Reply
Regular Contributor
javi84
Posts: 171
Registered: ‎05-18-2007
0

I'm getting ready to apply for another Discover card?

I got a Discover card ad in last week's Sunday newspaper that I want to apply for. They give me a bonus $100 cashback when I spend $500 within 3 months of getting the card and 0% interest on balance transfers until May '09. I'm planning on using my "free" money courtesy of the US govt. to upgrade my camera and buy some camping gear, if I use my newly acquired card to make the purchase I save $100. Very good deal if you ask me. I also have a balance on my Visa Amazon card that I would like to transfer. My problem is that I already have a Discover card that I got not too long ago, (sometime last year, I'm still paying 0% interest on purchases and balance transfers).

What are the odds of these guys approving me again? If they decline me, would it sweeten the deal if I promise to close my Visa Amazon card or does that only work with banks and credit unions?

My Equifax score is 663 and I care more about paying less interest on my balances than raising my credit score right now.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
Established Contributor
unknown_entity
Posts: 853
Registered: ‎03-21-2008
0

Re: I'm getting ready to apply for another Discover card?

At 663 you can flip a coin...it's 50/50 with Discover.  If you have a lot of inquiries...your chances lessen.  But since you already have an established account (6 months or more i'm assuming) You may fair better than those odds.  I would apply and submit the BT's and see what they say. 
07/26/2007 TU-688
EQ-656
EX-649
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
0

Re: I'm getting ready to apply for another Discover card?



javi84 wrote:

My Equifax score is 663 and I care more about paying less interest on my balances than raising my credit score right now.


It's better if you know your FICO EX and TU scores...it's unlikely Discover will yank your EQ report.
Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Regular Contributor
javi84
Posts: 171
Registered: ‎05-18-2007
0

Re: I'm getting ready to apply for another Discover card?

So I DO have a chance at getting approved even though I already have a card with them? PS. My TransUnion score is always higher than my Equifax and my Experian is always lower.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
Established Contributor
watchnerd
Posts: 527
Registered: ‎11-29-2007
0

Re: I'm getting ready to apply for another Discover card?

Have you checked to see if you're even eligible for the offer before you apply?

Often those kind of deals are only good for new account holders.
4/25: TU 793, EQ 791, EX ?
Goal: 800s by 12/09
Regular Contributor
javi84
Posts: 171
Registered: ‎05-18-2007
0

Re: I'm getting ready to apply for another Discover card?

Oh well, they declined me. I'm 100% sure the letter I'll get in the mail will say something about me having too much revolving credit. Guess I'll have to take out a personal loan to pay off the CCs and then close them.....I'll probably just keep one though.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}