Discover just approved ME...yes ME!

[hyprble]

Congrats!  It's great to hear another success story

[butterfly3303]

Thank you!

I received a letter from Discover stating that they used Equifax and that my credit score was 685!!!  UUUHHHH???  My Equifax fico score (at that time) was 628 (pulled from this site)  Does anyone know what scoring model Discover uses?  57 points is a HUGE difference between FICO scores!!

On another note, all of my new accounts are reporting with the exception of the new car loan and Discover and my closed accounts are reporting as closed except for 2 and my scores are all over the place!

According to My Fico - pulled this this site as of yesterday:

Equifax:  626 - Down from 652 before my app spree - 26 pt losss

TransUnion:  677 - Down from 704 - 27 pt loss

WalMart TransUnion Score - 668

According to Lender Pull:

Equifax:  626

TransUnion - 718 -  +14 pts.

Experian:  686 - Down 18 pts (from my last lender pull in September)

So it looks like I have done some major damage in the short term,

[CS800]

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@butterfly3303 wrote:

Thank you!

I received a letter from Discover stating that they used Equifax and that my credit score was 685!!!  UUUHHHH???  My Equifax fico score (at that time) was 628 (pulled from this site)  Does anyone know what scoring model Discover uses?  57 points is a HUGE difference between FICO scores!!

On another note, all of my new accounts are reporting with the exception of the new car loan and Discover and my closed accounts are reporting as closed except for 2 and my scores are all over the place!

According to My Fico - pulled this this site as of yesterday:

Equifax:  626 - Down from 652 before my app spree - 26 pt losss

TransUnion:  677 - Down from 704 - 27 pt loss

WalMart TransUnion Score - 668

According to Lender Pull:

Equifax:  626

TransUnion - 718 -  +14 pts.

Experian:  686 - Down 18 pts (from my last lender pull in September)

So it looks like I have done some major damage in the short term,

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First off, congrats !! .I'm jealous that you have NFCu

Discover uses the new FICO08. My FICO from discover I think was about 35 points higher than the score I get on here. The new formula ignores collections under $100 and I had one that I paid off this year. I'm sure it has other features that makes more sense for this economy but Im not sure what they are.

NOw if i can get KAy Jewellers to remove that collection, I would be golden

[Anonymous]

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@Anonymous wrote:

Well done Mustang, you are such an inspiration for me...heheh....i am trying to do the same thing as you are doing right now...Hope it increases pretty soon

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Thank you, I have worked pretty hard to get where I am now, and MyFico Forum Members have helped me a LOT too.

Keep up your good work and you will be where I am one day soon.

I wish you the Very Best!!

[720ismygoal]

i know exactly how you feel! i had horrible credti my entire life also, so youre not alone! i also dreamed of the day that someone like Discover will say "Congratulations you've been approved!" Well the day actually came true on 4/25/2012! Finally in primville! dont give up, i know how hard it is to see nothing happening and your score slowly moving up, but it will eventually get there! Keep you head up!

[webhopper]

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@butterfly3303 wrote:

Thank you!  It has been a long road but one well worth traveling! 

For the first time in 10 years, I actually had the confidence to go to store and apply for credit IN PERSON.  This was Macys.  While I know that their lending standards are lower than most, it just felt great not to hear the dreaded "You will received a letter in the mail in 7-10 days regading our decision"  LOL!  The sales lady just handed me a credit brochure and attached my temporary account to it and said Congradulations on becoming a Macy's cardholder.  I walked away with a new found pep in my step, my head held high and smiling from ear to ear!  Doesn't get much better than that! 

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Congrats!!  You've turned a corner!  Welcome to Discover They are a great company to work with!

[FrugalRican]

You guys are silly, congratulating a person who got this card in November. lol

[Chris123nTx]

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@mAndrew1980 wrote:

Congrats! It might sound dramatic but I dream of the day I hear the word "approved" from a prime CC like discover. I'm 31 and have had horrible credit my entire life (literally). Some days it seems like it's never going to happen, but reading your post keeps me going.

Can you tell us why your score was in the 500's and what action you took in regards to your negative accounts?

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You have mid to high 700 fico scores across the board along with a chase united ( a prime card ). Although i am conservative about applying for new credit, unless you have some hidden reasons, i cant see you being denied by most issuers, as long as you never burned them in the past, and assuming you have the income. You are in prime territory. Enjoy it carefully, slowly and responsibly and you can always be there.

[LS2982]

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@butterfly3303 wrote:

Well, what a difference a year can make!

Yesterday, I receivced yet ANOTHER invitation to apply for a Discover card.  I figured I had nothing to lose, what was the worst thing that that could happen?  They would say no...but the best thing would be YES!  So I go ahead and enter in my invitation # and answer a few questions and BAM!  Approved for $1,000!  While it is no where near my hightest limit of $16,000, I am IN with Discover! 

Just a little background of recent events:  October

Approved - Credit Cards/LOC

Navy FCU CC - $16,000 - Already reporting

Navy NavChek - $15,000

Navy Personal Loan - $8,000

Lowes - $1550 - Already reporting

Barclay's Apple - $2,500 - Already reporting - applied on Thurday night!

Discover - $1,000

Sam's Club - $600 - Already reporting

Wal-mart - $600 - Already reporting

Macy's Store - $600 - Yes, it is possible to know your credit limit!! - Already Reporting

Auto Approval

2012 Buick Enclave - Fully Loaded! - Not reporting yet

Account Closures:

BBRZM - $450 I closed this account due to annual fee - Not reporting as closed yet

BBRZM - $600 HSBC closed this account due to inactivity - Reporting as closed

Capital One - $750 Closed this account due to annual fee, I was going to close my 2nd card, but Cap 1 waived the annual fee, so for now it is still open - Not reporting as closed yet

Orchard Bank - $450 Closed this acccount due to the annual fee

Chase Auto - Paid off during trade - Not reporting as closed yet

Damage to date:

TransUnion - 2 pt drop from 704 to 702

Equifax - 10 pt drop from 652 to 642  OUCH!!!

I am so grateful to this board!  I would never have been able to clean up my credit with you all!  So thank you! 

I was a little upset when HSBC closed my account due to inactivity, but then I realized that the card served it's purpose!  My score was 540 when I recieved that card and now it is up almost 100 points.  I got WAY more out of them then they got out of me!  I never carried a balance, always paid in full and I got a nice score jump out of the deal in addition to $36,800 in credit in on month from my rebuilder cards.  Knowledge IS Power! 

I have no intentions on applying for anymore credit!  I have all that I need.

For those of you who are still rebuilding, take care of those rebuilder cards!  They will pay off!

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CONGRATS on your success!!!!!!!!! Keep up the good work!!

[Creditdreamer]

+1 FR

Though it's still nice to hear the congrats sometimes.