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Discover Grad! Yes it is real

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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
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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%

Signature update coming soon.

Message 12 of 22
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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

Signature update coming soon.

Message 13 of 22
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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

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 14 of 22
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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! 

Signature update coming soon.

Message 15 of 22
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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"


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Message 16 of 22
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Community Leader
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.







Message 17 of 22
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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
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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

 

Signature update coming soon.

Message 19 of 22
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Regular Contributor

Re: Discover Grad! Yes it is real

Congrats!

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Message 20 of 22
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