topic Re: How Golden Is Discover IT Mailer? in Credit Card Applications

How Golden Is Discover IT Mailer?

signaturecardmember — Sun, 15 Feb 2015 22:49:51 GMT

Hey guys,

I did some searching and didnt see anything. Was just talking to a friend of mine who I have helped with her process, she just recieved and IT mailer after having been denied on initial spree about 6 months ago.

Thank you.

Re: How Golden Is Discover IT Mailer?

Anonymous — Sun, 15 Feb 2015 22:55:37 GMT

Often times these are marketing offers inviting one to bite. The pre-approval is not an approval etched in stone and one can have the mailer and still be declined.

Re: How Golden Is Discover IT Mailer?

CreditCuriosity — Sun, 15 Feb 2015 23:43:47 GMT

@Anonymous wrote:
Often times these are marketing offers inviting one to bite. The pre-approval is not an approval etched in stone and one can have the mailer and still be declined.

I agree, although if it has a Fixed APR% vs. a range it probably it is more likely they soft pulled you and probably would be qualified if your credit hasn't changed since they softed you.. If it is a 12.99-23.99 range then it is garbage.. With that being said it is marketing, but can figure out certain things from it.. Only you know your Credit score best and they usually use EQ for approvals.

Re: How Golden Is Discover IT Mailer?

Anonymous — Mon, 16 Feb 2015 00:03:59 GMT

What's it look like? Standard #10 envelope, generic language? Or large sized, fancy looking, expensive paper, and flowery language? The latter is likely golden.

Re: How Golden Is Discover IT Mailer?

Anonymous — Mon, 16 Feb 2015 00:37:38 GMT

All i can say is not solid like Chase

Re: How Golden Is Discover IT Mailer?

joltdude — Mon, 16 Feb 2015 02:43:33 GMT

Also you can sort of nudge Discover to soft you if you use the prequalifier,,... still not a guarentee or as solid as Chase

Use the Disco prequalifier if you think your scores and shortage of baddies support an app..

DO NOT APPLY....(exception is if you get a single digit APR not a range)

Wait 3-4 weeks.. Youll probably get a paper offer....

Check the rate box.. is it a set number, or reduced range.... No.. then they probably did not soft you.. (i wouldnt apply)

Did you get a large envelope (not the standard number 10).. kinda nice in that PRG offer soft of way..

Read it...

Try the prequalifier again next month.. And usually they will soft you again.. and they will send you another offer..

A family member got the 11.99 rate offer on their typical #10 envelope (not kidding)

Someone else i know got the "big envelope".. Both were approvals...

Im getting a reduced range myself.. 15-99-18.99 (I still think im in some sort of thin/new credit bucked with discovers internal scoring)

Re: How Golden Is Discover IT Mailer?

Anomalous — Mon, 16 Feb 2015 02:52:46 GMT

@Anonymous wrote:
What's it look like? Standard #10 envelope, generic language? Or large sized, fancy looking, expensive paper, and flowery language? The latter is likely golden.

Hmmmm.... Great piece of information.

Re: How Golden Is Discover IT Mailer?

signaturecardmember — Mon, 16 Feb 2015 05:35:36 GMT

@joltdude wrote:
Also you can sort of nudge Discover to soft you if you use the prequalifier,,... still not a guarentee or as solid as Chase

Use the Disco prequalifier if you think your scores and shortage of baddies support an app..

DO NOT APPLY....(exception is if you get a single digit APR not a range)

Wait 3-4 weeks.. Youll probably get a paper offer....
Check the rate box.. is it a set number, or reduced range.... No.. then they probably did not soft you.. (i wouldnt apply)

Did you get a large envelope (not the standard number 10).. kinda nice in that PRG offer soft of way..
Read it...

Try the prequalifier again next month.. And usually they will soft you again.. and they will send you another offer..

A family member got the 11.99 rate offer on their typical #10 envelope (not kidding)
Someone else i know got the "big envelope".. Both were approvals...

Im getting a reduced range myself.. 15-99-18.99 (I still think im in some sort of thin/new credit bucked with discovers internal scoring)

I only gave the thought of it being serious because hers too listed a reduced APR range of also the 15.99-18.99% and also the current promotion of 14 months 0% on both new spending and BT's.I was going to tell her to wait regardless until her 6th statement is issued on her Chase accounts, about 3 weeks away.

and thanks everyone else too...so ig uess the bottom line is this isnt very targeted? i will have her use the prequalifer on the normal website, I also used her invite # to just log in but didnt app.

Re: How Golden Is Discover IT Mailer?

cartwrna — Mon, 16 Feb 2015 17:57:07 GMT

The IT mailers currently going out are no pre-approvals. I have gotten several as has my wife. They "INVITE" you to apply for the Discover IT, but nowhere on the letter does it state they pulled credit, or CRA relayed your information. My wife applied and was denied. Hope this helps

Re: How Golden Is Discover IT Mailer?

B335is — Mon, 16 Feb 2015 19:39:14 GMT

Its about as golden as one of those chocolate coins. Discover invitations really aren't worth the paper they're printed on.