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Discover it secured card graduation tip

Gear1
Valued Member

Discover it secured card graduation tip

After reading many posts about Discover secured cards not graduating for some people I decided to do a test.
Background:
Score in October 2018 roughly mid to high 500s, several accounts opened in my name bye other person or persons, all of these I had removed because of false addresses that I proved were not mine. 1 paid charge off remains. Opened 4 other credit cards since then also.
Scores today tu 677 eq 664 ex 646
7th Statement with Discover cut 17th of May, called customer service the 20th to inquire about graduating, she gives me the canned answer we find everywhere and says I am not eligible so I hang up. Later that night I send a secure message and tell them it has been 7 statements and give them the dates and give them their own script about paying everything on time and responsible usage etc. The last sentence is if I am not going to be graduated then I need to know exactly what I am supposed to do that is different than your qualifications you listed.
The next morning got a message back to call a rep directly, so called rep explained that whole thing again and said I will wait one more month but if my card does not graduate I will close it.
Checked my Experian soft pulls later that day ( the 21st ) Discover popped up, they had pulled to check me out I am assuming.
The 22nd of May log in and go to the cli tab and instead of call to get increase it wants income, housing etc.
10:10 pm 22nd email “Congratulations! Thank you for being a great customer”
My deposit of $2,500.00 is being returned and my credit limit does not change.
I know this was long post but I think good information to try, since everyone I talked to at Discover says they don’t do manual reviews, I think if after you go unnoticed maybe try this out!
Message 1 of 8
7 REPLIES 7
Neverturningback
New Contributor

Re: Discover it secured card graduation tip

Thanks for the advise. My 7th statement is next month. Hopefully it will autmoatically work out. If not, I will give your advise a try!

Starting Score: 450 Experian (Nov. 2018)
Current Score: 623 Experian 655 Transunion 618 Equifax (6/19/19)
Goal Score: 650 For all 3 myfico scores


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Message 2 of 8
720Dreamer
New Contributor

Re: Discover it secured card graduation tip

Congrats, my 7th statement is June 5. I am hoping I have some good luck coming my way. If not will try your suggestion, thanks.
10/12/18: Discharged from BK7
10/15/18: EX 541 | TU 490 | EQ 555
6/7/19: EX 625 | TU 624 | EQ 655

Message 3 of 8
Gear1
Valued Member

Re: Discover it secured card graduation tip

My pleasure.
I have read many times that Discover reps say they do not do manual reviews and it even says so on their faq’s for secured cards, and we know they give you your tu score but they pull ex to approve the card so I am almost positive the rep pulled my ex at some point during or after my phone conversation. I think maybe if you have done everything they have asked of you that maybe a little push back doesn’t hurt.
Message 4 of 8
Morpho
Valued Contributor

Re: Discover it secured card graduation tip

You’re conflating unrelatedly events. If you look in the big DSC thread you will see that you called too soon and you where going to graduate anyway if you did nothing. Threatening to close your account and lecturing CSR who has no power to graduate your account had no impact on your graduation. They soft pulled me about 3 days before graduation and a few days after day I received the notice. I don’t think a week had passed since the 7th statement cut.

 

They did not soft pull you because you called and/or gave list of reasons why you should graduate. They use an algorithm to determine graduation and humans are not envolved. Obviously it’s proprietary but people who don’t graduate have just yet to use the card in the pattern they are looking for.

Message 5 of 8
Gear1
Valued Member

Re: Discover it secured card graduation tip

Was it an unrelated event, maybe. I could have been too early as I have read that it could take up to seven days, was I wrong, possibly. I was not lecturing the csr I was simply asking what the requirements were based on what they give you, I should have no problems, she gave me the same response that I have heard that they give everyone and said she was looking over my information, which is what led me to think maybe they had done the soft pull, again I don’t know that for a fact. I also was not being threatening in any way, I was just telling the csr that if I couldn’t figure out how the graduation works I wasn’t willing to continue on indefinitely and that I would wait until the next month and I would close my account. I was going to close it for that reason.
Will this help someone else, according to you no. I don’t know their algorithm either so I say give it a shot even if you wait a week after the 7th statement, I also want to say I’m not telling anyone to close their account, that was a call I was going to make based off of my own situation.
Message 6 of 8
KJinNC
Valued Contributor

Re: Discover it secured card graduation tip

What is the working theory about the pattern they are looking for?

 

I just got my Discover card this month. Since getting it, I have been running nearly all of my day to day expenses through it, because it's my only card that gives cash back, except for the Amazon store card. I am running into problems with my $500 limit vs how long it takes payments to fully process, so I am planning to increase my limit as soon as they let me (31 days after opening the account, in my case, June 11). I am sometimes "nearly maxing it out" in the sense that I've made a payment, but it isn't reflected yet in my available credit. The balance is fine but available credit has been as low as $20.

 

I've been assuming they'd like me using the card a lot (swipe fees), but would this actually spook them that I might get overextended?


FICO Resilience Index: 66. Cards: 14/24, 0/12, 0/6. Accounts including loans: 17/24, 1/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $104,100, not counting the AU card. The AU card brings the total to $129,100. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 7 of 8
Gear1
Valued Member

Re: Discover it secured card graduation tip

Just my two cents worth!

I used mine every day also sometimes almost to 80% or so and then paying it down before the statement cut , or paying it multiple times, I left a balance I believe three or four months and then right after the statement cut I paid in full.

I do believe I remember reading that one of the Fico members had talked to a CSR and if I remember correctly the CSR Told them they were paying too small of a balance and this person had told them that he paid several times a month, and the CSR told this person I believe that whatever algorithm they use only counts the last payment they see, so I always made the last payment I made the largest. That may have been hearsay but that is the reason I’m on here to try things that people give advice about, and try to help someone out in return if possible!
There are several people on here that could probably chime in that know more than I do, there is also a pretty large thread on here about Discover, I just can’t remember where it is. I was so excited about my graduation I just had to share something about it .
Message 8 of 8
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