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Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Discover as first card???

Just out of curiosity has anyone ever gotten a Discover card as their first credit card? That applies to either the student version or regular version.

If it hasn't happened to you, have you heard of it happening before?

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Discover as first card???

Discover was my first card... but that was in 1999. It was student version... sometime or another it became a regular More.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: Discover as first card???

Thanks for the response, web! Others??

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Discover as first card???

[ Edited ]

a friend of mine had the college version as his first card at age of 19.

CL was like 700.

 

To add: He had no prior credit history at all. No other CCs, no auto loans, nothing. Just had a debit card and a checking account.

It was also a lot easier to get an unsecured CC back in 2007 though. 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Discover as first card???

Seem like its more easy as a student version since Discover consider as PRime land


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Contributor
daybreakgonesXe
Posts: 1,663
Registered: ‎11-17-2012

Re: Discover as first card???


SnackTrader wrote:
Just out of curiosity has anyone ever gotten a Discover card as their first credit card? That applies to either the student version or regular version.

If it hasn't happened to you, have you heard of it happening before?

My boyfriend did, after having only a student loan and auto loan reporting. However, it was a counteroffer to whichever card he applied for. Not sure exactly of the terms, but they approved him for an initial limit of $1200. It has since grown to $3000 in a year!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k

EQ FICO 737 TU FICO 746 Credit Karma (TU) 780 Transrisk 816/990 Credit Sesame (EX) 762 Credit.com (EX) 763 VantageScore 3.0 733
Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: Discover as first card???

I appreciate each of you taking the time to answer, but daybreak has exactly the type of info I need!!! Thanks all!

Do you know if your boyfriend had started repayment on the loan at the time or if it was in deferment?

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Valued Contributor
daybreakgonesXe
Posts: 1,663
Registered: ‎11-17-2012

Re: Discover as first card???


SnackTrader wrote:
I appreciate each of you taking the time to answer, but daybreak has exactly the type of info I need!!! Thanks all!

Do you know if your boyfriend had started repayment on the loan at the time or if it was in deferment?

Both loans were in repayment; I think it's also important to note that he was not a student, nor did he apply for a student card at the time! So the application was completely based on his auto and student loan.

 

I'm double checking with him, but this looks like his stats when he applied for Discover...not sure what his credit score was!

 

Ally Financial, auto loan. Opened July 06, 2011, $182 per month. Balance at the time was around $8100.

USDOE, student loan. Opened August 11, 2010. He doesn't remember the exact monthly payment offhand, but it's around $130. Balance at the time was around $1400.

 

He applied for the Discover around the beginning of May. It was opened May 18th, 2012. Definitely pulled TU, but unconfirmed if they pulled multiple bureaus...the boyfriend doesn't feel like checking his other reports this late :smileytongue: Have 5 previous inquries on TU, unsure of age of them at time of application but I assume fairly recent since those same inquires have not dropped off yet. Only score that was known at time of application was CK, at 657.

 

Hope that helped snacktrader!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k

EQ FICO 737 TU FICO 746 Credit Karma (TU) 780 Transrisk 816/990 Credit Sesame (EX) 762 Credit.com (EX) 763 VantageScore 3.0 733
Regular Contributor
eagles08
Posts: 220
Registered: ‎04-24-2013

Re: Discover as first card???

My girlfriends first card was the new Discover IT!!! She's a student so idk if that helped but yeah. $1,000 limit which is a great start!!
Current Scores: EQ 728 FAKO PLUS CreditScore. EX 730 Lender Pull. TU - 741 FAKO PLUS CreditScore

****NPSL**********$6,000**********$4,500************$3,500*********$3,000*********$1,900***********$1,800*******$1,000****
Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: Discover as first card???

That's a huge help, daybreak! Thank you and your boyfriend for being so willing to share!

I'm thinking that the presence of good debt repayment on the student and auto loans helped him just as they helped me when I was applying for my first card. Unfortunately, not all of my younger family members are so lucky as they generally have student loans in deferment and no auto loans. But since they are all students, maybe that changes things.

Something I should have stated earlier in this thread is that I am basically attempting to identify the best rewards card to fit credit newbies based on their spending habits and chances of approval. Sure, they could get a secured BoA and add rewards, but it would be excellent if I could identify a situation where they could obtain a Freedom, Forward, Discover, etc.

The difficulty is that I see many people getting student cards who already have store/secured cards on their reports, and many people who don't have that characteristic getting declined. So I'm trying to find the outliers, but MyFico searches were rather cumbersome.

In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014

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