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@Anonymous wrote:My secured card graduated right after the 7th statement cut. My deposit was $2500 at account opening, and it graduated as $2500 CL. But I have received 2 CLI's since then - one ($500) after 10th statement cut, and the second one ($1100) after the 11th statement cut bringing my current CL to $4100. My 12th statement will cut next week and will see what that brings. Both the CLI's were DD (double dipped) - online CLI and calling them the same day to get some more.
My observation on CLI after Disco secured card graduation has been that you will have to wait for 3 statements after graduation. That was the case with me as well as a few other cases I have read here in the forum. That's also in line with the unsecured cards CLI criteria where you are eligible for your first CLI only after your 3rd statement cut.
I've been trying to get feedback on my question regarding this very topic for a while now, but to no avail. I'm seeing many people report a low starting deposit and then graduating to a high(er) CLI upon unsecuring. And, like your situation, customers who maxed out their initial deposit only to not have an actual CLI after unsecuring. But so far I have not seen an answer yet on someone who has deposited the maximum amount (or close to it) and after becoming unsecure they received an equally large CLI over and above their initial deposit.
I guess some things are meant to be a mystery!
@Anonymous wrote:
@Anonymous I've seen the same thing which is why I'm not bothering to up my security
I mean, in the grand scheme of things I guess it's not really a big deal but if there's a correlation to the Deposit vs Unsecured CLI formula (algorithm) then yes . . . it may not make sense to put an overly large deposit on the card pre-unsecured.
My 8th statement cut on the 5th and still no graduation. This will be a tough one I think because we use this card heavily for our monthly recurring expenses and we always pay the statement balance. This last month we had it near the limit when the statement cut, but again every bit of that is getting paid before the due date next week. I've never paid any interest on the card and we have probably run a good $8000 through this card since I got it in May.
The only other thing I can think of is Discover will be making me wait 1 year post BK discharge which will be this April.
@Anonymous wrote:My 8th statement cut on the 5th and still no graduation. This will be a tough one I think because we use this card heavily for our monthly recurring expenses and we always pay the statement balance. This last month we had it near the limit when the statement cut, but again every bit of that is getting paid before the due date next week. I've never paid any interest on the card and we have probably run a good $8000 through this card since I got it in May.
The only other thing I can think of is Discover will be making me wait 1 year post BK discharge which will be this April.
How's the rest of your credit profile look like? Discover looks at everything and not just their own card.
We do the same with the NFCU nRewards secured card that I'm an AU on. I have a Merrick card and we pay the statement balance on it though we rarely use it. Other items on our credit report (our two auto loans, student loan, and a personal loan) all are paid on time each month.