting an unsecured card from most non-preditory lenders.  You can close it and wait several months, but unless you need the deposit money back, what harm is it to keep the account open for a little longer until you are at the 12 month threshold.  You could close it at 7 months and they might have unsecured you at 8 or 9.

---

My money could be earning interest. I will close if not unsecured at 7 months.

[Anonymous]

I did the pre-approval in their site and took the Miles card. It was an instant approval. The next day I get notified of the inquiry in my EQ.

[Anonymous]

I had a secured card, and it unsecured at 7 months. Just tonight after doing some reading on here about the 5% cash back rotating categories I decided to do online chat with Discover and ask about that. The 5% rotating categories isn't part of the Discover IT Chrome, it's part of the Discover IT card (which confused me at first because the Chrome part is the only difference in the names). He explained that Discover IT Chrome has the 2% cash back on gas and restaurants and 1% back on everything else, and the regular IT card has the 5% rotating categories and 1% back on everything else.  I asked if I could do a product change to the Discover IT and he said I could. It doesn't involve any credit report pulling or anything.

Long story short, you can always do a product change once your card unsecures, if that matters to you at all.

ALSO, your card may not unsecure at exactly 7 months. It could be 7 months and a week, etc etc. From what I've seen, it's usually not 7 months to the day. So don't close it at exactly 7 months. Wait a few weeks because it may happen. Mine unsecured at like 7 months and 5 days or something like that.

[joltdude]

I agree with you closing it if it hasnt unsecured (I'd give it at least 7 statements + a few days, even as far as even a few more months) but closing it now and trying for an unsecured version still sounds like a crap shoot.... having a split file.. .. The posts iv seen have not given these added details...iv seen a number of your posts and youve sounded like a rebuilder in a hurry... even so.. you cant fix time.. 

Know this sounds silly but let Disco get to know your spend .. 

-J