CREDIT CARD Approval likelyhood.

[dodgeball]

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@ednajen wrote:

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.

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Same thing happened to me got the promotional rate to the end of 2014, not worried because if you pay on time and dont run the balance up to high discover will lower the APR at the end of the year for you,

[CribDuchess]

Walmart/GECRB would probably let you in the door, as well as Capital One.  I don't think Citi has a product that you could qualify for right at this moment.  As others have stated, Discover seems to be an unknown - some have had success at scores below 650 while others have not.

How old are those collections/charge-offs?

[bbb3601]

As always YMMV, but I feel you should wait. 620's with a thin or new file is one thing while 620's with baddies even older baddies are tough to pass by discover.  That being said i was mid 630's and Barclay's took a chance. They may be an option for you esp if your TU is stronger than your other reports?

[Revelate]

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@bbb3601 wrote:

As always YMMV, but I feel you should wait. 620's with a thin or new file is one thing while 620's with baddies even older baddies are tough to pass by discover.  That being said i was mid 630's and Barclay's took a chance. They may be an option for you esp if your TU is stronger than your other reports?

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I'd agree; while the historical typical minimum for Discover More (and as I understand it the current It) is around 640 FICO, there's a big difference between 620 and 640 for the vast majority of lenders out there.

[nickn86]

Again, I'd go for the Discover.  I think inquiries are pretty overrated on this board unless you're going to mortgage shop within 6 mo-1 year and getting the card could really help you out.  Inquiries only real affect your score for a few months (I think after that they bring it down by 5 points or less until they stop factoring in after a year) and even then it's only around a 10 point drop.  I think the benefit of your case would outweigh the risk.  My bet is they approve you without the 0% APR intro.

Though I'd wait if you could improve your score by bringing down util.  If you can, pay some off and then wait for that to be reflected on your reports.

[yomellamoFICO2013]

Update.

Discover denied me right after I applied when my score was still on the 620 mark.

Since I originally posted, my scores went up to 676. I applied for Walmart and Amazon Store Card last week, and was Approved !!

[09Lexie]

Congrats on the 2 approvals! GE will grow with you. 

Dont forget to sign up for paperless statements to get your free TU score.