Frustrated! DISCOVER IT

[Anonymous]

@Anonymous.

If you are under 5/24, then why not consider Chase Freedom.  The 2 times I have applied for the card, they pulled TU one time then EX the next.  Only problem for me is a burned Chase, so I don't think I'll qualify, but you might stand a good chance. 

[Anonymous]

I tried Chase. Now I am getting 7-10 day message, which is supposed to be a decline. Will try to recon once I get the letter.

[Anonymous]

What is your TU score. I got a Barclay Arrival + at 700 Trans Union Fico 8.  They seem to pull TU exclusively. 

[Anonymous]

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@Anonymous wrote:

Discover Secured.  

Up to $2500 deposit and you can increase the deposit over time if you can't max it out.  2% cash back the first year, 4% on certain categories the first year.

I got it with an unpaid tax lien on all 3 reports, did $1000 deposit then upped it to $2500.  I'll be averaging probably $60-$80 a month in cash back plus 100% match at the end of the first year.  Massive rewards freebies.

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Why would anyone with his scores want a secured card?  

[Anonymous]

TU score is 733.  I will consider it, but don't want to do any more pulls for a while.  Score is still coming up, next month will be better as self lender will start reporting.  I should give it a few months to age and then consider applying for more cards.

[Anonymous]

You are correct.  I do not want a secured card.  I don't want to tie up funds, and the APR is usually not the greatest.  I am willing to garden longer and then see where things go.

[joltdude]

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@Anonymous wrote:

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@Anonymous wrote:

Discover Secured.  

Up to $2500 deposit and you can increase the deposit over time if you can't max it out.  2% cash back the first year, 4% on certain categories the first year.

I got it with an unpaid tax lien on all 3 reports, did $1000 deposit then upped it to $2500.  I'll be averaging probably $60-$80 a month in cash back plus 100% match at the end of the first year.  Massive rewards freebies.

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Why would anyone with his scores want a secured card?  

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Because baddies can still scare away a lender even with scores.. Scores arent the ONLY consideration lenders use.. they are the main one but theres other data...

Its often a way to get an "in" with a lender with other products... this only tends to make sense with a secured card that GRADUATES....

Heres the deal with Disco's secured card

1. Same rewards....

2. Not a horrid APR.. but discover can and does entertain APR and CLIs after the first year once its unsecured....

3. Currently no fee.. so why not?  youll have an additional TL for 7 months (maybe more but with your scores i tend to think not)......

4. Most importantly it usually graduates in 7-10mo.. Yes there are folks who have taken longer but tend to think the op will be in the shorter bracket..

And if that tax lien gets removed... youll be 7 months ahead on age of accounts...when it unsecures..

Thats why it still can make sense with higher scores to get a secured card.... let it age... =)

But as the OP said.. its still tying up that security deposit.. but how much really would you get in a savings account for tying it up for 7+ months...

-J

[Anonymous]

Getting Married in Oct.  So I don't want my funds tied up anywhere.  There are always hidden and unexpected costs with a wedding.  So I want to keep the funds available.  Otherwise it makes sense. 

One thing I am curious about is that I do not have any inquiries from Discover on my credit report.  I just ran it from CCT this morning.  I applied for the Discover & Chase last week.  Only the Chase inquiries are on my report.  Go figure. 

I wonder if it has anything to do with Discover Score tracker telling me that I have no score.  They may not be able to verify my identity  for some reason???  I don't understand.