Should I reapply for Discover IT?

Anonymous · ‎08-01-2016

I really wanted the discover IT card as I do a lot of shopping on Amazon and 5% back for half the year is a pretty sweet deal. I applied but was denied. They pulled my TU which had a bogus collection I was disputing and my score was 599. A day after I was denied the collection was removed and my score went up to 651. There is one collection on there for $129 which I'm disputing since what happened was I was being charged for my cable and the neighbors across the street and they apologized and promised to pay me back but never did and then put me in collections.

Should i try again for Discover or just wait since I just got the Journey card?

Anonymous · ‎08-01-2016

i would wait for the dispute to settle first.

Anonymous · ‎08-01-2016

I would wait

creditguy · ‎08-01-2016

Probably be a good idea to wait. You might also consider applying for the Amazon prime store card if your interested in 5% back on Amazon purchases.

nrm · ‎08-02-2016

Your patience will pay back! Be patient!

Anonymous · ‎08-02-2016

And when you say 'they' ...it seems as if you're referring to the company vs your neighbor.

That being the case, it should be rather easy to get that removed from your reports (that's unless you are the neighbor were running the flim flam)
As a matter of fact, you might be able to collect money damages because their negligence caused you harm (credit turn downs, higher fees etc)

Just the mention of applicable law and decent reasoning is enough to get CRs clean, and correct wording may bring about a check for the troubles ( in addition there are lawyers that will chase these violations for a split... just like the injury, ambulance chasers ....they don't charge unless THEY win and split the booty with you)

Either way most ppl just, want they quick 'settlement' they can get on their own...and the offending company generally just wants a dump N run...so they delete, hoping the 'problem' just goes away ( but that's all you really wanted anyway,a delete)

takeshi74 · ‎08-02-2016

@Anonymous wrote:
I really wanted the discover IT card as I do a lot of shopping on Amazon and 5% back for half the year is a pretty sweet deal.

The calendar is not the same every year. If you shop a lot at Amazon then consier the Prime Store Card if you have Prime membership.

@Anonymous wrote:
There is one collection on there for $129 which I'm disputing since what happened was I was being charged for my cable and the neighbors across the street and they apologized and promised to pay me back but never did and then put me in collections.

Should i try again for Discover or just wait since I just got the Journey card?

You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.

Anonymous · ‎08-02-2016

I agree with those who say to wait. When your score is better you will get a higher CLI and a lower APR. You can do it!

Anonymous · ‎08-02-2016

@takeshi74 wrote:

You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.

This is a complete generalization (Mod Cut-nonFSR) It depends on the rest of your profile, not just the major derogs. I have two major derogs on my profile (120 day late and 90 day late on 2 different accounts), both from the last couple of years, and was 4 for 4 on approvals last month for $58,500 in additional credit lines. Why? Because the rest of my profile was excellent. Derogs are significant negatives, no doubt, but they are not the be all end all.

Anonymous · ‎08-02-2016

@Anonymous wrote:
@takeshi74 wrote:

You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.
This is a complete generalization and IMO should be ignored. It depends on the rest of your profile, not just the major derogs. I have two major derogs on my profile (120 day late and 90 day late on 2 different accounts), both from the last couple of years, and was 4 for 4 on approvals last month for $58,500 in additional credit lines. Why? Because the rest of my profile was excellent. Derogs are significant negatives, no doubt, but they are not the be all end all.

That's the real world talking. Excellent answer as each and everyone of us have individual files that vary, even given the norms of approvals.