topic Re: DISCOVER PRE APPROVED in Credit Cards

DISCOVER PRE APPROVED

Madyun1982 — Mon, 18 Feb 2019 15:03:41 GMT

Hello Everyone I went on the discover site and did their pre qualification

and it came back with to pre appoved offers.. I know I saw on here something about solid apr's but I'm nt sure what that is exactly

so I'm attaching pics of the 2 offers in hopes that someone can help me on if I should pull the trigger or not

Current Ex Fico is 690

10 inqs 2 are about to fall off and the others are over a year old

7 open cards 2% util

I currently have a discover card that I got when I was in the rebuild stage and it's not growing.. It'll be 2 years this april that I had the discover card. Any input would be greatly appreciated.. If I left out any data points that you guys may need to help me. Please let me know.

Thank you in advance

Re: DISCOVER PRE APPROVED

Anonymous — Mon, 18 Feb 2019 15:07:12 GMT

Those look solid. The APR listed is 25.24%, which is what’s meant by a solid APR. the other result is a range, such as seeing 17.24 - 20.24% - seeing that as opposed to a set APR is what is seen as a defining factor in your preapproval. It means they’ve dug in and decided yes, we can work with this person on these set terms. I’d say pull the trigger if you want the card, you look likely to get it.

Re: DISCOVER PRE APPROVED

Madyun1982 — Mon, 18 Feb 2019 15:14:04 GMT

Thank you.. I just wanted to be sure before I did it.

Also if you can tell me what's the difference between the 2 cards? is it just the balance transer and purchase terms?

Thank you

Re: DISCOVER PRE APPROVED

Anonymous — Mon, 18 Feb 2019 15:28:15 GMT

Unless you had just scrolled before the second screenshot, I’m not seeing the rotating 5% cash back category option listed in the second card’s terms. That what I would go after - the 5% cash back is a great perk. Currently it’s on grocery store spend. Second quarter is on gas, 3rd quarter is restaurants, and 4th quarter is wholesale clubs and Amazon. Then on your one-year anniversary, they add up all the cash back you’ve earned in the year and match it, essentially giving you 10% on the quarterlies and 2% on everything else. Unless you have a big BT planned that requires the 14 months on the second card, I’d take the first one with the 5% rotating categories. It adds up pretty fast.

Re: DISCOVER PRE APPROVED

Anonymous — Mon, 18 Feb 2019 15:30:55 GMT

This is one of the highest APRs I have seen from DSVR, but you wont pay anything unless you carry a balance.

I would look at what suits you. 0% Balance transfer would be the one I would use in my instance. Thats over a year extra to pay on exisiting debt.

DSVR is a great credit card company to do business with.

Re: DISCOVER PRE APPROVED

Madyun1982 — Mon, 18 Feb 2019 15:36:29 GMT

Thanks everyone.. This site and the info you gain from it is amazing!

Re: DISCOVER PRE APPROVED

Anonymous — Mon, 18 Feb 2019 15:37:33 GMT

I'm not seeing the terms for two cards. It looks like two screen shots of the terms from one card. Am I missing something?

Re: DISCOVER PRE APPROVED

Anonymous — Mon, 18 Feb 2019 15:44:29 GMT

The first offers a 6 month BT and the rotating categories. Second one has a 14 month BT term and no rotating category 5%.

Re: DISCOVER PRE APPROVED

Madyun1982 — Mon, 18 Feb 2019 15:46:41 GMT

@ The Brad ...One is for 6 months 0%.. Apr on purchases and and 18 mos on balance transfers

the is 0% Apr on purchases and balances for 14 mos.. That was the only difference I seen.. LOL I'm still pretty new to this so it couldve been other things that I didn't catch on the screenshot

Re: DISCOVER PRE APPROVED

Anonymous — Mon, 18 Feb 2019 15:50:56 GMT

@Anonymous wrote:
The first offers a 6 month BT and the rotating categories. Second one has a 14 month BT term and no rotating category 5%.

Ah, thanks. I didn't notice the 0% intro APR difference.

They both offer the 5% I believe. One is just scrolled down farther than the other. The "Plus, earn unlimited 1%..." language is identical in both.

Re: DISCOVER PRE APPROVED

UncleB — Mon, 18 Feb 2019 16:51:32 GMT

This thread is locked and closed to new messages.

The new thread can be found here: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Discover-Approved/m-p/5507402