Discover Secured Graduation?

[Ripgut]

Hi guys, this is my first post on these forums, hehe, I been lurking for a little bit. I deposited $200 and started using the card frequently. I would use all $200 and pay it all off several times a month. I would spend anwhere from $400 to $600 every month. I used the "credit utilization trick" and left 5% ($10) of my limit every time my statement cut, and then paid it the next day. After 7 statements they graduated me (woohoo!!) and sent me my $200 back in the form of a check in the mail and raised my limit to $2000.

My question that kind of goes along with this thread is when should I ask for a CLI? I just graduated in the begninning of this month (March 2019).

[Anonymous]

I also am making my first post.

I got my card at the end of last June....more so because the $300 deposit I put down was worth what a subscription to Fico scores would be valued around. It is obviously refundable so I didn't think I had much to lose. So far the score card has been spot on for anything else I've needed to do (first auto loan in 4 years) . I've financed I believe around 12-15 cars so that gap was worth noting.

So far I've made a couple calls to see if they could do anything which they couldn't outside of taking additional deposit funds.

I'd like to remain hopeful, but heading past the 8th statement it's not the end of the world if they do nothing for me.

Capital One has been more than fair with me with $4000 in credit limit increases for me in the past 6 months between two cards.

At the end of the day I don't think I'd cancel just for the $300 back because the Fico Scorecard has been so useful.

Nothing is more worthless than my Chase freedom card. I've had this thing 9 years at $300 with not a single CLI and 3 denials one of which was a banker insisting on getting it done on their end over the phone. I've never understood because I had this card when I bought my house and my TU was 789 at that time with not a single blemish on my credit.

Nowadays I have clean history 12 months + but I did have some hiccups in 2015 so if they didn't help me at my best I can't see things ever changing. Before anyone asks why haven't I applied for a different chase card I just have read too many things about needing 740 + and I'm just not there again yet.

I think I'll give Discover 15 months tops before I consider actually pulling the plug. I'll miss the FICO score card more than the $300 line I'm currently using $26 of

[Anonymous]

Day after my 10th statement posted. No late payments. No excessive balances. Only secured at 300. I've called before. Still no good news.

I found out through my new credit union I get free FICO scores online if I register. If that is true once I have time I won't be keeping Discover much longer after the one year mark. I've had First National Credit Card double my limit within the last month. They have an annual fee, but at least they're trying to help.

I just don't understand all these people with barely 600 credit scores that got unsecured on their 8th month with 300 deposit returned and CLI to 2,000

WHY DO THEY HATE ME?!  I swear I saw multiple people with bankruptcy get unsecured. 

[Brian_Earl_Spilner]

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@Anonymous wrote:

Day after my 10th statement posted. No late payments. No excessive balances. Only secured at 300. I've called before. Still no good news.

I found out through my new credit union I get free FICO scores online if I register. If that is true once I have time I won't be keeping Discover much longer after the one year mark. I've had First National Credit Card double my limit within the last month. They have an annual fee, but at least they're trying to help.

I just don't understand all these people with barely 600 credit scores that got unsecured on their 8th month with 300 deposit returned and CLI to 2,000

WHY DO THEY HATE ME?!  I swear I saw multiple people with bankruptcy get unsecured. 

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Don't feel bad. I just hit 21 months, all scores up over 100 points, and nothing. I thought about closing it, but I don't miss the money and like the rotating categories most of the time. Can't qualify for another card. Not sure what they want from me. I've never burned them.

[Anonymous]

Had my secured card graduated last night after 14 months. I recently had alot of baddies removed and age off. Score shot 80-100 points .

Deposit 300

They increased my line to 2000

Usage: moderate use. For the first 11 months I kept the card maxed usually paying minimum or just above . The past 3 months I paid off in full. Zero balance this cut.

Statement date is the 5th so it fell on a weekend so had to wait a few extra days I assume.

TU FICO 665 , I have student loans that defaulted and are paid from 4-5 years ago. Still show some lates 12 accounts.
Tu FICO on 3/4 was 581

I recently opened about 8 accounts and added myself on to au accounts that my wife opened (2) accounts.

Honestly I think they like low utilization, doesn't have to PIF. Just use the card normally and if your score goes up with good usage you probably get and increase and graduate.

[AlmostCreditGenius]

I initially was denied for the secured card because my chapter 13 bankruptcy hadn’t discharged yet. Discharged in Sept 2018 and was issued secured Discover card after depositing $2,500.
My ninth statement is due to be released on Friday, April 26th, 2019. I have read that others secured cards graduated to unsecured with deposit refunded a few days after 9th statement. I’m very hopeful that I’ll have good news in about a week.

[Anonymous]

Took me 14 statements. Graduated from 300 to a 2k limit. Tu 670, exp, 686, and eq 630 on grad.

[AlmostCreditGenius]

Correction... my 7th statement releases in about a week. I’ll post with updates.

[Anonymous]

Took me 13 statements...wasn't responsible with card...no lates but high utilization...CLI from 200 to 1k...scores in 630s on increase

[AlmostCreditGenius]

Graduated to unsecured Discover Card. My deposit was $2,500 from the initial issuance, and my unsecured card carries the same $2,500 limit. I immediately tried for a CLI through Discover’s website and over the phone with an agent... both attempts unsuccessful. Still happy to have graduated after only 7 months. All 3 scores in the upper 680s. Chapter 13 bankruptcy discharged in September 2018. Income $220,000 annually. Liquid assets $150,000.