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I want a real Discover

Senior Contributor

I want a real Discover

So I have the WMT Discover w a $5k limit, but I want a Motiva Discover.... My current FiCO is about 650. Only negative is a fraud account, which is medical and in dispute. My overall util is like 10-15%. only one credit
account is close to the limit, which is Amex
(4,800/6,500). My inquiries for the past six
months vary from 1-4, depending on which report. I suppose that I don't need a new Discover, BUT I would like to have one:-). Plus, one of my besties just got one, and I have a higher income than her and have a higher score!!
Is Discover loosening the purse strings any?

I need advice!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 1 of 8
7 REPLIES
Valued Member

Re: I want a real Discover

I opened a discover last january (actual discover, not a merchant-issued card).  My score were in low to mid 600s (experian was 590), a few old bad collections and late payments, 1 CO from 5 years ago for $125.  My first mortgage (from July 2011) had JUST started reporting.  I think mine is a discover more, but they told me all the underwriting is the same whether more, motiva, open road, etc.

 

I was given a $1,000 CL, spending over $3,000 per month on the car (which led to payments about every 4-5 days, I was using this card for all my regular puchases:  gas, groceries, utility bills, shopping, etc).

 

After 6 months of that they upped me to $4,000.  Between now and then my scores are in mid - high 600s, and about 30 minutes ago they upped my credit limit (at my request) to $7,500 (my monthly spend last 2 months has been in excess of $5,000).

 

 

 

My advice would be that if you spend, payoff, spend, payoff, spend, payoff multiple times in a month they will be much more accomodating to offer you a CLI in 6-9 months.

 

My scores today:

 

EQ Fico: 695

TU Fico:  654

EX Plus:  680

 

And I had 2 sears cards I used to purchase appliances earlier this year for my house, $5,500 at 90% utilization and $2,950 at 75% utilization, and currently have a balance of $3,500 on the discover.

 

But with my scores and payment history they upped my CL by 88% based on my monthly spend and payments per month.

 

I'm guessing they are more driven by transaction fees than interest, so if you put your focus there it should help you.

 

Message 2 of 8
Contributor

Re: I want a real Discover

 What is your AAOA? What else is in your file, in regards to open credit lines?

*USAA WORLD MC 18k* *USAA VISA 12k* *AMEX BCE 10k* *DISCOVER IT 15k* *AMEX ZYNC* *B of A SIGNATURE CASH 15k* *NAVY FEDERAL PLATINUM 20k* *CITI DOUBLE CASH 15k* *Veridian CU 14k* *Barclays Apple 12.5k*

Message 3 of 8
Valued Member

Re: I want a real Discover

AAOA is 7 years, somehow i got put in as AU on my dad's AMex when I was born, so the numbers are skewed.

 

My oldest revolving acct is Sears, $2950 CL, opened 1998.  Have a JCP with $2500 limit same age, a Sears + with $5500 opened in Feb, a Kohls with a $1500 CL opened in 2011, and an old chase acct I am paying off (its closed).

 

Also have $45K in student loans been making ontime payments since graduation (3+ years), Mortgage is now 13 months old with perfect payment history, and I bought a new car in late 2009 (refinanced in mid 2010), with a previous car on my report paid off back in 2005.

Message 4 of 8
Frequent Contributor

Re: I want a real Discover

Assuiming your Util% isn't too high, I don't think you would have a problem getting approved for a Discover!

Message 5 of 8
Frequent Contributor

Re: I want a real Discover

I got in originally with a 650ish score with my More, but its a coin toss at best with that kind of score. Good luck

Message 6 of 8
Senior Contributor

Re: I want a real Discover

Yeah, my overal util is like 10%. I have about $70,000 in total credit lines. I have about $36.5k in student loans, which are deferred atm. I also have on paid CO from like '07, which was an account my dumb mom opened when I wasn't even 18:-/.... Hmmm... My aaoa is like 2.5 years per CK. My avg credit line is about $4,700. I'm a little scared that Discover would give me a low limit...
I suppose having a mortgage would improve my credit, but at 23, I'm not ready to buy a home lol!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 7 of 8
Senior Contributor

Re: I want a real Discover

That's what I was thinking AF. Anyone know if Discover is good w recons?
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 8 of 8