topic Re: Discover it in Credit Card Applications

Discover it

Anonymous — Mon, 06 Jul 2015 11:16:06 GMT

I'm curious to find out if it is worth the hard inquire to try for a discover it card. Credit karma says my chances are fair for a discover it card. My eq score is currently 587. The last couple years have been rough but I am rebuilding. I make about $80k a year. Any thoughts or experiences?

Re: Discover it

baller4life — Mon, 06 Jul 2015 11:35:42 GMT

Don't listen to Credit Karma. Their recommendations do not mean anything. They get paid if you apply through their site. Your EQ is too low for Discover. Don't want to see you waste a hp. Work on any baddies you have and wait till your Fico is 680+

Re: Discover it

Anonymous — Mon, 06 Jul 2015 12:28:26 GMT

@Anonymous wrote:
I'm curious to find out if it is worth the hard inquire to try for a discover it card. Credit karma says my chances are fair for a discover it card. My eq score is currently 587. The last couple years have been rough but I am rebuilding. I make about $80k a year. Any thoughts or experiences?

@Anonymous,

Welcome to MyFico. With your score, you don't stand a chance of getting approved for the Discover IT. Work on whatever is holding your score down and get it to the mid 600s before applying.

Re: Discover it

Anonymous — Mon, 06 Jul 2015 12:55:50 GMT

I had a 645 back in April and I was counter offered for a different rate. They pulled eq and ex because I was on the cusp. I would not bother until the score is at least 650.

Re: Discover it

SouthJamaica — Mon, 06 Jul 2015 13:11:40 GMT

@Anonymous wrote:
I'm curious to find out if it is worth the hard inquire to try for a discover it card. Credit karma says my chances are fair for a discover it card. My eq score is currently 587. The last couple years have been rough but I am rebuilding. I make about $80k a year. Any thoughts or experiences?

No you need to get your score higher

Re: Discover it

Anonymous — Mon, 06 Jul 2015 13:39:27 GMT

Btw ck said my chances were poor when my eq was at a 680. When I hit a 690 they were fair. They funny when my score was 680 poor approval odds I already had the card. See how ck has no clue.

Re: Discover it

Anonymous — Mon, 06 Jul 2015 14:36:35 GMT

CK is definitely off on the odds. The odds of me getting a card recently was poor according to CK, i was approved right away. I agree with the others, your score needs to be in the mid 600s before applying.

Re: Discover it

Anonymous — Mon, 06 Jul 2015 14:39:51 GMT

Also, they don't advertise it, but if you apply for the IT and are denied, they offer some people a secured version of it that requires a deposit. You still get the 5% cash back but it is a secured card. After 12 months of paying on time, they will upgrade you to the unsecured version.

Re: Discover it

Existentialist — Mon, 06 Jul 2015 18:36:29 GMT

What cards if any do U hav currently? Is the posted EQ score Fico or CK? How about TU & EX? What negatives are in profile relative to scores? These are all viable ? that need to be ascertained given sub600 scores (assuming accuracy of such). At very least U need products that are going to assist U in your rebuilding efforts. As the board is able to gleen more n2 your overall profile, the advice U receive will prove more beneficial.

Re: Discover it

Anonymous — Mon, 06 Jul 2015 18:45:49 GMT

Try the capital one pre qual site. You should have better luck.

Re: Discover it

Anonymous — Mon, 06 Jul 2015 21:11:07 GMT

I was approved for Discover IT sub 650 score. I believe it was 620ish with 500 CL. I declined and applied one month later when my balances reported lower and was approved with 1500 CL and 0% APR. I had 7+ negatives reporting at the time plus over 15 INQ.

Re: Discover it

Anonymous — Wed, 19 Aug 2015 03:31:04 GMT

I was just approved for the Discover IT with mid to high 600's. I'm recovering from identity theft that happened while I was deployed. I have a seven year fraud alert on all 3 of my credit reports and I appreciated Discover's diligence in confirming my identity. They pulled my Experian report. Definitely do not consider CK's suggestions. They are paid endorsements and often wrong. As everyone else said work on the bad stuff and you'll get there =)

Re: Discover it

Anonymous — Wed, 19 Aug 2015 04:20:26 GMT

the more you wait the better your terms

Re: Discover it

Anonymous — Wed, 19 Aug 2015 12:49:54 GMT

Re: Discover it

TiggerDat — Wed, 19 Aug 2015 13:45:14 GMT

@Anonymous wrote:
the more you wait the better your terms

Re: Discover it

creditwraith — Wed, 19 Aug 2015 14:31:51 GMT

CK has been another decent tool for me. They showed my scores around 620 when I started, and I literally knew nothing about how all this works. Their forums were pretty useful for me to get my bearings. Those forums are where i learned about Fico scores and these forums, which is where most of my real knowledge has come from. These forums are just amazing. I think all the tools you can get at your disposal are helpful but with CK you really have to know how to use them. For me its just cross checking facts with our community over here.

Re: Discover it

Anonymous — Wed, 19 Aug 2015 15:35:01 GMT

credit karma is only good for the report and that's only about 95% of the time accurate. their offers and scores are meaningless.

Re: Discover it

Anonymous — Wed, 19 Aug 2015 15:44:23 GMT

@creditwraith wrote:
CK has been another decent tool for me. They showed my scores around 620 when I started, and I literally knew nothing about how all this works. Their forums were pretty useful for me to get my bearings. Those forums are where i learned about Fico scores and these forums, which is where most of my real knowledge has come from. These forums are just amazing. I think all the tools you can get at your disposal are helpful but with CK you really have to know how to use them. For me its just cross checking facts with our community over here.

CK is the minor leauges. FICO is the major leauges.

Re: Discover it

Anonymous — Wed, 19 Aug 2015 18:30:44 GMT

I agree that CK is nice because you get a free weekly report but for me that's the end of it. I served in the military for nearly all of my adult life and had identity theft occur while I was out of the country. (When you're getting shot at you're not checking your credit report) I only discovered it when I retired, returned and tried to refi a house earlier this year. I signed up for CK but noticed my scores would bounce wildly as I got the 27 fraudulent accounts off my report. (My FICO reflected the changes in a concise and accurate way) To this day my CK score is about 100 points off of my real scores. The analytics that CK uses do not consider the possibility that a person is working a legitimate problem and I even contracted CK about this who blamed it on the Vantage score model. That is also untrue because two of my credit cards give me my TU Vantage score and those scores match each other and are closer to my actual TU score (about 60 points lower). It is what it is. I also noticed that Credit Sesame is good for immediately reporting an inquiry. When I bought my last car CS was alerting me while I was at the dealership, almost instantly. CK caught up later and my FICO still later. I LOVE my FICO because they are REAL FICO numbers and that is definitely a service worth paying for. Sorry for straying from the original subject

Re: Discover it

TiggerDat — Thu, 20 Aug 2015 13:59:59 GMT

@creditwraith wrote:
CK has been another decent tool for me. They showed my scores around 620 when I started, and I literally knew nothing about how all this works. Their forums were pretty useful for me to get my bearings. Those forums are where i learned about Fico scores and these forums, which is where most of my real knowledge has come from. These forums are just amazing. I think all the tools you can get at your disposal are helpful but with CK you really have to know how to use them. For me its just cross checking facts with our community over here.

CK was my first score watcher service and I have loved it. I realize that it is not a FICO score, but I still was able to use it to track my credit report changes and understand a few things better. I also like the credit card reviews section there. It is easier to see over time how a company has responded, changed, or otherwise dealt with customers. Here you have to read many pages to sift through the information or take a long time participating in the forums to get the knowledge you need. I would say that myFICO is better for analysing what has happened in the past and the changes some companies have taken. They are both very useful and I really don't feel the need to pay for a FICO score, since many of my accounts give them to me for free.

Two of my sisters and my niece use CK to help watch their scores change, and yes I did educate them the difference between FICO and FAKO, but also how to watch the changes over time. I think my niece likes it most and her credit has certainly improved over time from using it. My oldest sister also seems to like it at least a little and tells me occasionally how well she is doing since she started using it. I should inform them of myFICO too, as it could also benefit them.