I tried for both Discover and AMEX...

[ALLgoodABQ]

So i've been debating whether to apply for the Discover IT and the AMEX Blue Cash. Did some searching and people had posted that Discover pulls from TU which is my highest score of 662, and AMEX pulls from EX which is 646.

Went to Discover and applied, but once I submitted the app, the site was down? So decided to go for the AMEX and was APPROVED!!! They didn't give me the special finance offers though, but got a $500 CL with an email that told me if I post a balance and pay on time for 5 statements, I "could" get a CLI.

So next morning, went ahead and tried Discover again, and was denied due to serous delinquencies, revolving credit too high, and too many inquiries. Serious Delinquencies are my 7 student loans that all reported 90 days last 2 years ago, my utilization is at 48% which is a bit high, and i've got 12 inquires. So i'll try again in a few months once I drop the utilization down, which is high from Christmas.

Funny thing was Discover pulled EX and EQ initially, and then TU later? I got credit alerts for all 3. The AMEX only pulled from EX.

I was kinda hoping for both, and was actually expecting the opposite, an approval from Discover but denial from AMEX. Honestly, when I first started rebuilding around Sept, 2015 I thought it was going to take me years to have an AMEX! It was a great feeling to see an approval from them! Yeah its only $500, but its a start!

And now, its going to be gardening for a while now...

[Anonymous]

Congrats on the AMEX!  Its a place to start a relationship with them.

[Anonymous]

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@ALLgoodABQ wrote:

So i'll try again in a few months once I drop the utilization down...

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Honestly I don't recommend apping for anything unless you absolutely need it until your scores are 700+.  Can you get an approval with sub-700 scores?  Sure, but you also have a significantly higher chance for denials as you just experienced one.  Every time you app, you take a step backwards with respect to building your credit profile.  You just got in with Amex, congrats with that.  If I were you I'd focus on that card for a while and don't think about Discover again until you see your scores at or above 700.

[Anonymous]

Or throw $200 on a Discover secured and you could graduate in 7 mo.
Same card as chrome-same benefits/rewards.
Good way to get in with them. A lot of ppl on here have.

Congrats on the Amex

[AverageJoesCredit]

Congrats on getting Amex, it may be low but you can build on it. Discover needing 3 pulls, yikes. I find it ridiculous that if they cant approve you using 2 reports, 3 is just un called for but thats just me. Ive had the double pull and still didnt get in even with a 700 ex so just goes to show they are hit and miss for many. Best advice is to just keep working on your profile and youll get there. Best of luck

[marcforza1]

Congrats on the AMEX card! I've been looking at the Everyday and Plenti cards but didn't know how much of a chance I would have at getting one. Read about people with similar scores but with more HP and delinquent accounts that would get approved. Even if my limit was only $500 with one of those cards, that approval would be good enough for me.

[Anonymous]

I agree with BBS and with Djgro

A) a few months... Isn't enough AGING to warrant going back in to the APP game
I sorta cringed as I read your post when you gave your scores, then mentioned 48% debt load and a bunch of HP's
You're just shooting yourself in the foot by not allowing your accounts to 1) GROW UP and 2) MATURE

It's hard not to want it NOW and to THINK that a couple of MONTHS, is enough 'maturity' but just like an 18 y.o. kid is technically an adult...But c'mon now, that ain't grown, grown 😉

2) Point being you take too many chances for denial, if you don't let some grass grow under the feet of what you have now in addition to apping with high debt ratios and many current HPs (especially with a weakly scored young profile to begin with...This changes with a truly mature profile)

Just trying to help you NOT get pie in the face to your future request and IMO almost worst is getting APPROVED but in the 'special- needs' area of low credit lines with B.S. terms....Where had that se person WAITED maybe 6-8 months and applied with better stats they would have come in through the front door vs being regulated to the service entrance begging UP from $500 CLs and B.S.% rates

IMO when you already have multiple cards, multiple HPs unless you WANT to guarantee yourself 2nd class choices you can NOT subject yourself to pies in the face by apping with high debt loads and mid-600 scores w/o understanding that you are ASKING for trouble....
Why kick a bee's nest?

If a person NEEDS a car or as an emergency need for a medical procedure or whatever...OK you might be FORCED to run an app but to volunteer to weaken the profile you are trying to build?

It's like...Stop opening the oven until the cake is READY or you're going to 'make' it flat😃
Please allow for it to RISE and WATCH it through to glass of the open door but don't OPEN the door!

I hope, this helps😉
Keep your ratios down
Allow this HPs to age out of importance &
Some maturing of the accounts you have

Before even thinking of applying for more unsecured credit... and to be clear, that means AT LEAST..Next football season in your case, as it stands now.

You gotta at least allow your file to chill out 8-9 months before it could reasonably be considered a non risky profile, which is what you want for better terms.

You'll be fine, just have a little patience and try not to app with debt loads above 29% and you'll do yourself a great service.

[Anonymous]

Congrats on your Amex approval! :-)

[Abelcrdn]

Welcome to the Amex family! Let your Amex grow and I am sure you will be an easy in for Discover! I don't see the need for one but they seem to be all the rage around here!

[Anonymous]

Congratulations! An approval is a good thing. I also got the same $500 offer from them without the special offers. Who needs 'em? I'm now at $1500 and in 6 months, I'll try for $4500.
The good thing is, you're IN there!