topic Re: Discover Preapproval? in Credit Card Applications

Discover Preapproval?

YoungMoney06 — Thu, 29 Sep 2022 02:30:47 GMT

Some years ago, I defaulted on a Discover credit card due to unforeseen circumstances. This account is still on my credit report, crossing almost seven years.

Just to see what would happen, I used Discovers preapproval page and got an preapproval for a Discover card.

Has anyone else experienced this? What's the chances the preapproval holds up, even with the bad Discover account on my report?

Re: Discover Preapproval?

GZG — Thu, 29 Sep 2022 03:38:46 GMT

did you pay them back in full?

I didn't get a prequal until I PIF'd them and it came off of my reports

Don't know any DPs of how reliable discover prequals are on shakier/bad history w/discover profiles

Re: Discover Preapproval?

bigseegar — Thu, 29 Sep 2022 13:33:30 GMT

@YoungMoney06 wrote:
Some years ago, I defaulted on a Discover credit card due to unforeseen circumstances. This account is still on my credit report, crossing almost seven years.

Just to see what would happen, I used Discovers preapproval page and got an preapproval for a Discover card.

Has anyone else experienced this? What's the chances the preapproval holds up, even with the bad Discover account on my report?

Even with a Pre-Approval as has happened to others I think when they see you owe them money it would be denied.

Re: Discover Preapproval?

OmarGB9 — Thu, 29 Sep 2022 14:04:44 GMT

I think it could go either way. Some people have reported being able to get back in without paying them back, others say they haven't until they did pay them back or they waited years before trying again.

Re: Discover Preapproval?

SDMarik — Thu, 29 Sep 2022 16:01:49 GMT

Disco can have a pretty long memory, if you burning them is enough to keep them from issuing you a card it probably doesn't matter if it's on your credit report or not. Depending on how much you burned them for, if it's really worth it to get back in with them you would probably be safer making them whole first.

However, if you really can't wait (or don't want to) and feel like spending a HP on an app for science, the data point would be interesting.

Edit: What card was it, was it a regular card or a secured card? If it's the latter, you have a much higher chance of having it go through.

Re: Discover Preapproval?

YoungMoney06 — Fri, 30 Sep 2022 16:57:43 GMT

@SDMarik wrote:
Disco can have a pretty long memory, if you burning them is enough to keep them from issuing you a card it probably doesn't matter if it's on your credit report or not. Depending on how much you burned them for, if it's really worth it to get back in with them you would probably be safer making them whole first.

However, if you really can't wait (or don't want to) and feel like spending a HP on an app for science, the data point would be interesting.

Edit: What card was it, was it a regular card or a secured card? If it's the latter, you have a much higher chance of having it go through.

It was actually for three of their regular cards, no secured cards. I only had a CL of about $2000 and that's what was owed to them. Curious if the fact it was such a small balance has an impact. I still am not sure if I want to spend the HP. I liked Discover, but have a few other options right now.

If I do, I'll report back the DP.

Re: Discover Preapproval?

OmarGB9 — Fri, 30 Sep 2022 18:41:46 GMT

Please do let us know the results if you apply.

Re: Discover Preapproval?

Mdowning30 — Mon, 03 Oct 2022 11:52:09 GMT

I've heard they're picky when it comes to showing any pre approvals so if they are showing you anything is a good sign, plus they are SOLID. I was pre approved for the Chrome card SL $2000 w/fixed APR.

Re: Discover Preapproval?

GZG — Mon, 03 Oct 2022 19:02:24 GMT

@Mdowning30 wrote:
I've heard they're picky when it comes to showing any pre approvals so if they are showing you anything is a good sign, plus they are SOLID. I was pre approved for the Chrome card SL $2000 w/fixed APR.

did they give you the pre approval amount on the prequal or in a mailer? or the prequal just had the fixed APR?

Re: Discover Preapproval?

northway — Sat, 07 Jan 2023 04:49:07 GMT

I know I'm digging this back up, but just as a DP, I currently owe Discover $9K that was charged off in 2018. Managed to get it dropped from my reports and the Discover app still shows an account that has a "Special Condition. Please call us for more info".

My credit score is in the mid 700s now, so I decided to try the pre-qual for fun. Every time I tried up until the day the account dropped off of my credit reports, I received a "Status of Existing/Prior Account" denial. This time I was pre-qualified so I decided to go for it.

Application went pending, Discover asked for a 4506-C. Took about 2 weeks, and after a final validation call with the Fraud department, I was approved for a new Discover It with a $7k limit. The account shows up immediately below the one that says "Special Condition.", which is kind of hilarious, but I will attempt to settle at some point since they let me back in.

My inquiries and newly opened accounts are through the roof on top of things, so I'm not sure if I'm just a weird outlier DP.

Re: Discover Preapproval?

FireMedic1 — Sun, 08 Jan 2023 00:10:26 GMT

@northway wrote:
I know I'm digging this back up, but just as a DP, I currently owe Discover $9K that was charged off in 2018. Managed to get it dropped from my reports and the Discover app still shows an account that has a "Special Condition. Please call us for more info".

My credit score is in the mid 700s now, so I decided to try the pre-qual for fun. Every time I tried up until the day the account dropped off of my credit reports, I received a "Status of Existing/Prior Account" denial. This time I was pre-qualified so I decided to go for it.

Application went pending, Discover asked for a 4506-C. Took about 2 weeks, and after a final validation call with the Fraud department, I was approved for a new Discover It with a $7k limit. The account shows up immediately below the one that says "Special Condition.", which is kind of hilarious, but I will attempt to settle at some point since they let me back in.

My inquiries and newly opened accounts are through the roof on top of things, so I'm not sure if I'm just a weird outlier DP.

Congrats on your accomplishment getting back in with Disco. Way to go!

Re: Discover Preapproval?

ahleahsis — Sun, 08 Jan 2023 12:08:32 GMT

I have a paid charge off from Disco too from 2017 and it's scheduled to fall off my reports in 2024. I just decided to check their pre-approval and no dice. I'd say if it's showing pre-approved then it's probably solid but they'll most likely ask for a 4506-C.

Re: Discover Preapproval?

northway — Sun, 08 Jan 2023 19:11:17 GMT

Personally, I believe that the "Status of Existing/Prior Account" message is only generated as long as the account still shows on your credit report. Literally the day I got the CO dropped from the report, I got a pre-approval instead of the Status decline.

It seems their approval system doesn't check for actual internal CO status, and only if there is anything reporting on your credit file since I haven't settled or fully paid Discover, but I was enrolled in a payment program that I had to drop off of after paying half the balance.

There may be other DPs otherwise, but that's how it was in my case at least.

Re: Discover Preapproval?

OmarGB9 — Sun, 08 Jan 2023 19:27:52 GMT

@northway wrote:
Personally, I believe that the "Status of Existing/Prior Account" message is only generated as long as the account still shows on your credit report. Literally the day I got the CO dropped from the report, I got a pre-approval instead of the Status decline.

It seems their approval system doesn't check for actual internal CO status, and only if there is anything reporting on your credit file since I haven't settled or fully paid Discover, but I was enrolled in a payment program that I had to drop off of after paying half the balance.

There may be other DPs otherwise, but that's how it was in my case at least.

Guess I'll find that out here shortly in a couple of years when my Disco CO (paid) drops off in 2025.