topic Re: Question about discover it card in Credit Cards

Question about discover it card

Booboo71 — Thu, 27 Mar 2014 23:57:30 GMT

I'm not applying for them right now since I applied back in February 2014 but my question is , I see people who have filed bankruptcy and are able to now get discover and other major credit cards and I don't understand how? I have never filed bankruptcy or burn these companies but I am unable to get approved for them whereas others have done this but can re-establish or even start a relationship with these companies. I know my inquires are killing me but can someone explain to me how others have this ability..

On a side note.... I'm not saying if someone has filed bankruptcy they shouldn't have an opportunity to gave a cc with the major banks or credit issuers but I want to understand

thank you

Re: Question about discover it card

xXIDaShizIXx — Thu, 27 Mar 2014 23:58:32 GMT

*Sigh* Us secured card users wonder the same thing.

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 00:32:25 GMT

Lol yes! I finally got my boa card to unsecure in February after11 months! I still have capital 1 it's my oldest and I can't close it right now because of the age. I also have a usbank secured that turns 1 year in April but I can't unsecure it because it will be a hard pull.

Re: Question about discover it card

Stralem — Fri, 28 Mar 2014 00:46:59 GMT

@Booboo71 wrote:
I see people who have filed bankruptcy and are able to now get discover and other major credit cards and I don't understand how? I have never filed bankruptcy or burn these companies but I am unable to get approved for them whereas others have done this but can re-establish or even start a relationship with these companies. I know my inquires are killing me but can someone explain to me how others have this ability..

Income.

Current balances.

Current credit limits.

Payment history.

Number of inquiries.

Age of said inquiries.

Average age of accounts.

Raw credit score.

Size of monthly payments.

Debt to income ratio.

Length of credit history.

Mix of credit types.

...

Need I go on?

It's the whole picture that matters.

Re: Question about discover it card

jsucool76 — Fri, 28 Mar 2014 00:49:21 GMT

@Stralem wrote:
@Booboo71 wrote:
I see people who have filed bankruptcy and are able to now get discover and other major credit cards and I don't understand how? I have never filed bankruptcy or burn these companies but I am unable to get approved for them whereas others have done this but can re-establish or even start a relationship with these companies. I know my inquires are killing me but can someone explain to me how others have this ability..

Income.

Current balances.

Current credit limits.

Payment history.

Number of inquiries.

Age of said inquiries.

Average age of accounts.

Raw credit score.

Size of monthly payments.

Debt to income ratio.

Length of credit history.

Mix of credit types.

...

Need I go on?

It's the whole picture that matters.

^^^^

All of these things matter.

If you don't mind me asking, what is your income? How many inquiries do you have? How old is your oldest account? What's your AAoA?

Re: Question about discover it card

Stralem — Fri, 28 Mar 2014 01:04:08 GMT

@jsucool76 wrote:
If you don't mind me asking, what is your income?

It floats somewhere between $16k/yr and $30k/yr, depending on how much work I can pull in between classes and other life commitments.

@jsucool76 wrote:
How many inquiries do you have?

TransUnion: 15. 1 aged off completely this month. 5 turn 1 year old next month.

Equifax: 8. 5 turn 1 year next month.

Experian: 6. 1 fell off this month. 2 turn 1 year next month.

@jsucool76 wrote:
How old is your oldest account?

4 years.

@jsucool76 wrote:
What's your AAoA?

1 year.

@jsucool76 wrote:
What do you like to do in your free time?

mod edit~ Lexie

Re: Question about discover it card

gdale6 — Fri, 28 Mar 2014 01:01:21 GMT

All about 1 thing and that is RISK...

Re: Question about discover it card

jsucool76 — Fri, 28 Mar 2014 01:04:51 GMT

@Stralem wrote:
@jsucool76 wrote:
What do you like to do in your free time?
Mod edit

That made me laugh! haha

With that many inquiries, i'd say it's best for you to stay out of appworld. Once they all age off, you should be good to apply for some cards. And even if some people have a BK, if their income is still fairly high, a bank might offer them a card.

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 01:06:07 GMT

52400

1800

Mine $20k with authorized accounts $ 48k (roughly)

boa123 5k, macys1200, bloomingdales 1200, capital1secured 500, sony 500, gte visa 800, usbank 300 secured, care credit 3k, lowes 5k, tjx300, oldnavy200, gap 200,

smart connect 400, walmart 700, express 250, coldwater creek 700, kohls 300. Authorized on husbands united mileage 17k, amex hilton honors 2.5 and dillards amex 2800

34 inquires on equifax age too many this year bulk in November / dec

rebuilding since November 2012 started at 524 equifax

Now lowered to 1 year was at 2.2 years

Debt/income. Vw credit on audi losing is one year my husband put large payment down for me because my vw jetta was upside down slightly because it was under 1 year and my score was at 580ish at the time.

shall I give my blood type Also??? Lol. J/k

Re: Question about discover it card

Stralem — Fri, 28 Mar 2014 01:08:53 GMT

Well... I wasn't planning on applying for anything.

Are you talking to the OP? He's the one getting bockclocked by lenders.

...

Wow, did that really call for a mod edit?

Re: Question about discover it card

09Lexie — Fri, 28 Mar 2014 01:09:26 GMT

@Booboo71 wrote:
52400

1800

Mine $20k with authorized accounts $ 48k (roughly)

boa123 5k, macys1200, bloomingdales 1200, capital1secured 500, sony 500, gte visa 800, usbank 300 secured, care credit 3k, lowes 5k, tjx300, oldnavy200, gap 200,
smart connect 400, walmart 700, express 250, coldwater creek 700, kohls 300. Authorized on husbands united mileage 17k, amex hilton honors 2.5 and dillards amex 2800

34 inquires on equifax age too many this year bulk in November / dec

rebuilding since November 2012 started at 524 equifax

Now lowered to 1 year was at 2.2 years

Debt/income. Vw credit on audi losing is one year my husband put large payment down for me because my vw jetta was upside down slightly because it was under 1 year and my score was at 580ish at the time.

shall I give my blood type Also??? Lol. J/k

Looks like that's your problem. Too many inq's, new TLs on a rebuilding credit profile.

A bk is a serious derog and the mere prescence on your CR's will make you look more at risk plus the high inq's and new TLs to a conservative lender is a red flag.

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 01:11:17 GMT

I know now I cannot app for anything it's instant denile because of my inquires... My income is 52400 that's not including my husband . My husband keeps telling me I have to pay the car off faster then what is given to me and stop applying for cards.. I just want my own discover, chase and amex is the ultimate for me.

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 01:12:32 GMT

I'm a female not a man. I'm the original poster.

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 01:15:07 GMT

Hi Lexie .. I don't have a bankruptcy. Only crazy inquires and a few collections

Re: Question about discover it card

09Lexie — Fri, 28 Mar 2014 01:18:02 GMT

@Booboo71 wrote:
Hi Lexie .. I don't have a bankruptcy. Only crazy inquires and a few collections

That is what I get for skimming!

The first part of my post still stands; too many inq's/TLs for a conservative lender

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 01:20:56 GMT

So if being an authorized user on my husbands chase united, amex and dillards is that hurting me

Re: Question about discover it card

09Lexie — Fri, 28 Mar 2014 01:40:23 GMT

@Booboo71 wrote:
So if being an authorized user on my husbands chase united, amex and dillards is that hurting me

What were the reasons given by Discover?

Re: Question about discover it card

Booboo71 — Fri, 28 Mar 2014 01:45:40 GMT

Collections and inquires