topic Discover IT Question in Credit Card Applications

Discover IT Question

Anonymous — Thu, 19 May 2016 04:21:43 GMT

Chances of me getting an unsecured card are slim to none. Currently my Fico scores are around 570-580. However, I should be in the 643 range in 45 days per FICO. I am going to wait till then to apply. However, I have 15 derogs and one tax lien (not on EX) that will be released by then. My question is - If I apply for the IT card, will they give me the option of a secured card? I'd like to make out the secured card to $2.5K. But would like to try for unsecured if they will give the secured option if denied. Would the do that, or should I just app for the secured card?

Re: Discover IT Question

myjourney — Thu, 19 May 2016 05:46:46 GMT

Everyone who apps for the IT card if denied is not offered the secured so proceed with caution

Something else you should know Fico score simulator is a guess and not the most accurate of where your scores will be by such and such time frame YMMV

So pls don't rely on either

Re: Discover IT Question

Anonymous — Thu, 19 May 2016 06:59:16 GMT

Do not rely on the simulator. It can have some super crazy results, lol.

Re: Discover IT Question

CountryLivin — Thu, 19 May 2016 09:05:58 GMT

Don't rely on the simulator....it's not always accurate! Discover didn't use to offer it to everybody....they take quite a few things into account. I would wait awhile until all the baddies drop off and get those scores up some.

Re: Discover IT Question

Anonymous — Thu, 19 May 2016 18:20:23 GMT

I applied through discover for the discover it card and got a counter of using the secured card with scores around the same ($200 starting deposit) but YMMV

Re: Discover IT Question

Anonymous — Fri, 20 May 2016 01:03:09 GMT

It might be a better idea just to apply for the Discover secured card directly.

Re: Discover IT Question

RonM21 — Fri, 20 May 2016 03:40:26 GMT

I agree. With those scores, the secured may be more in line with where you are right now and a better chance at approval

Re: Discover IT Question

Anonymous — Fri, 20 May 2016 03:49:12 GMT

My scores were in the low 600's when I applied in July 2015 and they denied my application and did not offer a secured card. I applied in February 2016 and was approved for a CL of 1.6k but did not qualify for the 0% APR for 12 months promo. I wasn't too bummed out since I PIF each month but looking back - I wished I had waited until my scores improved before applying. Now my scores are much higher so I probably would have qualified for the 0% APR and would have received a higher CL.

Just my two cents.

Re: Discover IT Question

Anonymous — Fri, 20 May 2016 10:27:28 GMT

Do they use FAKO or FICO?

Re: Discover IT Question

Anonymous — Fri, 20 May 2016 16:51:57 GMT

Discover uses FICO. I don't know of any lenders that use FAKO scores, just different versions and variations of FICO like FICO auto, FICO bankcard, etc.