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Established Contributor
Posts: 858
Registered: ‎06-26-2007
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Is Discover a Good Card to Have?

Is this a good card?
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: Is Discover a Good Card to Have?



myhearts07 wrote:
Is this a good card?


For rewards yes! Getting approved is not easy though.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, 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: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Established Contributor
Posts: 858
Registered: ‎06-26-2007
0

Re: Is Discover a Good Card to Have?

what kind of fico score do you need?
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: Is Discover a Good Card to Have?



myhearts07 wrote:
what kind of fico score do you need?



Probably over 710 and they seem to want more than just a very good score. Absolutely no BKs, maybe a derog if it's very old, and a solid CC history of at least 2 years on your CRs. Of all the CCCs, I think they are the most difficult to get an approval with. It's no wonder we see so little Discovercard threads and posts at this forum cuz most of us are repairing our credit and would get an instant denial.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, 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: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Frequent Contributor
Posts: 342
Registered: ‎06-16-2007
0

Re: Is Discover a Good Card to Have?

I just got approved last week with an EX pull where my FICO was 701 and I have a very very bad derog on the CR. The derog was an auto loan with 19 30 day lates and 6 60 days late and 2 90 days late, it was closed 9 months ago after being paid off. Not a single late on any CCs on my CR.

The card is the Discover Open Roads and they gave me a 5K CL. As I have seen people with much better CRs get denied I've decided that Discover is absolutely a flip of the coin - Heads your in, Tails... Well better luck next time.

Good to have? There are other easier to get cards that are more widely accepted and you may be able to get better terms. I'm still scratching my head on the approval - It turns out that this is my 2nd best APR.
New Member
Posts: 6
Registered: ‎03-29-2007
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Re: Is Discover a Good Card to Have?

Second best? It is, by far, my worst. My score is high and my discover is still at 19% ... every other card I have is at 10% or less.  Discover has, since I got it in 1994, been ranked high in interest rates -- they have GREAT short term or lead in rates which then jack up.
 
--
Equifax FICO: 780 (1/8/08)

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Contributor
Posts: 89
Registered: ‎06-09-2007
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Re: Is Discover a Good Card to Have?



myhearts07 wrote:
Is this a good card?


NO!  Hard to get, hard to use, low credit lines, hard to get CLI's, no e-billing, changes terms, constantly changing rewards program, very limited rewards on gas card.  Need I say more?
 
After one year and a half, three CLI requests and a hard pull "Congratulations, you've been approved for a CLI of $100!" Pathetic!
 
Chase gave me a CL of $30K, Citi $25K, AMEX $25K/opened new Business Acct today $10K, LAFCU $15K, DFCU $15K,   Discover $6.5K!  (by the way, I've never been late with them ever)
 

 
Frequent Contributor
Posts: 489
Registered: ‎05-23-2007
0

Re: Is Discover a Good Card to Have?

Dont bother with Discover at all. Get your TU score over 600 and apply for one of the Juniper Bank cards.
Frequent Contributor
Posts: 342
Registered: ‎06-16-2007
0

Re: Is Discover a Good Card to Have?

Juniper? At least recommend another prime lender! I canceled 2 Juniper cards right after I got them. Puny 1K limits and 22% APR?!

Juniper isn't even close to being in the same class as Discover! Juniper is good for a starter card.
Contributor
Posts: 89
Registered: ‎06-09-2007
0

Re: Is Discover a Good Card to Have?

Juniper slash my cl in half from $2.2 to $$1.1K just because I became a joint on my father's card that had an $8K balance.  Had never been late with them.  Called them up, closed the account and sent them payment in full. HSBC once sent me a preapprove offer.  I applied on the phone and they approved me for a colosal cl of (drumroll please)...$300.  I told the csr that I get pd that I make more than that in a day.  I cancelled my acct right with the same csr.
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