topic Re: Discover it® Cash Back Approval. in Credit Card Approvals

Discover it® Cash Back Approval.

Anonymous — Fri, 21 Sep 2018 15:30:33 GMT

Discover pulled from Experian as expected - was a 667 (currently rebuilding from low 400s... it's been a long road.) 2% credit utilization ratio, 30,000 trade line auto loan. I'm thankful I was approved for a card, but they only approved me for a $500 credit line. Seems like a waste of an account.

Re: Discover it® Cash Back Approval.

19eighty5 — Fri, 21 Sep 2018 15:44:25 GMT

Congratulations on your approval! That SL will grow in no time. Also, welcome to the forums!

Re: Discover it® Cash Back Approval.

MrPSS — Fri, 21 Sep 2018 15:44:59 GMT

Congrats on the approval! Seems like Disco's dishing out low SLs lately for mid 600s. There is a ton of info on rapid CLI's with them however! Keep us posted how it grows.

Re: Discover it® Cash Back Approval.

Anonymous — Fri, 21 Sep 2018 15:45:08 GMT

@Anonymous wrote:
Discover ... only approved me for a $500 credit line. Seems like a waste of an account.

I understand the disappointment. However if you read some of the dedicated Discover threads you'll discover (pun intended) $500 today can be 15K tomorrow.

Congrats! on getting approved.

Re: Discover it® Cash Back Approval.

Anonymous — Fri, 21 Sep 2018 15:47:19 GMT

1985, I'm hoping so! I'm above a 650 on all three bureaus with a pretty extensive report (two auto loans, 2 credit cards, personal loan, student loans.) I do have quite a few hard inquiries (around 30 on each report) from auto shopping and refiancing and my DTI ratio's a bit high (35%), but a $500 CL is kind of a smack to the face.

Also, thanks! I've browsed the forum for awhile, but never decided to sign up until just today.

Re: Discover it® Cash Back Approval.

MartyWrite75 — Fri, 21 Sep 2018 15:50:07 GMT

Don't despair. My SL is 900, but I was happy my foot is in the door. Discover can grow rather quickly. Just be patient and enjoy your Disco! Congratulations!

Re: Discover it® Cash Back Approval.

Thatficotho — Fri, 21 Sep 2018 15:57:20 GMT

I. Suddenly greatful for my 2K SL; I’ve read a lot of recent approvals at 500 or 900. I can’t wait for it to grow. I was approved at around 660 with 18% útil.

Re: Discover it® Cash Back Approval.

Anonymous — Fri, 21 Sep 2018 16:31:58 GMT

@Anonymous wrote:
1985, I'm hoping so! I'm above a 650 on all three bureaus with a pretty extensive report (two auto loans, 2 credit cards, personal loan, student loans.) I do have quite a few hard inquiries (around 30 on each report) from auto shopping and refiancing and my DTI ratio's a bit high (35%), but a $500 CL is kind of a smack to the face.

Also, thanks! I've browsed the forum for awhile, but never decided to sign up until just today.

Be grateful that Discover even approved you with your profile. I got my first CLI auto fromt them 4 months after I got the card. It will grow sooner than you expected. Good luck!

Re: Discover it® Cash Back Approval.

SarahJo — Fri, 21 Sep 2018 16:35:00 GMT

Never fear, it will grow! I started at the $500 limit as well just shy of 2 years ago, at $3100 now. Not leaps and bounds, haha, but progress nonetheless ;-) Congrats!!!

Re: Discover it® Cash Back Approval.

Anonymous — Fri, 21 Sep 2018 17:01:39 GMT

I've never considered applying for a Discover card until today - do they have strict criteria? My scores may be on the lower end, but my report definitely isn't bad. Great payment history, low credit utilization, good mix of trade lines.

Re: Discover it® Cash Back Approval.

Thatficotho — Fri, 21 Sep 2018 17:16:19 GMT

Your scores and criteria definitely look good for approval. It seems they aren’t as strict as I thought they were. I’d check if you’re pre approved! And if you are, I’ll send you my invite link so we can both score $50 😁

Re: Discover it® Cash Back Approval.

Cred4All — Fri, 21 Sep 2018 17:35:51 GMT

Congrats on the approval, +10 on everyone's comments.. it will grow faster than you can hold it back. Great addition for you!