topic Re: Discover Approved in Credit Card Approvals

Discover Approved

kshurika — Thu, 25 Jan 2018 23:09:40 GMT

Early this morning, as an afterthought, I posted a question asking forum members to reveal the SLs for their Discover it apps. The response was great and it actually gave me some valuable info before I pulled the trigger and for how I manage the card in the future.

First of all, thanks to all the respondents. Your info was invaluable. I lucked out and, overnight, my EQ went from 740 to 759 and my EX went from 740 to 744 (just as it did the day before I got my 5K CLI on my CFU). I just pulled the trigger a minute ago and got approved for a 6K SL. Based on everything that had been told me, I guessed my SL exactly.

Muchas gracias, Amigos!!!!!

Re: Discover Approved

Anonymous — Thu, 25 Jan 2018 22:54:29 GMT

Congrats on all!

Re: Discover Approved

jlitnns — Thu, 25 Jan 2018 23:17:07 GMT

@kshurika wrote:

Early this morning, as an afterthought, I posted a question asking forum members to reveal the SLs for their Discover it apps. The response was great and it actually gave me some valuable info before I pulled the trigger and for how I manage the card in the future.

First of all, thanks to all the respondents. Your info was invaluable. I lucked out and, overnight, my EQ went from 740 to 759 and my EX went from 740 to 744 (just as it did the day before I got my 5K CLI on my CFU). I just pulled the trigger a minute ago and got approved for a 6K SL. Based on everything that had been told me, I guessed my SL exactly.

Muchas gracias, Amigos!!!!!

That was a great thread to follow and congrats on the new card and nice SL.

Re: Discover Approved

AverageJoesCredit — Fri, 26 Jan 2018 13:25:59 GMT

Congrats i consider anything over 5k sl gravy with Disco

Re: Discover Approved

masscredit — Thu, 01 Feb 2018 01:15:58 GMT

I found this thread after doing a pre-qual on the Discover website. I'm pre-approved for the IT and IT Chrome cards. I read your other thread. It looks like Discover cards can grow pretty quick with SP CLIs. Two questions -

Which CB does Discover pull?

How often can a person try for a CLI?

All of my scores are in the 740s and utilization is in the 15% range (2 cards). I'm hoping for a SL of at least $7500 if I apply.

Re: Discover Approved

joltdude — Thu, 01 Feb 2018 02:23:57 GMT

wrote:
I found this thread after doing a pre-qual on the Discover website. I'm pre-approved for the IT and IT Chrome cards. I read your other thread. It looks like Discover cards can grow pretty quick with SP CLIs. Two questions -

Which CB does Discover pull? Varies..Iv had double pulls and some have had single and no pulls recently

How often can a person try for a CLI? Pretty much weekly if you want. but 31 days between seems to be most reasonable. they are SP ... Id wait 3 mo (91 days, basically a few days after your third statement to see if they auto-luv you), before you start the luv button pushing

All of my scores are in the 740s and utilization is in the 15% range (2 cards). I'm hoping for a SL of at least $7500 if I apply.
Now that I cant answer.. sometimes they lowball, othertime they give it all upfront...
That said... sign up for Credit Scorecard before you submit the preapproval..... They do tend to use the SP from that in the approval decision and it seems to possibly result in one less pull if they decide to do an HP for your account

Re: Discover Approved

kshurika — Thu, 01 Feb 2018 02:20:28 GMT

The only thing I can add about the SL is that one of my scores is 759, one is 744 and the last one (TU) is 691. I got 6K immediately. You might get your 7.5, but, if you don't, I'm sure you'll hit it very fast. The only thing I know about the CB they use is that in my state (CA), they favor EQ. Doctor of Credit has charts of the credit bureaus that each card pulls, listed state-by-state.

Re: Discover Approved

finfree — Thu, 01 Feb 2018 15:32:03 GMT

Wish I’d read your original thread before applying a couple of days ago. Discover pulled EQ, my EQ FICO8 at time of the hp was 843, and my Discover It SL is $12.5k. I have zero lates/baddies, 2% utilization, AAoA of 15+ years (oldest account is 30+ years; newest account is 4+ years), 1 mortgage inquiry and zero CC/other inquiries, income >$150k, own my home, and— if it matters to Discover since they ask about education on the application— multiple post-graduate degrees. I’ve worked for the same employer 7+ years. Should be a CC issuer’s wet dream; Chase approved me for a CSR a few weeks ago with a $34k SL over the phone and invited me to call to increase it when the card physically arrived. Whatever algorithm Discover is using makes little sense, but I’ll hope for future CLIs. Very useful thread- thanks!

Re: Discover Approved

finfree — Thu, 01 Feb 2018 15:49:52 GMT

Want to add that I called Discover to inquire about my SL before reading here about lower Discover SLs. The agent I spoke with provided really silly reasons for my SL such as “your outstanding debt in relation to original balances is too high.” The agent confirmed that this relates to a mortgage I took out 7 years ago. I’ve paid every month on time and with additional principal payments- every single month additional principal. If Discover considers everyone with a 30 year mortgage to have a negative factor they will exclude their most credit-worthy applicants. I understand that my $12.5 SL is good by Discover standards, but this speaks to who Discover is interested in attracting and who they’re not.

Re: Discover Approved

kshurika — Thu, 01 Feb 2018 16:16:56 GMT

Well, I'm relatively new to the credit-seeking game - a little more than two years. But, I've learned that the banks almost challenge you to wring a credit line out of them. The good sides of their mindset are that it forces you first to make sure you don't drop any stitches in the process of improving your credit and, secondly, you have to be very sharp to get what you want from them. In the process of getting my first recent "adult" credit card, I recognized early that I'd been declined, but, in the span of two days was able to talk the CSR into reversing that decision, giving me a junior SL and then having that raised 6X. I also got an accidental lucky break which I jumped on immediately. This challenge and this need for a constantly fluid, evolving strategy, makes this as fun as any hobby I've ever had.

Re: Discover Approved

finfree — Thu, 01 Feb 2018 16:50:47 GMT

Gee, I’ve never had to “wring” a credit line out of any bank issuing any of my CCs- apart from this recent Discover experience, I’ve always had SLs in line with my then-current FICOs etc. I’ve had most of my cards 15+ years so maybe the “rules” have changed. As I mentioned, Chase started me with a $34k SL a couple of weeks ago (not reporting yet) and indicated the SL would be higher but they wanted me to get the physical card in hand first. That was consistent with my credit profile and thus in line with expectations. The $12.5k from Discover is apparently good by Discover standards but not really appropriate if they want to attract FICO high achievers with thick positive files. Clearly that’s not who they’re targeting or want to encourage to apply. I wouldn’t have incurred an hp if I’d known beforehand, which is entirely my fault for not more thoroughly investigating.

Re: Discover Approved

kshurika — Thu, 01 Feb 2018 19:02:06 GMT

I agree, but you have many years in the game and huge numbers, whereas I dumped all my cards about 20 years ago and went cash-and-carry (which I liked, actually). Consequently, I started two years ago in the 580s - which was pretty good because I didn't have a lot of derogs. As a former AU on a Discover, I also agree that it appears to be entry-level, but an easy approval. I wanted it to get a quick boost to my CUR. I think that in your case your Discover CL will go soaring very quickly. I should have said that the need for "wringing" comes in the early going. As your numbers go higher and if you have the income, they hunt you down and try to throw money at you.

Re: Discover Approved

BungalowMo — Thu, 01 Feb 2018 19:28:11 GMT

wrote:
I found this thread after doing a pre-qual on the Discover website. I'm pre-approved for the IT and IT Chrome cards. I read your other thread. It looks like Discover cards can grow pretty quick with SP CLIs. Two questions -

Which CB does Discover pull?

How often can a person try for a CLI?

All of my scores are in the 740s and utilization is in the 15% range (2 cards). I'm hoping for a SL of at least $7500 if I apply.

Discover pulled TU & EX for my loan

Re: Discover Approved

finfree — Thu, 01 Feb 2018 20:29:07 GMT

Kshurika- best of luck as you embark on establishing credit. I agree that cash and carry has great appeal and is much simpler. Your thread has not only allowed me to vent (hey, I’m human) but also warn would-be applicants with good credit profiles to steer away from Discover. Discover’s SLs are all over the map and lacking rhyme or reason; those who might otherwise expect a $20k+ SL based on having a well-aged clean profile will likely be disappointed and may waste a precious hp (I take every hp pretty seriously- I’m not what I call a “credit clown” who apps recklessly, or a drunk/stoned app “dialer”).

Re: Discover Approved

Anonymous — Thu, 01 Feb 2018 20:36:15 GMT

Congrats!!! That's a nice SL!

Re: Discover Approved

JoeLuvsHisCredit — Fri, 02 Feb 2018 00:04:11 GMT

CONGRATS