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Discover Secured Graduation?

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Frequent Contributor

Re: Discover Secured Graduation?


@tmdblueyes wrote:
Yayyyyy!!!! Card unsecured thursday night. Woke up at 2 am and checked the cli link. Yes, obsessed i know. Instead of getting the "we're sorry this isn't available for you" message I actually went to the reqest form. I put in for cLi but was denied. I also noticed the section of "how to transition to an unsecured card" was no longer there. This morning I got the official congrats email. My 7th statement cut Tuesday. Im ecstatic

Congrats tmdblueyes!!  No throwing in the towel for you...lol.  So happy it all worked out for you in a reasonable timeline. Enjoy your new unsecured status!




Instead of waiting for the storm to pass, I've learned to dance in the rain.
Message 21 of 211
Frequent Contributor

Re: Discover Secured Graduation?

Congrats!! No worries I will be up waiting for that email in December lmao 

Sept 18: EQ: 578 TU: 583 EX: 576
March 19’: EQ: 615 TU: 642 EX: 637
June: EQ8: 637 TU8: 645 EX8: 642
September 19’: EQ8: 620 TU8: 645 EX8: 640
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA: 7YRS 4MONTHS AAOA: 2YR 4MONTHS
Inquiries in 12 months: EQ: 3 TU: 1 EX: 1
New Accounts in the last 9 months: 0
CLOSED: Self Lender 12Month CD: June 20th 19’

Short Term Goal: Auto Lease 2020 Jeep MOAB
Chase 6/24 In-Branch Pre-approvals for all chase credit products - Goal Achieved but not taking the bait.. YET!
Message 22 of 211
Frequent Contributor

Re: Discover Secured Graduation?


@Jago22 wrote:

@jlh1580 wrote:

I didn't get a CLI at graduation so I am stuck at $200. I can't imagine it's going to increase much, but I'll probably rarely use the card. What other options do I have in terms of cards with Discover? Is it worth it to app for Discover IT or should I just forget about Discover?


You can PC your card to an IT at anytime.   If you use it and pay it off A LOT, they will eventually raise the limit.  after 1 year a second card could become an option.  A card that doesnt start as secured does seem to do alot better. 


I didn't get a CLI either when my card went unsecured last week. I've already received my deposit back, I've noticed it's considered a Discover IT Chrome card now. Should I call and get a product change? I would assume they would start you off with a higher limit on the new card....no? 

 

And I was wondering myself, how much can the unsecured card even grow......


AMEX Gold / Home Depot CC $3K/ Discover IT Chrome $2K SL / PayPal MC $2K /
BOA BankAmericard $2K / BOA Cash Rewards $1000 / Cap One Savor One $1000 / Blaze MC $1500 / Credit One $850 / OpenSky $500 / AvantCard $500 / Discover IT Cash Back (Graduated Secured) $200 CLI to $400 / EBAY MC $300
Jan of 2017 Credit Karma: 404 -SEPT OF 2018: EX 652 EQ 626 TU 604
AUGUST OF 2019 1% UTL - EX 681 EQ 667 TU 659
Total Credit Limit: $16150 -
Goal Score: 675 for all FICOS (ACHIEVED EX)
Message 23 of 211
Frequent Contributor

Re: Discover Secured Graduation?


@CreditRebuilder2020 wrote:

@Jago22 wrote:

@jlh1580 wrote:

I didn't get a CLI at graduation so I am stuck at $200. I can't imagine it's going to increase much, but I'll probably rarely use the card. What other options do I have in terms of cards with Discover? Is it worth it to app for Discover IT or should I just forget about Discover?


You can PC your card to an IT at anytime.   If you use it and pay it off A LOT, they will eventually raise the limit.  after 1 year a second card could become an option.  A card that doesnt start as secured does seem to do alot better. 


I didn't get a CLI either when my card went unsecured last week. I've already received my deposit back, I've noticed it's considered a Discover IT Chrome card now. Should I call and get a product change? I would assume they would start you off with a higher limit on the new card....no? 

 

And I was wondering myself, how much can the unsecured card even grow......


I actually went ahead and called them about the PC. Was able to get a PC to a Discover IT cash rewards. But no CLI, she told me to wait 90 days.....but I can technically ask for a CLI at any time. Oh well. I'm in the garden so I'll probably wait the 90 days and then spring for that CLI. 


AMEX Gold / Home Depot CC $3K/ Discover IT Chrome $2K SL / PayPal MC $2K /
BOA BankAmericard $2K / BOA Cash Rewards $1000 / Cap One Savor One $1000 / Blaze MC $1500 / Credit One $850 / OpenSky $500 / AvantCard $500 / Discover IT Cash Back (Graduated Secured) $200 CLI to $400 / EBAY MC $300
Jan of 2017 Credit Karma: 404 -SEPT OF 2018: EX 652 EQ 626 TU 604
AUGUST OF 2019 1% UTL - EX 681 EQ 667 TU 659
Total Credit Limit: $16150 -
Goal Score: 675 for all FICOS (ACHIEVED EX)
Message 24 of 211
New Visitor

Re: Discover Secured Graduation?

My secured Discover card just graduated!!! Didn’t think they would this month as my utilization has been high the past few statements, just opened a new auto loan and a couple of new cards...no CLI, but that security deposit will be helpful with Christmas right around the corner Smiley Wink
Message 25 of 211
Regular Contributor

Re: Discover Secured Graduation?

Congrats to all of those who have graduated. I can't figure out what it is about my credit that creditor just don't give me near the same consideration as a lot of follks on here. I have had my Discover secured about 3 years and a WF secured for 6.5. No graduation. I have gotten all but 1 medical collection off my report. I closed the WF but for some reason still holding out of Discover. My Citi card graduated but is stuck at the $200 limit and I had a BoA secured that graduated, then 9 months later they closed the account. I about to close a Capital One secured that I have had since 2011. Amex has been the best to me so I thank those secured cards for what they did I guess, but I still cannot get another Citi, BoA, or Disover card as I have tried for unsecured cards for all 3. Alas, I will just keep on waiting. Majority of my spend goes to Amex now anyway. Again, congrats to those who have graduated but there are those here that are still patiently waiting.

Message 26 of 211
Member

Re: Discover Secured Graduation?

My 7th statement cut on Monday 11/19 no email so I figured it did not graduate. I checked my email last night and was happy to see I recieved the email informing me I have graduated and my 2500$ deposit will be returened in 5-7 days. During the 7 months I have had the card, I left a small balance 2 times and paid in full the other months. sometimes doing multiple payments as I always stayed under 70% of my credit limit.  

 

When I started with this card my FICO scores ranged from 560 - 580. My scores are now EQ 633 TU 636  EX 643. 

 

TJ  

Message 27 of 211
Established Contributor

Re: Discover Secured Graduation?

I only recently got my secured Discover it card. I only have one other card at the moment (very thin file).
This forum motivates and gives me hope and I love this card, so really hoping I have the same success as some of you.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


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Message 28 of 211
Regular Contributor

Re: Discover Secured Graduation?

You'll get there! My credit was nonexistent about 10 years ago. In a period of about 5 years, I was able to obtain Chase, AmEx, BofA, Citi and other cards with high limits. You just have to be agrressive with your credit growth strategy (multiple secured cards, apply for easy unsecured ones like Target after about 6 months of having those). After you've had your secured cards about 2 years, you'll get your foot in the door at a big bank.

 

Also, I might add that I ended racking up $70,000 on said cards and I ultimately defaulted and most of them charged off because of financial hardships and poor decision making. So I am here again, back on the horse rebuilding my credit and steadily working on my file and settling all those old debts one by one. I know now never to go down that road again with high limit cards (one of my charge-offs was for $23k from Fidelity Visa). I will be perfectly happy with my small Discover limit when it graduates because I don't really need anything more than a card that earns good rewards and can help me with some occasional travel.

Discover It $2k // Target Red Card - $700 // Synchrony Home - $2,500 // Merrick $700 // Legacy Visa $750
TU FICO: 637 (2 derogs remaining) EX FICO: 620 (6 derogs remaining) EQ FICO: 603 (6 derogs remaining)
The FCRA and FDCPA are laws, whether the creditors and debt collectors like it or not. Inaccurate information is ILLEGAL and banks ARE NOT REQUIRED to report anything (unless it's a correction to INACCURATE information).
Message 29 of 211
Regular Contributor

Re: Discover Secured Graduation?

My 7th statement cut on the 5th.  I checked this morning and it’s still secured.  We put $200 on it when I first opened it and two months later put another $1000 on it so the limit is $1200.  We run it up a good bit every month but always pay it in full or at least the statement balance.  We’ve never been charged any interest.  I was really hoping it would graduate this month as we could use that deposit to pay other things and put part of it back in savings.  

 

The only baddie we have is a BK discharge in April of this year.  I’m an AU on my wife’s secured NFCU card, and I have a Merrick card.   Both we do the same thing; charge up and either PIF or pay the statement balance.  Discover has my TU score this month at 644. 

Message 30 of 211
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