topic Re: discover it in Credit Cards

discover it

Anonymous — Sat, 04 Mar 2017 15:23:45 GMT

i did the "pre-approval" on disco site, it brought up the discover it card, but doesnt say anything about pre approval or we've found this. etc, etc.

just wondering if this is my chance at disco, or if this is disco playing a tricky hook, line and sinker game.

anyone have any input?

Re: discover it

JGGM — Sat, 04 Mar 2017 15:30:15 GMT

Depends on scores and what's in your score. But you'll notice with their pre approval site if you just put in any name etc, it will give you that same message, meaning you're not pre approved.

Re: discover it

Anonymous — Sat, 04 Mar 2017 15:57:28 GMT

@JGGM wrote:
Depends on scores and what's in your score. But you'll notice with their pre approval site if you just put in any name etc, it will give you that same message, meaning you're not pre approved.

I don't see any verbiage about being pre or not pre-qualified for the offer. Is this how it has always been? I never used it before.

I talked to a CSR in chat and she said this:

Kimberly

at 9:43, Mar 4:

Thanks for your patience. You were preapproved because your credit report indicated you met our criteria. We may not extend credit to you if, after reviewing your application, we find you do not continue to meet our criteria.

I almost let the application go through for this research project... but somehow refrained and closed the tab.

Re: discover it

rmduhon — Sat, 04 Mar 2017 16:33:05 GMT

If the offered APR is a 3% range or less it's a fair chance at approval. If it's more than that then it's not a good prequal.

Re: discover it

Anonymous — Sat, 04 Mar 2017 23:42:45 GMT

I just made this mistake with Discocer. Tried the online pre-approval checked. It said I was pre-approved for the Discover Cash It. So I applied and selected the box to be considered for other cards if denied.

Denied. No offers for the secured either.

Later, someone posted in my thread that their pre-approvals aren't accurate to begin with.

Re: discover it

Anonymous — Sun, 05 Mar 2017 00:12:52 GMT

So when I filled out the pre-qualify site, my results were:

"We found a personalized offer for you (Discover IT Cash Back) 13.49% - 16.49% APR after the first year. Is that an example of a fair chance of approval?

Re: discover it

jc2 — Sun, 05 Mar 2017 00:19:01 GMT

from experience with Disc over the last 6 mo's...both myself and DW. If it say "we've found a personalized offer for you" its prequalified. If it says anything else...its a suggestion and a roll of the dice as to approval.

Re: discover it

jc2 — Sun, 05 Mar 2017 00:21:13 GMT

I tried it repeatedly after BK and it always came back with "you make like the following....". Once it said "we have found a personalized offer" I was approved instantly. Same with DW

Re: discover it

Anonymous — Sun, 05 Mar 2017 01:43:07 GMT

Thanks. I receive two mailings from Discover per week about the Discover IT card. The mailings never say I'm pre-qualified but give a 3-point % range. However, I am waiting for a dismissed BK to fall off EQ next month before I apply.

Re: discover it

AverageJoesCredit — Sun, 05 Mar 2017 01:57:21 GMT

Creditmaze, you may very well be approved now as when i finally did get approved my bk was still on my TU. the fact your getting mailers with 3 point spread is a good sign, good luck

Re: discover it

Anonymous — Sun, 05 Mar 2017 02:02:40 GMT

Yes but my Chapter 13 BK was dismissed, not discharged. That's the worst kind so I want that gone before applying for anything.

Re: discover it

austinguy907 — Sun, 05 Mar 2017 04:06:38 GMT

Disco does a pre-approval this way:

11.xx%-23.xx% = marketing

3% spread = likely approval

solid apr listed = highly likely approval

This sort of thing is an all around guide for most pre-qual pages with a variety of lenders. The narrower the spread the better the chances.

Re: discover it

joltdude — Mon, 06 Mar 2017 14:28:22 GMT

@austinguy907 wrote:
Disco does a pre-approval this way:

11.xx%-23.xx% = marketing
3% spread = likely approval
solid apr listed = highly likely approval

This sort of thing is an all around guide for most pre-qual pages with a variety of lenders. The narrower the spread the better the chances.

And I have seen a 10.24 (no thats not a typo) which is lower than their posted ranges.... on a Discover pre-approval mailer....

And still a bit **bleep** didn't you app to the family member who recieved it....

-J

Re: discover it

Anonymous — Tue, 21 Mar 2017 13:10:37 GMT

@austinguy907 wrote:
Disco does a pre-approval this way:

11.xx%-23.xx% = marketing
3% spread = likely approval
solid apr listed = highly likely approval

This sort of thing is an all around guide for most pre-qual pages with a variety of lenders. The narrower the spread the better the chances.

I've been getting bombarded with Discover It mail offers lately, and the APR's offered have been pretty solid (23.49%, which is admittedly high but better than my Capital One cards and Amazon line). So I decided to check the pre-approval site and got the "We found a personalized offer for you" and the same APR, no spread, plus a 0% APR offer for the first 14 months on purchases. I guess that means I'm very likely to be approved if I apply...?

Re: discover it

tscrutch — Tue, 21 Mar 2017 13:39:42 GMT

It sounds to me like you have a very high chance of being approved. That's very similar to the offer I was given when I applied and approved.

Re: discover it

Anonymous — Tue, 21 Mar 2017 13:54:42 GMT

@tscrutch wrote:
It sounds to me like you have a very high chance of being approved. That's very similar to the offer I was given when I applied and approved.

Took the plunge just now and BOOM! Instant approval, $2500 credit line!

Re: discover it

Anonymous — Tue, 21 Mar 2017 15:07:52 GMT

@Anonymous wrote:
@tscrutch wrote:
It sounds to me like you have a very high chance of being approved. That's very similar to the offer I was given when I applied and approved.

Took the plunge just now and BOOM! Instant approval, $2500 credit line!

Congrats! Welcome to Discover.

Re: discover it

Anonymous — Tue, 21 Mar 2017 16:10:14 GMT

Thanks! I will say that all the good things overall that I've been reading about Discover It were a factor in my getting this card - interestingly, in 30+ years of using credit, this will be the first Discover card I've ever had!

Re: discover it

AverageJoesCredit — Tue, 21 Mar 2017 16:18:43 GMT

Nice, got the same sl on my first Discover Good thing in a year you should be able to request Apr reduction, i sure know i will.

Welcome to the Discover fam and dont forget your myFico fam will have your back

Re: discover it

Anonymous — Tue, 21 Mar 2017 16:30:50 GMT

@AverageJoesCredit wrote:
Nice, got the same sl on my first Discover Good thing in a year you should be able to request Apr reduction, i sure know i will.

Welcome to the Discover fam and dont forget your myFico fam will have your back

Thanks again. When I said I was being "bombarded" with Discover It offers in the mail, I wasn't exaggerating by much - I just went back and checked my USPS Informed Delivery digests for the past month and I counted at least 5, maybe 6, Discover It offers that had been sent to me via snail mail since February 21 (inclusive). I don't think I've ever gotten that many preapproved offers in such a short space of time from a card issuer, even Capital One or Credit One; Discover must REALLY have wanted my business. That, or their offer-generating computer got stuck and kept cranking out letters over and over and over.