topic Re: Discover More invitation...? in Credit Cards

Discover More invitation...?

Anonymous — Sat, 20 Feb 2010 03:52:44 GMT

I just got a Discover More invitation to apply in the mail, but I'm not even at 700 yet (scores in signature) and I've heard they're strict. I probably will get denied if I apply, right?

I also am hoping to try for a home loan this summer, so if the inquiry and/or adding new credit will hurt more than help, it's not something I would want to do right now. Any advice?

Re: Discover More invitation...?

MarineVietVet — Sat, 20 Feb 2010 04:03:54 GMT

@Anonymous wrote:
I just got a Discover More invitation to apply in the mail, but I'm not even at 700 yet (scores in signature) and I've heard they're strict. I probably will get denied if I apply, right?

I also am hoping to try for a home loan this summer, so if the inquiry and/or adding new credit will hurt more than help, it's not something I would want to do right now. Any advice?

You know your situation better than anyone else. If you feel uncomfortable about this then simply shred the offer and sleep well.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

Re: Discover More invitation...?

laz98 — Sat, 20 Feb 2010 05:57:17 GMT

as always, marinevietvet has solid advice. good luck with the home shopping!

Re: Discover More invitation...?

MsKiwi — Sat, 20 Feb 2010 06:17:43 GMT

@Anonymous wrote:
I just got a Discover More invitation to apply in the mail, but I'm not even at 700 yet (scores in signature) and I've heard they're strict. I probably will get denied if I apply, right?

I also am hoping to try for a home loan this summer, so if the inquiry and/or adding new credit will hurt more than help, it's not something I would want to do right now. Any advice?

If you are hoping for a home loan, I would not accept this offer. If you are attractive to them now, you will still be so after you close on a house. The house is way more important!

Re: Discover More invitation...?

Anonymous — Sat, 20 Feb 2010 07:36:26 GMT

Thank you all for the advice! I have a couple of low-limit cards that I use for reporting purposes, but don't need/want more credit (except for a home loan!). I don't want it if it won't help my scores, and it sounds like it won't. That's the input I was looking for. Thank you!!!

Re: Discover More invitation...?

Anonymous — Sat, 20 Feb 2010 10:13:48 GMT

@Anonymous wrote:
Thank you all for the advice! I have a couple of low-limit cards that I use for reporting purposes, but don't need/want more credit (except for a home loan!). I don't want it if it won't help my scores, and it sounds like it won't. That's the input I was looking for. Thank you!!!

Well of course there is no guarantee you will be approved. Even "pre-approved " solicitations are not always granted.

As far as going for a house, CONGRATULATONS!!!. It is far more valuable then any piece of plastic.

Message Edited by DickC on 02-20-2010 02:13 AM

Re: Discover More invitation...?

Anonymous — Sat, 20 Feb 2010 16:12:41 GMT

@Anonymous wrote:
I just got a Discover More invitation to apply in the mail, but I'm not even at 700 yet (scores in signature) and I've heard they're strict. I probably will get denied if I apply, right?

I also am hoping to try for a home loan this summer, so if the inquiry and/or adding new credit will hurt more than help, it's not something I would want to do right now. Any advice?
Like everyone else said its all a personal choice. Discover More is a fantastic card the excellent rewards. IMHO if you get the offer in the mail, your chances are decent (discover soft pulls like crazy). I personally think this because I never got a Discover card offers in the mail until I started pulling my FICOs up to around where your at. I applied my TU FICO (which who the pulled from for me) was about 717. After getting the card I lost 5 points from my EQ and gained almost 20 poinsts on my TU 98. Good luck on the card and the home.

Re: Discover More invitation...?

MarineVietVet — Sat, 20 Feb 2010 16:23:44 GMT

Have you opted out of pre-screened credit offers? That would remove some of the temptation.

http://www.optoutprescreen.com/opt_form.cgi

Re: Discover More invitation...?

Anonymous — Sat, 20 Feb 2010 16:59:15 GMT

@MarineVietVet wrote:
Have you opted out of pre-screened credit offers? That would remove some of the temptation.

http://www.optoutprescreen.com/opt_form.cgi

Good idea.