topic Re: Discover it help,!!!!!!! in Credit Cards

Discover it help,!!!!!!!

Emeraldautomotive — Fri, 04 Jul 2014 01:17:54 GMT

I have received my denial letter for discover it, reasons are

% of balance to credit limit too high on revolving accounts

length of time accounts have been established

proportion of loan balances to loan amounts is too high.

what is the best action to get an approval?

what are discovers requirements: ie: # of inquires

utilization%

credit score?

Re: Discover it help,!!!!!!!

Kenny — Fri, 04 Jul 2014 02:41:04 GMT

The reasons are relative to your situation.

The recommendation is no more than 30% utilization on any one trade line.

Discover isn't too terribly sensitive to inquiries.

Credit score: I've seen some 650+ approvals.

What is your average age of accounts? Total debt vs open credit limit? Inquiries on each bureau?

Re: Discover it help,!!!!!!!

MT936 — Fri, 04 Jul 2014 04:21:44 GMT

When I got my discover it I had a 730 fico score and had 2 hard inquiries from a amex blue cash and a chase freedom opened 4 months prior to applying for the discover it. I think it would really help to pay off your balances so you are at least 10% utilization and then re apply at least 30 days later

Re: Discover it help,!!!!!!!

TheFate — Fri, 04 Jul 2014 06:49:03 GMT

Whenever you app for a card its always best to bring your Utilization down to 1-9% with only 1 card reporting

Re: Discover it help,!!!!!!!

SnackTrader — Fri, 04 Jul 2014 08:37:20 GMT

@Emeraldautomotive wrote:
I have received my denial letter for discover it, reasons are
% of balance to credit limit too high on revolving accounts
length of time accounts have been established
proportion of loan balances to loan amounts is too high.

what is the best action to get an approval?
what are discovers requirements: ie: # of inquires
utilization%
credit score?

Answer: Pay down your debt. It looks like Discover is scared of how much debt you correctly have and doesn't want to give you any more.

Re: Discover it help,!!!!!!!

Anonymous — Fri, 04 Jul 2014 08:54:47 GMT

@Emeraldautomotive wrote:
I have received my denial letter for discover it, reasons are
% of balance to credit limit too high on revolving accounts
length of time accounts have been established
proportion of loan balances to loan amounts is too high.

what is the best action to get an approval?
what are discovers requirements: ie: # of inquires
utilization%
credit score?

Before I applied with them I made sure to pay off all of my credit cards to the max.

How long have your accounts been open?

Aren't loan balances and loan amounts the same?

I knew that I was atleast a 650+ on all the reports....

My good credit accounts were open for at least 2 years each and had/have a student loan too for like 4k which I pay interest on...

Approved