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Member
rolen_it_up
Posts: 8
Registered: ‎08-14-2010
0

Discover More requirements

I recently applied for a Discover More card and was declined. Used the backdoor # found here, and spoke to two different CSRs with no luck.

 

What I find troubling is, on their site Discover shows different APR options for that specific card for all credit types. They have rates for Excellent, Average, Poor, and I don't know (whatever that means).

 

If someone can get that card with poor credit, I'm at a loss as to why I was declined. 

 

My credit is not amazing, but I've been 660-690 over the past two years, depending on utilization. 

 

Has anyone else been declined for the More card? 

 

I'm just looking for some insight.


Starting Score: 633 EQ 9/5
Current Score: 633 EQ
Goal Score: 680 EQ


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Epic Contributor
Creditaddict
Posts: 21,487
Registered: ‎10-23-2007
0

Re: Discover More requirements

what are the reasons they are declining you?

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
65 Cards and Counting :smileytongue:
Member
rolen_it_up
Posts: 8
Registered: ‎08-14-2010
0

Re: Discover More requirements

They claimed utilization, based on EQ and TU. Both reported 3000$ balance on my CapitalOne card, which bothers me as my current balance is 1700. I paid 1000 on 7/23 and 900 on 8/9.

 

Apparently CapitalOne is very slow to report balance updates to the CBs. 


Starting Score: 633 EQ 9/5
Current Score: 633 EQ
Goal Score: 680 EQ


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Epic Contributor
Creditaddict
Posts: 21,487
Registered: ‎10-23-2007
0

Re: Discover More requirements

it only gets reported once a month, so until your next statement it won't be updated that you made payments.

Discover is a very conservative lender, especially these days.

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
65 Cards and Counting :smileytongue:
Member
rolen_it_up
Posts: 8
Registered: ‎08-14-2010
0

Re: Discover More requirements

[ Edited ]

I understand the once a month thing, but 7/23 was 25 days ago. That should be there.

 

But I was really more looking for insight as to the tiered APR listings on Discover's site, with regard to this card.


Starting Score: 633 EQ 9/5
Current Score: 633 EQ
Goal Score: 680 EQ


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Epic Contributor
Creditaddict
Posts: 21,487
Registered: ‎10-23-2007
0

Re: Discover More requirements

many lenders have tiers. I have never heard a specific score that gets you what tier, I feel like it's how good of a day the underwriter is having!

My dillards Amex has 4 tiers and of course GE will not move it once it's set

Nordstrom has 4 tiers, they are very good about taking you to better rates after having the card

Nationwide has tiers, I have seen people get 15k limits and a high apr tier and someone with half the CL get the best APR, so what gives

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
65 Cards and Counting :smileytongue:
Contributor
davidsawsparks
Posts: 89
Registered: ‎07-16-2010
0

Re: Discover More requirements

I understand exactly what you mean. Why even bother listing options for all types of credit when they won't even truly approve anything lower than excellent. I actually talked to one of the csr via the online chat and they told me that the software to determine which card is best for you isn't working properly. Discover More is meant for people with very good to excellent credit. In my case, I opted to apply for the Motiva which they said is the card for someone trying to rebuild... yet they still declined me because I have a released tax lien on my report that's a couple years old. Recon wouldn't even work. They told me to try and apply again in 45 days. I asked them what good would that do? That public record isn't going to magically vanish from my report for another 5 years. What's the point of trying for a rebuilding card when in order to get one, you'll have to have an unblemished report? Doesn't make much sense... but what can you do.

     
    
Frequent Contributor
joestay
Posts: 374
Registered: ‎01-08-2010
0

Re: Discover More requirements

Did you applied after you get a pre-approved letter or did you just apply out of the blue?


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