Discover it Secured Graduation!

[notmyrealname23]

Congratulations.

Because Miss Disco is weird and inexplicable, I just killed my DiscoverIt Secured Chrome ($500) today, because Discover gave me a new DiscoverIt Cashback with $5,000 unsecured credit line a few weeks ago (and a new year of Cashback Match), since today was the Cashback Match anniversary for the old card.

So, basically, the net effect is instead of graduating my card and/or bumping my credit line (which I would have been perfectly happy with, would have PC'ed to the Cashback card), what they did was give me a $4500 CL increase, graduate the card AND a second year of Cashback Match, but I had to trade a year off of AAoA to get it.

Um, OK? Thanks very much for the extra $$$ you didn't have to give me, Miss Disco. It's WELL worth taking a year off the age of an account. Like I told the nonplussed account manager this morning when I explained what I was doing (who also was confused why I hadn't graduated), I'm very happy with Discover. I hope you end up happy with them too.

[cr101]

congratulations on your grad and cli.

these are very good and interesting dp. we share the same statement cut date and i opened my acct 2 months after you. so, i'm hoping i have the same luck in 2 months--if i grad on time. i've been curious about the actual grad time after tt a discover rep. this rep told me that it would be after 8 MONTHS and i just noticed that the site also says months, not 7 statements. the rep said that they say this bc it was causing confusion. hoping it's 7 statements for me.

@notmyrealname23 how long did you have your card? are you saying that you told them to close your secured card? i would have kept it and waited for the grad and -hopefully- cli. congrats on your new card and limit, though.

[notmyrealname23]

I had the secured Discover card for almost a year. Perfect payment, never carried a statement balance, it got used to the tune of $75 cashback in a year. By that point I was around 40k in unsecured lines, most with bad AAoA, since save for one Cap One account (which is backdated pre-Ch 13) they were all minted in 2019. So I don't really care THAT much about closing accounts looking bad.

I'm not keeping $500 in a non-interest bearing, highly illiquid bank account (in effect) just so I can slightly improve my AAoA and available credit, especially if Discover will just give me a different unsecured line that is 10x the size. Basically once the GOOD unsecured cards started showing up (within a couple months of me having $1500 of secured lines I had $15k in unsecured ones, no AF, some with 2% cashback) I no longer actually needed secured ones. They're stepping stones to the good stuff. The main reason I kept that card around the full year was to grab the cashback- when my credit union ALSO said they would not graduate me to unsecured, in this case, not until 2021 when the Chapter 13 fell off, I told them "smell you later, I have five digit unsecured lines with better terms, there's no real point in me holding a $500 line that'll go over 20% utilization if I take some friends out to a nice birthday dinner, my treat".

[Anonymous]

Congratulations! Was the Discover It secured card your first card? Were you an AU on any cards prior to that? My secured card just graduated today and I opened it in July, 2019 as well!

[Anonymous]

Congratulations on your graduation and CLI! 👍

[blindambition]

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@Anonymous wrote:

Just in case another DP would be helpful:

Got my secured in July 2019, first statement cut Aug 2019. Kept util at either zero or under 9% every statement. Also have a CapOne secured and an Apple card reporting with similar utils. FICOs are 724 TU and 717 EX. I got the pop up notification in the app in early Jan asking me to confirm my address in case they refund my deposit. Seventh statement was three days ago, and I just logged in to see a CLI to $1500 from $200! Will probably get an email in the next few days but will be patient.

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Congrats on your successful graduation and CLI. 🥳 

[19eighty5]

Congratulations!

[Anonymous]

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@notmyrealname23 wrote:

Congratulations.

Because Miss Disco is weird and inexplicable, I just killed my DiscoverIt Secured Chrome ($500) today, because Discover gave me a new DiscoverIt Cashback with $5,000 unsecured credit line a few weeks ago (and a new year of Cashback Match), since today was the Cashback Match anniversary for the old card.

So, basically, the net effect is instead of graduating my card and/or bumping my credit line (which I would have been perfectly happy with, would have PC'ed to the Cashback card), what they did was give me a $4500 CL increase, graduate the card AND a second year of Cashback Match, but I had to trade a year off of AAoA to get it.

Um, OK? Thanks very much for the extra $$$ you didn't have to give me, Miss Disco. It's WELL worth taking a year off the age of an account. Like I told the nonplussed account manager this morning when I explained what I was doing (who also was confused why I hadn't graduated), I'm very happy with Discover. I hope you end up happy with them too.

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That's very weird! Hopefully you'll have better luck with the new card than the first

[Anonymous]

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@cr101 wrote:

congratulations on your grad and cli.

these are very good and interesting dp. we share the same statement cut date and i opened my acct 2 months after you. so, i'm hoping i have the same luck in 2 months--if i grad on time. i've been curious about the actual grad time after tt a discover rep. this rep told me that it would be after 8 MONTHS and i just noticed that the site also says months, not 7 statements. the rep said that they say this bc it was causing confusion. hoping it's 7 statements for me.

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I also got confused by the month vs statement thing (I think the credit karma "months open" doesn't quite align with my statements?). Although I guess if the 7th statement has cut then you're technically into the 8th month when they graduate. Good luck two months from now!

[Anonymous]

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@Anonymous wrote:

Congratulations! Was the Discover It secured card your first card? Were you an AU on any cards prior to that? My secured card just graduated today and I opened it in July, 2019 as well!

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So my Capital One secured is a month older than the Discover. I didn't read any of the forums before applying for the C1 and didn't realize that it would never unsecure. When I realized, I got the Discover because I assumed I'd want to close the C1 sometime in the next year or two.

Also, I've never been an AU. The only things on my credit report are the three cards that are completely in my name. Congratulations to you as well on the graduation!