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

Re: Discover immediate access?

[ Edited ]

pdog661 wrote:

Just be very cautious with a mortgage pending.


Personally I would rather risk losing the fridge deal then the mortgage underwriters asking more questions. 


I applied for a discover card 1 month before a re-fi with a 797 credit score, very low debit to income including mortgage payment, and had to explain it to the underwriters.  They didn't like it.  I would believe they would have liked it even less if I applied after approval of my file.   


Discover reports your inquiry same day ( in my case), and if they run your credit prior to closing it may cause a red flag.


If it changes anything on your mortgage the 500 savings on the fridge will be gone quickly. 

while I appreciate (and expected) the mortgage advice, it's something I've considered carefully and discussed with all parties involved, but this post was just about Discover

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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