Did Discover Secured change?

[Anonymous]

Ive been looking into this secured card as part of my rebuild. On these forums I've read a lot about hitting the 7 month mark and being reviewed for graduation to unsecured. But Discovers new fine print now says at the 8 month mark they will review.

Has anyone else heard of this?

[Anonymous]

Its is still under the 7 month mark. I was just unsecured last month ( at my 7 month mark ) and didnt know until i called the executive office because i was reading alot of people saying theyve had the card for longer than the 7 month period with no graduation, however they will recheck your account everymonth ( this is automated this isnt done manually unless you call the exec office and have them look into it ) so sometimes it takes 7 months sometimes it can take a year. Whenever you cross that line of no longer being a credit threat / risk to them theyll graduate you. I opened the card with a 1500 secured deposit and they granted me a 4500 CL. I took it and ran haha. 

[Anonymous]

I've had my secured Discover card with a $200 limit for 12 statements now and I have had no luck with it unsecuring. I have been extra patient, but my extra patientcy is wearing thin! Good luck to you though, hopefully it unsecures soon for you. 

[Anonymous]

So I've had my cars with 100% on time payments for over 2 years now. Been slowly raising my own limit it hopes it would go unsecured. No success yet. They did tell me though they review it each month after that 7-8 month period. Not sure what requirements are needed but they said once you can be unsecured they will send you an email notification or letter in the mail depending on your delivery preferences.

[Anonymous]

Okay i just wanted to double check. Thanks everyone.

[Miner]

The problem with most data points for being unsecured is we rarely get anything other than raw scores. Anyone with less than stellar credit will quickly learn that scores aren't all there is to getting approvals with different lenders looking at different things.

It would be nice if we also got all negatives still showing, AAoA, number of recently opened accounts, etc. It would make it easier to assess where we fit compared to other success stories. I'm coming up soon on the 7th statement and while I think my chances are good, there is no way of really knowing.

[Anonymous]

My card graduated last Thursday at 7 months + 2 days. (634 TU, 621 EX). 4 charge offs reporting, 1 unpaid, 8 total collection accounts 3 collections from PRA unpaid the rest are paid medical, AAoA 10 Years, and 6 inquiries with 3 falling off within a month. Hope this helps!! Oh and there was a $270 balance on last statement

[Anonymous]

My 7th statement cut last week and no such luck graduating. Also had a new collection report with Portfolio Recovery the week before so...it's not looking great for me. But hey if you can graduate with 8 collections then maybe there is hope for me yet! Ha.

[Anonymous]

I was approved for the Disover IT secured card end of August last year, $200 CL with deposit.  No missed payments, multiple payments a month, and I still haven't graduated.  I've called and gotten the same old monthly review song and dance.  Haven't used the card in a few weeks to see if that will ruffle their feathers a bit.  I think I'm just going to stop using it for a while, I'm pretty frustrated with them.  Around the same time I got approved for the Capital One platinum (Unsecured) with a $300 limit which has since increased to $750 and I was able to switch it over to the Quicksilver for cash rewards.  Capital One is treating me pretty well.  Does anyone know when I can apply for another Capital One CL?  Increase was from $300 to $750 and it happened on my 6th statement a couple weeks ago.

[outofcredit]

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@Anonymous wrote:

I was approved for the Disover IT secured card end of August last year, $200 CL with deposit.  No missed payments, multiple payments a month, and I still haven't graduated.  I've called and gotten the same old monthly review song and dance.  Haven't used the card in a few weeks to see if that will ruffle their feathers a bit.  I think I'm just going to stop using it for a while, I'm pretty frustrated with them.  Around the same time I got approved for the Capital One platinum (Unsecured) with a $300 limit which has since increased to $750 and I was able to switch it over to the Quicksilver for cash rewards.  Capital One is treating me pretty well.  Does anyone know when I can apply for another Capital One CL?  Increase was from $300 to $750 and it happened on my 6th statement a couple weeks ago.

Credit limit increases with Capital One are every six months.  I believe getting approved for an additional card has the six month limit as well and is contingent on how many Capital One cards you already have.