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graduation guidelines?

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Anonymous
Not applicable

graduation guidelines?

Not sure if this or the credit card forum is the correct place for this one?

 

I have a disc and cap1 secured card  200 each.  Does anyone know if there is a set of guide lines on getting these to unsecure?  I have kept util low, made multiple payments in the same month.  anything i can think of so that i am favorable for it.

 

I have read many posts of ppl with no low and high balance, and low and high util. graduating so i am not sure if there is a baseline for moving up that chain to unsecured land?

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: graduation guidelines?

Can't really say for Cap 1 ... I closed my secured card when I got my Platinum. 

 

As for Discover ... I think it's at least seven months of responsible use, and they begin reviewing. I also believe the Discover graduation is firmly tied to your credit scores, more specifically, your TransUnion score. I've had my Discover for 14 months now, and it's still secured, and I believe it's because my TU is low (in the 650 range). But I've also been apping for other cards while I've been waiting, so I don't know if that has an affect either. I was approved for an AMEX Blue Cash Everday card with a $2K limit the other day, but Discover won't unsecure me. LOL

 

My best guess is I'd need to be 670-680 for it to graduate. And I'm now in the garden, so we'll see if that holds true. 

 

 

Message 2 of 9
steelholder
Regular Contributor

Re: graduation guidelines?

pay off entire balance every month keep utl under 5 percent should take around 10 to 12 months.

Does anyone know if a unsecured can graduate to QS?
Message 3 of 9
Anonymous
Not applicable

Re: graduation guidelines?


@steelholder wrote:
pay off entire balance every month keep utl under 5 percent should take around 10 to 12 months.

Does anyone know if a unsecured can graduate to QS?

From what i have read on other posts.  some were able too, but most are just apping the QS and PCing them together to get a higher CL.

Message 4 of 9
steelholder
Regular Contributor

Re: graduation guidelines?

Just found out they do.
Message 5 of 9
Anonymous
Not applicable

Re: graduation guidelines?

My wife just PCed her platinum to QS. She was expecting the QS1, but just typed quicksilver in the chat and they gave her the one without the AF.
Message 6 of 9
Anonymous
Not applicable

Re: graduation guidelines?


@Anonymous wrote:

Not sure if this or the credit card forum is the correct place for this one?

 

I have a disc and cap1 secured card  200 each.  Does anyone know if there is a set of guide lines on getting these to unsecure?  I have kept util low, made multiple payments in the same month.  anything i can think of so that i am favorable for it.

 

I have read many posts of ppl with no low and high balance, and low and high util. graduating so i am not sure if there is a baseline for moving up that chain to unsecured land?


 

You are doing all you can for now. I would make sure I'm pif every month with the secured cards. From what Ive read it can take around 12 months for them to become unsecure. It will depend on your score and several factors known only to cap 1 and discover. What is the rest of your credit history like? Whats current on your report? Do you have an autoloan or other instalment loan? etc..

Message 7 of 9
gdale6
Moderator Emeritus

Re: graduation guidelines?

Am going to move this to CC forum for more input
Message 8 of 9
Anonymous
Not applicable

Re: graduation guidelines?

My discover unsecured at the 7 statement mark. Actually a couple days after I think. I just set up hulu on it and used a couple discover deals and PIF every month. It was my first card. Didn't even have a fico.

DH got the cap1 secured in Oct 2015. From what I've read it seems that cards opened since about January when they changed the program (to allow auto CLIs at 6 months) can unsecure. Everyone else seems to be SOL. At least thats what I've picked up from reading the threads about it.
Message 9 of 9
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