topic Re: Got my 2nd Discover It mailer in Credit Cards

Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 19:19:57 GMT

So I received my first Discover It mailer a couple weeks but just ignored it. Today, I recieved another one. Is this considered a pre-approval? The APR is at a fixed rate: 18.99% after the intro APR expires.

My credit history so far has been:

-Cap 1 Journey (started on 3/15) and was PC'd to a QS with no annual fee a week ago

-Macy's Store Card non-AMEX (started on 4/15) App'd to take advantage of the 20% membership discount since mothers day was around the corner

I was planning to app for a BCE once my QS hits 3 months next month, then garden for a couple months before I app for Sallie Mae, but now, I feel like replacing the BCE and apping for this IT instead. My goal for this year is still the Sallie Mae. What do you guys suggest? I have no idea what my FICO's are, but my TU CK FAKO is 642 and EQ CK FAKO is 655

Re: Got my 2nd Discover It mailer

JSS3 — Sat, 23 May 2015 19:36:22 GMT

Well Discover likes thin, clean files which you appear to have(didn't mention any baddies).

Although, depending on when they sent that mailer, your reports might've changed with a lowered AAoA since adding two new cards...

I say go for it. It's only a pull on EQ.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 19:46:02 GMT

Correct, I don't have any baddies. Since AMEX pulls EX and Discover pulls EQ, would apping for any of these decrease my chances for Sallie Mae? I know they pull TU, but are they sensitive to having many new and recent accounts?

Re: Got my 2nd Discover It mailer

JSS3 — Sat, 23 May 2015 19:47:58 GMT

YES! Plus need a good year of credit for Barclays. People used to say 6 months but I've seen denials at 6 months stating short history.

Re: Got my 2nd Discover It mailer

Skye12329 — Sat, 23 May 2015 19:48:28 GMT

Discover can go either way, in the case of my Sister, Partner and Myself they only pulled EQ but there have been cases of them pulling a different bureau.

If they don't pull TU and your inqs are low on that one i think you would still be good for Sallie Mae since Barclays won't notice till it reports.

Re: Got my 2nd Discover It mailer

JSS3 — Sat, 23 May 2015 19:51:57 GMT

Can you wait until you reach 6 months to get the Discover? Then you should be golden. There'll always be another mailer(with better terms too). Bank on that!

Re: Got my 2nd Discover It mailer

NRB525 — Sat, 23 May 2015 20:10:16 GMT

@JSS3 wrote:
Can you wait until you reach 6 months to get the Discover? Then you should be golden. There'll always be another mailer(with better terms too). Bank on that!

The situation with Discover, however, means that without regard to the APR you initially get, you can ask for a lowered APR later, and have some reasonable chance of seeing the APR decline over time, as the file improves. It becomes a virtuous circle.

I'd tend to doubt OP is ready for the AX and SM yet, and the Discover would be a good stepping stone looking toward those other two apps in 2016. Just my opinion and what matters is what the CCC think.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 20:21:01 GMT

@JSS3 wrote:
Can you wait until you reach 6 months to get the Discover? Then you should be golden. There'll always be another mailer(with better terms too). Bank on that!

Yea I can wait 6 months. My main goal is the Sallie Mae, but I also wanted some cards in between to earn some rewards, hence the BCE and Discover. I can do without them though, whichever path leads me to a Sallie Mae.

Re: Got my 2nd Discover It mailer

JSS3 — Sat, 23 May 2015 20:25:01 GMT

@NRB
True. Good points.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 21:35:56 GMT

Anyways, I wanna return to my original question, which is: does a Discover It mailer mean it's a pre-approval? If not, then what are the chances of being approved if a person receives a Discover mailer? I know their online pre-approval page is a joke and nothing to rely on.

Re: Got my 2nd Discover It mailer

JSS3 — Sat, 23 May 2015 21:45:18 GMT

We can't really say for sure. You will have to app to find out. Discover can be so unpredictable as far as approvals go.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 21:46:18 GMT

@Anonymous wrote:
Anyways, I wanna return to my original question, which is: does a Discover It mailer mean it's a pre-approval? If not, then what are the chances of being approved if a person receives a Discover mailer? I know their online pre-approval page is a joke and nothing to rely on.

Is it a standard sized #10 envelope, or a larger envelope made with high quality paper? If the former, it's a maybe. If the latter, it's as solid as it gets.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 21:46:33 GMT

@Anonymous wrote:
Anyways, I wanna return to my original question, which is: does a Discover It mailer mean it's a pre-approval? If not, then what are the chances of being approved if a person receives a Discover mailer? I know their online pre-approval page is a joke and nothing to rely on.

They will still HP for Discover It. (I checked my HP for Discover and it was only EQ back in January.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 21:55:40 GMT

@Anonymous wrote:
@Anonymous wrote:
Anyways, I wanna return to my original question, which is: does a Discover It mailer mean it's a pre-approval? If not, then what are the chances of being approved if a person receives a Discover mailer? I know their online pre-approval page is a joke and nothing to rely on.

Is it a standard sized #10 envelope, or a larger envelope made with high quality paper? If the former, it's a maybe. If the latter, it's as solid as it gets.

Can't really recall and I'm at the laundromat right now so I can't look at it (it's at home). But I do vageuly remember it was standard size but different quality paper, it was also the magenta color, if that means anything. The letter also contained my fixed determined APR rate.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 22:03:53 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Anyways, I wanna return to my original question, which is: does a Discover It mailer mean it's a pre-approval? If not, then what are the chances of being approved if a person receives a Discover mailer? I know their online pre-approval page is a joke and nothing to rely on.
Is it a standard sized #10 envelope, or a larger envelope made with high quality paper? If the former, it's a maybe. If the latter, it's as solid as it gets.

Can't really recall and I'm at the laundromat right now so I can't look at it (it's at home). But I do vageuly remember it was standard size but different quality paper, it was also the magenta color, if that means anything. The letter also contained my fixed determined APR rate.

Wait until you get the big fancy one that reads like Discover is God's gift to credit. In January of last year I started getting a mailer each month, number 10's. Tossed the first couple, decided to give it a try in March. Denied. Kept getting the number 10's each month, even after the denial. Then in August I got the completely different big, fancy one. Applied. Approved.

Re: Got my 2nd Discover It mailer

Anonymous — Sat, 23 May 2015 22:10:34 GMT

i got a mailer with a fixed APR and it was a pre-qualified offer that, in the fine print, said that i will be approved if nothing has changed in my credit and my income is sufficient. applied and was denied straight up lol.

Re: Got my 2nd Discover It mailer

taxi818 — Sun, 24 May 2015 01:25:50 GMT

To Simply. Answer your question. No. it does not mean a pre approval. It just means you meet a certain criteria that Discover can consider you for a card. of course you can still be denied. there is only 1 way to find out. Apply. I never got a mailer from Discover until i had the card in my hand for 2 weeks. Was strange. i called to ask a few questions then lady just took app over phone and said. congrats welcome to the discover family. gave me 2500 limit. was highest at time. was 9 months ago. now its at 6500. but for sure not my highest. good luck op. hope that answers what you are looking for.