Will my score go up from transitioning to unsecured Discover It?

[Anonymous]

I received my 7th statement from Discover a few days ago and just found out this morning that I now have an unsecured card and that they raised my credit limit from $200 to $1800. I'm too impatient to wait a month to see -- is this likely to help my score at all? From what I know right now I have FICO 8 756 Experian, 740 TU, not sure about Equifax (is there somewhere free to get this one?). My Discover FICO scorecard says that after my first month I had 677 TU. I've consistently used about 4% of my credit per month except for one month when I used 30% and my score dropped 25 points. Learned from that mistake!

I'm a college student with no credit history other than this card, and I know that age of accounts and number of accounts also contributes. Is there anything else I can do to help my score? I realize it doesn't really matter too much since I'm not currently looking to apply for any loans, but I might go to grad school and am hoping I could take out a loan for that. 

[SouthJamaica]

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@Anonymous wrote:

I received my 7th statement from Discover a few days ago and just found out this morning that I now have an unsecured card and that they raised my credit limit from $200 to $1800. I'm too impatient to wait a month to see -- is this likely to help my score at all? From what I know right now I have FICO 8 756 Experian, 740 TU, not sure about Equifax (is there somewhere free to get this one?). My Discover FICO scorecard says that after my first month I had 677 TU. I've consistently used about 4% of my credit per month except for one month when I used 30% and my score dropped 25 points. Learned from that mistake!

I'm a college student with no credit history other than this card, and I know that age of accounts and number of accounts also contributes. Is there anything else I can do to help my score? I realize it doesn't really matter too much since I'm not currently looking to apply for any loans, but I might go to grad school and am hoping I could take out a loan for that. 

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I don't think there will be any direct score improvement from it, since you've kept your utilization low already.

But congratulations! You're on the right track!

[Anonymous]

Whether a card is secured or unsecured has no impact on FICO scoring, so the conversion here would not change your score.  If a CLI results in your utilization crossing a threshold point, your score could change due to that... but the change is due to the utilization percentage change, not the actual CLI and having more additional credit.

[DIYcredit]

I totally agree with BBS/SJ  you two nipped it in the but.I nothing too add.