topic Re: Discover PRE APPROVAL after bk7 IIB. in Credit Card Applications

Discover PRE APPROVAL after bk7 IIB.

xReMaKe — Wed, 11 Sep 2024 19:02:40 GMT

My bankruptcy recently turned 5 years. Since the beginning, ive been trying to get back in with Discover. I included them in the BK, so everytime I would apply, it was the same "status of prior account". This time was different, it finally showed that I am pre-approved, but for a secured card. A litle unfortunate, but before knowing if I should accept or not, I want to ask a couple questions to those who have been through this process.

1. If it's now showing a secured, is it possible for it to soon start showing an unsecured card? Or is that extremely rare with Bk on file? I do want to get back in with Discover, if this is the best way then im not opposed to it. My thinking is, if it takes 6-12 more months for it to start showing an unsecured card, by that time a secured card could possiby turn into an unsecured one. Which leads me to my next question.

2. Are they consistant with graduating the secured card?

Re: Discover PRE APPROVAL after bk7 IIB.

GZG — Wed, 11 Sep 2024 20:07:13 GMT

@xReMaKe wrote:
My bankruptcy recently turned 5 years. Since the beginning, ive been trying to get back in with Discover. I included them in the BK, so everytime I would apply, it was the same "status of prior account". This time was different, it finally showed that I am pre-approved, but for a secured card. A litle unfortunate, but before knowing if I should accept or not, I want to ask a couple questions to those who have been through this process.

1. If it's now showing a secured, is it possible for it to soon start showing an unsecured card? Or is that extremely rare with Bk on file? I do want to get back in with Discover, if this is the best way then im not opposed to it. My thinking is, if it takes 6-12 more months for it to start showing an unsecured card, by that time a secured card could possiby turn into an unsecured one. Which leads me to my next question.

2. Are they consistant with graduating the secured card?

the discover secured card is kind of medicore given that you can't product change it to the 5% card once it graduates

you can take advantage of the 4x gas/restaurants up to $1k per quarter in the first year and 2% on all purchases in the first year if you don't have that already, it's not horrible and you might have some later play when the sell off to Cap1 goes through.

the bread amex two card combo comes to mind as a 2 card bk friendly combo to combine a catch all with a gas/groceries/dining card

Re: Discover PRE APPROVAL after bk7 IIB.

xReMaKe — Wed, 18 Sep 2024 06:18:54 GMT

@GZG wrote:
@xReMaKe wrote:
My bankruptcy recently turned 5 years. Since the beginning, ive been trying to get back in with Discover. I included them in the BK, so everytime I would apply, it was the same "status of prior account". This time was different, it finally showed that I am pre-approved, but for a secured card. A litle unfortunate, but before knowing if I should accept or not, I want to ask a couple questions to those who have been through this process.

1. If it's now showing a secured, is it possible for it to soon start showing an unsecured card? Or is that extremely rare with Bk on file? I do want to get back in with Discover, if this is the best way then im not opposed to it. My thinking is, if it takes 6-12 more months for it to start showing an unsecured card, by that time a secured card could possiby turn into an unsecured one. Which leads me to my next question.

2. Are they consistant with graduating the secured card?
the discover secured card is kind of medicore given that you can't product change it to the 5% card once it graduates

you can take advantage of the 4x gas/restaurants up to $1k per quarter in the first year and 2% on all purchases in the first year if you don't have that already, it's not horrible and you might have some later play when the sell off to Cap1 goes through.

the bread amex two card combo comes to mind as a 2 card bk friendly combo to combine a catch all with a gas/groceries/dining card

Ah! I did not know that. Then yeah it doesn't make sense. Have you heard of people not being pre-approved but still applying and getting an unsecured? I have 0 inquiries at the moment, and I hate seeing it clean like that lol, but if its extremely rare, then I'll just wait 3-4 more months and see if I pre-qualify.