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DISCOVER MORE....DENIED!

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AprilShowers4
New Contributor

DISCOVER MORE....DENIED!

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I think I got too excited. I was reading here and a another forum where people with similar scores had been approved for this card. I went to the pre-approval site, there was nothing there for me, but they recommended the discover more, so I applied. I was automatically denied. It said my recent derogatory items are too new. I have a public record from 2011. I defaulted on a payment plan with asset acceptance when I lost my job. I also was evicted so that is on my record. I also have another collection item. It also stated too many inquiries. My question is, as these things age, will I stand a chance to be approved for a prime card, or will I have to wait until these things disappear? I said my equifax score was 646.

Message 1 of 8
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skyisthelimit
New Contributor

Re: DISCOVER MORE....DENIED!

Yes, time will fix it; you don't need the 7 years to get a prime card.  The best thing right now is to get 2 secure cards and build from there, wait 1 year from the time you get those and app again.  Also have you tried to recon it?  If they can verify your income and everything it might change you to approval.  GL.

Message 2 of 8
skyisthelimit
New Contributor

Re: DISCOVER MORE....DENIED!

 

Also your score isn't bad for all that on your record, your be in the high 600's/low 700's by this time next year if you stay app free and have two-three revolving credit cards.

Message 3 of 8
AprilShowers4
New Contributor

Re: DISCOVER MORE....DENIED!


@skyisthelimit wrote:

Yes, time will fix it; you don't need the 7 years to get a prime card.  The best thing right now is to get 2 secure cards and build from there, wait 1 year from the time you get those and app again.  Also have you tried to recon it?  If they can verify your income and everything it might change you to approval.  GL.


No I haven't tried to recon it. Maybe I will. I will definitely look into getting a secured card.

Message 4 of 8
AprilShowers4
New Contributor

Re: DISCOVER MORE....DENIED!


@skyisthelimit wrote:

 

Also your score isn't bad for all that on your record, your be in the high 600's/low 700's by this time next year if you stay app free and have two-three revolving credit cards.


Thanks. I was so surprised when I saw my my fico score. Last feb, my score was mid 500's. I got a care credit because I needed a dental procedure done, and I have a cap one platinum card. I kept receiving pre-approvals in the mail from them, I got that last August. I also have an auto loan. I was so clueless about credit, I am so glad I found this forum.

Message 5 of 8
skyisthelimit
New Contributor

Re: DISCOVER MORE....DENIED!

The boards help me to keep my utlilization down, really want to get on here next year and say "700 club!" getting close to it.  Keep your utilization under 10% when you go to app for the card and make sure it is showing up on your credit report as under 10% so 50/500 card, or whatever the limits are.  GL on your travel up!

Message 6 of 8
Repo-ed
Senior Contributor

Re: DISCOVER MORE....DENIED!

Had you posted your credit file prior to app'ing, we could have told you that a denial was inevitable, right now.

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 7 of 8
Revelate
Moderator Emeritus

Re: DISCOVER MORE....DENIED!


@AprilShowers4 wrote:

@skyisthelimit wrote:

 

Also your score isn't bad for all that on your record, your be in the high 600's/low 700's by this time next year if you stay app free and have two-three revolving credit cards.


Thanks. I was so surprised when I saw my my fico score. Last feb, my score was mid 500's. I got a care credit because I needed a dental procedure done, and I have a cap one platinum card. I kept receiving pre-approvals in the mail from them, I got that last August. I also have an auto loan. I was so clueless about credit, I am so glad I found this forum.


Actually you really don't need much of anything else right now with 2 credit cards (well care credit is sorta strange but it counts as revolving) and an auto loan... other than just paying on time every time.

 

A third card would probably help in the mid to longer term as you're going to need to wait a bit for your derogs to age (probably at least another year); so, if you want another card right now, secured would be the way to go.  In your case I'd see about either BOFA, NFCU (if you have access), or USBank as they offer rewards packages on their secured cards and can be used for every day cards equivalent to much better cards we just don't have access to for various reasons.  

 

Anyway there's no shame in taking a swing at a card and missing, that's how we all learn, and finding this forum is truly an excellent thing for credit information.




        
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