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Frequent Contributor
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Registered: ‎05-16-2012
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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

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