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Discover Secured Graduation?

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New Member

Re: Discover Secured Graduation?

My discover graduated this morning.


I opened the account with a 300 cl. Eventually got it up to 2500.

I opened it in July of 2017 . It finally graduated in June of 2019.

Score was as low a 565 in July of 2018. I recently went on a app spree. My credit soared to 667 in March of 2019 when I started adding accounts. June 2019 I had a 628TU and 569EQ according to credit karma. But discover scores me 648. With 658 being my may score.


So stay encouraged. I'm looking to save this 2500 and possibly open another secured card.
Message 121 of 152
Established Contributor

Re: Discover Secured Graduation?

@mytakeoutmiami,

Without knowing more specifics, I might suggest not opening another secured card.  Sounds to me like you are on the cusp of normalcy and would better be served by a cool down and evaluate period.  2 cents.

 

 

050719:     
081719:     

A regretful expert. I have repaired before, I will repair again. My current goal is 670 FICO08 across the board by November 2019.
Message 122 of 152
New Member

Re: Discover Secured Graduation?

I will take that advice. I will take at least 6 months off from new accounts. Ideally 1 year but definitely 6 months.
Message 123 of 152
New Member

Re: Discover Secured Graduation?

Yey! Got another Auto CLI 4 months after my secured discover it graduated. Started with $200, graduated after 7 months to a $2000 limit, then tried the luv button after 3 statements since graduation but was denied. Now after 4 statements, got an auto cli of $1000 making it $3000. Tried to use the luv button hoping for a double dip but denied again. lol

Only been charging around $400-500 each month, and pay in full, leaving only around $50 to report.
Current Fico 8 TU is 771 and EX 769. This is my first and only card as of now.
Message 124 of 152
New Visitor

Re: Discover Secured Graduation?

Congrats Jago22! It looks like you accomplished Credit Karma's goal of 21+ accounts. Smiley Happy



Chase Freedom $4k | Chase Freedom $5k | Amazon Store Card $1600 | Discover IT Chrome $1500

FICOs: EX 753 (4 inquiries) / EQ ?? / TU 824
Message 125 of 152
New Visitor

Re: Discover Secured Graduation?

I got a Discover IT Chrome secured in December. A few days after my July statement cut, I noticed my limit went from $200 to $1500. Since I didn't add any money to my security deposit, it looks like they've graduated me. Discover didn't send an email yet.

This is an attempt to thicken up my "thin file". In December, I got denied a store card for the company I work for. At the time, I had a 799 Experian FICO score but First Bank Card didn't like the fact that I only had 3 credit cards and no loans (the third credit card was also only 2 mo. old at the time). I promptly applied for a credit builder loan because of the low interest rate and small minimum amount.  Then, I got prequalified for a Discover card. Unfortunately, Discover ended up denying me an unsecured card due to "too many inquiries in the last 3 months", "too many inquiries in the last 6 months" and "no open installment loans". Once my inquiries fall off the report, I plan on applying for a few more cards. Might as well take advantage of sign up bonuses and rewards.



Chase Freedom $4k | Chase Freedom $5k | Amazon Store Card $1600 | Discover IT Chrome $1500

FICOs: EX 753 (4 inquiries) / EQ ?? / TU 824
Message 126 of 152
Regular Contributor

Re: Discover Secured Graduation?

I'm now on month 15 of still being secured on my Discover.  I honestly don't get it.  I just got approved for a $5k SL with NFCU, and I've been very good with all of my credit since our BK DC last April.  Discover gets paid in full every month and we run quite a bit through it.  I'm going to move all of the recurring stuff to my new NFCU card and possibly sock drawer the Discover.  Even my wife who has similar credit was able to get an unsecured card with Discover 4 months ago with a $500 SL.

Message 127 of 152
Contributor

Re: Discover Secured Graduation?

Right there with ya lol. Are you prequalified for an unsecured card with discover too?
Message 128 of 152
New Visitor

Re: Discover Secured Graduation?

Did you, by any chance, have a returned payment? A lot of people had issues graduating if the payment got returned even if they noticed it and fixed it before the due date. 



Chase Freedom $4k | Chase Freedom $5k | Amazon Store Card $1600 | Discover IT Chrome $1500

FICOs: EX 753 (4 inquiries) / EQ ?? / TU 824
Message 129 of 152
Regular Contributor

Re: Discover Secured Graduation?

Never had a returned payment and I did try to prequal for an unsecured and was turned down.  My TU score according to both Discover and NFCU is 655 so I'm not really sure what the deal is.

Message 130 of 152
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