Can I get a Chase or Discover card?

[aj1505]

I've been looking at the Chase Freedom and Discover IT cards and was wondering if I could make the cut. I've been lurking and learning for a while and decided to jump out and get some advice of my own. My info is as follows:

MyFICO: TU & EQ 676

FAKO EX: 668

Inquiries: TU & EQ have 1 in the last year and EX has two

Income: 70K

AAoA: 7 years

Last late payment: 3 years ago

Baddies: 3 (but showing paid or $0 balance)

Accounts:

Discover (as AU): 6100 owed/ 9800 credit limit / open 10 years

Capital One: 91 owed/ 200 credit limit/ open 18 months

Student Loans: 15K owed / refinanced last year

Capital One Auto Loan: 5200 owed refinanced 2 years ago

I hope that's enough information. Looking forward to your responses.

[09Lexie]

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@aj1505 wrote:

I've been looking at the Chase Freedom and Discover IT cards and was wondering if I could make the cut. I've been lurking and learning for a while and decided to jump out and get some advice of my own. My info is as follows:

MyFICO: TU & EQ 676

FAKO EX: 668

Inquiries: TU & EQ have 1 in the last year and EX has two

Income: 70K

AAoA: 7 years

Last late payment: 3 years ago

Baddies: 3 (but showing paid or $0 balance)

Accounts:

Discover (as AU): 6100 owed/ 9800 credit limit / open 10 years

Capital One: 91 owed/ 200 credit limit/ open 18 months

Student Loans: 15K owed / refinanced last year

Capital One Auto Loan: 5200 owed refinanced 2 years ago

I hope that's enough information. Looking forward to your responses.

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Your scores are within range but your util is too high. I think your chances of approval and nice CL would be better if you got your util down. 

YMMV

[LS2982]

I think you should be good for either card.

[jsucool76]

I would definitely say pay down your balances as much as you can before you app app just to help your chances.

[Bobert22]

Welcome to myFico forums! 

First off, what are the three baddies you currently have showing on your credit report? 

I think you may be approved for the Discover IT, especially since Discover has recently been in a giving mood, with members getting approved or limits higher than their current limits. 

I would personally, try Chase first as they're really good with recons, when you're denied.

[aj1505]

Thanks for all the responses so far. I can pay down the discover balance a bit more and I can definitely pay down the cap one balance. I would like to use the new card for a BT on part of the discover balance (depending on the CL). I have 2 collections accounts that were paid off a little more than a year ago and a CO from 5 years ago that is paid but im waiting on it to drop.

[firstladyd]

I would say get the util down. Try to gw the 2 pd baddies. Maybe offer a pd for delete on the 3rd one unless you're not worried about it because it's dropping off.  I would go for the Discover It first because they are being very generous right now.  Then I would garden 6 months to a year to try to get higher limits with the Discover and Cap one. then app for the Chase. jmho 

[MovingForward_2012]

What are the DOFDs on the collections?

[LS2982]

I would consider removing yourself as AU on the Discover you have good history on your own cards and without the high util on the Discover you should be good for your own. Is the Cap1 a secured card??? If so make a deposit on it and get your CL up to $2K then app for Discover.

[aj1505]

Thanks for all the responses. I kept going over it in my head and my itchy trigger finger wouldn't leave me alone. So since I didn't have a lot of inquiries I took a chance. I applied online and got the further review message. Of course I called the recon line and they answered before it even rang. I told the guy that I applied and wanted him to take a look at my app. He put me on hold then came back and said it was initially decline but he would manually review it. He put me on hold again then came back and asked me about a dispute on my report for the CO account. I let him know I was disputing the late payment they reported even though its a couple year old. He put me on hold a 3rd time. (agaony) He came back and approved me for a $500 CL. Not quite what I was looking for but it will due for now. The funny thing is being an AU on the discover account didn't make much difference. He said they didn't count it in determining my credit limit and it didn't make a difference in the results. Thanks folks for all you helpful responses. I'm sure I will have more questions in the future.