Denied for a discover yet approved for a morgtage?

[Anonymous]

this happen to a friend does it even make sense?

[Scope27]

Yea it happens alot.  Im in the middle of the mortgage process right now but will not qualify for a premium card because I had a prior deliquency on a credit card.  Most premium cards require no neg history or very little at that.  Did your friend get preapproved or has finished the whole process and now is a homeowner?  Preapproval is the easy part.  Once your file get to underwriting that is when credit history becomes scrutinized and looked at under a microscope.

[Walt_K]

Credit card is not secured.  Mortgage is secured.  And lots of mortgage programs are federally subsidized. 

[Varakai]

Yep, a mortgage is a form of secured credit, much like a secured credit card. A credit card is a form of unsecured credit.