Discover Secured Deposit Amount

[800goal800]

What is an ideal amount to deposit if I plan on keeping a zero balance ?  In the drop down on the approval it says I can choose up to 2500

[Anonymous]

As far as I've seen the amount doesnt matter for rebuilding purposes but if you go minimum when its unsecured you'll have a low limit card still. So, my plan (if i even get a secured card), which may not be your decision, is to do as high as I can so that when it graduates they'll give me a higher limit (ego purposes lol)

[Anonymous]

Go with what you can afford having tied up for an indefinite amount of time.
You can always make multiple payments throughout the month so that you benefit from the cashback rewards, etc

[800goal800]

Is there an assumed correlation between secured limit and unsecured when possible?

[Anonymous]

No. Your secured amount doesn't seem to weigh on how much they unsecure you for.
What they look at more is responsible use and overall credit.

[Anonymous]

I got my Discover secured card last September and started out with a limit of $200. I eventually rose it all the way up to $2,000 before it unsecured earlier this year. Honestly wish I put in the entire limit of $2,500 because I've been struggling to get a CLI from Discover.

[Anonymous]

From what I've seen... if you deposit 250 then its unsecured it may increase a little but not to 2500+. If you secure with 2500 then it'll unsecure at 2500+.

[chiefone4u]

Everyone has different experiences and opinions... I secured mine with the minimum $200. For 7 months I put $69.95 on the card (myfico monthly fee and a pre paid cellphone). With the exception of 2 Bill's I paid in full before statement cut.

After the 7th statement they refunded the $200, unsecured the card and increased my limit to $1,000.

I'm sure spending habits, and payment have more to do with it than how much you deposit.

Other posts indicate Discover likes you to slide the card frequently and to pay in full often YMMV

[bondsandloan]

Put in how much you can afford. But yes higher the secured limit, greater the chance it secures at a higher limit.
I put in a $800 deposit & mine unsecured for $2,500.

[FireMedic1]

This kinda falls under what, when, and how will Disco give anyone a SP CLI. No one knows the formula and maybe never will. No one has the same outcome. But I agree it would be better to put as much as possible. First you'd have a pretty good CL. Secondly. When you go for another card after building your profile. The new creditor will give (possibly) a higher SL seeing you handled the $2500 and was responsible with that amount. Good Luck!