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I applied for the Discover secured card with just 200 dollars down on 3/15/2018. Was approved and had the card a week later.
Used it heavily for the past 7 months.
Last night I log in to my account and I have a 2000 credit limit. I called and they are sending me a check for the deposit.
My mom who has no real credit history even though 70 years old, I suggested she apply for the card, I had her as an authorized user on my account.
She used the pre-qual tool and we thought she would get offered a secured card of her own (back in May she wasn't offered anything) they offered her the cash back card and approved her for 3000.
Very nice! Congratulations!
Congratulations!
From $300 to $2000 @ only 7 months -- Disco loves it some Mike (and DM -- "Any family of Mike's is family of ours."). Congratulations!
Do you have some DPs to share with the community?
Well, 200 dollars was the deposit.
From the day I got the card I used it, and always tried to make sure that when it was ready to cut, I had only 50% or less of usage on the card.
I then always paid it off in full, even using the cashback.
I made various payments throughout the month as it was only a 200 limit and 200 bucks isn't much to work with. I would pass $300 - $900 a month on the card. But it was hard to do because of the limit after 3 payments discover would warn you. But I really didn't do much of anything else.
Congratulations! Awesome that you also helped your mom to get into the CC game, that is actually really awesome!
Discover probably saw that you were doing great with $200 and also they probably figured out that, based on your spending habits, you would need more than $200, haha! Congratulations again!
@Mike11208 wrote:Well, 200 dollars was the deposit.
From the day I got the card I used it, and always tried to make sure that when it was ready to cut, I had only 50% or less of usage on the card.
I then always paid it off in full, even using the cashback.
I made various payments throughout the month as it was only a 200 limit and 200 bucks isn't much to work with. I would pass $300 - $900 a month on the card. But it was hard to do because of the limit after 3 payments discover would warn you. But I really didn't do much of anything else.
Thanks for the additional information. I'm still curious about your credit profile -- i.e., primarily Fico scores?