Recent app spree: instant denial, 10 days, instant approval...

[Anonymous]

So, I decided to broaden my very limited credit porfolio, and I can't say I'm not a bit surprised.

I currently only have 1 credit card (only card I've ever had) with Discover (More card with $1k limit).  I've never been late, paid in full, and had 1% util.  I applied for the Discover it card.  I know I could just PC my current More card, but I wanted a new account number anyways, and I was planning on just closing the More if approved.  I also applied for the AMEX BCE and Chase Freedom.  My short credit history is what is/will kill me, so I knew that going into this, but I still wanted those cards and didn't want to settle for lower ones.

At the time of applying, I had 1% util , no baddies, and no inquiries on any of my reports.  I'm a full-time student and have an income of about $20k a year.  EQ had me at 754 and TU at 770 (doesn't mean too much with my short history though).

Discover it - instant denial (you would think after running quite a bit through them and never being late they'd approve me, even if it was a low limit).

AMEX BCE - 7 to 10 day wait message

Chase Freedom - instant approval (surprised me actually)

My questions are this, is it worth calling Discover to see if they'd be willing to do anything, especially since I would close my existing account if they approved the new card, or is an instant denial basically the end with them?  I suppose I can still PC my existing More card, but I did want a new account without having to go the lost/stolen route (personal reasons).

The AMEX BCE I'm thinking I'll just have to wait as from what I've read, it doesn't really seem like they recon or speed the process up much if you call, but definitely correct me if I'm wrong.

For the Chase Freedom, I'm thinking I should be able to call and find out my limit, or is there a way to do that online as well?

Thanks in advance for any input/feedback!

EDIT:  Just called the automated Chase number and found out I was approved for a $3500 limit. I've only ever had the $1k with Discover, so this is definitely a nice surprise.  Apparently Discover is really that stingy with limits, because they won't give me a CLI and instant denied me on a second card.

[rudy0720]

PC the More to IT which is what I did. Discover will not allow 2 cards at same time. One per customer

[maiden_girl]

For Discover...you can call and recon at this line. Discover: 888-676-3695 (Recon). They are usually good about recons.

To find out your CL with Chase...you can call the auto number Chase: 800-436-7927 (App status - automated). It will tell you te CL and the APR you were approved for.

Good luck with Discover.

[jsickz32]

Congrats on the freedom! Lets us know your cl

[Anonymous]

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@rudy0720 wrote:

PC the More to IT which is what I did. Discover will not allow 2 cards at same time. One per customer

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They do allow 2 cards per member, it's actually their maximum they allow.  I've confirmed that with several reps, and even on their website before I applied it said, "[NAME], you can change the rewards program on your existing card, or go ahead and apply for a second card."

And I edited the OP, but I got a $3500 limit.  I'm so happy right now.  I suppose I'll try my luck calling Discover first and then PC if all else fails.

[jsickz32]

Awsome cl! Congrats

[CreditWorld2013]

Okay, I honestly think you should just PC the More to IT. The main point of getting more credit accounts is so it shows responsibllity with numerous accounts but if you apply for a card you can get without a new account showing up it wouldn't hurt your Age of Acounts. In other words, Closing the More for the IT isn't worth it as it would still show 1 revolving account. The idea is to get a few different accounts/lenders. If you bank with Chase the nnew account may be there when you login. If you don't bank with Chase or you don't see the account on login I would definitely call the automated line to find out the info. I would also check the AMEX app status page to see the status. 

[adavis425]

Have you checked the AMEX status site? Quite often when you get that message, you are already approved. Worth a look.

It's here: https://www262.americanexpress.com/eaol/welcome.do. Good luck!

[tennisfan78]

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@CC365 wrote:

Okay, I honestly think you should just PC the More to IT. The main point of getting more credit accounts is so it shows responsibllity with numerous accounts but if you apply for a card you can get without a new account showing up it wouldn't hurt your Age of Acounts. In other words, Closing the More for the IT isn't worth it as it would still show 1 revolving account. The idea is to get a few different accounts/lenders. If you bank with Chase the nnew account may be there when you login. If you don't bank with Chase or you don't see the account on login I would definitely call the automated line to find out the info. I would also check the AMEX app status page to see the status. 

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I also think that you should PC to IT. In that way you will not lose the good history you had with them over the past year and will not lower the average age of accounts.

[maiden_girl]

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@tennisfan78 wrote:

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@CC365 wrote:

Okay, I honestly think you should just PC the More to IT. The main point of getting more credit accounts is so it shows responsibllity with numerous accounts but if you apply for a card you can get without a new account showing up it wouldn't hurt your Age of Acounts. In other words, Closing the More for the IT isn't worth it as it would still show 1 revolving account. The idea is to get a few different accounts/lenders. If you bank with Chase the nnew account may be there when you login. If you don't bank with Chase or you don't see the account on login I would definitely call the automated line to find out the info. I would also check the AMEX app status page to see the status. 

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I also think that you should PC to IT. In that way you will not lose the good history you had with them over the past year and will not lower the average age of accounts.

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I do wonder that since the OP has an exisiting Discover card...did app'ing for the IT result in a HP? I would look into that. It could be that Discover realized you had an account with them already and knocked your app out of the system.