topic Re: Discover It SECURED - How do I know if I am approved?? in Credit Card Applications

Discover It SECURED - How do I know if I am approved??

Anonymous — Sun, 29 May 2016 01:54:53 GMT

I applied for Discover It Secured and got this message:

Here's what you can expect next:

Two small deposits will be made into your bank account.
We'll make two small deposits of less than $1.00 each into your bank account. These deposits will show up as a "TRIAL CREDIT," and will be immediately reversed from your account.
We'll e-mail you when the deposits have been made.
After 2-3 business days, we'll e-mail you asking you to check your bank account for these deposit amounts.
Come back to verify the deposit amounts.
Check your bank account for the deposit amounts. Then, return to Discover.com/checkstatus to enter the deposit amounts.
Once verified, your application will be processed.
If the amounts entered are correct, we will continue to process your application.

What does this mean??

Re: Discover It SECURED - How do I know if I am approved??

CountryLivin — Sun, 29 May 2016 02:16:14 GMT

They are doing a verification on your checking.......once you do this step, then once the deposit is out of your accouunt, you will get you card shortly after.

Re: Discover It SECURED - How do I know if I am approved??

RonM21 — Sun, 29 May 2016 04:56:10 GMT

@CountryLivin wrote:
They are doing a verification on your checking.......once you do this step, then once the deposit is out of your accouunt, you will get you card shortly after.+

I think this is what is happening also.

Re: Discover It SECURED - How do I know if I am approved??

Anonymous — Mon, 30 May 2016 03:29:01 GMT

I recently applied for the Discover secured and they let me add my deposit right after the application was approved. Then they emailed me that after my deposit is verified ( I deposited 2.5k) they will mail me the card. The whole process took 10 days from start of application till I received my card. My advice to you is to call them as soon as you get the card and ask them to switch your rewards to the 5% cash back revolving categories, cause you have the potential to earn 10% cash back after they match all your rewards for the first year.

Re: Discover It SECURED - How do I know if I am approved??

CostantinoA — Mon, 30 May 2016 04:10:18 GMT

They will let you change the rewards? I have had mine 1 year in a few weeks... I didn't know that!

Re: Discover It SECURED - How do I know if I am approved??

Anonymous — Tue, 31 May 2016 00:48:04 GMT

Yes of course they let you change your rewards. But it's gonna need at least 1 extra billing cycle to switch. So even if you don't get the full match on the 5% for the first year, having it beats the usual 2% that they offer especially if you take advantage of their categories. If you max out these categories you have potential to make at least $300 cash back per year.