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Discover Secured Graduation?

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New Contributor

Re: Discover Secured Graduation??

I also recieved this notification. I am about to get my 7th statement as well.
I've had the Discover App since I opened the card and I've never once gotten this notification until today.

Here's hoping we graduate!

Message 311 of 546
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Established Member

Re: Discover Secured Graduation??

Honestly I would have paid Disco the $200 I used for my sec deposit they brought my credit from stuck at 570's to 625 and rising during these past 6 mths....lol. I have seven baddies in collection but just paid two of them off and planning to get the rest of them paid off next month so maybe this is the year I hit 700+!
Message 312 of 546
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Valued Contributor

Re: Discover Secured Cards That Graduated Highest Limits

I think the OP was asking the highest CL ever achieved by cards that were once secured - not the CL that they directly unsecure to.

 

In other words, if you had a Discover that unsecured (for example) four years ago and since then, you sought CLIs, what have you gotten it up to. I think the purpose of the question is to determine if formerly secured Discover cards are bucketed or something similar.

 

I am interested as well, but have no data to contribute. My card unsecured on around Dec. 17 to $1,500 and I haven't gotten a CL since then.


No derogs, but tons of inquiries and heavy credit-seeking behavior. 18/24, if I am counting the correct stuff. In March of 2019, I had no open accounts, a charge-off, two collections, and scores in the low 500s. What I call the "thick build method" worked for me, but may not work for every situation.
Cards

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $92,700, not counting the AU card. The AU card brings the total to $117,700. In March 2019, card CLs totaled $0.

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | American Express Delta Gold, $1,000, 09/19-10/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Message 313 of 546
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Established Member

Re: Discover Secured Graduation??

Mine was after the eigth month.  I had started using it as a type of savings account and adding to my deposit at month five so my limit had been upped to $700 and they bumped it to $1700 after graduation.

 

Message 314 of 546
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Valued Member

My DiscoverIt Secured Graduated!!!

Hey guys,

 

My 7th statement for my Discover secured card cut on the 16th. Didn't get an email or letter yet but noticed my CL went from $1200 to $2000 overnight and also my CLI button works!

 

Here's some details for anyone interested:

TU Fico 643

EXP Fico 619 (lots of new accounts holding it down, and my Experian Boost got cancelled due to unsupported bank issues. It was 624 a couple days ago)

Overall utilization across all credit about 10% on EXP, 32% on TU

Always charged up to around $800-$900 and PIF before statement close. Past 2 months I don't use it much.

Went from a $200 deposit to $1200.

Have 1 unpaid charge off from Wells Fargo from about 6 years ago

Also I moved my statement date twice so my statement was due to close in December but was extended a full month! Didn't affect it at all.

 

Good to see Disco out here unsecuring cards!!

apple-carddiscover-it-secured-card-012518platinum-card-artplatinum--preferred-card-artcapital-one-spark-classic-business-cardciti-secured card


Message 315 of 546
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Senior Contributor

Re: My DiscoverIt Secured Graduated!!!

Congrats on graduating!




F8 EQ: 804 | EX: 790 | TU: 809 | Accounts: 3/6 5/12 9/24
Happy practitioner of AZE9or10or11or12 | Team Finances > FICO
Message 316 of 546
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Valued Member

Re: My DiscoverIt Secured Graduated!!!

So heres a frame of reference since I haven't posted again about it.

 

Secured Discover $300 was activated in June of 2018. It has yet to unsecure

 

BUT in September of 2019 after my statement cut and still didn't unsecure I decided to run prequalification on their site...

 

boom, approved for a different card with $5,000 SL.

 

As of February of 2019 I had completely resolved any debts and everything was paid for as agreed.

I still don't have that card unsecured, but again...given I've acquired either better cards or increases it's becoming less an issue.

 

Perhaps I'll ask for my $300 back at the two year mark.

Message 317 of 546
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Established Member

Re: Discover Secured Graduation??

I received the same message around 1/13. Interestingly enough I noticed a change in the discover app today, at the bottom of the page under "activity" it says: "we're working for you" and then it says "we do automatic account reviews each month to see if we can return your deposit." 

my 7th statement cuts in about two weeks or so. 

Data Points: account opened early July with a $200 SL, added another $200 a couple months later for a total of 400. I run it up and PIF every month, about 3-4K charged through since opened. 

Also have a CITI secured with a $200 SL that has been open for about 13 months, and a Capital One Platinum at $300 SL that has since received an additional $100, and another $100 from credit steps in a couple of months. 

I have some COs that are about 1-2 years old, over all credit has improved since first secured opened (lower debt balance, resolving some CO debts) I am hopeful that these cards graduate with perfect payment history and improving profile. 

 

scores are still low, 580s across the board. 

 

do you mind sharing some of your data points and letting us know what happens after your seventh statement! 

Message 318 of 546
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Established Member

Re: Discover Secured Graduation??

4 days after my 7th statement is tonight so we will see what happens.... I have 6 baddies....all scores 570's when I was approved and now low 610's from a high of 626 (applied for cap one qs1 approved for  $300 cl....a cap one car loan at 11% on $16,000 my scores dropped 15pts)

Message 319 of 546
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Established Contributor

Re: Discover graduation! Steps I took

Graduated today after the 14th statement.  No CLI, tried to request one and was denied (slightly odd given the spend I put through it, but does not really matter since I have the 14.5k card from them).

 

You nailed it @joltdude - waiting until either account has a CLI so I can merge them.  Thanks again for your advice!









Message 320 of 546
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