topic Re: FNBO Discover Starting Limits? in Credit Cards

FNBO Discover Starting Limits?

Anonymous — Mon, 05 Nov 2012 01:27:37 GMT

I have until the end of November to decide what to do with this FNBO Discover "pre approval".

When I got it, I was pretty sure I'd pass on it (I've passed on the others that they've sent me) but I kept it anyway, just in case... Now it's eating at me ever so slowly. I can hear it calling my name from the plastic file under my desk lol

I'm curious, those of you who have been approved through an FNBO pre approval (Discover or otherwise) what were your starting limits and what was your credit profile like at the time? I've looked through a number of threads and PMd some people who sounded like they might have apped, but I figure I can get more feedback this way

Right now I'm something like:

3-4 inquiries on each report (all 6+ months old now except for one on TU from a Barclays success today)

AAoA of 3 years

5 new accounts in 2012 (all 6+ months old now, although depending on how quickly Barclays reports that one would be brand new)

Score 703 as of early September

Util 18% or less (would be closer to 12% if I waited for Barclays to report, but my AAoA would drop of course)

3 old derogs due to fall off in 2013/2014 (One paid CO, two unpaid collections)

Thanks!

Re: FNBO Discover Starting Limits?

youngandcreditwrthy — Mon, 05 Nov 2012 01:31:34 GMT

My approval stats:
688 eq fico
3 yrs aaoa
12% util
Reported income $100k+
Total credit lines then:$70k
Student loans: $30k
One paid, disputed co from 2008, 0 bal.

... This got me a $4,000 initial limit.

Re: FNBO Discover Starting Limits?

Anonymous — Mon, 05 Nov 2012 01:49:46 GMT

Thanks so much for your input

Re: FNBO Discover Starting Limits?

youngandcreditwrthy — Mon, 05 Nov 2012 01:51:08 GMT

Yw :-)
They also told me no cli for at least six months lol :-/

Re: FNBO Discover Starting Limits?

resilient — Mon, 05 Nov 2012 01:56:21 GMT

I received an invite in the mail in September because I had recently purchased a Chrysler (they back the card). I have a 12 year credit history, 7 year AAoA then, EQ was between 675-700, I had one 5 year old HSBC card, $300, 3 year old Military Star Card $4775, with a balance of about $3500, a lot of student loans paid as agreed, and auto loan that's current. Income stated was $75k. I received a $4,100 credit line, with a 14.99% APR.

Re: FNBO Discover Starting Limits?

RonDawg — Mon, 05 Nov 2012 05:26:07 GMT

@Anonymous wrote:
I have until the end of November to decide what to do with this FNBO Discover "pre approval".

When I got it, I was pretty sure I'd pass on it (I've passed on the others that they've sent me) but I kept it anyway, just in case... Now it's eating at me ever so slowly. I can hear it calling my name from the plastic file under my desk lol

I'm curious, those of you who have been approved through an FNBO pre approval (Discover or otherwise) what were your starting limits and what was your credit profile like at the time? I've looked through a number of threads and PMd some people who sounded like they might have apped, but I figure I can get more feedback this way

Right now I'm something like:
3-4 inquiries on each report (all 6+ months old now except for one on TU from a Barclays success today)
AAoA of 3 years
5 new accounts in 2012 (all 6+ months old now, although depending on how quickly Barclays reports that one would be brand new)
Score 703 as of early September
Util 18% or less (would be closer to 12% if I waited for Barclays to report, but my AAoA would drop of course)
3 old derogs due to fall off in 2013/2014 (One paid CO, two unpaid collections)

Thanks!

Did you read on how much you have to spend to qualify for the 5% back on that discover card? its like over 10k I get like a pre-approval from them like 2 times a month for this card.

Terms:

Each Year.

$0-$2500 = 0.50%

$2500-$9,999.99 = 1%

$10,000-$13750.01 = 5%

Over $13750.02 = 1%

But if you put major money on the card I suppose it would be worth it. At least for a little bit.

Re: FNBO Discover Starting Limits?

Anonymous — Mon, 05 Nov 2012 13:10:16 GMT

@RonDawg wrote:

Did you read on how much you have to spend to qualify for the 5% back on that discover card? its like over 10k I get like a pre-approval from them like 2 times a month for this card.

Terms:

Each Year.

$0-$2500 = 0.50%

$2500-$9,999.99 = 1%

$10,000-$13750.01 = 5%

Over $13750.02 = 1%

But if you put major money on the card I suppose it would be worth it. At least for a little bit.

I'm not in it for the rewards, I'm in for the additional util help if the CL is worth the pull - hence the research hehe