topic Re: Discover Preapprovals...? in Credit Card Applications

Discover Preapprovals...?

krmurrayjr10 — Sun, 27 Nov 2016 02:48:41 GMT

I have a few questions on Discover's preapproval practices.

When Discover began making credit scores available to anyone, not just Discover cardholders, a little while back, I signed up and check back on it once in a while to see what score the monthly update shows. I suspect that one of the reasons Discover does this is to prescreen potential cardholders. As my score is in the 600s, the page showing my score has always had a little ad at the bottom suggesting I apply for Discover's secured card.

Recently, this ad has changed and now suggests I apply for a Discover IT card, and the secured wording has disappeared. When I read through the fine print, an introductory rate of 0% and a subsequent rate of 23% is listed - no range, just a firm 23%.

Is this a reliable preapproval?

I've checked Discover's Find My Offer site, which I've read is unreliable, and it just returns the full 11-23% range, and I haven't received any mailings from them.

For reference, I have 2 cards from CapOne with $6k credit lines between them, an old (and recently unsecured) card from BoA for $500, a few store cards, and was recently approved by Barclay for $1500. The score is held back by old chargeoffs that have $0 balances, a positive credit history < 2 years, and a handful of inquiries to get the cards I have now and to get the BoA card unsecured.

Re: Discover Preapprovals...?

Anonymous — Sun, 27 Nov 2016 03:39:01 GMT

When there has been a firm APR, with no range, a lot have been reliable preapprovals. I've seen many who have been approved with these stats, including my hubby. I'd definitely apply if that is a card that you've been looking at and wanting. Good luck if you decide to give it a shot!

Re: Discover Preapprovals...?

Anonymous — Sun, 27 Nov 2016 03:45:49 GMT

I hit the find your offer site the other day as looking at soft pulls on Equifax, discover had Soft pulled my DWs report, and not mine.
So I went to the find your offer site, put in her info and it gave a We found a offer for you, something. It listed a specifice APR.
When I tried my info, it said it didn't find a offer, but here's a card you might like and a range of apr.

We haven't pulled the trigger for her yet ad were waiting till the end of december.

I'd guess that since she has a SP, and the discover site gives a specific rate, that she had a good chance.

If they give you a specifice rate, it doesn't mean your approved, just have a better chance.

Re: Discover Preapprovals...?

Anonymous — Mon, 28 Nov 2016 01:01:28 GMT

Did you app? If so, what's the verdict?

Re: Discover Preapprovals...?

Anonymous — Mon, 28 Nov 2016 02:04:40 GMT

I definitely like Cap1's pre-qual page better than Discover's, at least with Cap1 they clearly say, "We didn't find any offers for you, but you might be interested in..." or whatever. Discover's is not clear if you've had no experience with it before.

Re: Discover Preapprovals...?

MakeItAMudLight — Tue, 14 Feb 2017 16:32:41 GMT

Did OP ever app? A co-worker of mine is going through this exact same scenario.

Re: Discover Preapprovals...?

Aduke1122 — Tue, 14 Feb 2017 19:48:38 GMT

My score card is doing the same exact thing now , it had always said Secured up until this mth now it says to apply for the Discover It with a specific APR of 23.00 I think I am gonna pull the trigger this is one of the cards I have been wanting for so so long now!

Re: Discover Preapprovals...?

marcforza1 — Tue, 14 Feb 2017 22:08:58 GMT

I get the same message for the past month " does your credit card give you ever everything you deserve". Shows the Cash Back card (the green one) with 0% for 14 months and a variable 11.49%-23.49% APR every time I do it. Won't do anything until I see a solid APR percentage.

Re: Discover Preapprovals...?

jmr79x — Tue, 14 Feb 2017 22:13:42 GMT

Where exactly on the page are your offers? Just curious as I don't see anything like that on mine.

Re: Discover Preapprovals...?

MakeItAMudLight — Tue, 14 Feb 2017 22:23:42 GMT

So is seeing the 23% a good sign? Other than that's a horrible APR!

Re: Discover Preapprovals...?

austinguy907 — Tue, 14 Feb 2017 23:06:05 GMT

An APR only matters if you carry a balance. Besides that you get 0% for 12-15 months when you open and it's easy to get another 12 months out of them after your intro period is up. The scorecard is just a monthly EX 08 score that AMEX would use but, I've yet to see Disco use it other than for my approval at least. Most see them pulling TU or EQ for some reason. CLI's are mostly based on your TU score that they provide monthly or some claim they use someone else even though the letter they send has the TU information lisred on it.

Some don't like the pre-check form and results from Disco and at some point it might have been bunk but, if you have a solid fixed APR or a slim 3 point range you should be good to go on pulling the trigger. Getting a Disco though is not a decision you'll regret if you like a solid card with some room to grow. e.g Started at $4500 and in under a year and a half up to $48K