topic Re: Approval Odds for Secured DiscoverIT? in Credit Cards

Approval Odds for Secured DiscoverIT?

ddemari — Mon, 28 Jul 2014 17:17:57 GMT

I really want the DiscoverIT card but my fico is too low around 655, has anyone been countered with the secured card with a score like that?

My current utilization is 2%, AAOA is 5 years, History 12 years, I have a bk that will fall off in November of this year and a collection from 2008.

I also have 7 inquires on Equifax and 8 on TransUnion. In Illinois, it will either be a EQ or TU pull... I know too many inquires

Re: Approval Odds for Secured DiscoverIT?

Anonymous — Mon, 28 Jul 2014 17:31:47 GMT

@ddemari wrote:
I really want the DiscoverIT card but my fico is too low around 655, has anyone been countered with the secured card with a score like that?

My current utilization is 2%, AAOA is 5 years, History 12 years, I have a bk that will fall off in November of this year and a collection from 2008.

I also have 7 inquires on Equifax and 8 on TransUnion. In Illinois, it will either be a EQ or TU pull... I know too many inquires

u might get a discover unsecured just apply and see u dont have many inquires

Re: Approval Odds for Secured DiscoverIT?

ddemari — Mon, 28 Jul 2014 17:37:34 GMT

I am very tempted. I applied back in May and was declined. The reasons being Bankruptcy/ collection charge off.

Since then, I was able to get my secured bank of america cash rewards card unsecured with a 3x credit limit increase to 3k.

That may look attractive if I did a recon through manual review and my FICO Bankcard TU Score is 670 in the good range but myfico TU score 655 in the not good range. I am itching for the Discover card but dont want to lose the points of a hardpull and decline... I wish had some patience! Thanks for your reply.

Re: Approval Odds for Secured DiscoverIT?

Anonymous — Mon, 28 Jul 2014 17:40:03 GMT

@ddemari wrote:
I am very tempted. I applied back in May and was declined. The reasons being Bankruptcy/ collection charge off.

Since then, I was able to get my secured bank of america cash rewards card unsecured with a 3x credit limit increase to 3k.

That may look attractive if I did a recon through manual review and my FICO Bankcard TU Score is 670 in the good range but myfico TU score 655 in the not good range. I am itching for the Discover card but dont want to lose the points of a hardpull and decline... I wish had some patience! Thanks for your reply.

just try it i called discover and they are very nice they will offer u the secured if not

Re: Approval Odds for Secured DiscoverIT?

ddemari — Mon, 28 Jul 2014 17:42:24 GMT

Did you apply online and get the 7-10 day message and call them for a recon? If you do not mind me asking, what was your FICO score?

Re: Approval Odds for Secured DiscoverIT?

coldnmn — Mon, 28 Jul 2014 17:43:33 GMT

If it was me I would wait until November after bankruptcy falls off and try for the unsecured. Good Luck whatever you decide!

Re: Approval Odds for Secured DiscoverIT?

Anonymous — Mon, 28 Jul 2014 17:43:41 GMT

I got the discover student and yes they said 7-10 days verifed my scores are 630-670 no negatives they are low because of high balances 69% ult!!

Re: Approval Odds for Secured DiscoverIT?

jim44 — Mon, 28 Jul 2014 17:55:12 GMT

Did you burn Discover in your BK? I had three Discovers.. two from DFS prior to my BK. All had perfect payment history, one had a zero balance, however I burned them on one card. Maybe you should wait until November when the BK falls off and try again. Even with the CO, you still may be approved for a unsecured.

Re: Approval Odds for Secured DiscoverIT?

Kenny — Mon, 28 Jul 2014 17:56:15 GMT

@Anonymous wrote:
I got the discover student and yes they said 7-10 days verifed my scores are 630-670 no negatives they are low because of high balances 69% ult!!

Utilization you can control.. the baddies are already done. Get that utilization down and you might get approved when that happens. (For unsecured.)

Re: Approval Odds for Secured DiscoverIT?

ddemari — Mon, 28 Jul 2014 17:59:49 GMT

I never burned Discover in the BK. My revoling utilization is 2% on EQ and 1% on TU and EX.

Re: Approval Odds for Secured DiscoverIT?

sjt — Mon, 28 Jul 2014 18:27:07 GMT

@ddemari wrote:
I never burned Discover in the BK. My revoling utilization is 2% on EQ and 1% on TU and EX.

I would go ahead and apply. If you are counter offered and invited to apply for the secured card, you are automatically approved. Note once you make your deposit it will be set and you will not be able to increase it.