Discover it secured card ? Do you think I would be approved? thanks in advance

[Anonymous]

Joe it becomes a GAME because computer programs/aps/algorithms etc

Like security systems are going to be challenged by MAN

So the system itself was created for the purpose of guessimating risk, legitimately the "problem" is just like a computer hacker

Credit nerds like myself and others, sit around and tinker with ways to make the ish a game...to actually MANIPULATE the system, truth be told.

In all honesty, FICO or the banking system isn't going to explain things in the fashion that I did because honestly if you prep and play like a Chess player in their Checker game...that is NOT what they want...they would prefer just a natural flow and let things happen as they do

But once a hacker knows about the 'cheat' codes c'mon he/she knows they can manipulate the game at anytime....

Say one now understands hey if I have a high balance on a card or multiple balances my score will be suppressed but only till I bring it down... That knowledge allows that person NOT to have undue stress in their life over something they know for sure is temporary AND they now also now isn't the time to get the car loan or refi the mortgage because the rate is likely to be higher until the score is manipulated back up after working a few more months on this debt

Even though, they'd likely be approved at that moment they now know how to manage the WHEN....which saves financial stress which frankly saves marriages, relationships and lives truth be told

#1 cause of divorce FINANCIAL ish
It may sound lame but slippery slopes many times begin in places ppl don't see

Pay too much for the car, the insurance, the house,the CCs due to slightly not getting this B.S. = short of money when it didn't have to be so, if one wasn't over paying for crap....next thing you know she's ticked off and the toilet seat was the LAST straw
He's pissed cause she can't even squeeze the toothpaste thing right....None of this B.S. would be THAT big a deal if the light bill was paid and collectors weren't calling 😨

[Anonymous]

I forgot to add for the OP or anyone else with regard to the Co-signer issue

In addition to the credit hiccup risk, the co-signer also could stunt their ability to secure approvals for themselves or wind up with less attractive rates/terms than otherwise because of the implied additional financial obligation that clearly shows on THEIR credit report as an obligated TL....

The DTI ratio is inflated because a decent UW is taught to consider the DTI as if the applicant had to pay X car loan + Y car loan + whatever New item the applicant might be requesting now.... this is why many times you'll see the H & the W cross signing so that the UW can bring in that other income to soften having the other obligation listed on the report

Again perhaps not a big deal IF Momma isn't going to use credit or app or attempt to take advantage of ANYTHING credit wise the entire loan term, just know she's may be hemmed up....

This is of note for some and not a big deal for others but it's fair to consider... especially when brother has Momma's credit hostage, when Sissy and her husband wanted to use it to refi THEIR mortgage 😊

[Anonymous]

I got declined for Discover secured in January but got approved for Bank of America 99/500 cash rewards and Capital One Platinum and Lend Up L card the same day.  Really by the time you would qualify for a Discover Secured card you wouldn't want one,  And when you get to the point where you qualify for their Regular card you wouldn't want them either.