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Regular Contributor
britishbooklady
Posts: 151
Registered: ‎05-22-2010

Got approved for Walmart...but not Discover

Well, I finally got the scores up to the 670s and thought I'd take a chance and see if I could get approved for a credit card of my own. Right now, I'm listed as an AU on my DH's HSBC Discover.

 

So, I tried Walmart first and got instantly approved for a $500 cl! :smileyvery-happy:  But, that was just for the regular card (not their Discover). 

 

Then I tried for the Biodegradable Discover More card and got denied for the following reasons:

TOO FEW ACTIVE ACCOUNTS

INSUFFICIENT NUMBER OF SATISFACTORY OPEN BANK REVOLVING ACCOUNTS

TOO FEW SATISFACTORY OPENED ACCOUNTS

 

Does anyone know how long I should wait before reapplying?


Starting Score: EX: 661, EQ: 662, TU: 694 [Lender Pull 12/30/2010]
Current Score: EX: 665, EQ: 680, TU: 710
Goal Score: EX: 750+, EQ: 750+, TU: 750+

Take the FICO Fitness Challenge for 2011
Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: Got approved for Walmart...but not Discover


britishbooklady wrote:

Well, I finally got the scores up to the 670s and thought I'd take a chance and see if I could get approved for a credit card of my own. Right now, I'm listed as an AU on my DH's HSBC Discover.

 

So, I tried Walmart first and got instantly approved for a $500 cl! :smileyvery-happy:  But, that was just for the regular card (not their Discover). 

 

Then I tried for the Biodegradable Discover More card and got denied for the following reasons:

TOO FEW ACTIVE ACCOUNTS

INSUFFICIENT NUMBER OF SATISFACTORY OPEN BANK REVOLVING ACCOUNTS

TOO FEW SATISFACTORY OPENED ACCOUNTS

 

Does anyone know how long I should wait before reapplying?


Hi booklady,

 

I think the key factors to address before reapplying are the reasons they gave you for denial.  Given the information they sent you, you may want to address:

 

Too Few Active Accounts - that means Discover would like to see you have a history with other accounts before they open for you

 

Insufficient number of satisfactory open bank revolving accounts - it appears you are an AU on a bank card, but they would like to see you have additional history with bank cards.  I would recommend HSBC or Orchard for building - have you considered app'ing for your own card with them?  Other folks will recommend other building cards - and of course there's the Credit Card Center tab near the top of this page.

 

Too Few Satisfactory Opened Accounts - that means Discover would like more positive open accounts on your credit report before they will open for you.

 

So, rather than focusing on how long you should wait before reapplying, address their concerns.  At this point, all 3 concerns seem to point to opening other accounts - building your credit history - before app'ing with them again.

Hope that's helpful - best wishes!

Just puttin' syrup on something, don't make it pancakes.
Regular Contributor
britishbooklady
Posts: 151
Registered: ‎05-22-2010

Re: Got approved for Walmart...but not Discover

Thanks for replying beamMEup. I appreciate the advice and, honestly, I totally agree with you. I had been up all night when I posted my original post...researching the forums and the credit card center...and apparently wasn't thinking very straight. :smileytongue:  Things have gotten a lot better, though.

 

You see, I had sent in an application for the USAA secured credit card back in September. I was an idiot and didn't bother to send it certified mail (didn't think I'd have to since it was USAA and they had provided the envelope). I had called them at least 3 different times to inquire about the status and they said they hadn't received it yet and to try back a few days later. So, I was getting tired of waiting and decided to see if I could get a credit card through someone else instead.

 

After getting some sleep today, I decided to try faxing the copy of the app I had mailed back in September and then called USAA to make sure they got it. The lady I spoke with said that they had received it and was going over the details with me when I asked her about the possibility of getting my original application for an unsecured card (applied for that back in June) reconsidered since my credit scores had improved a lot since then. She said that they could but that they would have to pull another inquiry. I figured it couldn't hurt much - worse case scenario, I could still open up the secured card. 

 

Well, to make a long story short...she pulled the new report and told me they were able to approve me...with a $3000 CL at 15.9% interest rate! :smileyvery-happy:


Starting Score: EX: 661, EQ: 662, TU: 694 [Lender Pull 12/30/2010]
Current Score: EX: 665, EQ: 680, TU: 710
Goal Score: EX: 750+, EQ: 750+, TU: 750+

Take the FICO Fitness Challenge for 2011

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