topic Re: Question about Discover in Credit Cards

Question about Discover

Anonymous — Tue, 26 Mar 2013 05:55:04 GMT

Hi,

I am very confused about Discover. Tried searching but can't find any useful recent info, since most of it were about Discover More and I am not sure if they have the same or different undewriting requirements.

Is Discover inquiry sensitive?
Is their recon process relatively easy (like Chase), or is it inflexible?

They pull EQ right? I am in socal.

I just had an autoloan account that was opened feb 2013. Should I wait for a few more months before taking the plunge, or do it before my CSP gets reported to the CRAs? My EX FICO is 768. I have the monitoring service through Equifax as well, and my FAKO on it is 766, so I am not too worried about scores. I got declined by AMEX because of the new auto loan account that just got opened a month ago, and I don't want to apply for Discover to get turned down for the same reason.

What are your recommendations?

Thanks!

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 06:02:59 GMT

Hmm, I am in So Cal too and they pulled TU for me. They didn't seem to worry about my 9 inq's ( damn those GE cards) and my score was only 707. My AAOA was over 7 years, I had opened 6 cards in the last 4 mos prior to my approval.

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 06:08:56 GMT

the GE cards were all inquiries on TU as well?

some people told me they pull EQ.

But regardless of EQ / TU, they do not pull EX right? I just got 10 inquiries on my EX and I really dont want to add any to it, and plus I definitely am going to get rejected if they pull EX lol....

Should I do ahead and apply now? I have 1 new account reporting last month. Or should I wait for that auto loan account to be >3 months?

The statement just cut today so hopefully the new auto loan balance gets updated as well. I paid roughly 95% of my whole loan balance in 1 payment today Planning to drag the remaining 5% for a few more months to a year for it to report more in the meantime. So my current debt to balance ratio should be really good.

Re: Question about Discover

HiLine — Tue, 26 Mar 2013 06:11:33 GMT

You'd be hard pressed to find a prime credit card issuer that approves applications more easily.

I wouldn't expect a big credit limit though.

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 06:12:59 GMT

so it's pretty easy to get discover?

should i wait for a few more months before I apply to get a higher CL then? Or they just rarely start anyone out with a high CL but gives CLI over time as the account ages?

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 06:14:22 GMT

Yeah, all my GE from last year were on TU. when I applied, I thought they'd pull EQ, I was wrong. I know they can pull either just my luck they went for my GE laced report. If you wait, your auto loan balance will update. I wish I could give you a more definitive answer.

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 06:16:27 GMT

they wouldn't pull EX at all though right? Or it's kinda a YMMV thing or it depends on location?

Re: Question about Discover

HiLine — Tue, 26 Mar 2013 06:19:18 GMT

All Discover cards have the same underwriting standards, so any info you find about the More is applicable to the It. In fact you can even apply for the More with a signup bonus then convert to the It later.

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 06:20:29 GMT

You shouldn't have a problem with Discover. They are all over the map with CLs so YMMV. They only gave me $2500 but it could have been the inq's and all that new credit. It is my lowest CL but I don't mind because I like the 18 mo term, CS is great and its a great looking card.

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 06:39:40 GMT

do you know if their recon department is kinda on the flexible side like Chase? Or is it like Amex / Citibank?
I have a good hunch that I am going to have to call recon to get myself approved lol.

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 06:48:13 GMT

No you won't ! Your scores are much better than mine.

Re: Question about Discover

soILseminole — Tue, 26 Mar 2013 06:48:47 GMT

enharu,

from everything ive read here from other posts on discover, they are recon friendly. im calling tomorrow for a CLI

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 06:49:29 GMT

Idk, if you being self employed will make a difference- it shouldn't

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 06:56:22 GMT

haha i am not too worried about my scores, but i will most likely get a declined or pending message, due to my inquiries if they pull EX. I have a good hunch l have to call in to explain how i racked up so many inquiries (7 so far, 5 for auto, 1 for chase, 1 for amex) in the past 60 days.

If they pull EQ/TU, I probably still have to call in and explain about the new auto loan account. Argh.

They dont pull EX though, right?

And can I still apply for Discover More? All I see is the IT on their website

Re: Question about Discover

soILseminole — Tue, 26 Mar 2013 07:03:56 GMT

i was surprised they hit my TU. everyone says EQ 99% of the time. EQ is my ugly duckling report, i think u will be fine

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 07:06:59 GMT

Ah ok thanks!

I'm gonna call Chase to ask about Freedom in the morning before deciding which to apply.

I was gonna apply for Cash+ but was told US Bank pulls EX, so no go on that one for now.

If only my BCP was approved, I wouldn't be thinking of what other cards to get

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 07:09:46 GMT

Not sure why you are asking about More. It has better rewards/bonus categories.

Re: Question about Discover

Anonymous — Tue, 26 Mar 2013 07:13:37 GMT

oh someone else said they had better offers for more, thats why. i was just curious lol

Re: Question about Discover

09Lexie — Tue, 26 Mar 2013 07:15:09 GMT

No, you want 'It' lol

Re: Question about Discover

HiLine — Tue, 26 Mar 2013 07:17:50 GMT

@Anonymous wrote:
oh someone else said they had better offers for more, thats why. i was just curious lol

You'd have to apply on the phone. Ask for the $200 bonus.

Always want MORE!!!