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Contributor
wche
Posts: 115
Registered: ‎01-29-2013
0

Discover odds and advice- UPDATE

[ Edited ]

Hi everyone, 

 

I posted the following on the FICO score section, but need some advice on my next steps for applying for credit, mainly Discover IT.

 

So apparently I am an AU on one of  my older brother's credit cards. He has been racking up to 95% of the card's utility for quite some time now (having trouble paying it off). Unfortunately, this account is also my oldest TL (6 yrs). His util is really killing my overall util at 46%, and I know this will hurt my chances on applying for future credit. 

 My question is, if I have him take me off as an AU, how will that report on my credit reports? Will the util history still remain and destroy me? Will my AoAA decrease? 


Some relevant info:

 

Overall utility:  46% under my brother's card. 22% on my own cards.

FAKO scores (Privacy Guard): EX 712, EQ 679, TU 707, CreditKarma 752.

AAoA: 3yrs 4mo, No baddies.

22yo, Income 40k

$9900 US Dept Education loans reporting, for last 4 years. I paid them off last December but they have yet to report to the CRAs??

 

I am really interested in Discover IT or AMEX Blue Sky, both of which I have pre-approval mail from. But I don't know how they would respond to the high util %. Any advice is appreciated!! 

 

BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

TU FICO 771
Contributor
SpeedingWheels
Posts: 253
Registered: ‎08-06-2012
0

Re: Discover odds and advice

Depending on how many INQ's you have you should be alright. 


Walmart Discover ($5000) - Amazon ($5500) - Cap1 Cash Rewards ($2000) - Meijer ($5000) - Discover More ($1800) - Car Care One ($2100) - Amex Delta Skymiles ($2000) - Citi Thank You Preferred ($2000) - Chase Freedom ($500) - Sam's Club, GE ($1237?)
Contributor
wche
Posts: 115
Registered: ‎01-29-2013
0

Re: Discover odds and advice

I have

 

1 EX

1 EQ

3 TU (1 dropping in march, 1 in may)

BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

TU FICO 771
Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Discover odds and advice

You got a good chance, I would apply for the IT card because the rewards are nice and no fees especially if you have a targeted offer. Good luck and keep us posted


$100K in Credit
Last Credit Card App: 11/16/13
Contributor
SpeedingWheels
Posts: 253
Registered: ‎08-06-2012
0

Re: Discover odds and advice

I agree.

Go for IT

 

Great card :smileywink:


Walmart Discover ($5000) - Amazon ($5500) - Cap1 Cash Rewards ($2000) - Meijer ($5000) - Discover More ($1800) - Car Care One ($2100) - Amex Delta Skymiles ($2000) - Citi Thank You Preferred ($2000) - Chase Freedom ($500) - Sam's Club, GE ($1237?)
Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,463
Registered: ‎10-02-2012
0

Re: Discover odds and advice

Yes go for discover the thing they most hate is seeing inquries and yours are very low and i asume they must be aging right? if so your possibilites of getting a IT card is great!

Contributor
wche
Posts: 115
Registered: ‎01-29-2013
0

Re: Discover odds and advice

 

 

so I shouldn't worry about the high utilization that my brother is causing? And currently all of my cards are reporting a balance...should I PIF and wait for the 0 balances to report? Also, will the school loans hurt me since it isn't reporting as PIF? Thanks for the input guys!

BOA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 10K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Sallie Mae: 9K | Chase CSP: 8.4K | Barclays Rewards 3k

TU FICO 771
Contributor
SpeedingWheels
Posts: 253
Registered: ‎08-06-2012
0

Re: Discover odds and advice

I honestly think you're going to be fine, plus you can afford the HP if you somehow get denied. 


Walmart Discover ($5000) - Amazon ($5500) - Cap1 Cash Rewards ($2000) - Meijer ($5000) - Discover More ($1800) - Car Care One ($2100) - Amex Delta Skymiles ($2000) - Citi Thank You Preferred ($2000) - Chase Freedom ($500) - Sam's Club, GE ($1237?)
Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Discover odds and advice

Discover is known to pull TU


$100K in Credit
Last Credit Card App: 11/16/13
Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,463
Registered: ‎10-02-2012
0

Re: Discover odds and advice

Keep us posted if you decide to apply. GOOD LUCK!! 


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