topic Re: Discover card minimum credit score for approval in Credit Cards

Discover card minimum credit score for approval

Albert_E63 — Fri, 25 May 2018 21:37:26 GMT

Hello everyone i been lurking around the forums and been learning alot of stuff, I wanted to ask yall what credit score is required to be approval for the discover card cause i just received my 2nd invite and dont want them to run my credit score and deny me cause my score is low cause i have my credit utilization a bit high but should down since i had a card raise my limit,

Re: Discover card minimum credit score for approval

FinStar — Fri, 25 May 2018 22:38:58 GMT

All things considered, I wouldn't place the score as the sole factor in determining an approval since it still boils down to your overall profile, income, etc.

Have you checked your CRs to determine whether your utilization improved with the CLI?

Re: Discover card minimum credit score for approval

Brian_Earl_Spilner — Fri, 25 May 2018 22:56:37 GMT

Scores are merely guidelines. The banks take everything into consideration. I was approved for a secured Discover at 512, which is way lower than others getting denied, but I also had 2 cards with 3 and 4 years history.

Re: Discover card minimum credit score for approval

Anonymous — Fri, 25 May 2018 23:52:37 GMT

Have you tried their pre-qualified site?

I checked the site for almost a year with no offers. Then last week I was finally prequalifed. Applied and got the Discover IT card (SL $1100). My EQ score was 651.

Of course, YMMV

Re: Discover card minimum credit score for approval

Anonymous — Sat, 26 May 2018 00:33:14 GMT

OP, what are your FICO scores? Have you gone to creditscorecard.com to get your free EX FICO 08? It's provided by Discover for free if you haven't yet.

Also, I suggest searching the credit pulls database and look at the low-end credit scores that people were approved/denied for the Discover card with. Along with their scores, you'll often see other pieces of information such as utilization, inquiries, baddies, etc. that could help you in finding a closer match to your profile and you can see how that person made out with their application.

Re: Discover card minimum credit score for approval

Albert_E63 — Sat, 26 May 2018 01:47:11 GMT

Well CK says i have 605 and just made an account at CSC and 644 and my should go from like 79% to like 50% but it hasn't updated since it only been like a week since.

Re: Discover card minimum credit score for approval

Albert_E63 — Sat, 26 May 2018 01:51:32 GMT

it doesn't affect your credit to fill up and check to see if you get pre approved ?

Re: Discover card minimum credit score for approval

Albert_E63 — Sat, 26 May 2018 01:56:12 GMT

Well i made the account and i got 644 and my utilization is 78% but beside that my credit got no late payment with 4 inquires in CSC but it shows like 5 or 6 in CK, Whats the difference between CK and CSC ?

Re: Discover card minimum credit score for approval

Anonymous — Sat, 26 May 2018 02:05:11 GMT

@Albert_E63Well CK says i have 605...

CK scores are irrelevant. FICO scores are all you should be concerned with when thinking about a Discover app since they use FICO scores, like most lenders.

Re: Discover card minimum credit score for approval

Albert_E63 — Sat, 26 May 2018 02:42:33 GMT

ohh alright so that could mean my credit score could of been higher when CK was showing me 720 few months ago before my utilization went ?

Re: Discover card minimum credit score for approval

Anonymous — Sat, 26 May 2018 02:52:39 GMT

@Albert_E63 wrote:
it doesn't affect your credit to fill up and check to see if you get pre approved ?

Nope.

ETA - just go to the pre-qualified page.

Re: Discover card minimum credit score for approval

Anonymous — Sat, 26 May 2018 04:27:32 GMT

Hello! I'm new to the forums but have been a frequent guest. While there are many factors that must be considered, checking your pre-qualification status is a solid start.

Re: Discover card minimum credit score for approval

Anonymous — Sat, 26 May 2018 05:42:44 GMT

I have high scores but short credit history. My scores are 740, 744, 739, and I have been declined for credit cards based on a short credit history. Whereas someone with scores 100 points lower than mine may get approvals if they have a lengthy credit history. The more I'm learning about credit, the more I'm realizing that scores mean less than I thought they did. Utilization, inquries, number of accounts being opened, average age of accounts have a much bigger impact to lenders.

Re: Discover card minimum credit score for approval

Anonymous — Sat, 26 May 2018 06:03:07 GMT

Those things above are very lender-specific. Not all lenders view short credit history the same way or feel it's a bigger deal than some of the other factors you mentioned above. For example, while Chase may fit the mold of not being welcoming of short credit history files, lenders like capital one and discover are quite accepting of those with short credit history.

Re: Discover card minimum credit score for approval

800who — Sat, 26 May 2018 10:59:57 GMT

Like others have said, score alone won't get your approved nor' denied. No lender looks at just one specific part of overall credit. I have seen instances where someone with a significantly low score get approved for something and as well as someone with a very high score get declined for things that they thought they would get without any issue because they had such a high score. When I was 18, my first credit score was 750, this was 6 months after I had established credit. I thought I was perfectly set up to get an auto loan on my own. When I applied I was being offered only double digit interest rates and I was confused, even though I had a good credit score the lenders were also looking at the fact that I was an 18 year old and only credit being a credit card for six months... that's not very reassuring. Look at your credit report, get your UTIL down and always try the pre-approvals!

Re: Discover card minimum credit score for approval

joltdude — Wed, 30 May 2018 14:20:03 GMT

@Anonymous wrote:
Those things above are very lender-specific. Not all lenders view short credit history the same way or feel it's a bigger deal than some of the other factors you mentioned above. For example, while Chase may fit the mold of not being welcoming of short credit history files, lenders like capital one and discover are quite accepting of those with short credit history.

Cap One, Discover, and even Amex are very welcoming of folks with short but clean credit histories....

Cap One also is very forgiving of being burned as well....

Re: Discover card minimum credit score for approval

Shooting-For-800 — Wed, 30 May 2018 13:34:58 GMT

I got $9k SL with less than 700 score but I had other high limit cards. Prequal seems solid.