Discover Secured to allow Additional Deposit CLIs

[FinancialFreedom531]

Starting on May 13,2015 you can now ADD TO YOUR SECURITY DEPOSIT TO INCREASE YOUR CL!!!!

Just thought u secured card holders should know

[Whitneyy]

I find it hard to obtain this secured card, any pointers?

[Anonymous]

Thanks for sharing. I also received that same message this morning. I wish they'ed just start doing early graduation's.

[Anonymous]

This is awesome news. I just recently got declined for discover it and I was offered the secured version. I was only able to put $200 at the time. I haven't even gotten my card yet. Hopefully I can add more funds to increase my limit and then in a year or so it will graduate to unsecured. Thanks for sharing.

[stellar]

I have a Discover Secured card and this secure message came this morning.  Previously you could not add to the credit limit with deposits.

We've heard the feedback from cardmembers like you who want to get more from their credit card account. So starting May 13th, 2015, you will be able to apply for an increase to the credit line on your Discover it® Secured Credit Card Account; as a reminder, any increase in your credit line must be secured by an additional deposit to your Security Deposit Account equal to the line increase. Starting May 13, you'll also see a new page in your monthly statement showing your Security Deposit Account balance and any activity in your Security Deposit Account, such as an additional deposit to secure a line increase. We will also be updating your Security Agreement: the following page has those updates. If you have any questions, please call 1-800-347-3085 and our 100% U.S. service team will be glad to help. Thanks again for choosing Discover, Julie Loeger Senior Vice President

[chalupaman]

I think my dad will be pleased. His is like $200.

[newhis]

Will adding money result in HP like BoA secured?

[Anonymous]

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@newhis wrote:

Will adding money result in HP like BoA secured?

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There isn't any additional information posted yet.  It MIGHT but after It Miles came out a couple months ago and the CSRs not having updated information yet, I'm not calling to ask yet, haha.  Discover's CSRs are great but sometimes it takes them a little while to get all of the updated info.  I figure I'll wait until mid May when it becomes available to start clicking around on the site.

[Anonymous]

Thus is the message I received regarding hard pulls for secured credit increases-

"Thank you, for your message regarding your Discover account. I understand your interest in a credit line increase, and I am happy to provide more information on this upcoming change!

While a credit report is not always required for a credit line increase request, if it is needed, you will have the option to decline the hard inquiry at that time. This will help ensure that the application for a limit increase is withdrawn and a hard inquiry does not go through.

I hope this information was helpful. Please let me know if you have any additional questions or concerns about your account.

I appreciate your business and the time you have taken to contact me today. Thank you for choosing to use Discover since 2014, and I wish you a wonderful afternoon!"

[Anonymous]

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@Anonymous wrote:
Thus is the message I received regarding hard pulls for secured credit increases-

"Thank you, for your message regarding your Discover account. I understand your interest in a credit line increase, and I am happy to provide more information on this upcoming change!

While a credit report is not always required for a credit line increase request, if it is needed, you will have the option to decline the hard inquiry at that time. This will help ensure that the application for a limit increase is withdrawn and a hard inquiry does not go through.

I hope this information was helpful. Please let me know if you have any additional questions or concerns about your account.

I appreciate your business and the time you have taken to contact me today. Thank you for choosing to use Discover since 2014, and I wish you a wonderful afternoon!"

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Yeah, the rep was confusd about what you were asking probably, because that sounds like the canned response for every credit line increase (that's how they work for the unsecured cards).  I figure we'll find out more come May.