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Frequent Contributor
seigex
Posts: 425
Registered: ‎05-16-2012

Denied for Discover Card ..

[ Edited ]

My credit has gone through major rebuilding. I now have an almost emaculate credit file, aside from a 7 year old PAID charge-off that is about to fall off any time now and open accounts are relatively new. AAOA is 5 years, oldest account is 15 years. Credit scores range from 690 to 740. Reported util is less than 1%, and above 80k income.

 

Got a pre-approval from Discover and was shown pre-approved offers on Discover's pre-approval site that included soft pulls from my credit, so decided to apply to take advantage of the 14mo no interest and 9.99% rate.

 

I was declined.

 

They pulled EQ which is my 690, but again only negative is the old paid charge off. After two attempts at recon, I was told each time that the old charge-off is "most likely" why I was declined and to call the CRAs to have them remove it then reapply (and will get another HP).

 

Oh well, guess they don't want my business. Now I'm scared to app for anything new.

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500
Valued Member
frddlawson
Posts: 45
Registered: ‎02-01-2011

Re: Denied for Discover Card ..

Thats weird, because I have a discover and when I applied, my credit wasnt near as good as yours. There has to be something else they are looking at beside that one baddie. Have you been late with any cc in the past? They approve me for $1500 on April 2011. I had a credit score of 650 with some lates back in 2009. Try to recon ONE more time, I believe the right rep will approve your request.

Frequent Contributor
wallyworld123
Posts: 455
Registered: ‎01-04-2012

Re: Denied for Discover Card ..


seigex wrote:

My credit has gone through major rebuilding. I now have an almost emaculate credit file, aside from a 7 year old PAID charge-off that is about to fall off any time now and open accounts are relatively new. AAOA is 5 years, oldest account is 15 years. Credit scores range from 690 to 740. Reported util is less than 1%, and above 80k income.

 

Got a pre-approval from Discover and was shown pre-approved offers on Discover's pre-approval site that included soft pulls from my credit, so decided to apply to take advantage of the 14mo no interest and 9.99% rate.

 

I was declined.

 

They pulled EQ which is my 690, but again only negative is the old paid charge off. After two attempts at recon, I was told each time that the old charge-off is "most likely" why I was declined and to call the CRAs to have them remove it then reapply (and will get another HP).

 

Oh well, guess they don't want my business. Now I'm scared to app for anything new.


definitely a ymmv but, i am surprised you were not approved the paid charge off may stay on your report normally if it was in collections as unpaid it would have fell off already by it being paid it may stay on for up to 10 years again a ymmv situation. I would try recon once more best of luck!

Frequent Contributor
seigex
Posts: 425
Registered: ‎05-16-2012

Re: Denied for Discover Card ..


frddlawson wrote:

Thats weird, because I have a discover and when I applied, my credit wasnt near as good as yours. There has to be something else they are looking at beside that one baddie. Have you been late with any cc in the past? They approve me for $1500 on April 2011. I had a credit score of 650 with some lates back in 2009. Try to recon ONE more time, I believe the right rep will approve your request.


Nope, no other baddies, was even able to buy a house. Nothing else negative on my report. One told me no, then said they would put my file up to their supervisor on Monday, but that he will say no as well.

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500
Frequent Contributor
seigex
Posts: 425
Registered: ‎05-16-2012

Re: Denied for Discover Card ..


wallyworld123 wrote:

seigex wrote:

My credit has gone through major rebuilding. I now have an almost emaculate credit file, aside from a 7 year old PAID charge-off that is about to fall off any time now and open accounts are relatively new. AAOA is 5 years, oldest account is 15 years. Credit scores range from 690 to 740. Reported util is less than 1%, and above 80k income.

 

Got a pre-approval from Discover and was shown pre-approved offers on Discover's pre-approval site that included soft pulls from my credit, so decided to apply to take advantage of the 14mo no interest and 9.99% rate.

 

I was declined.

 

They pulled EQ which is my 690, but again only negative is the old paid charge off. After two attempts at recon, I was told each time that the old charge-off is "most likely" why I was declined and to call the CRAs to have them remove it then reapply (and will get another HP).

 

Oh well, guess they don't want my business. Now I'm scared to app for anything new.


definitely a ymmv but, i am surprised you were not approved the paid charge off may stay on your report normally if it was in collections as unpaid it would have fell off already by it being paid it may stay on for up to 10 years again a ymmv situation. I would try recon once more best of luck!


The charge off is scheduled to fall off my report this month, but either way, I was able to get $36k in credit from other venues before my other baddies fell off. And no collections on my report, it's emaculate aside from the one old paid chargeoff. I think I'll call again. Might as well, don't want to waste an HP :smileyhappy:

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500
Valued Member
credit3xhausted
Posts: 35
Registered: ‎04-02-2012

Re: Denied for Discover Card ..

[ Edited ]

Well, I can feel your pain.  My denial for the Discover Motiva card was declined because of a 7 yr old foreclosure that drops off in Feb 2013 and one unpaid charge off that drops off in less than 30 days.  BTW, the denial letter also stated that my EQ came back at 633.

 

I guess in March after I verify that both negatives have dropped off I will apply again.

 

I am so inpatient that these next few months are going to be hell.

 

Wait till it drops off and reapply.  The promotion you mentioned is worth it.

 

Best of luck!

MyFico on 03/30/12: EQ 500; MyFico as of 03/06/2013: EQ 653
Wal-Mart (TU08) on 12/09/2012: 637; Wal-Mart (TU08) 03/07/2013: 700

Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Re: Denied for Discover Card ..

What was the amount of the old charge off?



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Frequent Contributor
seigex
Posts: 425
Registered: ‎05-16-2012

Re: Denied for Discover Card ..

[ Edited ]

Duncanrr wrote:

What was the amount of the old charge off?


Around 3K, paid off a couple years ago and late payment history deleted from account, with no associated collection

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500
Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Re: Denied for Discover Card ..

It may be the relatively high amount.  (Im grasping at straws as I anticipated your CR would had been good enough.  Have you changed addresses lately, did you put your right shoe on first before your left one?)



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Frequent Contributor
seigex
Posts: 425
Registered: ‎05-16-2012

Re: Denied for Discover Card ..


Duncanrr wrote:

It may be the relatively high amount.  (Im grasping at straws as I anticipated your CR would had been good enough.  Have you changed addresses lately, did you put your right shoe on first before your left one?)


been at this address for 25 months, bought a house but don't move in until Monday so I used my current address, only reference to the new house is an inquiry. Trust me, I've been grasping on this one trying to figure it out too... I didn't think for one second it would be denied, but one thing I've learned on getting credit is there's no true rhyme to the reason.

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500

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