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I graduated early from Discover It secured

sammymagz
Member

Re: I graduated early from Discover It secured

I also had a $200 limit. It increased automatically to $500 when it unsecured. Immediately went for a CLI and got $500 more, totalling $1000
Message 21 of 29
pizza1
Community Leader
Super Contributor

Re: I graduated early from Discover It secured

Congratulations!! Graduating early from a secured card is always exciting! Enjoy your card!

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 22 of 29
DustStorm
Regular Contributor

Re: I graduated early from Discover It secured


@djgrolyo wrote:
Does the amount of the security deposit matter? Once you graduate aren't you approved for a certain amount or is it always just your secured amount? If so maybe I should deposit some more funds into that account. I wonder if they are more likely to graduate a $200 limit because it isn't as big of a risk than someone who has a $2000 limit. It would be nice to know how they do all these issues being brought up.

I'm thinking I will graduate in Dec or Jan 4. (FICO up 100+ points on TU and EX....EQ is still messed up. I disputed a Collection due to fall off in 6 mo and it came back verified. Now it looks like that Co is from this month-my FICO tanked. I should have waited but I heard you could dispute old CO if within 6 mo of falling off)

Anyway-regarding Discover, if the size of the security deposit matters when graduating and especially establishing your unsecured limit- I will do that.

Seems I remember a rep telling me they already had a predertimined amount even on the secured side?

 

I went ahead and hit the love button lastnight. Got $500 for a total line of $800. It's a start I suppose....

Started: Jan 2016
EQ 599 TU 576 EX 580

Aug 2019
(Fico 8) - EQ 716 TU 740 EX 733
(Fico 9) EQ 780 TU 767 EX 766
Message 23 of 29
cam3150
Frequent Contributor

Re: I graduated early from Discover It secured

Hmmmm. I'm secured too, for $200. Was planning on eventually getting that up to at least $1,200 before my one year mark in April. I've always heard that the limit stays the same at graduation. I logged in just now on the app to see what statement I'm on and it shows my limit at $500! Does this meant they graduated me?

ETA: I just called customer service and they did graduate me!! My 7th statement cut just Tuesday and my check is in the mail.  This is so unexpected, I hadly know what to say.   I burned Discover in 2010 with a CO and have been working really hard for the last year to replari my credit.  My scores have come up over 100 pts since this time last year.  I was shocked when they approved me even for a secured card so for them to graduate me early, I am nearly in tears because it means I am finally breaking out of this hole I dug for myself so many years ago.

 

I also just tried for the CLI on my account page and also got a $500 increase for a total of $1,000 limit!!!  Oh my goodness.  Ya'll have no idea how elated I am by this Smiley Happy Smiley Happy 

 

Luckily for me Discover used my TU report. Score is currently 682 but there are still 3 negatives showing, inclduing a judgment that is paid but does not reflect as such on my credit.  

 

Based on the forum topics, Discover is on a spree of graduting accounts early. 

Current FICO Scores as of 01/2021 EQ 724 TU 738 EX 721

NFCU CR $30,000 | USAA Rewards Visa Signature $21,000 | USAA Preferred Cash Rewards Visa Sig $21,000 | NFCU Platinum $18,000 | CapOne WM MC $10,000 | Wells Fargo Cash Wise $9,000 | Costco Anywhere Visa $13,500 | Citi Double Cash $8,500 | PenFed Rewards Visa Signature $17,500 | PenFed Promise $12,500 | Amazon Rewards Visa $3,500 | AMEX BCP $2,800 | Capital One QS 3,750 | Chase Sapphire Preferred $5,500 | Discover IT $1,800 | Amazon $10,000 | J Crew $11,500 | PayPal Credit $10,000 |Belk Rewards $10,000 | US Bank Platinum $10,500 | Amazon Store Card $10,000
Message 24 of 29
sammymagz
Member

Re: I graduated early from Discover It secured

Congrats to everyone else who've graduated!
Message 25 of 29
MyLoFICO
Valued Contributor

Re: I graduated early from Discover It secured


@cam3150 wrote:

Hmmmm. I'm secured too, for $200. Was planning on eventually getting that up to at least $1,200 before my one year mark in April. I've always heard that the limit stays the same at graduation. I logged in just now on the app to see what statement I'm on and it shows my limit at $500! Does this meant they graduated me?

ETA: I just called customer service and they did graduate me!! My 7th statement cut just Tuesday and my check is in the mail.  This is so unexpected, I hadly know what to say.   I burned Discover in 2010 with a CO and have been working really hard for the last year to replari my credit.  My scores have come up over 100 pts since this time last year.  I was shocked when they approved me even for a secured card so for them to graduate me early, I am nearly in tears because it means I am finally breaking out of this hole I dug for myself so many years ago.

 

I also just tried for the CLI on my account page and also got a $500 increase for a total of $1,000 limit!!!  Oh my goodness.  Ya'll have no idea how elated I am by this Smiley Happy Smiley Happy 

 

Luckily for me Discover used my TU report. Score is currently 682 but there are still 3 negatives showing, inclduing a judgment that is paid but does not reflect as such on my credit.  

 

Based on the forum topics, Discover is on a spree of graduting accounts early. 


It is possible it was a mistake and they didn’t realize it until they got to my account. Now they are going in reverse to turn them all back. Mine must be right after yours on the list. :/


Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18
Message 26 of 29
HSXAGENT
Regular Contributor

Re: I graduated early from Discover It secured

I'm so excited for you!

 

Seriously, I'm sitting here giddy for you.

I can't tell people enough about Discover.

They are just great, their app, their customer service, everything!

 

I'm counting the days till I can post I graduated too!

 

I do hope you will post more of your CLI stories regarding Discover! 

FICO Scores: EX-665 TU-690 EQ-670 (10-23-2017)
Amazon Store Card - CL $5000/AMEX BCE - CL $2000/ AMEX Everyday - $500/ Barclay Rewards Card - CL $1500/ Capital One secure card $500/ Capital One QS $1600/ Discover IT $10500/ Walmart Card - CL $5000/ Old Navy Card - CL $6000/ U.S. Bank Cash+ Visa Signature Card - CL $500
Message 27 of 29
djgrolyons
Established Member

Re: I graduated early from Discover It secured

Happy for everyone who graduated! Congrats! 🎈🎊🎉
FICO8 as of Nov 2016: TU (704) EX (662) EQ (609)
Message 28 of 29
weedeb
Valued Contributor

Re: I graduated early from Discover It secured

That's just awesome for you, sammy! What a nice suprise getting your money back, and qualifying for a regular Discover in such a short time.  Very happy for you! Smiley Happy

Message 29 of 29
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