topic Re: Is Discover a possibility ? in Credit Cards

Is Discover a possibility ?

LShawn08 — Tue, 14 Jul 2015 00:09:07 GMT

My best friend is trying to get his financial life together because his best friend from middle school just bought a house. I think he's just a bit jealous and now wants to play catch up. These are his stats as far as I know.

I've related to him that he will need to do some cleaning up but I thought he might stand a chance of getting a Discover It, when he finally gets things cleaned up. I've never been a customer of Discover, so I'm looking for input here.

5 student loans all together:

2 Student loans currently back in Repayment

2 Student loans in Rehad

1 Student loan in Default

1 Discover Student loan/Credit card-Good standing-closed

1 Personal loan-Good standing-closed

2 Credit Cards

Horizon Card-Good standing closed-this particular card has fallen off his reports

Banana Card-Authorized User-good standing

UB Bank-Charge off-closed 2011

Re: Is Discover a possibility ?

myjourney — Tue, 14 Jul 2015 00:00:41 GMT

Fico scores?

Any other accounts in good standing on CR's closed or open?

Re: Is Discover a possibility ?

Anonymous — Tue, 14 Jul 2015 00:04:29 GMT

It's best to wait til after rehab, cuz scores will dramatically improve.

If it were me in that situation, without knowing any more, I'd only get cards I was pre-qualified for on solid sites (Chase, Cap1, Citi) (but probably only Cap1 would give a card)...

Meh, Discover might be good to him or her too. I got mine like a year and a half ago and it had a starting limit of $1800, and now it's sitting pretty with $9.5k and I currently have a loan or two in rehab.

Re: Is Discover a possibility ?

LShawn08 — Tue, 14 Jul 2015 00:06:43 GMT

@myjourney wrote:
Fico scores?
Any other accounts in good standing on CR's closed or open?

1 Loan in good standing closed this year

1 Authorized user account

He hasn't purchsed any fico scores, all he has is CK scores and one is 600 and 645. Though he knows those don't count for much.

Re: Is Discover a possibility ?

Anonymous — Tue, 14 Jul 2015 00:09:38 GMT

not yet

Re: Is Discover a possibility ?

myjourney — Tue, 14 Jul 2015 00:12:36 GMT

@LShawn08 wrote:
@myjourney wrote:
Fico scores?
Any other accounts in good standing on CR's closed or open?
1 Loan in good standing closed this year
1 Authorized user account

He hasn't purchsed any fico scores, all he has is CK scores and one is 600 and 645. Though he knows those don't count for much.

He really needs to know his scores

On AVG Discover will require 650+EQ

Re: Is Discover a possibility ?

LShawn08 — Tue, 14 Jul 2015 00:21:27 GMT

@myjourney wrote:
@LShawn08 wrote:
@myjourney wrote:
Fico scores?
Any other accounts in good standing on CR's closed or open?
1 Loan in good standing closed this year
1 Authorized user account

He hasn't purchsed any fico scores, all he has is CK scores and one is 600 and 645. Though he knows those don't count for much.
He really needs to know his scores
On AVG Discover will require 650+EQ

Noted. Maybe he should consider getting a store card to start himself up again, once his rehabs start to post.

Re: Is Discover a possibility ?

myjourney — Tue, 14 Jul 2015 01:45:08 GMT

@LShawn08 wrote:
@myjourney wrote:
@LShawn08 wrote:
@myjourney wrote:
Fico scores?
Any other accounts in good standing on CR's closed or open?
1 Loan in good standing closed this year
1 Authorized user account

He hasn't purchsed any fico scores, all he has is CK scores and one is 600 and 645. Though he knows those don't count for much.
He really needs to know his scores
On AVG Discover will require 650+EQ
Noted. Maybe he should consider getting a store card to start himself up again, once his rehabs start to post.

If he doesn't think scores are high enough instead of store card go secured

No HP required and the only ding is when it reports .....Great card to build with

Easy approval and latest reports are they now graduate

Rewards, no FTF, good APR

https://www.sdfcu.org/emv-creditcards

Re: Is Discover a possibility ?

Anonymous — Tue, 14 Jul 2015 04:33:17 GMT

With that current stats I highly doubt he will get approved for Discover card.

Re: Is Discover a possibility ?

morgacj2004 — Tue, 14 Jul 2015 05:39:43 GMT

The first thing he needs to do is consolidate those student loans.