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Discover Secured Graduation?

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Re: Discover Secured Graduation?

Update 2/26/019:

My Discover It secured graduated today!!!! My statement cut on the evening of the 23rd and the CLI showed up at 1am today on the 26th. I got a credit limit increase from $700 to $2,000!!!! I’ve used the card pretty heavily to maximize the cash back bonus and I’ve been paying in full every month (multiple times). They didn’t graduate it until the 10th statement. They probably did so now versus my 7th statement because my TU score went from 613 to 655 after several negative items were deleted. I still have 2 charge offs and 1 collection reporting on TransUnion, but it graduated anyway. Thank you Discover!!!!!!
Discover It $2k // Target Red Card - $700 // Synchrony Home - $2,500 // Merrick $700 // Legacy Visa $750
TU FICO: 658 (2 derogs remaining) EX FICO: 620 (6 derogs remaining) EQ FICO: 610 (6 derogs remaining)
The FCRA and FDCPA are laws, whether the creditors and debt collectors like it or not. Inaccurate information is ILLEGAL and banks ARE NOT REQUIRED to report anything (unless it's a correction to INACCURATE information).
Message 61 of 152
Valued Contributor

Re: Discover Secured Graduation?

My 50th statement cuts on February 5 and I’m still secured.

My TU has gone up 151 points since I got it but there is still a really old baddie that I can’t get rid of outside of waiting for it to age off so if that’s what’s holding it back then I just have to keep waiting.
Message 62 of 152
New Contributor

Re: Discover Secured Graduation?

Grats to those who graduated! Smiley Very Happy


At this point based on the data points (or lack thereof in proving my theory), I'm 100% convinced that if you deposit a high amount to the card initially (up to $2500), or any combinations of small deposits leading to a large credit line due to the consumer, that upon graduation Discover will NOT give a CLI at all.


I have yet to see proof that a customer maxed out their deposit at the beginning and, upon graduation, Discover unsecured the card whilst giving an equally significant CLI amount on their end (thus resulting in a simplistic formula of $2500 (from the customer) + $2000 (from Discover upon graduating) = $4500 (hypothetical amount).



Message 63 of 152
New Visitor

Re: Discover Secured Graduation?

Hello Everyone, long time follower first time poster.

I was reading this thread last week trying to gather information because I was trying to figure why and when my card would graduate. When I called a few months ago they said it was automated like has been mentioned on here several times and there was nothing they could do. I would just have to wait and they didn't know the formula.

Well Saturday 2/16 I get an email that my card has finally graduated after 15 months and they will be returning my deposit. My initial deposit was $700 and they are only giving my a $50 CLI bringing my total CL to $750. While I am happy it finally graduated after 15 months. I was rather disappointed with the CLI as I was expecting more since I deposited more and my balance was always paid in full every month and was never late. I may reach out to customer service and see if I can get a CLI that way since I have read others have done that. I was expecting to at least get a CLI of $500-800 based on my opening deposit and responsible use of the card, but nope, only $50 CLI and I am rather disappointed with that.

I have other sub-prime cards where I got CLI that were several hundred dollars more and even got approved for a second card with another lender for $1000 based on my credit worthiness and they gave me a CLI of $150 on the other card.
Message 64 of 152
Established Contributor

Re: Discover Secured Graduation?

While you put in more than the minimum security deposit, all of your data points are looked at in determining your limited after unsecuring.
As your credit scores increase so will your spending limits.

Congrats on unsecuring.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750

Take the myFICO Fitness Challenge

Message 65 of 152
New Visitor

Re: Discover Secured Graduation?

Thanks! It is rather head scratching when my scores are in the mid to upper 600's and I have read others with scores in the 500's get larger CLI's with lower deposits. Also since I have sub-prime cards with higher CLI's and higher overall CL. I just figured I would expect more from a larger lender like Discover. Just wish we could figure out what Discovers Algorithm is and what data points exactly they are looking at.
Message 66 of 152
Community Leader
Senior Contributor

Re: Discover Secured Graduation?

@michikade what are your current scores... Both FICO TU and EX if possible ..(an EX score can be obtained from CS)

Am curious about what baddie is holding you back .. 




Message 67 of 152
New Member

Re: Discover Secured Graduation?

Mine just unsecured after 7 statements. Went from $600 to $2000! Scores are ~630ish at  most with several baddies still on there. Ran it up high but last few months paid before statement cut. Instantly went to $2000 nearly as soon as the statement cut.

Message 68 of 152
Valued Contributor

Re: Discover Secured Graduation?

@sarcean1 wrote:

Mine just unsecured after 7 statements. Went from $600 to $2000!

That is AWESOME!!!!!!!!  Glad to hear a positive result and thanks for sharing dp's.  It really is a relief to hear you got what you signed up over here hoping the same thingSmiley Tongue.  

Starting Score: 579
Current Score: 744
Goal Score: 850

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Message 69 of 152
New Member

Re: Discover Secured Graduation?

Been lurking in this forum since last year. I am new to credit. No credit file at all before being approved for my first and only card so far last year. Approved for a Discover it Secured in July 2018. Got my first ever FICO scores last month which is TU: 759 and EX: 749.. I don’t know my EQ.

Charged around $150-500 monthly, paying multiple times because my deposit is only $200. PIF before due date and leave $5 of the current balance to report when statement cut. There was only 1 month where I let it report a $0 balance. Never paid interest.

My 7th statement cut on Feb 23rd. Today Feb 27th, After 3 business days my CL increased from $200 to $2,000. Haven’t received the graduation email yet. FICO scores as of Feb 17th is TU: 771 and EX: 769

So happy! Will try the love button after my 10th statement cut. Might also apply for a new card once I reach 1 yr credit history.
Message 70 of 152
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