For anyone who is searching or browsing the MyFICO forums on information on the Discover IT Secured, or for anyone who is rebuilding and wondering what secured card to go with, I thought I would share my experience with Discover. (Spoiler alert: I LOVE DISCOVER)
In January 2018 I had abysmal credit. My TransUnion FICO 8 score was 552. I had nothing currently good in my credit file. My only open accounts were three collections (one paid in full, two open with balances), two charge-offs (one paid in full, one with a balance), and my mortgage which had 12 months of on-time payments but before that had many many lates, December 2016 being 120days late. I had some closed accounts that were closed in good standing (a few credit cards, a student loan, and a car note), but anything open was bad news bears.
After weeks of researching how to rebuild and what secured card to apply for, I settled on Discover IT. The main reasons I went with Discover were:
So, I applied online. I paid $200 for an opening deposit and was instantly approved, which was surprising to me because of how bad my credit scores were. Here's how things went from there:
I found out today that my Discover, which was due to graduate with this 09/04/18 statement, did in fact graduate! I will be receiving my $400 deposit back, and got a credit limit increase to $2000!
Discover's customer service is by far the best I have ever dealt with. I was never on hold more than a couple minutes, their representatives spoke clear english with no heavy accents, and they were extremely friendly and helpful. I am 100% convinced the reason my FICO score has grown by over 70 points this year so far is because of my decision to go with Discover. If you are debating and want to trust the opinion of a stranger on the internet, this is my advice.
Great job, mm! What a beautiful (incomplete) tale. I look forward to hearing more.
Thanks for the step by step and congrats! My discover secured is coming this week.
Thanks for sharing your journey with us!
What an inspiring post! Congratulations!
You can call Disco and see if they will PC that bad boy to the 5% card if you'd like.