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Rejected for Secured Card from Discover??!!

New Contributor

Rejected for Secured Card from Discover??!!

I'm newly discharged from Ch13 and was applying for a secured card from Discover.  Being a secured card, I figured there would be no problem but instead I got the standard message "We'll get back wtih you in 5-7 days with our decision".  Has anyone ever been rejected by Discover secured card before?  Should I call them?



FICO8
April 2017 - Experian 601, Equifax 659, Transunion 568
May 1, 2017 - Experian 601, Equifax 659, Transunion 588
June 1, 2017 Experian 638, Equifax 661, Transunion 582
November 1, 2017 Experian 664, Equifax 667, Transunion 666
BK 13 discharged 4/4/17
Cards - Cap One QS1 $3k, Cap One Venture $2k, Discover IT Secured $200, PenFed Promise $1500, BOA Secured $300, NFCU nRewards $2k, Wayfair $3500, Pottery Barn $750, Home Depot $500, Amex BCE $500, Lowe's $1000, Amazon Prime Store $1600, Old Navy $1900
Message 1 of 7
6 REPLIES
Established Contributor

Re: Rejected for Secured Card from Discover??!!

What are your FICO scores, first off? While I don't know what the usual recommended waiting period is before applying for a Discover secured, I remember that I gave it a year or so after being discharged from my own Chapter 7 before applying for a Cap 1 secured (and was approved immediately). It's possible you app'ed too soon, if you wait a while and try again you might have better luck then.

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 12/1/17:TU 663/EX 697/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 12/1/17: TU 699/EX 687/EQ 693. $33.2K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa, $3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $4000 Care Credit, $4300 Overstock Store Card, $4500 Discover It, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Message 2 of 7
New Contributor

Re: Rejected for Secured Card from Discover??!!

That was one of the first cards I app'd for after discharge and I was denied as well as cap one and citi secured cards.  FICOs were mid 500s at the time.

CH7 BK Discharged Aug 2016May 2017 ScoresEQ08 615TU08 604EX08 612
Message 3 of 7
Community Leader
Valued Contributor

Re: Rejected for Secured Card from Discover??!!


LilHobbit wrote:

I'm newly discharged from Ch13 and was applying for a secured card from Discover.  Being a secured card, I figured there would be no problem but instead I got the standard message "We'll get back wtih you in 5-7 days with our decision".  Has anyone ever been rejected by Discover secured card before?  Should I call them?


 

Well, first of all that message is not a definite rejection, it means they couldn't make a instant decision. Call their recon dept - 888-676-3695 (from the Backdoor Numbers sticky threa in the CC Applications) - and start off with saying "I'm calling to see if I can provide you with any additional information to help you make a decision".

 

Secondy, Discover can be all over the place with their decisions. After reading here that they approve some folks within a few years after BK7 discharge (as long as they were not included in the BK) I app'd at 4 years post DC, instant rejection. Then around 4 months later they started mailing me weekly pre-approval offers. After the 3rd one I decided maybe they were serious and app'd again, instant approval w/$4k SL, no HP.

 

Finally, from my own experience I recommend the Bank of America secured card as one of the better secured card. I had included 1 BoA CC in my 2010 BK7, so at 4 1/2 years post DC I app'd for their secured card as I wanted back in with them. Instant approval, and I just made the minimum $300 deposit. I got it unsecured at 7 months. With a $300 CL & no rewards it was my least used card, I just used it for Netflix & few other small charged and let it age. I got an auto CLI to $1800, so Icalled in to see if I got get rewards added and was told I qualified to have it PC'd to a Cash Rewards Platinum card w/no HP. With 3% rewards on gas & 2% on groceries its one of my better reward card and now my most used card.


Fico 08: 720/721/719 TU/EX/EQ
Message 4 of 7
New Contributor

Re: Rejected for Secured Card from Discover??!!

It turns out it was an issue with their website.  It didn't complete the application online for some reason.  I called and they finished processing it - I was approved!  I put down the minimum of $200 for now and will probably increase it later.  

 

Not sure what all my scores are yet - I'm just now getting started with the whole process.  I know my Vantage Scores - TransUnion is 671 and Equifax is 686.  My FICO for Transunion is somewhere around 608.  



FICO8
April 2017 - Experian 601, Equifax 659, Transunion 568
May 1, 2017 - Experian 601, Equifax 659, Transunion 588
June 1, 2017 Experian 638, Equifax 661, Transunion 582
November 1, 2017 Experian 664, Equifax 667, Transunion 666
BK 13 discharged 4/4/17
Cards - Cap One QS1 $3k, Cap One Venture $2k, Discover IT Secured $200, PenFed Promise $1500, BOA Secured $300, NFCU nRewards $2k, Wayfair $3500, Pottery Barn $750, Home Depot $500, Amex BCE $500, Lowe's $1000, Amazon Prime Store $1600, Old Navy $1900
Message 5 of 7
New Contributor

Re: Rejected for Secured Card from Discover??!!

Turns out it was a website issue!  I called and was approved!

 

FICO8 - Experian is 601, Equifax is 659 and Transunion is 568.



FICO8
April 2017 - Experian 601, Equifax 659, Transunion 568
May 1, 2017 - Experian 601, Equifax 659, Transunion 588
June 1, 2017 Experian 638, Equifax 661, Transunion 582
November 1, 2017 Experian 664, Equifax 667, Transunion 666
BK 13 discharged 4/4/17
Cards - Cap One QS1 $3k, Cap One Venture $2k, Discover IT Secured $200, PenFed Promise $1500, BOA Secured $300, NFCU nRewards $2k, Wayfair $3500, Pottery Barn $750, Home Depot $500, Amex BCE $500, Lowe's $1000, Amazon Prime Store $1600, Old Navy $1900
Message 6 of 7
Highlighted
Established Contributor

Re: Rejected for Secured Card from Discover??!!

Congratulations! And that's a valuable lesson for us all: sometimes it really just is a technical glitch that keeps one from being approved.

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 12/1/17:TU 663/EX 697/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 12/1/17: TU 699/EX 687/EQ 693. $33.2K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa, $3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $4000 Care Credit, $4300 Overstock Store Card, $4500 Discover It, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Message 7 of 7