Discover It vs Capital One QS1 Upgrade Question

[Anonymous]

Hi guys!

I've been looking on this forum for the last month or so while trying to rebuild. First post - Fico is 614

I've had a Discover It Secured ($200 Limit) since Oct. 17'. I didn't really use it much, just a few dollars every month a PIF. In January I put Netflix ($15) on there and just PIF every month, never put any more on it. I upgraded the SCL to $800 on Friday. Since reading these threads it seems like Discover likes a lot of money being put through it to upgrade to unsecured... would it be too late to start doing that now? Is it likely that it'll stay secured for awhile (I've seen users state theirs have stayed secured for 2 years)

I got approved for Quicksilver One card on the 24th last month with a $300 limit. Should I focus on charging a lot to this card and PIF multiple times/month for the higher increase in five months? I've seen on here that Capital One usually treats a rebuilding card as just that for the lifetime of the card. 

Or should I just charge an equal amount to both cards and not really worry about it? I'd like to get that Discover card to unsecured, especially since I just added $600 to the secured limit. 

Any input would be greatly appreciated  

[Anonymous]

I’d stick with the Discover Card. You’re going on your 7th monthly statement with them, that’s when your card can become eligible for graduation. Use it a lot more and see what happens.

[Kforce]

All CC issuers like to see use. (1 way they make money - swipes.)   Most feel use is a factor in CL increases.   However with just good payment patterns and time Cl's will still grow with minimal use.  Being that you have "starter" cards, everyone starts here, the CL increases are smaller and a little slow to grow. (patience required.)   Both cards should become unsecured with time and both can grow.  Current feelings on this forum lean to "Discover" as faster at both. (YMMV).   In a couple of years your scores, history, and account age will be at a point where you will want better cards and have the file to support them.   I would suggest using the cards how they best fit your needs.  Don't start using the cards for anything that you would not buy/use if you did not have the cards.  However you might want to start using the cards to see rewards on things you are already purchasing.  When I first got a couple of reward cards it took some time for me to stop pulling out cash at "in-n-out", and pay some of my utilities by CC instead of pushing from my checking.  Learn how to use your cards and see a little cashback for spend you do every month anyway.

[creditguy]

I had a secured Discover that unsecured in about 8 months, I did use the card heavily because of the first year cashback bonus and the rotating categories. I like Discover, they have been better to me than CapOne. CapOne is fine and can be generous, while they may treat your card as a rebuilder, you always have the option of applying for additional cards in the future. While usage may help your Discover unsecure I think your overall profile will be the determining factor. I would just keep using it and working on whatever is holding you back, it will graduate eventually and Discover will probably give you a nice CLI, best of luck. 

[Anonymous]

Kforce, your advice on maximizing usage on cards with rewards has been one of the best things I learned in this forum. I have the Discover secured, but had not been using it much. Now I'm putting all my gas and restaurant on it, and paying it twice/month. Hoping this will help me graduate in the next few months.

[Anonymous]

JUst keep using and paying multiple times.  Discover starts to think about unsecuring at the 7th statement.

mIne took 1 year to unsecure.  THe first half of that year i was higher than normal balances but paid them down, the second half of that I started trying to stay under 30% utilization and let it report between 10-20%.  Got an email last month(1 year exactly since opening) that my deposit was refunding and card was unsecuring with a CLI.

of course YMMV but start using the Discover more