topic Re: What are my approval odds? in Credit Card Applications

What are my approval odds?

Anonymous — Sun, 05 Feb 2017 02:55:49 GMT

Credit Card application for Discover It for Students. Really want to take advantage of those 5% rotating categories.

Credit score according to CreditKarma: 709

Credit history: 6 months

On-time payment: 100%

Derogatory remarks: 0

Number of open accounts: 1

Numner of hard inquiries: 4 (a lot, I know)

Income: $3k/year––full-time student at the moment.

What are my chances?

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 03:00:56 GMT

Welcome to the board. 3K a year will likely do you in.. What is the credit card you have and do you have scholarships?

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 03:02:00 GMT

Just beacuse of the fact that the card is offered just for students and the fact that you have a decent credit score, I would say that your odds are on the high side. How high...can't answer that. Good luck though!!

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 03:12:39 GMT

@Anonymous wrote:
Credit Card application for Discover It for Students. Really want to take advantage of those 5% rotating categories.
Credit score according to CreditKarma: 709

Credit history: 6 months
On-time payment: 100%
Derogatory remarks: 0
Number of open accounts: 1
Numner of hard inquiries: 4 (a lot, I know)

Income: $3k/year––full-time student at the moment.

What are my chances?

Slim to none.

And forget CreditKarma when it comes to scores.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 03:18:28 GMT

Why do you say slim to none?

I feel like the Discover Student card is for college students with a very thin file/no credit history, but if you advise me to wait, I will certainly do so. I went to the Discover "find my offer" page and it pulled up the discover it chrome for student card, if that adds any insight.

My current card is the Amex Schwab credit card.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 03:20:18 GMT

@Anonymous wrote:
Why do you say slim to none?

I feel like the Discover Student card is for college students with a very thin file/no credit history, but if you advise me to wait, I will certainly do so.

My current card is the Amex Schwab credit card.

Didn't mean to sound sarcastic, I dropped my Coca-Cola all over my desk and had to answer quick.

4 inquiries is nothing. Don't worry about inquiries. If your gut is telling you to go for it, do it.

Inquiries are a short term, and there is no way to avoid them.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 03:23:33 GMT

@Anonymous wrote:
@Anonymous wrote:
Credit Card application for Discover It for Students. Really want to take advantage of those 5% rotating categories.
Credit score according to CreditKarma: 709

Credit history: 6 months
On-time payment: 100%
Derogatory remarks: 0
Number of open accounts: 1
Numner of hard inquiries: 4 (a lot, I know)

Income: $3k/year––full-time student at the moment.

What are my chances?

Slim to none.

And forget CreditKarma when it comes to scores.

You should find out what your FICO scores are.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 04:03:15 GMT

@Anonymous wrote:
Why do you say slim to none?

I feel like the Discover Student card is for college students with a very thin file/no credit history, but if you advise me to wait, I will certainly do so. I went to the Discover "find my offer" page and it pulled up the discover it chrome for student card, if that adds any insight.

My current card is the Amex Schwab credit card.

Did you have the same income when you got that card? If so, I would say you have a chance.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 04:07:32 GMT

Update: I found my official FICO score through Experian: 712.

I applied. Next screen asked for proof of enrollment, so I submitted a copy of my official transcript. Got this message: "Please allow 5-7 business days to process your application. We'll call if we have any questions."

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 06:19:19 GMT

I received that message the second time applied. I started a chat session and was approved during chat. Good luck!

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 08:22:44 GMT

Donny - Regardless of FICO score (especially considering it takes 6 months to get one and his file is only 6 months old) Discover salivates over new files, they love them. If you have no credit and are a student with at least 1k income you're golden for Discover Student Card.

OP - My friend just app'd got the same message went on live chat and asked if they could review the documents and they did right then. Came back a few mins later approved for $500 starting limit Card would arrive in 3-5 days. I would recommend doing the live chat.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 13:50:59 GMT

@Anonymous wrote:
Donny - Regardless of FICO score (especially considering it takes 6 months to get one and his file is only 6 months old) Discover salivates over new files, they love them. If you have no credit and are a student with at least 1k income you're golden for Discover Student Card.

OP - My friend just app'd got the same message went on live chat and asked if they could review the documents and they did right then. Came back a few mins later approved for $500 starting limit Card would arrive in 3-5 days. I would recommend doing the live chat.

Good data points- thank you.

Re: What are my approval odds?

Anonymous — Sun, 05 Feb 2017 14:14:32 GMT

But for every other card you are right always get your FICO score Credit Karma is great for getting updated information on your credit report (changes, collections, etc.) and their scoring gives you a ballpark estimate of where you're at but only maybe 1 in 100 creditors use that scoring model. Discover coincidentally does actually have something that will give you your FICO score for free on creditscorecard.com and that will tell you where you stand if applying for any other cards in the future.

Re: What are my approval odds?

Anonymous — Mon, 06 Feb 2017 16:41:00 GMT

Approved!!

Looks like the enrollement verification was the only thing holding it up, as by being a student you can get $20/year for having good grades.

I like this student card since the rewards are decent (5% rotating capped $1,500, 1% all else).

Re: What are my approval odds?

CreditInspired — Mon, 06 Feb 2017 16:56:46 GMT

Congratulations golfcash. Well done!

Re: What are my approval odds?

DotaK — Mon, 06 Feb 2017 17:55:02 GMT

You have highly chance to get Discover and BOA students credit cards , I would say you would have 75% to get those card! Give it a try , dont be shy

Re: What are my approval odds?

My_Fako — Mon, 06 Feb 2017 22:16:24 GMT

Put a 0 behind that 3 and you'll be OK. Typos happen all the time (;

Re: What are my approval odds?

Anonymous — Wed, 08 Feb 2017 03:53:57 GMT

Yay!! I was hoping you got approved. Congrats!!