topic Re: Bit the bullet and applied for Discover It today.... in Credit Cards

Bit the bullet and applied for Discover It today....

Anonymous — Wed, 01 May 2013 03:04:43 GMT

Hi everyone! I am new to this form and super excited I'm not the only one that is neuotic about my credit score, lol! Well let me give you all some background. I currently work for Discover and finally decided to go ahead and apply for the dang card simply because our building only accepts cash and discover in the cafeteria. I never carry cash and having to stop at a Chase ATM once a week was getting very annoying. So finally after 7 months I go ahead and apply for the IT card. Well, I have a score of 773 with Transunion, Experian and Equifax. I get the dreaded "Your application is being processed and we will contact you within 5-7 days" message. I was so irritated so I called the "backdoor" number that I found while lurking around on this forum : ) Well, since I am an employee they were not allowed to pull up my application. WHAT?! I am so mad, I usually get instant approval for everything! I am not sure if this is because I opened my AmEx Gold card last week or if it is just because I am an employee and they are super nosy.

Anyways, my question is how much do you think my score is going to drop from having two inquiries this month from AmEx and Discover? I really hope I don't regret this decision. Thanks guys!!

Re: Bit the bullet and applied for Discover It today....

Anonymous — Wed, 01 May 2013 03:28:17 GMT

You worry to much with that score lol wish i had it. Dont worry they will give you the card. Hell I got one.

Your score wont matter cause in a couple months it will have regain what it lost and then some

Re: Bit the bullet and applied for Discover It today....

Anonymous — Wed, 01 May 2013 03:31:25 GMT

haha you'll get there don't worry! i guess i'm more nervous because I work there and I see how stingy we are with credit lines and whatnot. So I'm sure if I do get approved it will only be like a $500 limit or something ridiculous. Oh well I wasn't planning on making it my primary card or anything lol

Re: Bit the bullet and applied for Discover It today....

Anonymous — Wed, 01 May 2013 03:33:35 GMT

I think with your limits you will prolly get 5k or more they gave me $1.700 off the top.

Re: Bit the bullet and applied for Discover It today....

09Lexie — Wed, 01 May 2013 03:34:31 GMT

Welcome to the forum!

Good luck on your app!

The credit risk models of all the banks have a business r...

fearlessdragon — Wed, 01 May 2013 03:34:38 GMT

The credit risk models of all the banks have a business rule which says to take a second look at the application when a bank insider applies for the same bank Credit card or Loan. This is also for legal Compliance to make sure sure everyone treats equally.

Re: The credit risk models of all the banks have a business r...

Anonymous — Wed, 01 May 2013 03:36:34 GMT

Thanks Fearless, didn't know that! Good to know! Just wish they'd hurry up I'm getting impatient

Re: The credit risk models of all the banks have a business r...

fearlessdragon — Wed, 01 May 2013 03:38:33 GMT

I totally understand your eagerness.... Dont worry. Your profile looks good..

Re: Bit the bullet and applied for Discover It today....

LS2982 — Wed, 01 May 2013 10:55:26 GMT

@Anonymous wrote:
Hi everyone! I am new to this form and super excited I'm not the only one that is neuotic about my credit score, lol! Well let me give you all some background. I currently work for Discover and finally decided to go ahead and apply for the dang card simply because our building only accepts cash and discover in the cafeteria. I never carry cash and having to stop at a Chase ATM once a week was getting very annoying. So finally after 7 months I go ahead and apply for the IT card. Well, I have a score of 773 with Transunion, Experian and Equifax. I get the dreaded "Your application is being processed and we will contact you within 5-7 days" message. I was so irritated so I called the "backdoor" number that I found while lurking around on this forum : ) Well, since I am an employee they were not allowed to pull up my application. WHAT?! I am so mad, I usually get instant approval for everything! I am not sure if this is because I opened my AmEx Gold card last week or if it is just because I am an employee and they are super nosy.

Anyways, my question is how much do you think my score is going to drop from having two inquiries this month from AmEx and Discover? I really hope I don't regret this decision. Thanks guys!!

Welcome to the forums!!!

LOL at them holding your app up because your an employee!!! What difference is that supposed to make!

Re: Bit the bullet and applied for Discover It today....

boomhower — Wed, 01 May 2013 12:06:54 GMT

With your scores and history you are fine. It's an approval but evidently being and employee is triggering a closer look evidently. I'd be surprised if you get less than $5k.

Re: Bit the bullet and applied for Discover It today....

youngandcreditwrthy — Thu, 02 May 2013 03:40:35 GMT

I got approved with an initial $4k line with a 688 EQ
Unless your relationship with Discover adversely affects your application,
You should be

APPROVED 😄

Re: Bit the bullet and applied for Discover It today....

Anonymous — Fri, 03 May 2013 00:20:22 GMT

Y'all were right! I was approved with a $5,000 credit line! The employee 7.99% APR isn't bad either (even though I pay it in full so this doesn't really matter lol). Yay!!

Re: Bit the bullet and applied for Discover It today....

parakleet — Fri, 03 May 2013 00:22:44 GMT

Wow. That 7.99 is very impressive! Congrats!

Re: Bit the bullet and applied for Discover It today....

Anonymous — Fri, 03 May 2013 00:33:32 GMT

Thank you! At first I didn't anticipate to use this card much at all since my primary reason for wanting it is because they only accept cash and discover in the cafeteria and having to stop at the ATM was a real pain. But I'll see how I like the card and I just may use it more than expected. Right now I put most of my charges on my American Express Gold.

Re: Bit the bullet and applied for Discover It today....

Anonymous — Fri, 03 May 2013 00:34:39 GMT

Any guesses as to how many points my scores are going to drop after opening two new accounts during the month of April? Ahhh....

Re: Bit the bullet and applied for Discover It today....

myjourney — Fri, 03 May 2013 00:41:55 GMT

Congrats

Re: Bit the bullet and applied for Discover It today....

Rhaeny — Fri, 03 May 2013 01:18:31 GMT

Congrats on that approval and nice CL!!!

And since everyone's credit profile is different it is impossible to guess how many points your score will drop if it does. Heck your score just may bump up some. I wouldn't worry about it at all. You've got what you wanted and little more with that nice APR so just be happy .

Re: Bit the bullet and applied for Discover It today....

Anonymous — Fri, 03 May 2013 01:39:10 GMT

I guess about 30, all other things being the same.

Re: Bit the bullet and applied for Discover It today....

Anonymous — Fri, 03 May 2013 01:49:21 GMT

30 points?! really?!

Re: Bit the bullet and applied for Discover It today....

indiolatino61 — Fri, 03 May 2013 02:37:47 GMT

@Anonymous wrote:
Hi everyone! I am new to this form and super excited I'm not the only one that is neuotic about my credit score, lol! Well let me give you all some background. I currently work for Discover and finally decided to go ahead and apply for the dang card simply because our building only accepts cash and discover in the cafeteria. I never carry cash and having to stop at a Chase ATM once a week was getting very annoying. So finally after 7 months I go ahead and apply for the IT card. Well, I have a score of 773 with Transunion, Experian and Equifax. I get the dreaded "Your application is being processed and we will contact you within 5-7 days" message. I was so irritated so I called the "backdoor" number that I found while lurking around on this forum : ) Well, since I am an employee they were not allowed to pull up my application. WHAT?! I am so mad, I usually get instant approval for everything! I am not sure if this is because I opened my AmEx Gold card last week or if it is just because I am an employee and they are super nosy.

Anyways, my question is how much do you think my score is going to drop from having two inquiries this month from AmEx and Discover? I really hope I don't regret this decision. Thanks guys!!

The score drop for 2 inquires will rebound in a couple of months most likely, so don't worry.