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I have a Discover Secured card and my 7th statement cuts tonight. I'm hoping I might get lucky and have it unsecured with this statement cut. My question is, does anyone know what credit report Discover looks at when they evaluate for unsecuring a card?
Scores when I received my Discover Secured:
Experian 601, Equifax 659, Transunion 568
Current Scores:
Experian 664, Equifax 667, Transunion 666
Obviously my Experian and Transunion scores increased significantly since I originally got the card. My TU report had a few things that needed to be cleaned up and once that was taken care of, my score rose quite a bit. I've love it if they looked at TU or EX. Overall I'm in a much better place creditwise (although I know I still have a long ways to go) so I'm hoping that Discover sees that as well. Even if it doesn't secure this time, it's ok. Just gives me more time to increase my score.
Thoughts on what my chances are on unsecuring?
I wonder if it isn't 7 statements but 7 actual months to begin checking for unsecuring. The reason I say this is because I changed the due date on my card in summer and July didn't get a statement at all because they pushed the statement to August. So I only had 6 statements cut when my Discover graduated but it graduated almost at 7 months to the day.
What day did your Discover secure account open? If you aren't sure, check Credit Karma's "Account" tab, it's pretty accurate on the date an account was open.
I received and activated the card on May 1st. My statements cut on the 3rd of each month and this will be my 7th statement that cuts tonight.