Noticed a new link on my Discover homepage today that is titled "How to transition to an unsecured card." Found it near the bottom of the page were link for SSN monitoring is located. The link basically provides vague guidelines on the criteria Discover considers important in evaluating whether to unsecure a card. Delinquencies appear to be weighted heavily. I would assume this includes current and old charged off accounts as well. Just my humble opinion of course. I recently responded to a Discover survey basically complaining about the Discover's lack of information on what is needed to unsecure a card, citing that at least Citibank clearly states that 18 months of good history is needed to unsecure. Don't know if this new link had anything to do with my comments or others expressing frustration with Discover's vague guidelines but at least it's a start.
@Anonymous wrote:I've never had a secured card, so I don't know much about them. From reading on here, though, my understanding was always that if you took on a Discover secured card and exhibited perfect credit behavior for 6 months that you'd be able to unsecure it. I never knew it to take 12-18 months for any reason, unless that person didn't exhibit perfect credit behavior.
I've had a secured card for 13 months with a perfect record during that time. Hasn't graduated yet. I do still have a couple of old unpaid COs from 2013 on my reports, though.
