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Discover Secured Graduation?

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CivalV
Established Contributor

Re: Discover Secured Graduation?

Just an update my secured card is still secured. 6th statement cut December, 6th. Balance is at $30 & TU FICO score via Discover Scorecard is 628. No emails, no change in the luv button, no CLI. Hopefully next month! Glad I was being realistic with myself otherwise I would be sad haha
Message 31 of 610
Anonymous
Not applicable

Re: Discover Secured Graduation?

I’m interested to see what happens as well. My 7th Statement closed on Christmas Eve (24th) so from what I’ve gathered from almost every user lately is that I should know something by Thursday the 27th.

I’ve never been late on a payment but my only concern is that I’ve gone over my $500 secured limit a couple times due to just spending for the cash back on normal expenses. I’ve maxed the card 4-5 times during a few months but I always pay it right back off or at least down low. I also had a returned payment awhile back due to an error on my personal bank’s side which infuriating seeing how hard it is to get these things to graduate it seems. Score is currently at 614 via Discover thru TU.

Honestly I’m just hoping for the $500 deposit back, need to add another $500 to my Fundrise portfolio lol
Message 32 of 610
Brooklyn2018
Valued Contributor

Re: Discover Secured Graduation?

Mine hit the 7th statement on December 4th. I called in about a week later to check-no go.

Honestly, in the rebuilding phase, IMHO, I’m pretty much done with EXPECTING. I’m just going to use my cards responsibly and just move on. As always-“It’s not a race it’s a marathon.” Trying to keep up with it all is really challenging at times with so much going on in life. As long as WE not planning on abusing the PRIVILEGES that have been granted to US, yet again, IMHO, I think we’ll all be fine moving forward.
Just use your credit as it’s designed to be used, make your on time payments each month, clean up your reports the best you can, WHEN you CAN, and if they’ll graduate then they’ll graduate. With so-o many stories of graduating and non-graduating...I don’t believe there is any secret formula other than doing what a credit card consumer should do and that’s just be responsible in all areas within your credit profile.
So, moving forward, I’m not expecting anything other than expecting to be as responsible as I can be this round of credit that has been extended to me once again.
I kind of babbled on lol

Merry Christmas, Everyone!!! 🎄🎄🎄

😊

Goal Score: 600(within a year)**MET MY GOAL** | Goal Score: 700**MET MY GOAL** | Goal score: 800
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I❤️NY
Message 33 of 610
RehabbingANDBlabbing
Established Contributor

Re: Discover Secured Graduation?

My 8th statement just posted yesterday. I increased my security deposit from $300 to $700 last month, so I am sitting here with my fingers crossed! I did see that Discover did a soft pull on Experian last month 3 days after my statement, which I assume has to do with the review for unsecuring the account. Hopefully, my larger security deposit and $2,000 of spend this month will convince them it's time!

Message 34 of 610
Anonymous
Not applicable

Re: Discover Secured Graduation?

Good luck!  My 7th statement cut at the beginning of the month but my card stayed secured.  Hopefully soon.

Message 35 of 610
Brian_Earl_Spilner
Credit Mentor

Re: Discover Secured Graduation?

I've lost track. I'm on month 17 or something.

    
Message 36 of 610
Anonymous
Not applicable

Re: Discover Secured Graduation?

Just chiming in here with a few thoughts.

 

So clearly we have cardholders who have graduated to unsecured sometimes even before the posted company policy time frame (8 months), and then a few customers who have gone even a year or two without any progress.

 

2 questions then having said that: Does anyone know how computer automated Discover actually is with regards to this topic (along with CLI)? And, are the cardholders still waiting on graduation taking into consideration other factors (unrelated to the Discover card) on their overall credit profile that may be contributing to the unsecured delay?

 

Thanks!

Message 37 of 610
RehabbingANDBlabbing
Established Contributor

Re: Discover Secured Graduation?

 


@Anonymous wrote:

Just chiming in here with a few thoughts.

 

So clearly we have cardholders who have graduated to unsecured sometimes even before the posted company policy time frame (8 months), and then a few customers who have gone even a year or two without any progress.

 

2 questions then having said that: Does anyone know how computer automated Discover actually is with regards to this topic (along with CLI)? And, are the cardholders still waiting on graduation taking into consideration other factors (unrelated to the Discover card) on their overall credit profile that may be contributing to the unsecured delay?

 

Thanks!


I am fairly certain that the process is very automated and data-driven. I chatted with a rep the other day who said the entire process is electronic. The graduations happening exactly three days after the statement cutting would also seem to back up this claim. In addition, I notced a soft pull on Experian from Discover exactly three days after my 7th statement cut. My 8th statement cut on the 24th, but I have not yet seen another soft pull from Discover on Experian yet. I am waiting for a dispute to finish on TransUnion right now so I can also look at the historical soft pull data from Discover on there. 

Message 38 of 610
Anonymous
Not applicable

Re: Discover Secured Graduation?

My 7th statement was on the 24th and today the 28th I logged in to see my SL is now $2000. I’ve been lurking in this forum for awhile and didn’t know what side of the coin I would fall on 😁
Message 39 of 610
RehabbingANDBlabbing
Established Contributor

Re: Discover Secured Graduation?


@Anonymous wrote:
My 7th statement was on the 24th and today the 28th I logged in to see my SL is now $2000. I’ve been lurking in this forum for awhile and didn’t know what side of the coin I would fall on 

If you get a chance, could you check to see if they soft pulled your reports and on what dates in relation to your statements posting and graduation? We are trying to pin down how automated this process is at the moment and what bureas they are checking for the graduation along with any spending/payment data. Any additional info you can provide would be extremely helpful! Thanks!

Message 40 of 610
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