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04-09-2009 09:25 AM
During a time when I had a score of 570, capital one was easy enough to get with a $500 limit. And another cap one for another $500 a month after, which I combined.
Is Discover that easy as well? My friend is a student with no credit (but that means no debt also i guess) and he got a $3000 rewards card from them last week!!!
My score is now 602 - do i have a chance? if i do, should I go for discover.com, HSBC Discover, or which one??
04-09-2009 09:30 AM
04-09-2009 09:34 AM
I want to first qualify my statement and say that every one's situation is different. A lot of factors are taken into consideration when a creditor decides to extend you credit like income, employment history, dti ratio, etc. With that said I think the general consensus is that Discover is one of the toughest cards to get. There requirements are less stringent for college students.
My experience is that I was denied with a TU of 691 when I applied right after college. Once my last baddie fell off and my TU score was 721, I was approved for $6,000 (income of $150+). So to answer your question they are generally tough but it is a case by case situation.
Concerning HSBC Discover, they are easier to obtain but it appears that they are harder to grow with you. I hope this helps.
04-09-2009 09:41 AM
If you follow the news, you should know that all credit card lenders and less willing to give new credit. Even to those with stellar scores. But not all hope is lost and you can find some decent deals.
If you are on campus, are there any local credit unions who serve the university? Try them. Also, does your university have university credit card? Usually those are through BofA, Chase, Citi. Finally, try Citi Forward that is designed for studens.
Why is your score so low? Do you have any problems with credit or just lack of it?
04-09-2009 09:41 AM
I don't think age matters in applying for a student card. In fact I know some people who applied for student cards in their 30's even though they are not real students. But on the off chance Discover decides to pull an AMEX and ask for records, make sure you are enrolled in a real college and working towards a real degree.