Discover Secured Graduation?

[Anonymous]

@themack Congratulations on your graduation and CLI! It took longer than expected but at least you finally got it back. I hope you PC'd the rewards to the Discover It Rotating 5% Categories. 

[Anonymous]

Itll be 7 months in january

[HappyBuilder42]

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@Anonymous wrote:

Anyone have experience with graduation if u have a returned payment and or went over ur limit? Thanks

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I have one returned payment.

Today I woke up to the email saying they are returning my deposit($600) and increasing my credit line(to $1800).

My 15th statement just cut.

I was suprised. I thought it would never graduate because of that returned payment.

Good luck. 

[trc123102]

Did they end up graduating you? I have the same situation.. went over CL by $2. What date does your 7th statement cut? 

[joltdude]

Returned payments, overlimits, and such tend to reset the 7 statement wait... And they still can say.. Nope....

-J

[trc123102]

I just wanted to share data points with you all. My hubbie and I both got Discover Secured IT cards at the same time earlier this year. Our 7th statements cut on Jan 13th and today we woke up to see credit limits had been increased and we have graduated. Have not seen an email or any message, but chatted with CS who did confirm we graduated and deposit refund check was mailed on 1/12. 

Hubbie: left a $300 Deposit; ran up to $800 in one month and $500 on average per month since we opened, always paying down each week and letting no more than $50 report (one time) - usually $2-$3 though; Never late, and went over the limit once by $0.75 (I thought it had been $2 but I was wrong). Scores were in the low 500s when started and mid 600s now. He had 2 derrogs that are still on his report (one SL c/o and one medical CO of $1300). CL increased to $1,800.

Me: started with $300 deposit but later added to the max of $2,500; ran up to $6,200 in one month and $4,400 on average per month since we opened, always paying down each week and letting no more than $0 report. Never late and never went over the limit. Scores were low 500s when started and are mid 600s now. Have many derogs including multiple SL lates  and auto lates (from over 3 years ago), few medical COs, 2 C/O from 6 years ago. I have had some derogs fall off during the time since I opened the account; however a new medical CO showed up that had fallen off on its own a few months ago so I was concerned that would impact graduation... it didn't. CL was increased to $2,700 so they did give me small increase even though I had maxed out my deposit (I've never seen any posts where an increase was given when max was given... could be I used this card A LOT). 

I have been reading on here for years and never posted, but I appreciate all of the info others have given as it's helped me a lot to improve my credit. I thought I'd post to share this with others and hopefully give them some hope too. 

Thanks!

[Anonymous]

@quikj9 @Anonymous  My card just graduated yay! Couple days after my 7th statement cut. I went from $800 to $1200 which isn't much but at least I graduated yay!

[quikj9]

@Anonymous YESSSS!!!! That's awesome. Congratulations! I'm thrilled for you. What a great way to start the day. 

[FinStar]

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@quikj9 wrote:

@Anonymous YESSSS!!!! That's awesome. Congratulations! I'm thrilled for you. What a great way to start the day. 

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It sounds like you're next in line @quikj9 😎  Any moment now I'm sure.

[quikj9]

@FinStar You were right! Woke up this morning to find that my Discover secured card has graduated. 

Thanks @Anonymous for leading the way, at least for the early June crew. @Anonymous the floor is all yours. Take it away!

DP's are as follows:

Opened 6/9/2020

SL $200

EX 556

TU 572

Graduated 2 days after my 7th statement on 1/23/2021

CL $1800

EX 646

TU 619

Changed to the 5% rotating categories in September. I've gotten one new card since acquiring my Discover secured card. Paid in full every month. Most months, I ran about $300-$400 through it. I only let a balance report once, just to switch up my AZEO card for that month. I did have a transaction denied for a recurring bill that would have taken me over the limit. That wasn't the smartest move on my part, but I'm glad it didn't affect my graduation timeline.