topic Re: Discover IT (secured) in Credit Card Applications

Discover IT (secured)

Anonymous — Thu, 04 Jun 2015 13:21:19 GMT

This Discover IT double cash back thing has me itching BAD. Supposed to be gardening. If I was smart, I'd ask DW to get a new color disc card and let me use that. I have a few credit goals but my number 1 goal lately is to not waste HP's. I'm nervous about getting declined, as my EQ is my lowest score. Haven't checked it lately, but it's prob around 650. TU and EX are right around 675-680, so I'd be better off with a double pull.

Anyways, was combing through forum posts all morning, and saw some posts about the secured version of the card. This option makes the fear of apping much lower, but I wasn't able to find much info on who gets the secured offer. Seems like plenty of people were offered it and plenty were not.

Anyone want to chime in with stories of a secured offer, and what their credit file was like at the time?

Anyone have experience reconning into a secured if it's not offered by the website?

Re: Discover IT (secured)

gibeon — Thu, 04 Jun 2015 13:41:18 GMT

In the mid-high 500's when declined for regular card and no offer for secured card.

Applied for Disco Student card a month or so later with 590's or very low 600's and was offered student version. (I am a student and have an edu email, and loans in deferment, so didn't even receive verification questions.)

Have since PC'd card to the regular IT version (still secured of course) and added the double cash last night.

Re: Discover IT (secured)

Anonymous — Thu, 04 Jun 2015 13:45:18 GMT

I was approved for the unsecured version in April. I have a 6+ year old judgement on my report. Also I had a 29% util at the time. My score for eq was 645. They also pulled experian which was a 647.

Re: Discover IT (secured)

Anonymous — Thu, 04 Jun 2015 20:35:48 GMT

@Anonymous wrote:
I was approved for the unsecured version in April. I have a 6+ year old judgement on my report. Also I had a 29% util at the time. My score for eq was 645. They also pulled experian which was a 647.

Thanks to both of you

Kaylava - was your file fairly thin?

Re: Discover IT (secured)

Sneakytiki — Thu, 04 Jun 2015 20:47:48 GMT

I applied last week, scores are in my sig. I was approved for the Discover It but they would not give me a 0% APR, I had to take a 10.99% intro APR.

I have 4 paid in full charge offs from 2010/2011, 2 collections from the same time paid in full last year. Most recent negatives were two 90 day lates about 14 months ago. I had 4 student loans in an in school deferment, still make payments, 4 revolving accounts and 1 auto loan active when I apped with a handful of inquires from my mortgage company. Utilization on revolving accounts was 5%, 15%, 20% and 60% on revolving accounts. AAoA was 7 years.

They pulled EX and EQ.

Hopefully that helps a little.

Re: Discover IT (secured)

Anonymous — Thu, 04 Jun 2015 20:52:13 GMT

No, longest account 11.5 years aaoa 3 years 6 months. I have a ton of 90,120,250 day lates from 2011. Unfortunately I never paid up and just kept paying my monthly payments. I am disputing the ones from last 2 years because they jump from 120 150 120 even though my payments were being made. It is only on transunion though. I have 14 accounts.

Re: Discover IT (secured)

Anonymous — Thu, 04 Jun 2015 21:15:40 GMT

I had 4 collections, prob all but 1 paid, 2 new cards (first 2 of my life) less than 2 months of history, 1 secured loan for around 5 months. Declined for regular IT (duh) but offered secured which is what i was actually going for. Scores all >550 <600 at the time.

Re: Discover IT (secured)

Sneakytiki — Thu, 04 Jun 2015 21:25:39 GMT

Forgot they included a score. They said I had a 638 when they sent my card.

Re: Discover IT (secured)

JamP — Fri, 05 Jun 2015 01:37:59 GMT

My wife was pre approved on the Discover site for the Discover IT. She applied and was denied. Called them and asked if there was anything she could do, cosigner or student version and they took her information for the student version and denied her for that one also.

Told them that she really wanted to get in with Discover its the best card out there and they offered her the secured version of the IT card. Sent her a link, added amount she wanted and was told she would be able to upgrade it to the unsecured version in a year. So its possible, but not really understanding why some get the offer and some don't.

Re: Discover IT (secured)

Anonymous — Fri, 05 Jun 2015 04:50:38 GMT

I was discharged from BK in Jan and wanted a secure card to start rebuilding my credit. I was told to apply for the discover It card and they should offer the secure version. I did and I was approved in Feb i put 200 down they just added the feature where you can add more if you want and they told me with good payment history and taking care of the card it will go to unsecure in a year. My scores were in the high 500's they pulled Equifax which was 590 at the time.

Re: Discover IT (secured)

Anonymous — Fri, 05 Jun 2015 11:50:21 GMT

@JamP wrote:
My wife was pre approved on the Discover site for the Discover IT. She applied and was denied. Called them and asked if there was anything she could do, cosigner or student version and they took her information for the student version and denied her for that one also.
Told them that she really wanted to get in with Discover its the best card out there and they offered her the secured version of the IT card. Sent her a link, added amount she wanted and was told she would be able to upgrade it to the unsecured version in a year. So its possible, but not really understanding why some get the offer and some don't.

Thanks - good to hear that you can recon into a secured card

Re: Discover IT (secured)

Anonymous — Fri, 17 Jul 2015 14:11:05 GMT

I got offered the secured version when applying for the student. I just got my Ch 7 discharge on July 1st 2015, so this is my first credit card. My scores are very low right now equifax is under 500 and trans/expe are both low 500's, so needless to say I am very excited about this card!

Re: Discover IT (secured)

Anonymous — Fri, 17 Jul 2015 19:35:57 GMT

@Anonymous wrote:
This Discover IT double cash back thing has me itching BAD. Supposed to be gardening. If I was smart, I'd ask DW to get a new color disc card and let me use that. I have a few credit goals but my number 1 goal lately is to not waste HP's. I'm nervous about getting declined, as my EQ is my lowest score. Haven't checked it lately, but it's prob around 650. TU and EX are right around 675-680, so I'd be better off with a double pull.

Anyways, was combing through forum posts all morning, and saw some posts about the secured version of the card. This option makes the fear of apping much lower, but I wasn't able to find much info on who gets the secured offer. Seems like plenty of people were offered it and plenty were not.

Anyone want to chime in with stories of a secured offer, and what their credit file was like at the time?
Anyone have experience reconning into a secured if it's not offered by the website?

When I applied, I stil had 2 collections reporting. I have one now. They pulled EX for me and at the time it was between 650-660. I was turned down for the regular It, but offered the secured card at the time. Since I only had a secured Cap 1, I took the offer. A couple of months later, I applied for the Amex ED and Apple Rewards and was approved for both. I think having the Secured Discover helped me get the other cards because I had 2 bank cards along with the store cards.

Re: Discover IT (secured)

Anonymous — Sun, 19 Jul 2015 15:22:21 GMT

My first credit card was a Secured Discover iT, immediately after my 12th statement I was approved to become unsecured, CLI was bumped to $800, dissapointing becasue AmEx approved me for $1000 on a Blue card lol. But I thank discover for helping me get my foot in the door with credit, and now have 12 open lines and nearly 16K in total CLI. Their customer services is 100% US based, and EXCELLENT! But to be selected for Discover secured, I had to app for regular card and they have to counter offer, I'm not sure if it is still the same.

Re: Discover IT (secured)

Daare2dreeam — Mon, 27 Jul 2015 08:18:29 GMT

I have applied for a Discover card in the past after receiving offers in the mail. I was always denied. Last year after denial I called to ask about the secured card and was told it was by invitation only. Last week I used their pre qualify site and was recommended to apply for the student card. After applying, I received a message stating they would contact me by email with results. A couple days later i received an email stating i was denied for the student card but offered the secured with 5 days to fund it. I do not know my exact scores but i know that my EQ and EX are in the mid to high 500s and my TU as of a couple weeks ago was 614. Im not sure which bureau they pulled though.

Re: Discover IT (secured)

Anonymous — Mon, 27 Jul 2015 08:40:13 GMT

I applied for the Discover It student version (Chrome I think) and was denied for the unsecured student card, but was immediately offered a secured It card (not a student card, but the regular It card). This happened to me twice about 6 months apart. I took the offer the second time.