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

Discover immediate access?

I'm finally ready to purchase appliances for my new house after I got the go ahead from my loan officer to add a new inquiry to my report...

 

so...my question is, does Discover give immediate access to the credit card like USAA does, or do I have to wait until I get the card in the mail? Discover also has a $100 after spending $1000 (which my appliances will cover) in 3 months so it's the best deal, but if need be I'll just request a CLI from chase. Help? :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 Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008

Re: Discover immediate access?

You will need to wait till the card comes in for Discover. If you want immediate access why dont you try Lowes? I believe they give immediate access. They are back by GE.

$100K in Credit
Last Credit Card App: 11/16/13
Frequent Contributor
seigex
Posts: 425
Registered: ‎05-16-2012

Re: Discover immediate access?

[ Edited ]

chnceit wrote:
You will need to wait till the card comes in for Discover. If you want immediate access why dont you try Lowes? I believe they give immediate access. They are back by GE.

Thanks for the reply, Discover's giving me 14 months no interest and $100 back after first purchase with this preapproval and 9.99% afterwards... unfortunately lowes is either 5% discount OR 6 months no interest, but not both

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
chnceit
Posts: 1,524
Registered: ‎08-17-2008

Re: Discover immediate access?

No problem

Thats a very good deal, Discover is a great CCC, and if you are not in a rush to get the card them go that route.

But if you need instant access then Lowes is a great choice.

Both cards will grow with you.

Just remember pre approvals doesn't mean guaranteed approved

$100K in Credit
Last Credit Card App: 11/16/13
Frequent Contributor
bostonte
Posts: 252
Registered: ‎10-04-2009

Re: Discover immediate access?

Accept the preapproval by phone and ask for the card to be expedited. You would get it in one to two days.

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

Re: Discover immediate access?


bostonte wrote:

Accept the preapproval by phone and ask for the card to be expedited. You would get it in one to two days.


Perfect timing, I was just about to ask that question.. thanks!

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
pdog661
Posts: 377
Registered: ‎03-31-2012

Re: Discover immediate access?


seigex wrote:

I'm finally ready to purchase appliances for my new house after I got the go ahead from my loan officer to add a new inquiry to my report...

 


 

Please use caution!  LO's are not the underwritters.  They do not know what will prevent your from approval.  Personally I say close first, and then move on to new credit.  Some underwritters will re-run your credit, and any new credit can cause an issue. 

 

Close before you buy anything for your new home.  Until the documents are signed anything can happen. 

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

Re: Discover immediate access?


pdog661 wrote:

seigex wrote:

I'm finally ready to purchase appliances for my new house after I got the go ahead from my loan officer to add a new inquiry to my report...

 


 

Please use caution!  LO's are not the underwritters.  They do not know what will prevent your from approval.  Personally I say close first, and then move on to new credit.  Some underwritters will re-run your credit, and any new credit can cause an issue. 

 

Close before you buy anything for your new home.  Until the documents are signed anything can happen. 


I have no debt, so my debt to income ration is 0% and my score won't be hurt by an inquiry.. so I'm not worried about new debt, the only issue i'd be concerned with is the udnerwriters not liking the new line of credit.. the problem is the fridge I want is on sale for about $1300 off msrp and $800 off from any other current special, so it's quite a substantial savings... but luckily I checked Lowes which has a sale on it until next week, even though everybody else ended the same sale, so I can wait until I close Friday to purchase it as long as they don't run out of stock.

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
pdog661
Posts: 377
Registered: ‎03-31-2012

Re: Discover immediate access?

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. 

Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Discover immediate access?

The offer always there or you can call and request for that.

Just go throu the pre-approval side its should come up anytime. I even got a better deal on the offer for 150CB for 1000 spending in 3 months. They only gave me 4%apr and 1.7k limit for 6 months but i take it since i alway PIF.

You should hold the trigger till your morgate done since the CC not really worth that much.

In case you approve just call them and get your card expected. They very good with that. I love their Customer service so far.


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