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Discover card approval with a 654 credit score and 2nd try

Discover card approval with a 654 credit score and 2nd try

Applied for Discover in 6/2010 after getting pre approval in mail and was contered-offered the HSBC Discover. Decided to reapply last week (without a pre approval) and was approved for the Discover Motiva for $1500. I know the CL is low but i plan to take good care of this card. They pulled EQ (654) and then TU (659). Was not an instant approval. Applied on 3/24 and got the 30 day message. They called me on 3/29 to go over application and approved me over the phone. Asked questions about credit report, income, mortgage pymnt, etc.  I have no baddies but i have balances on a few of my cards. AAoA 1 year 9 months.  I would like a slightly higher CL and plan to ask upon activation to take advantage of the 3.99% BT and get rid of a few balances on high APR cards. Not the best deal but its a start. I plan to act responsibly with this card and hpe it will grow. My first prime card!

 

Have a Macy's $2K CL, Cap One Plat $1k CL, Cap One MTV $750 CL HSBC Discover $300 CL, Orchard Bank $300 CL, no late payments but some have balances.


Starting Score: 603
Current Score: 654
Goal Score: 725


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6 REPLIES
Valued Contributor

Re: Discover card approval with a 654 credit score and 2nd try

WIth a 654 and AAoA <2 years, you're very fortunate to get the card.  Don't worry, if you use it, you will get frequent CLIs.  (had to delete what I typed the first time, it sounded dirty! lol)

 

$1.5K with Discover and your credit profile is very reasonable, and you shouldn't be ashamed.  I wouldn't get greedy by asking for a CLI at activation.  Just be glad to "get your foot in the door."


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Message 2 of 7
Super Contributor

Re: Discover card approval with a 654 credit score and 2nd try

Congrats!  It seems mid 600 FICO scores are meaningful again.

Message 3 of 7
Contributor

Re: Discover card approval with a 654 credit score and 2nd try

Congrats - I love Discover! What benefits does the Motiva have vs the More? 

Message 4 of 7
Highlighted
New Contributor

Re: Discover card approval with a 654 credit score and 2nd try

Congrats!!!!

EQ Starting Score: 584 | TU Starting Score: 547
EQ Current Score: 650 | TU Current Score: 643 | EX Current Score: 643
EQ Goal Score: 700 | TU Goal Score: 700 | EX Goal Score: 700
***Staying*** " with prayer that is " with in the garden and no (more) applying until mid-end of 2015!



Message 5 of 7

Re: Discover card approval with a 654 credit score and 2nd try

Thank you for the advice and you are correct! I feel VERY fortunate to have this card and my foot in the Discover door! I've decided NOT to ask for a CLI upon activation, Im just gonna be responsible and hope it pays off!

 

There was one thing that the rep said to me that was interesting. He said "thank you for calling back, alot of people dont bother to call back". So maybe if you apply and  get that 30 day message and get a call from them, you should return the call, it could possibly get your foot in the door!


Starting Score: 603
Current Score: 654
Goal Score: 725


Take the FICO Fitness Challenge

Message 6 of 7

Re: Discover card approval with a 654 credit score and 2nd try

Motiva seems to be a better fit if you carry a balance. You get a pay on time bonus in the form of a months credit of interest after 6 consecutive on time payments. Into APR is 3.99% for BT for 15 months and 3.99% for purchases for the first 12 months. 5-20% cash back if shopping using their online store. 1% rewards on all other purchases. I will take it for now. I plan to be responsible and maybe move to a better reward card in 15 months if possible. They emailed me this morning and told me the card was on the way (wow-just got approved on tues evening).


Starting Score: 603
Current Score: 654
Goal Score: 725


Take the FICO Fitness Challenge

Message 7 of 7