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Discover Secured Graduation?

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Regular Contributor

Re: Discover secure card grads reunion

TU is at 685 and my credit utilization is at 3%. No missed payments.  BK 13 mos ago

March 2011 FICO® ~ 595 TU, 605 EQ, 525 EX
Aug 2012 Lender pulls: 702 TU, 667 EQ, 660 EX
Message 451 of 477
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Community Leader
Senior Contributor

Re: Discover secure card grads reunion

@tammyjk Uhm. the BK 13 months ago is likely the issue...  even if discover was not burned.. Could try the prequal but that BK is probably the problem.. At one point it was at least 2 years before an unsecured Disco approval after a BK....  If you do close it, you probably will not get a unsecured Disco for at least a year, but as I said.. might be worth trying the prequal...   Sometimes folks narrowly get products and they wont move (unsecure/CLI) untill the issue is resolved.. Its not likely to be your score in this case... 

 

-J

 

 

 

Message 452 of 477
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Regular Contributor

Re: Discover secure card grads reunion

That's what I figured.  I even put them on auto pay and use the card once a month.  I also figured that given the current economy things are a bit tight as well.  One of the reasons I thought about just getting rid of it.  I may wait a bit but certainly not another year.

March 2011 FICO® ~ 595 TU, 605 EQ, 525 EX
Aug 2012 Lender pulls: 702 TU, 667 EQ, 660 EX
Message 453 of 477
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Established Member

Re: Discover Secured Graduation?

$200 secured card graduated last night was notified at 9 PM, Opened the email and checked my account at 7 AM this morning. Also got CLI to $750. My seventh payment had just posted. I still have a few collections under $200 each that are all medical from the same CA and OC, but they are all over four years and six months. Anyway My FAKO score had just shot up 74 points the day before, by paying a citi secured card down to zero balance from $1200.

Ashame that I still don't feel out of the woods from being subject to the income verification form Disco has been known to Spring on new card holders...ugh.

Message 454 of 477
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Valued Member

Re: Discover Secured Graduation?

Silly question, but does graduation count towards 5/24? 

AMEX Delta Gold
Discover IT
Chase Freedom Unlimited
United Explorer
Message 455 of 477
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Established Contributor

Re: Discover Secured Graduation?


@harunrun wrote:

Silly question, but does graduation count towards 5/24? 


While the year 2020 does continue to surprise me, I would be particularly surprised to see a Discover card graduation impacting 5/24.

 

I would expect account opening date to remain the same as when account were opened.

 

That being said, the bar is really high for a question to be silly.

Who here would have imagined AZEO if we had not read about it?

 

Edit: You might expect a Wells Fargo "product change" to not impact 5/24 and yet it does.

 

Message 456 of 477
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Valued Member

Re: Discover Secured Graduation?


@Jazzcat 

 


Congratulations! Mine graduated 08/20, got the check with deposit 08/24. Discover is the great Heart

We are going for a another Discover card for DH.

FICO® Score 8 (Sep 2020)
EX 725 | EQ 745 | TU 794



I am at the 9th month of my credit journey
Total CL: $35,000
Closed: CapOne Secured

Message 457 of 477
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Re: Discover Secured Graduation?

I opened my Discover IT with $200 a day after a CH7BK discharge.  It's been 3 years, 37 months to be exact, and no graduation.  My credit score was in the 500's then and is over 710 now for transunion and equifax.  Not one late payment.  I was able to get a new car 0 interest and the CapitalOne that I opened with a $500 credit line unsecured is now at $5,500.  No idea what their metrics are! And yes, I called them and they said the only thing to do is wait.

Message 458 of 477
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Community Leader
Senior Contributor

Re: Discover Secured Graduation?

Could try the prequal for a new card... at three years it's stuck in a bucket I'm guessing ... then if accepted, close the secured..... discover uses Asset backed securities . And yes Discover allows for you to have a regular and secured disco, and app for an unsecured while holding the secured product ..... the secured card has to be at least one year old to do this and yours is over three

 

-J 

Message 459 of 477
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Valued Member

Re: Discover Secured Graduation?


@TheRationalConsumer wrote:

@harunrun wrote:

Silly question, but does graduation count towards 5/24? 


While the year 2020 does continue to surprise me, I would be particularly surprised to see a Discover card graduation impacting 5/24.

 

I would expect account opening date to remain the same as when account were opened.

 

That being said, the bar is really high for a question to be silly.

Who here would have imagined AZEO if we had not read about it?

 

Edit: You might expect a Wells Fargo "product change" to not impact 5/24 and yet it does.

 


Thanks for the info.

 

Well, it seems like my card graduated. No email yet from Discover, but I logged into my app and it shows a $2000 CL instead of $200. Can't wait to get my deposit back now. Don't know why they just can't direct deposit it back to my checking account I used. 

AMEX Delta Gold
Discover IT
Chase Freedom Unlimited
United Explorer
Message 460 of 477
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