As the title states, I finally graduated!
Here's how it all went down for DP's on those of you who may be searching for information on your Discover Secured journey.
April 2020:
Opened card with $300 limit. Scores in the low 600's. Chrome 1% CB and 2% CB restaurants and gas stations.
May 13, 2020 1st statement cut with $12 balance. $700 monthly spend.
June 13, 2020 2nd statement cut with $0 balance. $500 monthly spend. Updated security deposit to $700.
July 13, 2020 3rd statement cut with $0 balance. Increased security deposit to $2,500. $1200 monthly spend.
August 13, 2020 4th statement cut with $0 balance. $1,800 monthly spend.
September 13, 2020 5th statement cut with $0 balance. $2,200 monthly spend.
October 13, 2020 6th statement cut with $0 balance. $800 monthly spend.
November 13, 2020 7th statement cut with $0 balance. $1,100 monthly spend. PC'd card to NHL IT Card with 5% CB Rewards rotating categories.
December 13, 2020 8th statement cut with $171 balance. $2,200 monthly spend.
January 13, 2020 9th statement cut with $2,300 balance. $2,150 monthly spend. (I let this amount report because I heard they like something to report, and i had only ever let $12 and $171 report prior.)
January 15, 2020 late evening, received email saying Congratulations on responsible use, they are unsecuring my card and returning my $2,500 security deposit as well as increasing my credit line from $2,500 to $2,700.
January 22, 2020 received check in the mail.
My scores went from low 600's to mid 600's and they've remained stable for 3 months. So I am unsure why they didn't graduate me at 7 months with 13% overall usage across the board versus at 9 months with 17% usage across the board (almost 100% on their card). No new negative activity since account opening.
That's my journey. Good luck to all. I wasn't sure how long I'd have to wait. But.....as always, we don't know or understand Disco as much as we'd like to.
