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Discover Grad! Yes it is real

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: Discover Grad! Yes it is real

As a previous poster mentioned you can switch cards to the 5% category one. I literally had same situation as you. Unsecured to $2k. Saw category card as better option especially due to cashback match (making it essentially 10% back on all grocery and yes you can buy gift cards to get it) they just make you wait until your next statement cuts. So if your statement cuts tomorrow, best ask today!
Message 11 of 22
New Contributor

Re: Discover Grad! Yes it is real


@Brian_Earl_Spilner wrote:

Congrats. You could have changed the card at any time. I changed mine after my first statement.


Thanks I will be calling them tomorrow!  I thought the 'secured' was stuck at the 1%-2%

My long rebuilding road. I am currently gardening.
Filed Chapter 7 in December 2017
I AM NOT checking any scores until January 2019
TU: 558 EF: 558 EX: 608 as of 09 Oct 2018
Vantage Scores TU: 695 EQ: 691 EX: 687
FICO 8 Exp 657 (22 Sept 2018)
FICO 9 Exp 695 (03 Oct 2018)
FICO 9 EQ 662 (11 Sept 2018)
FICO 8 TU 628 (28 Aug 2018)
*CC's:
QuickSilver One (Oct 2018) $3000
QuickSilver (PC from Platinum) (Apr 2018) $500
Secured USAA Amex (Apr 2018) $1250
Secured Discover IT (June 2018) $500
Ollo Platinum MC $800 (Nov 2018)
*Loans
AMPLIFY CU Auto Loan (72 mo) $36,744 (Oct 2018) 4.79%
Inquiries: TU-11, EQ-9, EX-9 (Most of HPs were from Auto Purchase)
Message 12 of 22
New Contributor

Re: Discover Grad! Yes it is real


@thornback wrote:

Congrats on your graduation (and all your progress)!   

 

And hey -- if you can, maybe consider holding off on closing your USAA secured card for a bit... there's a post floating around here from about a week ago regarding changes being made to the USAA secured -- the changes are currently unknown but perhaps there will finally be an ability to graduate??  That would make it worth holding on to.

 

Also - Happy New Year!

 

EDIT:  Link to that post about USAA secured: https://ficoforums.myfico.com/t5/Credit-Cards/USAA-Secured/m-p/5450368

Looks like a 'new' secured card is coming --I don't know but may be worth it to wait and see if the new features will extend to existing card holders.


Thanks for the heads up!  I went to the USAA site and they have removed all of their secured cards. So I am thinking that it may be an automatic transistion to the new card(s). I had decided not to cancel  the card until my 2 year CD was up. I plan on getting a USAA card in time and was afraid that would look bad. Closing the secured card early that is. 

 

Screenshot_438.png

My long rebuilding road. I am currently gardening.
Filed Chapter 7 in December 2017
I AM NOT checking any scores until January 2019
TU: 558 EF: 558 EX: 608 as of 09 Oct 2018
Vantage Scores TU: 695 EQ: 691 EX: 687
FICO 8 Exp 657 (22 Sept 2018)
FICO 9 Exp 695 (03 Oct 2018)
FICO 9 EQ 662 (11 Sept 2018)
FICO 8 TU 628 (28 Aug 2018)
*CC's:
QuickSilver One (Oct 2018) $3000
QuickSilver (PC from Platinum) (Apr 2018) $500
Secured USAA Amex (Apr 2018) $1250
Secured Discover IT (June 2018) $500
Ollo Platinum MC $800 (Nov 2018)
*Loans
AMPLIFY CU Auto Loan (72 mo) $36,744 (Oct 2018) 4.79%
Inquiries: TU-11, EQ-9, EX-9 (Most of HPs were from Auto Purchase)
Message 13 of 22
Community Leader
Super Contributor

Re: Discover Grad! Yes it is real

Yay!! Thats awesome!! Discover is really good about that, and I always recommend a secured card from them to rebuilders.

Congrats to you on the graduation and CLI!! Smiley Happy

Scores held down by umpteen INQ & New accounts
~~~BK7 d/c-08/2013......my rebuild worked for me, but won't necessarily work for you.~~
Message 14 of 22
New Contributor

Re: Discover Grad! Yes it is real


@debtguy3939 wrote:
As a previous poster mentioned you can switch cards to the 5% category one. I literally had same situation as you. Unsecured to $2k. Saw category card as better option especially due to cashback match (making it essentially 10% back on all grocery and yes you can buy gift cards to get it) they just make you wait until your next statement cuts. So if your statement cuts tomorrow, best ask today!

Thanks, I am going to call them tomorrow. They did my CLI 3 days after my last statement so I will have to wait until Feb :/ I can definitely take advantage of the 5% categories! 

My long rebuilding road. I am currently gardening.
Filed Chapter 7 in December 2017
I AM NOT checking any scores until January 2019
TU: 558 EF: 558 EX: 608 as of 09 Oct 2018
Vantage Scores TU: 695 EQ: 691 EX: 687
FICO 8 Exp 657 (22 Sept 2018)
FICO 9 Exp 695 (03 Oct 2018)
FICO 9 EQ 662 (11 Sept 2018)
FICO 8 TU 628 (28 Aug 2018)
*CC's:
QuickSilver One (Oct 2018) $3000
QuickSilver (PC from Platinum) (Apr 2018) $500
Secured USAA Amex (Apr 2018) $1250
Secured Discover IT (June 2018) $500
Ollo Platinum MC $800 (Nov 2018)
*Loans
AMPLIFY CU Auto Loan (72 mo) $36,744 (Oct 2018) 4.79%
Inquiries: TU-11, EQ-9, EX-9 (Most of HPs were from Auto Purchase)
Message 15 of 22
Valued Contributor

Re: Discover Grad! Yes it is real

Closing it early won't look bad.  I closed mine after 1 year and 1 month -- once the closing process was complete (took about 10 days to get my deposit back) I apped for an unsecured and was instantly approved for 8K.   They honestly do not care if you close it early -- i think they understand given there was no where to go with the card.   You know -- i just closed mine this past November -- just a few weeks before the news of changes came out so I may have missed out - oh well.  But for anyone that still has their secured card - i would strongly suggest waiting till the new card line emerges to see how it affects your current status. 

 


@forJAT wrote:


Thanks for the heads up!  I went to the USAA site and they have removed all of their secured cards. So I am thinking that it may be an automatic transistion to the new card(s). I had decided not to cancel  the card until my 2 year CD was up. I plan on getting a USAA card in time and was afraid that would look bad. Closing the secured card early that is. 

 

Screenshot_438.png



 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 07/01/2019: EX 741 ✦ EQ 727 ✦ TU 733
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.7 years not incl. AU / 2.10 years incl. AU
My AoOA: 6.5 years not incl. AU / 8.5 years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 16 of 22
Super Contributor

Re: Discover Grad! Yes it is real

Nope. I called the day I received it. My statement cut 3 days later and it was a 5% card.








***AD SPACE AVAILABLE***
Message 17 of 22
Frequent Contributor

Re: Discover Grad! Yes it is real

You can actually hop on chat and ask them to product change the card. They did that for me via chat even before the card graduated. 

 

Congrats!

Message 18 of 22
New Contributor

Re: Discover Grad! Yes it is real

Thanks all I got my card converted. I hate that I did not do this in the beginning but oh well that's the past. 

 

I will have to wait until February before I start to use it though.  Fortunately and unfortunately I do not see a problem  racking up the cash back rewards for the Double cash back reward in July! 

 

Screenshot_439.png

 

My long rebuilding road. I am currently gardening.
Filed Chapter 7 in December 2017
I AM NOT checking any scores until January 2019
TU: 558 EF: 558 EX: 608 as of 09 Oct 2018
Vantage Scores TU: 695 EQ: 691 EX: 687
FICO 8 Exp 657 (22 Sept 2018)
FICO 9 Exp 695 (03 Oct 2018)
FICO 9 EQ 662 (11 Sept 2018)
FICO 8 TU 628 (28 Aug 2018)
*CC's:
QuickSilver One (Oct 2018) $3000
QuickSilver (PC from Platinum) (Apr 2018) $500
Secured USAA Amex (Apr 2018) $1250
Secured Discover IT (June 2018) $500
Ollo Platinum MC $800 (Nov 2018)
*Loans
AMPLIFY CU Auto Loan (72 mo) $36,744 (Oct 2018) 4.79%
Inquiries: TU-11, EQ-9, EX-9 (Most of HPs were from Auto Purchase)
Message 19 of 22
Regular Contributor

Re: Discover Grad! Yes it is real

Congrats!

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: 1k

Chase Sapphire Preferred: 800

EX: 730 | EQ: 723 | TU: 705
Message 20 of 22