topic Re: Discover App w/ Collections in Credit Cards

Discover App w/ Collections

Mgilbert8605 — Fri, 18 Apr 2014 15:24:21 GMT

I'm on a mini app spree today. So far I've had luck w/ 2 out of 3 apps (trying to find a working EO/Recon number for Citi). I would love to get the Discovet IT card but idk how strict they are. Has anyone gotten approvals with collections on their report? My EQ Fico is 662 and I've had perfect payment history for almost 4 years now but I have 3 collections on my report. 1 will be falling off in a few weeks though. Should I try to apply or wait it out?

Re: Discover App w/ Collections

axledobe — Fri, 18 Apr 2014 15:32:24 GMT

@Mgilbert8605 wrote:
I'm on a mini app spree today. So far I've had luck w/ 2 out of 3 apps (trying to find a working EO/Recon number for Citi). I would love to get the Discovet IT card but idk how strict they are. Has anyone gotten approvals with collections on their report? My EQ Fico is 662 and I've had perfect payment history for almost 4 years now but I have 3 collections on my report. 1 will be falling off in a few weeks though. Should I try to apply or wait it out?

I would try their preapproval link. If you get an offer, I'd jump on it. If not, you might consider waiting until the derog falls off. Your EQ score is certainly in range for an approval based on others I've read.

Good luck if you app.

Re: Discover App w/ Collections

Mgilbert8605 — Fri, 18 Apr 2014 15:35:36 GMT

No offer is there for me under pre-approval link. I got a pre-approval letter from them a little under 2 years ago. My score was in the 500s then. I apped and got denied. Since then, I never got another pre-approval offer.

Re: Discover App w/ Collections

axledobe — Fri, 18 Apr 2014 15:49:23 GMT

If I had to guess, it'll be a double pull (EQ and TU). If your income is good, util is low, don't have a plethora of new accounts/inquiries, you might just get it. They are a tough one to crack. I hate to say it but with the IT card, you really don't know until you apply. I'm 50/50 on your chances. Waiting on that baddie to fall off can't hurt you.

Re: Discover App w/ Collections

Mgilbert8605 — Fri, 18 Apr 2014 16:09:48 GMT

Thanks for your replies. I think I am going to wait it out. This morning, I got approved for Chase Freedom but only with a $500 limit. I think I'll let that report for 6 months, request an increase and then apply for the IT. By then, most of my collections will be gone. I don't want to waste 2 hard pulls. Now I just need to resist the urge and go in the garden :-)

Re: Discover App w/ Collections

CreditExpressNJ — Fri, 18 Apr 2014 17:38:33 GMT

I'd say give it a shot i just got approved with them with 1 paid charge off and 1 paid collection.... And my EQ is no were near as good as your EQ is by far my lowest score...

Re: Discover App w/ Collections

RCFL — Sat, 19 Apr 2014 07:20:42 GMT

I tried the pre qual link and they couldn't match me with any offer but I pulled the trigger anyway. First, I got the 5-7 days message but called the next day and talked to a very nice human credit analyst. She approved with me 3.5k. I didnt have any collections but have BK on file. If you want to, you should apply. Good luck...

Re: Discover App w/ Collections

bk510 — Sat, 19 Apr 2014 07:38:59 GMT

@Mgilbert8605 wrote:
I'm on a mini app spree today. So far I've had luck w/ 2 out of 3 apps (trying to find a working EO/Recon number for Citi). I would love to get the Discovet IT card but idk how strict they are. Has anyone gotten approvals with collections on their report? My EQ Fico is 662 and I've had perfect payment history for almost 4 years now but I have 3 collections on my report. 1 will be falling off in a few weeks though. Should I try to apply or wait it out?

I think that depends on how recent your other 2 collections are. Wait out on the other definately.

I just got approved fot IT. I do have a 1 collection showing that was reported on 5/24/13. ($284).

Look at my sig.

Re: Discover App w/ Collections

TVP125 — Sat, 19 Apr 2014 22:51:23 GMT

I too have some collections from long ago on my credit and have applied for Discover two times in the last 3 months. The first was a solid denial and the second was a denial but they counter-offered with the IT secured card which according to them will graduate after 12 months of good payments

Re: Discover App w/ Collections

Mgilbert8605 — Sat, 19 Apr 2014 13:47:59 GMT

I got the itch and applied....It was denied. I'll just try again at the end of this year.

Re: Discover App w/ Collections

btswamper — Sat, 19 Apr 2014 22:24:13 GMT

I applied for the discover it card last night thinking I would be instantly denied because I have 3 collection accounts, 1 foreclosure, and 1 auto repo (all from 2008). I was definitely surprised when it was approved.
The approval did not give my credit limit, so I called and asked. The rep told me my limit was $800.00 and that I would have to wait 3 months to get a cli. Definitely not a credit limit to be proud of, but I did get in the door.
5 minutes later I applied for the Chase Freedom and was approved for $4500.00 limit. Go figure.
My EX fako: 672 EQ fako: 683 walmart fico: 689

Re: Discover App w/ Collections

bk510 — Sun, 20 Apr 2014 01:26:33 GMT

@TVP125 wrote:
I too have some collections from long ago on my credit and have applied for Discover two times in the last 3 months. The first was a solid denial and the second was a denial but they counter-offered with the IT secured card which according to them will graduate after 12 months of good payments

My understanding is their secured card does not graduate. I could be wrong.

Re: Discover App w/ Collections

baller4life — Sun, 20 Apr 2014 01:44:45 GMT

Apparently it officially graduates now after 12 months.