(Update) Discover Graduated

[Shadowfactor]

I’ve been researching on the forums quite a bit but keep finding different answers so I figured i’d Ask.

How long does graduation take once the statement cuts ?
What signs are there that my account graduated ?

The 2nd was my 7th statement cut date. My card converted to the regular IT card as I requested but I haven’t seen a credit line increase as some members posted. The credit line increase button still takes me to that secured page.

Stats:
649 FICO 8 from 12/27 TU.
Limit : $200
Never carried a balance on the account, and always PIF. Mainly I would pay as soon as charges posted since the credit line was so low.
Charged anywhere between 900 on the card to 25 bucks each month. Averaged around $350-400 a month in charges.

No late/returned payments what so ever.

Update!
statement cut 1/2
graduated 1/5 at 1:22 am.
Confirmed via chat.
CLI page appeared, still no email or auto CLI as of yet.
Still at $200 CLI
Tried the CLI button. Denied for a CLI. Going to try again tomorrow or maybe next week after things process on their end

[Adkins]

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@Shadowfactor wrote:
I’ve been researching on the forums quite a bit but keep finding different answers so I figured i’d Ask.

How long does graduation take once the statement cuts ? 3-7 days after statement cuts - it seems to vary
What signs are there that my account graduated ? Email congratulating you & they're sending your deposit back. Or you log in and it shows a higher limit or the limit is unsecured. 

The 2nd was my 7th statement cut date. So was mine, but a statement hasn't actualky posted yet nor has an updated FICO score. I don't expect anything to potentially happen until it does. My card converted to the regular IT card as I requested but I haven’t seen a credit line increase as some members posted. The credit line increase button still takes me to that secured page. You won't get a regular CLI button until it unsecures.

Stats:
649 FICO 8 from 12/27 TU.
Limit : $200
Never carried a balance on the account, and always PIF. Mainly I would pay as soon as charges posted since the credit line was so low.
Charged anywhere between 900 on the card to 25 bucks each month. Averaged around $350-400 a month in charges.

No late/returned payments what so ever.

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How much has your score improved? What's the rest of your profile looking like? Baddies? Utilization? Etc?

[Shadowfactor]

My FICO score has improved right around 100 points since I got the card.

Util : always kept it under 9% mainly has sat right around 1-3%

3 collections. Started out with 6 when I first got the card.

Several new accounts.

[mysterythemoon]

It took them roughly a year for them to graduate me from the $200 Secured to regular verison. They had me at a 677 Fico at that time, and since getting the card, but before it graduated, I got the Chase Sapphire prefered for 5k, NFCU for 1.7k and Amex for 1.4k. Also, when it graduated I got a check from them for $200 and they tripled my CL to $600. Be patient with them. The fact that they are a lot of people's first foray into credit or rebuilding is a double edged sword. The fact that they accepted me 18 months ago with 400 FAKO scores and tons of baddies was awesome. Then I managed to get rid of all of the baddies and got some positive reporting going. But I know a lot of people in a similar situation as me have seen Disco be painfully slow with CLI's. The weird thing is that had I strictly started rebuilding with only the Cap1 secured and today tried to get a Discover, I'm sure they'd be all over me with a huge limit. But the fact that people are starting out with them as a secured card sticks with Discover for a while, and they are very cautious. 

[Anonymous]

My Discover card secured pretty much at 7 months (maybe +1 day?) but I was only at 6 statements because I had changed my due date which made me skip an entire month statement.

I did NOT get any credit limit increase on graduation or any time after -- $2500 was my secured limit, $2500 was my graduation limit, and now 3 months later still at $2500 with SP CLI denials like clockwork.  I do still use the card for all my general spend and put sometimes $10,000 through it on busy travel planning months for the 2% cashback match.  I think once I back off using the card they'll probably CLI me lol.

Even if you don't get a CLI at graduation, just wait until your Discover FICO is updated and do a SP CLI request.  I tried my first about a week or so after graduation and 6th statement cut.

[Adkins]

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@Shadowfactor wrote:
My FICO score has improved right around 100 points since I got the card.

Util : always kept it under 9% mainly has sat right around 1-3%

3 collections. Started out with 6 when I first got the card.

Several new accounts.

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We'll both going to have to wait and see what they do! (I think that's great improvement, but it's not up to me!)

[Anonymous]

My TU FICO went up over 150 points from when I got my IT Secured (around 550) to now (701) and no CLI love.  Discover is definitely NOT just FICO based for credit limits -- I know at least 3 folks with secured->graduated IT cards who now have higher limits than I do with way lower FICO8 TU scores according to Discover's free pull monthly.

[Adkins]

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@Anonymous wrote:

My TU FICO went up over 150 points from when I got my IT Secured (around 550) to now (701) and no CLI love.  Discover is definitely NOT just FICO based for credit limits -- I know at least 3 folks with secured->graduated IT cards who now have higher limits than I do with way lower FICO8 TU scores according to Discover's free pull monthly.

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Exactly! 

[Shadowfactor]

Adkins.

When was your 7th statement ?

[Adkins]

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@Shadowfactor wrote:
Adkins.

When was your 7th statement ?

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It actually doesn't cut until tomorrow, I looked this morning. MyFICO score updated already though.