Discover Secured numerous sp's?

[rprisco]

I have the secured discover, I noticed that they are pulling sp from experian like every other day, is this normal? I got the card April 17th, so not due to be graduating yet (BTW I signed up under 7 mo graduation now it's 8 mo's). For what it's worth i also have the scorecard, nor sure I'd that is source of sp's? inquires show as discover financial.

Any thoughts?

[Anonymous]

Hello and welcome to the forums!

What tool are you using to see your soft pulls.  Is it annualCreditReport.com?

I'll be curious to hear what others say.  In lieu of that, I wouldn't worry about it.  You have a lot of reasons Discover would be wanting to check your credit frequently.  As you point out, you have signed up for the Discover scorecard.  And Discover is preparing to make a decision in a few months about whether they want to graduate you to an unsecured card -- they'd want frequent snapshots of your profile to help with that decision..  And finally, your credit profile in general suggests extremely high risk, including multiple new credit cards opened recently, so even if the previous things weren't true they still might be wanting to view your reports a lot.

[rprisco]

I found soft pulls on Experian, received a printout from recent dispute.

I suspect they r watching me close. I am in the garden until next year for sure. I just wanted to build a huge profIle for ageing. My last baddie will fall off April 2019, so planning ahead for that grand moment.

[Anonymous]

Best of luck!

PS.  You may want to to take a shot at editing your signature.  For one thing, it is so long that a chunk of what you have written gets cut off.  The other reason is that a big long wall of text like that is something almost nobody will read.  It's too hard on the eyes.

You might want to create a "long" version, where you put in lots of spaces and stuff to make it look really easy to read.  This long version you can save as a text file, and anytime someone wants all the details you can just paste it into a post on whatever discussion thread you are in.

Then keep your signature a lot shorter.  Maybe like:

Current FICO 8 Scores:     EQ 695, EX 673, TU 645

Started rebuild in 03/2017:   all scores below 585

34 total accounts, 14 open

___ open credit cards, ___ open installment loans.

Last baddie will fall off April 2019

That's just a thought, do whatever you think is best. 

Also I noticed that one of your current credit cards is listed as having a date opened of next year (the HRCCU visa).

[rprisco]

Thanx for the advice, that's what I get for using the phone. I will update first chance I get. The HRCCU was opened Aug 2015, started as 300 secured, January 2017 unsecured and cli increased to 500 and in March 2017 went to 3k. So I need to edit and follow suggestions. Thanks again.

[joltdude]

Do you really need the Credit One and can you upgrade the Cap One Plat to a QS yet?

My Opinion on Credit None (Credit One)

You have enough padding and you really dont neet to be paying a fee to keep this open (either annual or monthly)... Becase you have no reason to actually use the card with your other options....Youve used it, and now its time to let go.... you dont owe them anything (and hope you never keep a balance on it)

Also by getting rid of the Credit One it would look a little better if your CR is manually reviewed... UWs realize that its a subprime card.. computers usually dont...

I dont think its really bringing much to the party and it will likely stay reporting for up to 10 years...

Even if they pull a fast one and pull it sooner.. you have enough cards to level out your AAoA... Youve moved on.. and this card is just an albatross on your neck...

-J

[joltdude]

And on the subject of Discover and SPs... some of those are definitely due to both Discover grabbing a score for your account on one CRA, and credit scorecard also pulling a score from a different CRA... plus they are monitoring it because its a secured card and at some point they might want it to graduate and/or take action ......They are keeping tabs on your account for some reason.. they are SP.. i wouldnt worry about it...

-J

[rprisco]

Joltdude thanks for the info, as for credit none, lol, the card is on my chopping block. On the 23rd of this month, it will be 1 full year old. I hate this card with a passion. I have a ch. 7 bk due to fall off my experian and equifax in December. TU took it off early and my score tanked for 3 months following. I thought I'd maintain the status quo until January to see how scores hold up (experian, like TU has other baddies not falling off till April 2019, eq clean other than bk). My credit union when they gave the personal loan commented that credit one is horrible, so ur right on manual review, it stands out like a huge red pimple on the nose. I'm sure eq will be fine with losing that card and bk, experian scares the crap out of me. That card is the 2nd oldest open tl. Without that my average will sink like the titanic with 13 new accounts since March this year.

The af is 8.25 per month, due to start with October statement, I'm not using the card and paid ahead to have a statement credit that should last tIll January and if they don't close me for over paying (like If heard is done by them out of spite), then January will be when I'll close the account.

[rprisco]

As for disco, I think ur right.

[Anonymous]

They soft pulked me comstantly and at 7 months they unsecured my card, they are still soft pulling me just not as much, I think they are just keeping tabs on me and seeing if I am worthy of a cli. I wouldn't worry about it, take it as a good sign. Dv