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Regular Contributor
yomellamoFICO2013
Posts: 120
Registered: ‎01-22-2013

CREDIT CARD Approval likelyhood.

I am working on rebuilding my credit, which is at 620 FICO.

What's the likelyhood of getting approved for the below credit cards at this score ?

Among the recommended cards from myFico are

Discover IT -

Citi Forward® Card

Citi® Dividend® Card

 

Anybody with a similar recent experience ? I read that I might be able to get approved Walmar GEBank, which other cards should I consider.

FYI - I am not planning on spending, just keeping my debt ratio in a lower level.

I have prior ChargeOffs, Collections, but nothing current. (Average account 7 years or later).

Thank you for taking the time to read and respond.



CURRENT TLS:

AMAZON $2K/ WALMART $2K /DCU $3K DELTA AMEX $1K
DISCOVER $1.2K/ PAYPALEXT $2K /COSTCOTU $1.2K

UPDATED 8/1
EQ
8/1/13 EQ 694 - (myfico) -
7/26/13 EQ 694 - (DCU)
9/10 EQ 701 - (myfico)

EX
9/8 - EX 707 (usaa/EX)

TU
6/18 TU 690 (myfico)
7/2 TU 694 (Walmart)
8/8 TU 676 (Walmart)
9/6 TU 676 (Walmart)
Contributor
charleeislegend
Posts: 103
Registered: ‎07-21-2012

Re: CREDIT CARD Approval likelyhood.

Imo u need at least 680+ for those PRIME cards. U should go for a secured card, credit union card if ur eligible like NFCU. But with that fico and ur history I would say ur wasting inquiries
Credit Karma (TU) : 745 Discover FICO (TU): 770 Credit Sesame (EX): 735 myFICO (EQ) - 713
Amex Simplycash Business - $7000 Travelocity AMEX - $1400 Amex TrueEarnings - $7500 Chase Sapphire - $6000 Citi Forward Student - $5000 Discover IT Student - $1900
Valued Contributor
ryanbush
Posts: 1,293
Registered: ‎08-19-2012

Re: CREDIT CARD Approval likelyhood.

the Discover It will requite a 670-680, the other two will require a 700 minimum and probably closer to 720 for a sure approval

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Contributor
nickn86
Posts: 130
Registered: ‎11-26-2012

Re: CREDIT CARD Approval likelyhood.

I'd give Discover a shot.  I think people here think they are harder to get approved for when they actually are.  They approved me with little credit history (granted, not bad credit), and there seem to be a lot of "surprise" Discover approvals here.

 

What is your utilization now?  If you can raise your score by paying down some debt, do that first if possible.

 

 

Chase Sapphire Preferred - 5.6k (3/13) | Amex Premier Rewards Gold - NPSL (1/13) | Chase United MileagePlus Explorer Visa Signature - 9k (1/13) | Amex Delta Gold - 6k (9/12) | Citi Forward Visa - 10k (10/12) | Discover It - 2k (2/12) | Chase +1 Visa - $300 (2/11)
Valued Contributor
creditnocash
Posts: 2,185
Registered: ‎07-23-2012

Re: CREDIT CARD Approval likelyhood.

I personally would not waste the inquries on those cards... maybe discover it but im not sure what the criteria is for that card. 

id say you have a good shot at walmart, and maybe even discover walmart (with the aaoa)    they exclusively pull tu. 

 

do you have any recent baddies? seems like your score is pretty down there. 

what's you r util? 

Current: Discover Fico 689 7/14 Walmart Fico 682 7/14

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Regular Contributor
yomellamoFICO2013
Posts: 120
Registered: ‎01-22-2013

Re: CREDIT CARD Approval likelyhood.

Thank you for your advice.



CURRENT TLS:

AMAZON $2K/ WALMART $2K /DCU $3K DELTA AMEX $1K
DISCOVER $1.2K/ PAYPALEXT $2K /COSTCOTU $1.2K

UPDATED 8/1
EQ
8/1/13 EQ 694 - (myfico) -
7/26/13 EQ 694 - (DCU)
9/10 EQ 701 - (myfico)

EX
9/8 - EX 707 (usaa/EX)

TU
6/18 TU 690 (myfico)
7/2 TU 694 (Walmart)
8/8 TU 676 (Walmart)
9/6 TU 676 (Walmart)
Frequent Contributor
OptimasPrime
Posts: 348
Registered: ‎08-17-2012

Re: CREDIT CARD Approval likelyhood.

[ Edited ]

charleeislegend wrote:
Imo u need at least 680+ for those PRIME cards. U should go for a secured card, credit union card if ur eligible like NFCU. But with that fico and ur history I would say ur wasting inquiries

I'd agree wih this for the most part although I've seen posters with scores in the 660's sneek in with discover. You might have chance with Gemb but even that is iffy with your current scores. As suggested above, a secured card or a credit union would probably be the best way to go in the short term.

 

I played around a bit with the card finder feature on this site that the op referenced, and I have to say that I find it to be extremely misleading. In no way, shape, or form should a citi forward be listed as a recommended card for someone with ficos between 540-640 (disregarding the fact that there are questions as to whether or not it has been discontinued). Yet under the cardfinder on myFico, this is the case. I encountered several other questionable recommendations as well. I would advise people to take the results they receive under this feature with a grain of salt, and suspect that paid advertising is likely the root cause of the problem. 

 

 

Note- I'm certainly not trying to bash myFico and think that the site as a whole is excellent, I just think that this one particular service could be improved upon.

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Regular Contributor
yomellamoFICO2013
Posts: 120
Registered: ‎01-22-2013

Re: CREDIT CARD Approval likelyhood.

I am certanly taking every reply as a grain of salt  and learning how to manage my score is my biggest priority. I am in for progressive credit score, which I know it takes time to achieve.

Needless to say, I have learned from my past financial mistakes, and now considering more careful options, so I can bring my score and credit reputation to the positive side.

I will let you all know the result of my decision.



CURRENT TLS:

AMAZON $2K/ WALMART $2K /DCU $3K DELTA AMEX $1K
DISCOVER $1.2K/ PAYPALEXT $2K /COSTCOTU $1.2K

UPDATED 8/1
EQ
8/1/13 EQ 694 - (myfico) -
7/26/13 EQ 694 - (DCU)
9/10 EQ 701 - (myfico)

EX
9/8 - EX 707 (usaa/EX)

TU
6/18 TU 690 (myfico)
7/2 TU 694 (Walmart)
8/8 TU 676 (Walmart)
9/6 TU 676 (Walmart)
Established Contributor
dodgeball
Posts: 761
Registered: ‎10-16-2007

Re: CREDIT CARD Approval likelyhood.

I got approved with dicover with a 637 transunion score, I am the exception not the rule. 

NFCU Cash Rewards Siggy $22k, NFCU Flagship Rewards Siggy $22K, NFCU Platinum MC $20K, USAA Amex Rewards $6k, USAA World Mastercard Rewards $6k, NFCU Navcheck $15k

Other Cards - Citibank AAdvantage, Chase Slate, Barclays Rewards,


IN THE GARDEN UNTIL APRIL 2014

NFCU FAN CLUB MEMBER #1









Chase Star Card
NFCU FAN CLUB FAN#1
Valued Member
ednajen
Posts: 55
Registered: ‎12-16-2010

Re: CREDIT CARD Approval likelyhood.

[ Edited ]

I got the Discover more with a TU around 630, probably a little lower.  I noticed that when I was approved they told me I didn't qualify for their best interest terms so they adjusted the advertised apr.  It didn't matter to me as I PIF each month. I hope that helps.

 

EDIT, I pc'd to an IT last month.

Go to cards: Amex BCE , CSP, Discover IT, Amex Gold NPSL

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