topic Should I reapply for Discover IT? in Credit Cards

Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 04:01:02 GMT

I really wanted the discover IT card as I do a lot of shopping on Amazon and 5% back for half the year is a pretty sweet deal. I applied but was denied. They pulled my TU which had a bogus collection I was disputing and my score was 599. A day after I was denied the collection was removed and my score went up to 651. There is one collection on there for $129 which I'm disputing since what happened was I was being charged for my cable and the neighbors across the street and they apologized and promised to pay me back but never did and then put me in collections.

Should i try again for Discover or just wait since I just got the Journey card?

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 05:04:01 GMT

i would wait for the dispute to settle first.

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 05:12:04 GMT

I would wait

Re: Should I reapply for Discover IT?

creditguy — Tue, 02 Aug 2016 05:25:15 GMT

Probably be a good idea to wait. You might also consider applying for the Amazon prime store card if your interested in 5% back on Amazon purchases.

Re: Should I reapply for Discover IT?

nrm — Tue, 02 Aug 2016 08:31:14 GMT

Your patience will pay back! Be patient!

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 10:35:38 GMT

And when you say 'they' ...it seems as if you're referring to the company vs your neighbor.

That being the case, it should be rather easy to get that removed from your reports (that's unless you are the neighbor were running the flim flam)
As a matter of fact, you might be able to collect money damages because their negligence caused you harm (credit turn downs, higher fees etc)

Just the mention of applicable law and decent reasoning is enough to get CRs clean, and correct wording may bring about a check for the troubles ( in addition there are lawyers that will chase these violations for a split... just like the injury, ambulance chasers ....they don't charge unless THEY win and split the booty with you)

Either way most ppl just, want they quick 'settlement' they can get on their own...and the offending company generally just wants a dump N run...so they delete, hoping the 'problem' just goes away ( but that's all you really wanted anyway,a delete)

Re: Should I reapply for Discover IT?

takeshi74 — Tue, 02 Aug 2016 13:08:10 GMT

@Anonymous wrote:
I really wanted the discover IT card as I do a lot of shopping on Amazon and 5% back for half the year is a pretty sweet deal.

The calendar is not the same every year. If you shop a lot at Amazon then consier the Prime Store Card if you have Prime membership.

@Anonymous wrote:
There is one collection on there for $129 which I'm disputing since what happened was I was being charged for my cable and the neighbors across the street and they apologized and promised to pay me back but never did and then put me in collections.

Should i try again for Discover or just wait since I just got the Journey card?

You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 13:12:56 GMT

I agree with those who say to wait. When your score is better you will get a higher CLI and a lower APR. You can do it!

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 23:53:07 GMT

@takeshi74 wrote:

You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.

This is a complete generalization (Mod Cut-nonFSR) It depends on the rest of your profile, not just the major derogs. I have two major derogs on my profile (120 day late and 90 day late on 2 different accounts), both from the last couple of years, and was 4 for 4 on approvals last month for $58,500 in additional credit lines. Why? Because the rest of my profile was excellent. Derogs are significant negatives, no doubt, but they are not the be all end all.

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 20:54:01 GMT

@Anonymous wrote:
@takeshi74 wrote:

You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.
This is a complete generalization and IMO should be ignored. It depends on the rest of your profile, not just the major derogs. I have two major derogs on my profile (120 day late and 90 day late on 2 different accounts), both from the last couple of years, and was 4 for 4 on approvals last month for $58,500 in additional credit lines. Why? Because the rest of my profile was excellent. Derogs are significant negatives, no doubt, but they are not the be all end all.

That's the real world talking. Excellent answer as each and everyone of us have individual files that vary, even given the norms of approvals.

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 22:22:27 GMT

@Anonymous wrote:
I really wanted the discover IT card as I do a lot of shopping on Amazon and 5% back for half the year is a pretty sweet deal. I applied but was denied. They pulled my TU which had a bogus collection I was disputing and my score was 599. A day after I was denied the collection was removed and my score went up to 651. There is one collection on there for $129 which I'm disputing since what happened was I was being charged for my cable and the neighbors across the street and they apologized and promised to pay me back but never did and then put me in collections.

Should i try again for Discover or just wait since I just got the Journey card?

First I'm sorry this happened to you! do you know what your score was before these 2 collections are reported?

Wow 52 points increase from one removal of collection, I wish I see that much of increase on mine... I can only hope... I'm so ansy just the thought of it. I too only have 2 collections on my report and one of the newest one was a mistake and they sent the deletion/removal request yesterday but I have yet seen it reflect on my credit report. But I sooooo soooo wish that it will give me that much of a jump!

THanks for sharing!

Re: Should I reapply for Discover IT?

Anonymous — Tue, 02 Aug 2016 22:27:41 GMT

I was watching my credit karma scores before I decided to finally get my fico and I had from June till now about 80 more points. I also got a cli from 200 to 500 on my cap 1 secured in June. I just received my journey card and it has a limit of 500 it'll report mid September. I can't wait to see what my score will be when I've effectively 5x my credit limit in a few months.

Re: Should I reapply for Discover IT?

SunriseEarth — Wed, 03 Aug 2016 00:45:56 GMT

@takeshi74 wrote:
@Anonymous wrote:
I really wanted the discover IT card as I do a lot of shopping on Amazon and 5% back for half the year is a pretty sweet deal.
The calendar is not the same every year. If you shop a lot at Amazon then consier the Prime Store Card if you have Prime membership.

@Anonymous wrote:
There is one collection on there for $129 which I'm disputing since what happened was I was being charged for my cable and the neighbors across the street and they apologized and promised to pay me back but never did and then put me in collections.

Should i try again for Discover or just wait since I just got the Journey card?
You want to apply when your credit is in the best possible shape. A derog like a collection has a significant impact and is a major red flag to creditors. You want removal of the derog if possible. Apply when your reports are clean. Appyling while having one or more derogs and recent new accounts is not recommended. With the collection those new accounts are going to be seen as a bigger risk factor.

I agree. Given OP's current approvals, I don't think Discover is going to break the trend. I'd wait at least 6 months to let the HPs and the accounts age a bit before trying Discover again. I would agree about Amazon Prime: I was approved with a $700 CL when my scores were around 630.

Re: Should I reapply for Discover IT?

Anonymous — Wed, 03 Aug 2016 07:31:04 GMT

There is good advice in your thread OP. Best of luck to you!

Re: Should I reapply for Discover IT?

Anonymous — Thu, 04 Aug 2016 03:00:01 GMT

Definitely consider the Amazon store card. If you use the card regularly and pay in full each month, you will see several credit line increases within the first year. Wait for your scores to recover from the collection disputes before applying for the Discover It. Good luck!