When will the Discover it Secured Credit Card graduate to unsecured credit card?

A secured credit card is a great way to build or rebuild your credit. And with the Discover it® Secured Credit Card, you may even have the opportunity to graduate with an unsecu

red card.

In this blog post, we’ll explain how,Discover it Secured Credit Card graduate works, what you need to do to improve your chances of graduation and highlight the benefits of an unsecured card.


How the Discover it® Secured Credit Card Works

The Discover it® Secured Credit Card requires a security deposit, which is equal to your credit limit. Your credit limit may be anywhere from $200 to $2,500, depending on how much you’re able to deposit.

Once you’ve made your deposit, you can use your card like any other credit card. You’ll be responsible for making monthly payments on time and keeping your balance low relative to your credit limit.


The Discover it® Secured Credit Card can help you transition from a secured to an unsecured credit card.

Discover It Secured Credit Card

The Discover it® Secured Credit Card can help you transition to an unsecured card if your credit is reviewed and found to be good.

When it comes to building credit, a secured credit card can be a great option. However, the ultimate goal is usually to transition from a secured card to an unsecured card.

The Discover it® Secured Credit Card can help make this transition easier. Every 7th billing cycle, they will review your account and overall credit and may upgrade you to an unsecured card.

If not, they will continue to review your account every month until you are upgraded or you cancel the card altogether. And if that happens, you will receive all of your deposit back within 2 billing cycles.

So if you’re looking for a way to build and improve your credit, this secure card could be a perfect choice.

>>Read More: How To Get Pre-Approved For A Discover It Secured Credit 

What You Need to Do to Improve Your Chances of Graduation

To improve your chances of being upgraded to an unsecured card, there are a few things you can do:

Make all of your payments on time.

One of the most important things you can do to graduate from your Discover it Secured Credit Card to an unsecured credit card is to make all of your payments on time.

Payment history is one of the most important factors that lenders consider when making credit decisions, so it’s important to show that you can be trusted to make your payments on time.

Keep your credit utilization low.

Another important factor that lenders consider when making credit decisions is credit utilization, which is the amount of credit you’re using relative to the amount of credit you have available.

Lenders prefer to see low levels of credit utilization, so it’s important to keep your balances low and avoid maxing out your credit cards.

Build a positive payment history.

In addition to making all of your payments on time, you should also try to build a positive payment history by making more than the minimum payment each month.

This will show lenders that you’re serious about paying off your debts and that you’re capable of managing a larger monthly payment.

Use a mix of different types of credit.

Lenders also like to see a mix of different types of credit, such as revolving credit (credit cards) and installment loans (personal loans, auto loans, etc.).

This shows that you can manage different types of debt responsibly and that you’re not over-reliant on any one type of credit.

Keep old accounts open.

If you have old accounts that are in good standing, it’s generally best to keep them open rather than closing them. This is because closing an account will lower the amount of total credit you have available, which can increase your credit utilization and negatively impact your credit score.

>>Read More: What Is Discover It Secured Card Interest Rate?

Conclusion:

A secured credit card is a great way build or rebuilds your credit—and with the Discover it® Secured Credit Card, there’s even the potential to graduate to an unsecured card after eight months of responsible credit behavior.

So if you’re looking for a path from a secured card to an unsecured card, the Discover it® Secured Credit Card may be worth considering.

Do you currently have a secured credit card? Are you hoping to graduate with an unsecured card? Let us know in the comments below.

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