topic Re: What are my chances for Discover It. in Credit Cards

What are my chances for Discover It.

mripguru — Sun, 26 May 2013 10:01:19 GMT

As the title suggests - I'm wondering what my chances might be for a Discover It card approval based on scores below?

If I do get denied - do I have any recourse to have them review the application for approval?

Re: What are my chances for Discover It.

CreditJunkie917 — Sun, 26 May 2013 10:17:00 GMT

What does the rest of your profile look like? And baddies? That would give a better indication on your chances. Can't qualify approval chances on scores alone.

Re: What are my chances for Discover It.

mripguru — Sun, 26 May 2013 10:24:03 GMT

All of my baddies are paid up (though some are recent - all under $1k though).

I have a Cap One CC (Secured) - but, that's about it.

Re: What are my chances for Discover It.

CreditJunkie917 — Sun, 26 May 2013 10:49:28 GMT

based on the info you've provided, and seeing that you only have the one cc, I would say your chances are slim. That's good that you have paid on your baddies, but if they are recent, that will hurt you. How long have you had your cc for? How many inquiries in the past year?

Re: What are my chances for Discover It.

mripguru — Sun, 26 May 2013 10:55:18 GMT

4-5 inq's in the past year.

CC is fairly recent..... 2-3 months.

Re: What are my chances for Discover It.

Anonymous — Sun, 26 May 2013 12:52:01 GMT

what kind of derogs do you have?

Re: What are my chances for Discover It.

FocusedAndDetermined — Sun, 26 May 2013 17:35:58 GMT

I would suggest waiting 6 to 12 mos. put some distance between you and your recent baddies, and give your card/inquiries time to age. Your TU (which IT pulled for me) and expecially you EX are low. Let score move up before you app.

Re: What are my chances for Discover It.

Anonymous — Sun, 26 May 2013 22:51:22 GMT

You can always recon.

Re: What are my chances for Discover It.

LS2982 — Sun, 26 May 2013 22:54:07 GMT

@CreditJunkie917 wrote:
based on the info you've provided, and seeing that you only have the one cc, I would say your chances are slim. That's good that you have paid on your baddies, but if they are recent, that will hurt you. How long have you had your cc for? How many inquiries in the past year?

I agree, your likely to get flat out declined and have to recon, if that is successful it will be a toy limit.

Why is your EX score so low?

Re: What are my chances for Discover It.

mtrsprt — Sun, 26 May 2013 22:54:22 GMT

I tried for Discover IT. Got shot down totally. All my baddies are paid, and over 4 years old.... Past 2 years rebuilding with flawless current history......6 accounts, all in great standing and low utilization also.....

They dislike baddies.......

Id say you have a 1/100 chance......

Re: What are my chances for Discover It.

kevinjjc — Mon, 27 May 2013 02:52:27 GMT

@Anonymous wrote:
You can always recon.

It's not easy to recon with Discover.

Re: What are my chances for Discover It.

09Lexie — Mon, 27 May 2013 02:56:10 GMT

Discover is not like Chase.

Re: What are my chances for Discover It.

Anonymous — Mon, 27 May 2013 02:57:20 GMT

Recon doesn't ever mean guaranteed approval either, even for Chase.

Re: What are my chances for Discover It.

Anonymous — Mon, 27 May 2013 06:04:50 GMT

I have been reading the forums and I recently did an app spree. I applied for five cards, got approved for four, discover it was one of them i was approved for, and actually my highest credit limit of all my cc's.

Someone stated they do not like baddies, I am not so sure about that, or maybe I am not all that versed on what a baddie is, but I had several late payments on cards, two of them 120 days late (horrible i know, but i was young then), but those are 4 years old right now. I guess what did things for me, was the fact that I had paid off ALL of my credit cards (all of them opened, and closed) and my scores were on avg across the board 650.. So i would say keep hope alive, you just may get approved, I was actually suprised I was, and then to see the amount as well.

Re: What are my chances for Discover It.

Anonymous — Mon, 27 May 2013 06:24:45 GMT

I'm just saying recon will at least give you a chance.

Re: What are my chances for Discover It.

Anonymous — Mon, 27 May 2013 11:22:21 GMT

I agree with the others but I was taught not to apply unless I am almost sure I will be approved. Two weeks ago I was approved for Discover it my score at the time was 700 they sent it attached with your limit. I had one credit card that thank God reports that I actually used an old offer to transfer the balance and my car payment is with Chase. I had no other credit but I don't think they like negative items personally I would clear them up then apply. Credit karma showed it as a offer with my chances being good I expected to be approved for 3-5k I was approved for 13k.

Re: What are my chances for Discover It.

ezdoesit — Mon, 27 May 2013 11:40:55 GMT

@Anonymous wrote:
I have been reading the forums and I recently did an app spree. I applied for five cards, got approved for four, discover it was one of them i was approved for, and actually my highest credit limit of all my cc's.

Someone stated they do not like baddies, I am not so sure about that, or maybe I am not all that versed on what a baddie is, but I had several late payments on cards, two of them 120 days late (horrible i know, but i was young then), but those are 4 years old right now. I guess what did things for me, was the fact that I had paid off ALL of my credit cards (all of them opened, and closed) and my scores were on avg across the board 650.. So i would say keep hope alive, you just may get approved, I was actually suprised I was, and then to see the amount as well.

I would disagree you situation is totally different. Even you said that they were almost 4 yrs old and when his are very recent so on fico scoring your baddie holds less weight on your score than his. Your scores are also almost 100 points higher. Why waste a HP when his chances are slim to none even with recon. Plus I am sure that his Aaoa is lower than yours can't be sure because he never gave that info. Like someone said wait like 6 months to a yr. and see your scores are then. You should only apply if you feel your chances are good, according to most peoples opinion that is not the case.

Re: What are my chances for Discover It.

Anonymous — Mon, 27 May 2013 12:24:48 GMT

Best advice would be to wait for 4-6 months and have your CapOne report a good payment history.

One HP is not going to kill your FICO score. In case you are not approved and even recon does not work then atleast you would know why Discover is rejecting you.

Re: What are my chances for Discover It.

qd — Thu, 06 Jun 2013 17:32:45 GMT

I'm not the OP, but I wish I would have listened to the advice given re: Discover IT. I applied and was denied instantly yesterday. I called recon number and was told it was due to public record on my report. It was 2 HP with them pulling both EX & EQ. EQ does not show the public record, but EX does. It is satisfied and from 2009. I got overly excited with my scores going up so much in recent months that I thought I had a chance. They also said too many new accounts recently and I suspect this is what sealed the deal for me. I have 7 INQ on EX and 10 on EQ with 4 new accounts opened two months ago. It is hard to stay in the garden, but I think a freeze is in order for me for at least the next six months...enjoy the auto CLIs I get and stay patient...lesson learned.

Time to work on that public record removal

Re: What are my chances for Discover It.

gettingthere2013 — Thu, 06 Jun 2013 17:47:15 GMT

@qd wrote:
I'm not the OP, but I wish I would have listened to the advice given re: Discover IT. I applied and was denied instantly yesterday. I called recon number and was told it was due to public record on my report. It was 2 HP with them pulling both EX & EQ. EQ does not show the public record, but EX does. It is satisfied and from 2009. I got overly excited with my scores going up so much in recent months that I thought I had a chance. They also said too many new accounts recently and I suspect this is what sealed the deal for me. I have 7 INQ on EX and 10 on EQ with 4 new accounts opened two months ago. It is hard to stay in the garden, but I think a freeze is in order for me for at least the next six months...enjoy the auto CLIs I get and stay patient...lesson learned.

Time to work on that public record removal

Did you pull your scores located in your Sig from Myfico?