topic Re: Discover Approval in Credit Card Applications

Discover Pre Approval

Anonymous — Sat, 09 Jan 2021 00:50:35 GMT

Looking for some advice as to whether I should apply for the Discover Cash Back card. I was pre-approved this morning after filing out the required info. I was pre-approved for 3 of their cards, but the Cash Back being the best one IMO because of the 5% cash back. I'd like to add another revolver to thicken my file and to have more accounts reporting on time payments and low utilization. Been rebuilding for 4 months and managed to increase all my FICO scores over 100 points so far. Goal was to get my mortgage scores at 680 plus for a home purchase in 2022, and have exceeded my Mortage Score goals. I'd like them higher, which is why I'm looking at another CC to help until mid 2022 comes.

Currently I have 2 revolvers.

Cap One Platinum $300 CL

Synchrony Car Care $1,000 CL

I'm also an AU on 2 cards.

TD Target Redcard $8,600 CL

CITI MasterCard $4,600 CL

Also have 2 installments.

Toyoyta Financial $13,451

Local Credit Union Perosnal Loan $16,600

All accounts are paid on time.

FICO 8 Scores

TU8-675

EX8 -665

EQ8-659

Inquiries

TU-5

EX-3

EQ-2

AAoA - 6 years 6 months

Thanks in advance for any input.

Re: Discover Pre Approval

Anonymous — Fri, 08 Jan 2021 22:30:33 GMT

@Anonymous JMHO, I think you should go for it so you can have 3 revolvers under your own name. The rotating 5% categories along with the 1st year cashback match makes the Discover card very tempting.

I think they usually pull Experian.

You may want to look into the AZEO method as mortgage time approaches as its supposed to be good for your mortgage scores.

On a side note, be sure to search for the Cap1 upgrade link on here to check if your Platinum is eligible to be PC'd.

Looking forward to the other suggestions.

Re: Discover Pre Approval

Anonymous — Fri, 08 Jan 2021 22:34:36 GMT

@Anonymous

I've literally been staring at the application all day contemplating on wether to do it or not haha. Idk why but it's stressing me out! I really want another to beef up my profile but the thought of rejection is killing me! I have a solid 105k yearly income and took care of my baddies. Idk just hate to throw an inquiry in the trash.

My cap one is fairly new. I opened it on Oct when I had most of my baddies removed. I was at under 600 FICO then. Lots has changed since then thouch. I doubt I would PC because it's fairly new.

Re: Discover Pre Approval

Anonymous — Fri, 08 Jan 2021 22:56:05 GMT

@Anonymous

I said F it and ran the app and got approved. Phew! Weird thing is it won't tell me my credit line. It says congrats and that I got approved and what not, but when I click on "view credit line" it says they'll have a decion in 5-7 days. That is odd and now I'm worried 🤦🏻‍♂️

Re: Discover Pre Approval

Anonymous — Fri, 08 Jan 2021 23:10:17 GMT

@Anonymous wrote:
@Anonymous

I've literally been staring at the application all day contemplating on wether to do it or not haha. Idk why but it's stressing me out! I really want another to beef up my profile but the thought of rejection is killing me! I have a solid 105k yearly income and took care of my baddies. Idk just hate to throw an inquiry in the trash.

My cap one is fairly new. I opened it on Oct when I had most of my baddies removed. I was at under 600 FICO then. Lots has changed since then thouch. I doubt I would PC because it's fairly new.

@Anonymous I believe you can PC the Platinum after 3 months. Definitely try the upgrade link.

Also, we have all been there lol. It's sometimes so tempting to app, even if you know you shouldn't. I have my wishlist of cards, and thanks to this forum I'm constantly adding cards to it.

Since you got the preapproval, I think you have a great shot at getting it. Discover has a reliable prequal site.

Edited to add: Congrats on the approval! I can't speak to the lack of SL and Apr. Maybe they will email it to you. I wouldn't worry about it though. You should be good!

Re: Discover Pre Approval

Anonymous — Fri, 08 Jan 2021 23:14:23 GMT

@Anonymous

Well I got pre approved and was hesitant to submit the actual application, but I went ahead and submitted it right after you told me to because I needed someone to push me to that point lol. So once I submitted the actual application it says I got approved and that I needed to click this link to view my credit line. So I clicked on the link and then it stated I will receive more information within 5-7 days. That caught me off guard because it said I was already approved approved. So I called Discover and they said I was apparently the lucky winner and got selected for a manual review 🤦🏻‍♂️😞 but they said I was approved for a CL of $3,500 and that they just needed a panel review because they apparently do panel reviews at random. So I have to call back in a few days for a decision. This sucks. The lady did say I was basically already approved, but they needed to review it. Idk just caught me off guard because it legit said I was already approved. Makes no sense. With my luck, they'll find a reason to deny me. **bleep** it.

Re: Discover Pre Approval

Anonymous — Fri, 08 Jan 2021 23:34:46 GMT

@Anonymous "Well I got pre approved and was hesitant to submit the actual application, but I went ahead and submitted it right after you told me to because I needed someone to push me to that point lol" 🤣 you got me lol.

Now regarding the rest of your post, I have not heard of a "panel review" with new Discover accounts. So either it is super rare or we just don't get much dps on this here. I still think you stand a fair shot at approval considering you were pre-approved and basically conditionally approved when you finally apped.

Worst case you can recon.

Re: Discover Pre Approval

Anonymous — Sat, 09 Jan 2021 00:00:36 GMT

@Anonymous

Yea I'm not sure. I was legit excited cus it said I was approved and all. Come to find out it's under this panel review which is the term the rep used. I asked why a review, and she said because random applications get submitted for review. Idk how much of that is true but I'll have to take her word for it. As if I didn't have enough anxiety applying in the first place, now I apply, get approved and then have to wait for this review even though it legit said I was already approved.

Discover Approval

Anonymous — Sat, 09 Jan 2021 18:56:47 GMT

Has anyone ever applied for the Discover Cash Back card and was told it was approved, but then when you check for the credit line it says that they're still reviewing it?

I was already concerned about applying for it in the first place but went ahead and pulled the trigger yesterday and it legit said "congrats you're approved" but when I clicked on "view credit line" after being approved it said it was under review. I called and asked what was up and they said I was approved for $3,500 but awaiting review. Doesn't really make sense to me that they're telling me I was approved but it's still under review.

Curious if anyone else had this happen to them?

Re: Discover Approval

AllZero — Sat, 09 Jan 2021 19:02:26 GMT

Congratulations on your approval!

Re: Discover Approval

Anonymous — Sat, 09 Jan 2021 19:03:56 GMT

@AllZero

Thank you! But it apparently isn't approved just yet lol. Idk just doesn't make sense.

Re: Discover Approval

blindambition — Sat, 09 Jan 2021 20:54:48 GMT

Congrats on the approval!!! Disco being Disco!!! Hopefully only waiting for manual review, and not going to ask for 4506T or bank statements.

Re: Discover Approval

Anonymous — Sat, 09 Jan 2021 20:57:43 GMT

@blindambition

thank you!

I don't mind proving income. I was just wondering why be told it was legit approved by reps and then be told it's in review afterward.

edited to add: also don't mind sending bank statements. I'd actually encourage they do ask so I can send it and maybe they'll give me a much higher credit line lol

Re: Discover Approval

mgood — Sun, 10 Jan 2021 23:14:12 GMT

Congratulations!

IMO, everyone who can should get a Discover it Cash Back for the 5% bonus categories. There's just no down side. And since they double it the first year, you effectively get 10% on the bonus categories and 2% on everything else.

When you can, you want to upgrade that Platinum to a Quicksilver to get 1.5% back on everything you buy with it.

I just did both of those things last month, got the Disco and upgraded Platinum to QS. I consider them both to be things I should have done long ago. I may not use the QS much now that I'm getting better reward cards, but I'll use it a little to keep an old account alive and might as well get a little reward when I do.

I feel you on the review. I recently got approved for a PenFed Platinum Rewards. I was "conditionally approved," but they wanted me to send copies of my last two pay stubs. Then it was "almost done," then "complete." Then it went backwards to "almost done." But I've gotten a couple of emails and a snail-mail stating that I am approved, while it still says "almost done" on the website. They've had computer issues lately so I'm just waiting to see if a card shows up in the mail or if it's stuck in the computer, or if someone really is reviewing it further. It is showing up on the "My Accounts" page on their site as an actual account.

Re: Discover Approval

2ski — Tue, 02 Feb 2021 19:01:39 GMT

@Anonymous wrote:
@blindambition

thank you!

I don't mind proving income. I was just wondering why be told it was legit approved by reps and then be told it's in review afterward.

edited to add: also don't mind sending bank statements. I'd actually encourage they do ask so I can send it and maybe they'll give me a much higher credit line lol

Congradulations! on the approval. Did you end up getting the 3500 SL?