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Discover Secured Graduation?

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Frequent Contributor

Re: Discover Secured Graduation?

Updating on graduated Discover card. Almost a year since my Graduation from $300 to $2000 but no CLIs since then. WOMP WOMP. Applied for my first Chase CC after being in the garden for 1 year and received an SL of $5000 💪🏼

Discover does not look promising to me and they also do not want to prequalify me for a second card 👎🏼
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 620 TU8: 645 EX8:640
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA: 7YRS 6MONTHS AAOA: 2YR 6MONTHS
Inquiries in 12 months: EQ: 1 TU: 1 EX: 1
CLOSED: Self Lender 12Month CD: June 20th 19’


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17%
Message 261 of 305
Regular Contributor

Re: Discover graduation! Steps I took

No graduation for this month.  I'll update again next month.

 

@joltdude -- may I ask why you're thinking I might get lucky around March?  Just trying to understand






Message 262 of 305
Established Member

Re: Discover graduation! Steps I took

Same for me. Maybe the 9th statement!
April 2019 (4 collections)
EQ - 563
TU - 586
EX - 578


December 2019 (0 collections)
EQ - 637
TU - 667
EX - 657



Gardening since Dec 28th, 2019
Message 263 of 305
Established Contributor

Re: Discover graduation! Steps I took

Congrats on the Chase approval!

Message 264 of 305
Contributor

Re: Discover graduation! Steps I took

my 11th statement cuts today i dont expect to Graduate any more. no reasons why i should not graduate but im starting to feel they prolong graduation if you put a 1000 or more for a deposit, people who deposit 300 or less seem to have no problem graduating. just my opinion
btw if mine do not graduate by my 13th statement i am going to close mine. i rather make interest off my 1000 bucks than continue to allow discover to make it. i have no need for my 1000 dollar secured card no more. so i do plan on cutting ties with discover very soon if they dont graduate me 🙄



Message 265 of 305
Contributor

Re: Discover graduation! Steps I took


@mrfufoppss wrote:
my 11th statement cuts today i dont expect to Graduate any more. no reasons why i should not graduate but im starting to feel they prolong graduation if you put a 1000 or more for a deposit, people who deposit 300 or less seem to have no problem graduating. just my opinion
btw if mine do not graduate by my 13th statement i am going to close mine. i rather make interest off my 1000 bucks than continue to allow discover to make it. i have no need for my 1000 dollar secured card no more. so i do plan on cutting ties with discover very soon if they dont graduate me 🙄

I don't think it's that necessarily, because I only have $200 on mine and they still haven't graduated me. My 13th statement just cut last week. Smiley Sad

 

 



NFCU Cash Rewards $12,500
NFCU More Rewards Amex $6,000
Merrick DYL $1,400
Discover Secured $200
NFCU CLOC $500
Message 266 of 305
Valued Contributor

Re: Discover graduation! Steps I took


@mrfufoppss wrote:
my 11th statement cuts today i dont expect to Graduate any more. no reasons why i should not graduate but im starting to feel they prolong graduation if you put a 1000 or more for a deposit, people who deposit 300 or less seem to have no problem graduating. just my opinion
btw if mine do not graduate by my 13th statement i am going to close mine. i rather make interest off my 1000 bucks than continue to allow discover to make it. i have no need for my 1000 dollar secured card no more. so i do plan on cutting ties with discover very soon if they dont graduate me 🙄

Sorry your Disco hasn't graduated yet.   

 

Curious:  has anyone ever asked Disco if it's possible to lower your secured limit? I know you can increase it with additional deposits but wondering if the reverse is also true.   If it is possible, then I'd suggest lowering it to the minimum deposit amount ($200?) rather than closing it altogher.  This way you'll get most of your money back to use/invest as you see fit, while still holding on to the card.   Put a little charge on it each month, pay it, and wait for it to eventually unsecure.  This way you keep the account open on your reports for how ever many years to come...   just a thought.   

 

Best of luck with graduation,  I hope it happens soon for you! 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 01/2020: EX 767 ✦ EQ 742 ✦ TU 757
Current FICO 9s | 01/2019: EX 774 ✦ EQ 776 ✦ TU 766
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 2.11 years not incl. AU / 3.2 years incl. AU
My AoOA: 6.11 years not incl. AU / 8.11 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 267 of 305
Community Leader
Senior Contributor

Re: Discover graduation! Steps I took

partially thinking the multiple deposits... might be waiting for 3 months after the last deposit. its just a guess ...
Message 268 of 305
Contributor

Re: Discover graduation! Steps I took

No Graduation this Morning 🙄 im not going to lose any sleep over it, with a 1000 dollar cap on Gas Purchases for the 2% is not much i have a 3% cash back card with 20000 caps. "life goes on" 😂 now i must make my self keep the card, this will be hard to as my options become better as "time" goes along. besides Nay Fed has been so good to me and chase, they will get all my Buisness in the Future so with that being said i feel im in a good place to continue establishing myself with the ones who take care of me first! Navy Fed and Chase



Message 269 of 305
Regular Contributor

Re: Discover graduation! Steps I took

After your 1 year you should see if you prequal unsecured like I did. I'm really happy with Discover as a card, but was similarly frustrated by lack of graduation with proper use.





Message 270 of 305
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