topic Re: Discover Decline and I WILL NEVER Apply again in Credit Card Applications

Discover Decline and I WILL NEVER Apply again

Creditaddict — Wed, 28 Jan 2015 17:25:13 GMT

So I have now applied 5 times I think and I have played the Discover computer came and managed them to hit 1 of the each credit reports at least once and this time I finally got them to TU and it was still denied but with different reasons from last month with EX pull.

Because of "fair lending" discover doesn't recon computer declines, they will work with you more once you have an account open but until then and the computer does not seem to care that I have a joint discover currently so I just said I would not be wasting INQ's anymore on them.

For some reason I actually feel resolve about it.

Re: Discover Decline and I WILL NEVER Apply again

TRC_WA — Wed, 28 Jan 2015 17:27:02 GMT

Was it too many inquiries or too many new accounts?

Both?

Re: Discover Decline and I WILL NEVER Apply again

Anonymous — Wed, 28 Jan 2015 17:27:04 GMT

@Creditaddict wrote:
So I have now applied 5 times I think and I have played the Discover computer came and managed them to hit 1 of the each credit reports at least once and this time I finally got them to TU and it was still denied but with different reasons from last month with EX pull.
Because of "fair lending" discover doesn't recon computer declines, they will work with you more once you have an account open but until then and the computer does not seem to care that I have a joint discover currently so I just said I would not be wasting INQ's anymore on them.

For some reason I actually feel resolve about it.

@Anonymous,

Sorry to hear about the decline..

Re: Discover Decline and I WILL NEVER Apply again

Creditaddict — Wed, 28 Jan 2015 17:41:12 GMT

@TRC_WA wrote:
Was it too many inquiries or too many new accounts?

Both?

I don't have letter yet but If I recall her reading correctly:

1. Amount of revolving Credit Lines

2. Amount of revolving Credit Balances to Limits

3. To Many INQ's

4. Balances on to many accounts

I'll take 1

2 is stupid since I'm carrying balance on 1 card and all others are PIF

3. Discover makes the 9th INQ on TU, I guess that could be a lot for some but my least of any report!

4. stupid to me again since many of said balances are under $10 (literally to show use on comenity and sync stuff)

Re: Discover Decline and I WILL NEVER Apply again

TRC_WA — Wed, 28 Jan 2015 17:53:20 GMT

@Creditaddict wrote:
@TRC_WA wrote:
Was it too many inquiries or too many new accounts?

Both?

I don't have letter yet but If I recall her reading correctly:

4. stupid to me again since many of said balances are under $10 (literally to show use on comenity and sync stuff)

In the eyes of creditors... a $1 balance is much worse than a $0 balance.

I've tested it... letting multiple $20 balances report on cards... and when they reported $0 my FICO went up.

Silly... but it's true... a dozen cards with a $1 balance will tank your score vs a dozen cards with a $0 balance.

Re: Discover Decline and I WILL NEVER Apply again

Creditaddict — Wed, 28 Jan 2015 17:55:21 GMT

@TRC_WA wrote:
@Creditaddict wrote:
@TRC_WA wrote:
Was it too many inquiries or too many new accounts?

Both?

I don't have letter yet but If I recall her reading correctly:

4. stupid to me again since many of said balances are under $10 (literally to show use on comenity and sync stuff)
In the eyes of creditors... a $1 balance is much worse than a $0 balance.

I've tested it... letting multiple $20 balances report on cards... and when they reported $0 my FICO went up.

Silly... but it's true... a dozen cards with a $1 balance will tank your score vs a dozen cards with a $0 balance.

oh for sure... I just feel like I have enough accounts that I should be able to balance out a number of these little ones but clearly not...

it's okay

Re: Discover Decline and I WILL NEVER Apply again

1GaDawg85 — Wed, 28 Jan 2015 18:05:56 GMT

I'm staying away from discover as well.....they don't wanna throw you a bone for anything unless you're squeaky clean

Re: Discover Decline and I WILL NEVER Apply again

Creditaddict — Wed, 28 Jan 2015 18:08:14 GMT

@1GaDawg85 wrote:
I'm staying away from discover as well.....they don't wanna throw you a bone for anything unless you're squeaky clean

but they are weird because if you don't have much credit but not very clean file they don't mind giving you credit... they don't seem interested in those that have a lot of credit.

even my partners card was originally only approved at $4500 when he had just gotten approvals of $9k chase, $15k BofA, $15k Barclay, etc. and getting our now joint card up to the $9k it's at now took a year and we had to take hp's and then got a great underwriter that day!

Re: Discover Decline and I WILL NEVER Apply again

indiolatino61 — Wed, 28 Jan 2015 18:36:12 GMT

@Creditaddict wrote:
So I have now applied 5 times I think and I have played the Discover computer came and managed them to hit 1 of the each credit reports at least once and this time I finally got them to TU and it was still denied but with different reasons from last month with EX pull.
Because of "fair lending" discover doesn't recon computer declines, they will work with you more once you have an account open but until then and the computer does not seem to care that I have a joint discover currently so I just said I would not be wasting INQ's anymore on them.

For some reason I actually feel resolve about it.

Who needs Discover anyway? Once you have a Visa/Mastercard/AmEx, what does discover really do? Look at my siggy...who do you see trailing behind like a three-legged horse...lol? BTW, I've had it for over 3 years.

Re: Discover Decline and I WILL NEVER Apply again

Anonymous — Wed, 28 Jan 2015 18:35:30 GMT

@1GaDawg85 wrote:
I'm staying away from discover as well.....they don't wanna throw you a bone for anything unless you're squeaky clean

Don't know about that.

637 EQ FICO with Midland collections (2) for 6+ yr old C/O's showing along with said C/O's and 2 medical baddies as well got me $1,800 and 6 mos 0%..

Re: Discover Decline and I WILL NEVER Apply again

Anonymous — Wed, 28 Jan 2015 19:04:18 GMT

I'm sorry Discover always pulls EQ where I am from and right now I'm not happy with EQ and don't think I ever will be so I don't think I will have a adiscover anytime soon. I wish I could get their computer to pull a different report then maybe i would try down the road but Im to scared to try.

Re: Discover Decline and I WILL NEVER Apply again

TRC_WA — Wed, 28 Jan 2015 19:19:50 GMT

@1GaDawg85 wrote:
I'm staying away from discover as well.....they don't wanna throw you a bone for anything unless you're squeaky clean

I got in with them last month... $1500 CL. I'm fine with it... no plans to ask for a CLI or anything for a year. By this time next year my reports will be clear of the BR and associated IIB accounts and I should be golden.

Re: Discover Decline and I WILL NEVER Apply again

TRC_WA — Wed, 28 Jan 2015 19:20:59 GMT

@indiolatino61 wrote:
@Creditaddict wrote:
So I have now applied 5 times I think and I have played the Discover computer came and managed them to hit 1 of the each credit reports at least once and this time I finally got them to TU and it was still denied but with different reasons from last month with EX pull.
Because of "fair lending" discover doesn't recon computer declines, they will work with you more once you have an account open but until then and the computer does not seem to care that I have a joint discover currently so I just said I would not be wasting INQ's anymore on them.

For some reason I actually feel resolve about it.
Who needs Discover anyway? Once you have a Visa/Mastercard/AmEx, what does discover really do? Look at my siggy...who do you see trailing behind like a three-legged horse...lol? BTW, I've had it for over 3 years.

Agreed... my newest card and they are already way behind LOL...

Re: Discover Decline and I WILL NEVER Apply again

Anonymous — Wed, 28 Jan 2015 19:26:17 GMT

Sorry to hear about your decline. I must be the only one that has no desire to have a Discover card.

Re: Discover Decline and I WILL NEVER Apply again

Anonymous — Wed, 28 Jan 2015 19:30:03 GMT

@Anonymous wrote:
Sorry to hear about your decline. I must be the only one that has no desire to have a Discover card.

Oh come on.

I'm sure they'd give you a shiny $3,000 SL!

Re: Discover Decline and I WILL NEVER Apply again

Anonymous — Wed, 28 Jan 2015 19:36:13 GMT

@Anonymous wrote:
@Anonymous wrote:
Sorry to hear about your decline. I must be the only one that has no desire to have a Discover card.
Oh come on.

I'm sure they'd give you a shiny $3,000 SL!

Just what I need 😀

Re: Discover Decline and I WILL NEVER Apply again

1GaDawg85 — Wed, 28 Jan 2015 19:37:24 GMT

@Anonymous wrote:
@1GaDawg85 wrote:
I'm staying away from discover as well.....they don't wanna throw you a bone for anything unless you're squeaky clean
Don't know about that.

637 EQ FICO with Midland collections (2) for 6+ yr old C/O's showing along with said C/O's and 2 medical baddies as well got me $1,800 and 6 mos 0%..

They won't even look twice at me but I'm sure it's because of the BK and judgement that they filed against me

Re: Discover Decline and I WILL NEVER Apply again

b_diddy — Wed, 28 Jan 2015 20:04:09 GMT

@TRC_WA wrote:
@Creditaddict wrote:
@TRC_WA wrote:
Was it too many inquiries or too many new accounts?

Both?

I don't have letter yet but If I recall her reading correctly:

4. stupid to me again since many of said balances are under $10 (literally to show use on comenity and sync stuff)
In the eyes of creditors... a $1 balance is much worse than a $0 balance.

I've tested it... letting multiple $20 balances report on cards... and when they reported $0 my FICO went up.

Silly... but it's true... a dozen cards with a $1 balance will tank your score vs a dozen cards with a $0 balance.

This isn't supposed to be true ... but I can't figure out why my score increased. Your FICO score should just factor in your overall utilization. However, I moved all of my existing balances across multiple cards to 2 cards resulting in a 1 point utilization % increase. What gives? My FICO score jumped 10 points. I can't find anything that says FICO factors in total number of accounts with balances.

Re: Discover Decline and I WILL NEVER Apply again

TheGardner — Wed, 28 Jan 2015 20:15:39 GMT

I applied a few times with discover, always declined so I decided to no longer bother as well. Of course, my credit was crap then.. But with discover being a YMMV lender I feel slighted lol.

Can have a fresh BK and get approved $3500. Perfect credit $1,000. 1 baddie, denied. So fickle. Freedom has same cats so the card isn't anything special.

Re: Discover Decline and I WILL NEVER Apply again

TheGardner — Wed, 28 Jan 2015 20:21:42 GMT

@b_diddy wrote:
@TRC_WA wrote:
@Creditaddict wrote:
@TRC_WA wrote:
Was it too many inquiries or too many new accounts?

Both?

I don't have letter yet but If I recall her reading correctly:

4. stupid to me again since many of said balances are under $10 (literally to show use on comenity and sync stuff)
In the eyes of creditors... a $1 balance is much worse than a $0 balance.

I've tested it... letting multiple $20 balances report on cards... and when they reported $0 my FICO went up.

Silly... but it's true... a dozen cards with a $1 balance will tank your score vs a dozen cards with a $0 balance.
This isn't supposed to be true ... but I can't figure out why my score increased. Your FICO score should just factor in your overall utilization. However, I moved all of my existing balances across multiple cards to 2 cards resulting in a 1 point utilization % increase. What gives? My FICO score jumped 10 points. I can't find anything that says FICO factors in total number of accounts with balances.

I had 11 cards report with a balance. So far 2 updated to 0 balance, score jump 4-7 points. I'm sure it's 2-3 cards is X # of points. 4-7 cards X points etc. something like that where after a certain number of cards it matters less as you have already taken all the points loss.