Discover It Odds??

[Anonymous]

Hi all, 

It's my first time posting in this forum and I had a question about Discover It approval odds.

First, scores for the 3 CB's are 725 (TU) 725 (EQ) and 641 (EX) 

Was approved yesterday for an AMEX BCE card with a limit of $2,500 and 12.99% APR.

Have a decent credit history with only 1 account charge-off as paid about 3 1/2 years ago (due to a faulty business dealing with my employer not paying a joint Chase card that they spent the $ on and terrible luck getting the cb's to dispute). Utilization is currently at 0%. Credit mix is low with only 1 revolving credit account and 1 bank issued cc with a limit of $1000 and AAoA is 4yrs 6mos

I want a Discover It to maximize cash back benefits, but I'm worried about their hit/miss approval odds. 

I know it's hard to give a definitive answer yes/no, but do you think my odds are decent? Any ideas about the amount of credit i'd start out with? 

Thanks!

[CreditCuriosity]

Scores are fine.. The CO of 3.5 years might hurt you.

Flip a coin as no one knows how discover will react or how discover works overall for that matter they are probably the hardest lender to figure out .. I would say 50/50 chance due to the fairly recent CO.  Should only be one HP if you want to give it a go.   The thing you have going for you is only 1 other CC and a decent AAoA.. Disocver likes to be your goto card and they love people with not alot of credit when you get in with them.. So maybe 75% chance of approval now that I rethink and see your profile and lack of overall credit.

edit: didn't see the Exp score.. That is low.. Most likely they are going to pull EQ though.

[austinguy907]

Hmmm....

I'm wondinering if your scores are CK or FICO.  There shouldn't be that big of a difference with EX compared to the others.

Anyway... AMEX and Disco are about the same for approvals with the exception that Disco usually approves at a lower limit due to being more on the conservative side.

I would say depending on the CB they pull for your region you should be able to get approved and if you get lucky and they don't pull your EX you might get in somewhere around $5K if everything shakes out when they review your complete file.  It's probably more helpful though if you run through the pre-qual and see if you have a fixed APR, 3% range, or the 10-23% range.  Also, scorecard might offer some insight as well with EX.  

$75 back from Amazon if you apply through them... https://www.amazon.com/Discover-it-with-Cashback-Match/dp/B00AW3IXZO

[Anonymous]

I think you have a shot.. only things I see are CO and the difference in scores between EX and other CBs..

Discover do want to do business with new-to-credit profiles although SL might be small.. give it a try and let us know how it goes.. All the best

[Anonymous]

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@Anonymous wrote:

Hi all, 

It's my first time posting in this forum and I had a question about Discover It approval odds.

First, scores for the 3 CB's are 725 (TU) 725 (EQ) and 641 (EX) 

Was approved yesterday for an AMEX BCE card with a limit of $2,500 and 12.99% APR.

Have a decent credit history with only 1 account charge-off as paid about 3 1/2 years ago (due to a faulty business dealing with my employer not paying a joint Chase card that they spent the $ on and terrible luck getting the cb's to dispute). Utilization is currently at 0%. Credit mix is low with only 1 revolving credit account and 1 bank issued cc with a limit of $1000 and AAoA is 4yrs 6mos

I want a Discover It to maximize cash back benefits, but I'm worried about their hit/miss approval odds. 

I know it's hard to give a definitive answer yes/no, but do you think my odds are decent? Any ideas about the amount of credit i'd start out with? 

Thanks!

---

Welcome to MyFico forums.  I can't say whether you would be approved and what you would be approved for. However, I can share my data points as a point of reference. 

@I was discharged from BK7 in July 2014. I had one card (a month old) at the time I applied for Discover-- Cap1 QS @ $3K. Also, I had student loans, no lates and been paid down from $50K to abou $14K.. AAOA was about 9.2 years. Oldest account was about 25 years. Discover pulled EQ for me which was Fico 8 705. I received a CL of $5K instant approval, lowest APR offered. 

Also, the scores you are listing? Are they Fico 8 scores? If so, you seem to be in a  better position than me when I was first approved.

[Anonymous]

Welcome to the forums! I hope you stick around, I'm a recently joined member and have found this forum's insights invaluable in my credit journey.

With that said, I think your scores and profile fit Discover pretty well (other than that EX outlier). Discover was my first card and I was instantly approved for a $1K starting limit. As others have said, I think Discover likes getting in with people that are new to credit.

[Blackswizz750]

I am a rebuilder and Discover like thin files and they pulled EQ for me. I hit the prequal and made that. YOu should be OK but disco can be sensitive.

[Anonymous]

Thanks for all the great advice, guys! I really appreciate your help )

Just to clarify, all of the scores are FICO 8 scores. My bank provides free credit reporting for TU and EQ and for EX I'm using a free trial from their website to view the score.

I'm pretty optimistic about my application odds, however I'm also a bit hesitant to be denied and have the HP show up with nothing to show for it. I'm wondering if I should focus my efforts on Citi's Double Cash?? I filled out the pre-qual info and they gave me an offer, which is what AMEX did before I applied with them and I ended up getting approved.

Wheras with Discover, I submitted pre-qual and they only gave me a range of scores instead of a specific offer. 

Any other thoughts on this?? 

Also, apparently the Amazon offer of $75 credit with Discover is a sham? There are a lot of people saying they didn't receive the Amazon credit because Disco didn't think they met certain "terms" when they applied??

[austinguy907]

Listen, nothing in credit is guaranteed!!!!  For the thread title has ODDS in it!!!  $75 from Amazon would just be a perk..... nothing is a given and most don't even check amazon card finder for the offer anyway.  There's always a chance you won't get approved with any card no matter who it's from!  In the end you have to go with your gut and if it says Disco then apply!  if it says DC instead then apply!  We can't make the decision for you.

[taneronx]

I think you'll get it to be honest. I went through a rough patch with late payments and 1 chargoff for capital one. When i started my rebuild, that was the first card I got