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Discover Secured Card

Mike11208
New Contributor

Discover Secured Card

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. 


Message 1 of 12
11 REPLIES 11
AverageJoesCredit
Community Leader
Mega Contributor

Re: Discover Secured Card

Way to go Smiley Happy congrats to DMSmiley Happy Never to old to get DiscoSmiley Wink
NN7! Fico math 1 HP = 20 CG LIEr Club Plankowner
Message 2 of 12
BrandonLane
Established Contributor

Re: Discover Secured Card

Very nice! Congratulations! 

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 3 of 12
Key1920
Frequent Contributor

Re: Discover Secured Card

Congrats






Biz Cards
Message 4 of 12
19eighty5
Senior Contributor

Re: Discover Secured Card

Congratulations!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Mar 2020):EX- 689, TU- 665, EQ- 670
What's in my wallet:



On the chopping block:

Message 5 of 12
StartingOver2018
Frequent Contributor

Re: Discover Secured Card

❤ these kinds of success stories!
BK CH7--Filed September 25, 2018--D/C Jan.4, 2019
{FICO8 Feb.12, 2019--TU 580--EX 600--EQ 626}

Credit One Visa CLOSED by me May 2020!! :-)($500 now $700) Nov. 2018
SelfLender (2 year) Nov. 2018
Capital One Platinum MC ($2000 now $2500) Jan. 2019
Target RedCard ($500 at 4 months $800 six months later $1900) April 2019
Venus Comenity ($500 now $1500) May 2019 no HP
Ann Taylor Loft MC ($1000) June 2020 no HP
Overstock ($350 now $2350) June 2020 no HP


FICO 8 SCORES: 06-04-2020633 TU656 EX652 EQ
Message 6 of 12
James_A
Valued Contributor

Re: Discover Secured Card

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? 

 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/12/2021): FICO 08 EXP: 748; TU: 755; EQ: 773
2020 Goal Score: 760 across the board


Take the myFICO Fitness Challenge
Message 7 of 12
Mike11208
New Contributor

Re: Discover Secured Card

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. 

Message 8 of 12
thilimaa
Regular Contributor

Re: Discover Secured Card

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!

Amex Gold: No pre-set spending limit

Chase Sapphire Reserve: 10k

Amazon Prime Store Credit Card: 4k

Citi American Airlines MileUp: 3.1k

Capital One Quicksilver One: 2.5k

Capital One SavorOne: 2k

Discover it Miles: 1.5k

AAdvantage Aviator Red: 3k

Chase Sapphire Preferred: 800

EX: 690 | EQ: 680 | TU: 677
Message 9 of 12
James_A
Valued Contributor

Re: Discover Secured Card


@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?

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/12/2021): FICO 08 EXP: 748; TU: 755; EQ: 773
2020 Goal Score: 760 across the board


Take the myFICO Fitness Challenge
Message 10 of 12
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