topic Re: Discover IT in Credit Cards

Discover IT

Jarnog — Sat, 22 Feb 2014 06:23:45 GMT

Was wondering if anyone could give advice on approval odds?

I know that I would most likely get declined (595 TU score from here as of Jan 20th).

But my DW wants to app. She just pulled her TU score from here and it says 644. She currently has a few cards as follows:

Cap 1 Secured $300

Cap 1 Quicksilver One $500

NFCU goRewards $4000

NFCU Secured $600 (joint card with me)

And a couple of the "cart trick cards" $250 limit on all

I know I have read through the boards and seen people approved with less and most of the time they look at TU. We are in rebuild mode - about halfway thru it all, and would love to get "in" with Discover. Just hate to get that HP. She did try the pre-qualify thing, but no luck - just says we recommend this and shows the IT card.

She has a few baddies on her report, all medical and over 2 years old...we are working on those atm.

Utilization is around 30% total

And the cart cards and goRewards are basically new - 2 statements into those

Any advice is greatly appreciated

Re: Discover IT

Anonymous — Sat, 22 Feb 2014 08:06:55 GMT

I would say no chance.

Discover isn't BK friendly.

Re: Discover IT

Anonymous — Sat, 22 Feb 2014 08:16:04 GMT

I got approved for it after receiving a preapproved letter in the mail. They pulled TU which at the time was 652 with 11 baddies all 180 day lates from end of 2012- early 2013. I only had a capital one platinum with a $500 CL and a merrick bank card with a $550 CL, both with very high utilizations but on-time payments. They approved me for $500. I tried to recon for a higher ICL but was denied and told to wait 6 months. I am however happy to be about a part of the Discover family. It was my first prime card in almost 10 years after royally messing up my credit in college.

All of that to say she may have a shot at getting approved, but as with anything it's YMMV. Good luck to you both!

Re: Discover IT

DigitalArk — Sat, 22 Feb 2014 09:20:34 GMT

It is hard to say, YMMV...

Re: Discover IT

lg8302ch — Sat, 22 Feb 2014 09:47:22 GMT

@DigitalArk wrote:
It is hard to say, YMMV...

Discover is one of the most unpredictable lenders....similar to spinning the fortune wheel...Good luck !

Re: Discover IT

H4LO — Sat, 22 Feb 2014 11:41:03 GMT

Personally, I'd wait until they start sending you letters.

I kept getting them and finally took a dive when they had one of those nice sign up bonus offers.

Re: Discover IT

Justrebuilding — Sat, 22 Feb 2014 14:18:59 GMT

They pulled EQ for me when I applied last year. I had a score right around 640 and my 3 cap one cards and care credit. I was denied due to bk. I would try and get your util lower if you are going to try. That would boost the score too.

Re: Discover IT

Anonymous — Sat, 22 Feb 2014 14:25:11 GMT

Do you know how many inqs she has on her reports? How old are her cards? Discover isn’t necessarily "hard" to get but it’s not really one of the easiest cards to obtain either.. I app'd for a Discover numerous times in 3 years and was denied every time!

Re: Discover IT

tcbofade — Sat, 22 Feb 2014 16:24:02 GMT

They pulled EQ for wifey, and pulled EX for me...and we have the same address and last name...good luck!

Re: Discover IT

B335is — Sat, 22 Feb 2014 20:43:29 GMT

+1 to H4LO

I would consider apping with negs without an invitation or prequal from Discover a waste.

Re: Discover IT

Peter1142 — Sat, 22 Feb 2014 21:39:20 GMT

How accurate are their "preapprovals"? They say I am preapproved. I am going to make another app the same day.

Re: Discover IT

B335is — Sat, 22 Feb 2014 21:45:13 GMT

Discover is pretty accurate. Just read the pre qualified offer closely.

Re: Discover IT

Peter1142 — Sat, 22 Feb 2014 21:55:49 GMT

The offer I get in the mail is just an invitation to apply... on their website if I do the prequal search is says "preapproved".

Re: Discover IT

B335is — Sat, 22 Feb 2014 21:57:10 GMT

Sounds like they want you, if the feeling is mutual I would go for it!

Re: Discover IT

Peter1142 — Sat, 22 Feb 2014 22:00:27 GMT

ya it's mutual!! I want it! I've been in the garden over a year now the only inqs on my report are the mortgage inqs.

I am going to app a large 7.5k in Raymour in Flanigan, wondering which order to do them in. But I definitely also need a nice 0% intro APR card, the Lowes/Home Depot cards are 0% APR I think but why waste a new account and inq on that when all the prime cards (that I finally qualify for!) are 1+ year no interest.

Re: Discover IT

B335is — Sun, 23 Feb 2014 00:17:19 GMT

It probably doesn't matter what order Lowes/Home Depot and Discover occur, maybe do Discover first. Raymour and Flanigan appears to be backed by Wells Fargo and I can't speak knowledgeably on them. I would personally look for a 0% offer like Chase Freedom or Citi TYP so you're at least getting some rewards for your purchase plus the 0%

Re: Discover IT

Peter1142 — Sun, 23 Feb 2014 02:01:08 GMT

Yeah but the Raymour and Flanigan will give me up to 4 years no interest... Yes they are backed by Wells. I do not think they are picky. Sometimes I think they may ask for a little cash up front.

I wasn't going to do the Lowes as I didn't want to overdo it. My file is a little thin for a massive app spree and I will be having a new mortgage hit soon on my AAoA also.

Re: Discover IT

Eyisila — Sun, 23 Feb 2014 02:38:07 GMT

No BK on her file, if I stated that I apologize, didn't mean to.

We/she are working on the utility....should be around 10-15% by the end of March.

I meant to mention the Inq. She has 3...recent on the TU...I mention TU because it is her highest score that we know. Score watch shows EQ at 599. Don't know her EX score. The inquiries are for the goRewards, NavCheck (declined), and a Wal Mart card (declined, which still is odd to me but I digress ).

I appreciate all of the advice, and I realize that it is a virtual crap shoot with any creditor and trying to guage whether or not they will approve. But reading through the boards there was so much mixed bag information that I thought I would ask in my own thread.

Again, the more advice the better and it is greatly appreciated.

Re: Discover IT

Jarnog — Sun, 23 Feb 2014 02:42:51 GMT

@Eyisila wrote:
No BK on her file, if I stated that I apologize, didn't mean to.

We/she are working on the utility....should be around 10-15% by the end of March.

I meant to mention the Inq. She has 3...recent on the TU...I mention TU because it is her highest score that we know. Score watch shows EQ at 599. Don't know her EX score. The inquiries are for the goRewards, NavCheck (declined), and a Wal Mart card (declined, which still is odd to me but I digress ).

I appreciate all of the advice, and I realize that it is a virtual crap shoot with any creditor and trying to guage whether or not they will approve. But reading through the boards there was so much mixed bag information that I thought I would ask in my own thread.

Again, the more advice the better and it is greatly appreciated.

Sorry, this was me (Jarnog the OP)....forgot I was on my wife's account LOL.

But yea, what I said under her username. Also, I believe someone asked how old the cards were. The store (cart) cards are 2 months as is the goReward. The NFCU secured is 2+ years, Cap 1 Secured 2+years, Cap 1 Quicksilver one, 4 months.

Re: Discover IT

indiolatino61 — Sun, 23 Feb 2014 09:27:46 GMT

@Jarnog wrote:
Was wondering if anyone could give advice on approval odds?

I know that I would most likely get declined (595 TU score from here as of Jan 20th).

But my DW wants to app. She just pulled her TU score from here and it says 644. She currently has a few cards as follows:

Cap 1 Secured $300
Cap 1 Quicksilver One $500
NFCU goRewards $4000
NFCU Secured $600 (joint card with me)
And a couple of the "cart trick cards" $250 limit on all

I know I have read through the boards and seen people approved with less and most of the time they look at TU. We are in rebuild mode - about halfway thru it all, and would love to get "in" with Discover. Just hate to get that HP. She did try the pre-qualify thing, but no luck - just says we recommend this and shows the IT card.

She has a few baddies on her report, all medical and over 2 years old...we are working on those atm.
Utilization is around 30% total
And the cart cards and goRewards are basically new - 2 statements into those

Any advice is greatly appreciated

IMO, I think a 644 with some baddies is borderline. YMMV, as with all things credit, but perhaps if you got your util below 10% would help. The best of luck to you.