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Discover odds and advice- UPDATE

Regular Contributor

Discover odds and advice- UPDATE

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!! 

 

Message 1 of 25
24 REPLIES
Contributor

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?)
Message 2 of 25
Regular Contributor

Re: Discover odds and advice

I have

 

1 EX

1 EQ

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

Message 3 of 25
Valued Contributor

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


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 4 of 25
Contributor

Re: Discover odds and advice

I agree.

Go for IT

 

Great card Smiley Wink


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?)
Message 5 of 25
Senior Contributor

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!

Banking with CBofTV, and HSBC.
First Premier CC $500, Discover IT Secured $200, Neiman Marcus $1,500
Chapter 7 BK Discharged on 7/11/16
Equifax, Experian, Transunion, and ChexSystem are FROZEN.
Gardening Since 12/01/2017
Message 6 of 25
Regular Contributor

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!

Message 7 of 25
Contributor

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?)
Message 8 of 25
Valued Contributor

Re: Discover odds and advice

Discover is known to pull TU


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 9 of 25
Senior Contributor

Re: Discover odds and advice

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

Banking with CBofTV, and HSBC.
First Premier CC $500, Discover IT Secured $200, Neiman Marcus $1,500
Chapter 7 BK Discharged on 7/11/16
Equifax, Experian, Transunion, and ChexSystem are FROZEN.
Gardening Since 12/01/2017
Message 10 of 25