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I only picked up the secured card for a minimal tradeline I could do some testing on (before realizing 5/24 really sucks but I digress) and since I was getting plenty of pre-approvals for the IT card prior to this, figure this is close to as good as it gets for graduation.
Applied: 6/20/16
Graduated: 1/9/17
Deposit: $200
Graduation Limit: $1500
High balance: $180
Total spent: ~$209
Floated a balance in 11/16 ($151 paid minimum $20) PIF'ed the $180 in December. Only had a $9 balance before this, so balances 3 months out of the period.
I applied super close to the date (06/2016) you did and received a graduation email tonight 01/09/2016 also. $500 deposit for $500 CL. I put over $600 dollars on the card last month and PIF. Before this I only put gas on the card. They cli me to $1000 and I chatted with them online tonight and they changed my account from the IT chrome card to the regular 5% IT card on the spot. Should be receiving my new IT card in the next few weeks. However, the CSR stated on I could my existing card as well for the new rewards. So now I'll have two discover cards with the same benefits.
@Anonymous wrote:I applied super close to the date (06/2016) you did and received a graduation email tonight 01/09/2016 also. $500 deposit for $500 CL. I put over $600 dollars on the card last month and PIF. Before this I only put gas on the card. They cli me to $1000 and I chatted with them online tonight and they changed my account from the IT chrome card to the regular 5% IT card on the spot. Should be receiving my new IT card in the next few weeks. However, the CSR stated on I could my existing card as well for the new rewards. So now I'll have two discover cards with the same benefits.
That seems to be common for some PC'd cards, my Chase CSP->CSR was the same.
I'm debating asking for the real IT package, I need to decide whether to close it or PC it into usefulness. I may just PC it to usefulness and leave it there in case I go back to a cashback focus... missing the most excellent 10% bonus though but there's no guaruntee that will still be around when I actually want the Discover card.
Appreciate the datapoint!
Edit: actually not quite the same, the rewards package got switched over immediately in Chase's case, apparently the new rewards for Discover don't take effect until the end of the current billing cycle (which is another month for me, not that it really matters heh). Decided to PC it into something potentially useful in the future, though won't be CLI chasing on it.
thanks for sharing. I have the disco secured card, opened 2/16 and its still secured. im hoping it does unsecure soon!
Becksworth wrote:
I applied super close to the date (06/2016) you did and received a graduation email tonight 01/09/2016 also. $500 deposit for $500 CL. I put over $600 dollars on the card last month and PIF. Before this I only put gas on the card. They cli me to $1000 and I chatted with them online tonight and they changed my account from the IT chrome card to the regular 5% IT card on the spot. Should be receiving my new IT card in the next few weeks. However, the CSR stated on I could my existing card as well for the new rewards. So now I'll have two discover cards with the same benefits.
Update on my post above. I hit the CLI button on the discover website to see if they were offering anything. Expecting nothing, they offered me a $1500 increase bringing my total CL to $2500. A day ago I was at a $500 secured CL on this card. Fast forward 24hrs and now I am at $2500 unsecured! Crazy how fast things can change! My TU score via my last discover statement was reporting at 690
@pizza1 wrote:
Yay Rev!! Congrats to you on the graduation, and also for sharing a few data points, which Im sure others appreciate who have the secured version as well.
Laugh, this is one credit change I just shook my head on... fortunately I've decided to sorta of put a moratorium on my credit testing anyway so it didn't really matter, but I sort of figured I'd have longer to play with the reduced tradeline.
I guess if I get the FICO bug again I can ask for a CLD to whatever their minimum is and go play chase the breakpoint again and doing that on a 5x reward category is way way better than a 2x one admittedly, but life for the next year is going to devolve into a really simple pattern in terms of credit cards, which may well be a good thing TBH.
Credit maturity
I have had my Discover It secured card since last June. My 7th statement just cut on the 18th, I had no balance on the account. My overall utilization is ~20% and my TU FICO is 691 and EX is 695. My card did not unsecure though. I did call to see if they could give a reason, however she said they couldn't, but was able to confirm the review did take place, however my account was still not eligible for graduation. I have no baddies at all on my reports, just 2 inquiries. This Discover card was my first ever line of credit, and I only have a Cap1 QS and AMEX PRG both in good standing, and no late payments ever.
Hopefully next month they will. Just thought I'd share this even though mine did not graduate, as I've seen others with similar credit to mine graduate.
I have had the Discover secured card since 06-12-2015. I have 1500 limit. I use to put 3k-5k on it per month. When the card reached 1 year mark and it wasn't secured, I brought my usage down to 1 charge per month as I was obtaining Amex cards. The card still sits secured now. Not sure why I have numerous amex cards but they won't unsecure it.
Well, to update everyone, apparently the customer service rep was wrong lol. I just received the email saying they're returning my security deposit. I also checked for a CLI, and sure enough they increased my limit by $1000 bringing my credit line to $1500.