I applied and got the card around March 2015 with the FICO score discover gave me of 581 (medical collections, this is my first CC, student loan debt) with a $300 deposit. They say after a year you can get it upgraded to unsecured, but Feburary 2016 (a month early) I recieved a letter saying that my CC behavior was so responsible they were upgrading me from secured to unsecured and mailing me my deposit back. I had the deposit back within a week. I sometimes had higher CL utilization, but I NEVER had a late payment or incurred fees/interest. I waited till my statement was up and then paid it every time. I never carried a balance. I applied for a CL increase after getting the deposit back and was denied, but I hope after a few months of being unsecured and using it responsibly it will be upped. At the highest, this card helped me get up to a FICO 649 (68 point increase), but then I financed a car and furniture that bumped it down to 640 in June and its currently 644. Since this became unsecured I was just approved for the unsecured C1 Platinum. Pretty good for a 24 year old graduate student who had no credit and only medical collections on her account a little more than a year ago!
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I have had this card for approximately a year and a half now. I have always paid early let alone on time, at least made well more than the minimum payment if not paid off the entire balance, and I am still waiting for them to approve me for an unsecured card. They state my credit score hasn't risen enough yet and apparently the relationship I've had with them for the last year and a half means nothing in the decision process. This is a good card just to have a credit card, but is not even accepted everywhere. I also had a CapitalOne secured card and have already received my deposit back, been approved for an additional unsecured card through them with cash back, and as a Mastercard it is accepted far more places. I was hoping to keep this card as an unsecured card so that I would have 2 different forms of payment (Mastercard and Discover), but I am on the verge of just closing this account to get my deposit back and just using my 2 CapitalOne Mastercards from now on. The only pro Discover has going is that their customer service is far more friendly, helpful, and knowledgeable. I hope this clarifies Discover's somewhat misleading selling point for some people.
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