topic Re: Discover IT Secured? in Credit Cards

Discover IT Secured?

Anonymous — Mon, 18 Aug 2014 01:41:34 GMT

How would I go about getting the Discover IT Secured?

I have applied before and got denied for the Discover IT but, I didn't get the option for the Secured.

Is this something they don't offer anymore?

Re: Discover IT Secured?

Closingracer99 — Mon, 18 Aug 2014 01:42:14 GMT

They offer it but you need to be declined for the regular IT card first

Re: Discover IT Secured?

myjourney — Mon, 18 Aug 2014 01:43:36 GMT

The card is not offered to everyone who is declined unfortunately

Re: Discover IT Secured?

Anonymous — Mon, 18 Aug 2014 01:44:42 GMT

@myjourney wrote:
The card is not offered to everyone who is declined unfortunately

Should I try to apply for the Discover IT and see if they offer it to me?

Re: Discover IT Secured?

myjourney — Mon, 18 Aug 2014 01:46:17 GMT

@Anonymous wrote:
@myjourney wrote:
The card is not offered to everyone who is declined unfortunately
Should I try to apply for the Discover IT and see if they offer it to me?

More info needed

Scores (Fico)

Baddies

Other TL's

AAoA

Re: Discover IT Secured?

Closingracer99 — Mon, 18 Aug 2014 01:46:23 GMT

@Anonymous wrote:
@myjourney wrote:
The card is not offered to everyone who is declined unfortunately
Should I try to apply for the Discover IT and see if they offer it to me?

How long ago did you apply and do you have any other history?

Re: Discover IT Secured?

Vivid — Mon, 18 Aug 2014 01:50:20 GMT

No. From what I read It doesn't unsecure. That makes it a no go if you ask me...Plus it sounds like you could waste a hard pull and still not get offered either.

Re: Discover IT Secured?

jsucool76 — Mon, 18 Aug 2014 01:58:47 GMT

Yeah it is basically a counter offer when applying. In my opinion, not worth it to apply for anything if you think you're going to get denied.

Back in the day (please someone correct me if this is no longer true) the BoA secured seemed to be the best secured card out there because it A) graduated, and B) you could get the 1-2-3 rewards on it.

The cap1 card was also decent because (once again, correct me if I'm wrong) didn't report as a secured card, but rather as a regular credit card, so you could pop a good chunk of change into it and it would appear on your credit report as a regular credit card.

Also, I believe SDFCU offered a secured card that didn't require a hard pull to acquire. Not sure if this is still the case. Perhaps some others could chime in.

Re: Discover IT Secured?

myjourney — Mon, 18 Aug 2014 02:02:50 GMT

@jsucool76 wrote:
Yeah it is basically a counter offer when applying. In my opinion, not worth it to apply for anything if you think you're going to get denied.

Back in the day (please someone correct me if this is no longer true) the BoA secured seemed to be the best secured card out there because it A) graduated, and B) you could get the 1-2-3 rewards on it.

The cap1 card was also decent because (once again, correct me if I'm wrong) didn't report as a secured card, but rather as a regular credit card, so you could pop a good chunk of change into it and it would appear on your credit report as a regular credit card.

Also, I believe SDFCU offered a secured card that didn't require a hard pull to acquire. Not sure if this is still the case. Perhaps some others could chime in.

Right on all 3 juscool

Re: Discover IT Secured?

AvadaKedavra — Mon, 18 Aug 2014 02:05:23 GMT

@jsucool76 wrote:
Yeah it is basically a counter offer when applying. In my opinion, not worth it to apply for anything if you think you're going to get denied.

Back in the day (please someone correct me if this is no longer true) the BoA secured seemed to be the best secured card out there because it A) graduated, and B) you could get the 1-2-3 rewards on it.

The cap1 card was also decent because (once again, correct me if I'm wrong) didn't report as a secured card, but rather as a regular credit card, so you could pop a good chunk of change into it and it would appear on your credit report as a regular credit card.

Also, I believe SDFCU offered a secured card that didn't require a hard pull to acquire. Not sure if this is still the case. Perhaps some others could chime in.

The Discover IT secured also graduates and you get the cash back on it. The only downside is if you're even lucky enough to get the counter offer you only have a short amount of time to accept which may limit the amount of money you can put on for the secured version...I think I only had two days to accept.

Re: Discover IT Secured?

taxi818 — Mon, 18 Aug 2014 02:07:03 GMT

Yes you are right. And cap 1 only needs between. 49-99 bucks. Depends on credit worthiness. But I don't think you will ever see that 49 again.

Re: Discover IT Secured?

bigblue7722 — Mon, 18 Aug 2014 02:26:04 GMT

I dont understand the discover it secured card at all. Why would they offer a card you cant apply for? Why do they offer some people a joint account option when they apply for just a regular card? IDK im just not a huge fan of discover anymore i guess. I think they should do more than chase freedom to get my business and they really dont.

Re: Discover IT Secured?

Anonymous — Mon, 18 Aug 2014 02:26:10 GMT

@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
The card is not offered to everyone who is declined unfortunately
Should I try to apply for the Discover IT and see if they offer it to me?

More info needed
Scores (Fico)
Baddies
Other TL's
AAoA

Depends on which report. I only have the scores based on Quizzle, Experian's score, and CreditKarma. I just opened a secured card with Merrick Bank which is reporting. I have an installment loan opened that was $1000 something and have been paying on it. 2 -3 payments have been reported. I'm about to make another payment of $175 ($102/monthly is what is due) which isn't due until September 2nd but, I'm paying it before cause they report at the end of the month to the CRA's.

Yes, I have baddies. But, every CRA has different ones reporting. So it depends on which. I been working on getting things off and paying collections off and doing a PTD.

Re: Discover IT Secured?

myjourney — Mon, 18 Aug 2014 02:32:47 GMT

@Anonymous wrote:
@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
The card is not offered to everyone who is declined unfortunately
Should I try to apply for the Discover IT and see if they offer it to me?

More info needed
Scores (Fico)
Baddies
Other TL's
AAoA
Depends on which report. I only have the scores based on Quizzle, Experian's score, and CreditKarma. I just opened a secured card with Merrick Bank which is reporting. I have an installment loan opened that was $1000 something and have been paying on it. 2 -3 payments have been reported. I'm about to make another payment of $175 ($102/monthly is what is due) which isn't due until September 2nd but, I'm paying it before cause they report at the end of the month to the CRA's.

Yes, I have baddies. But, every CRA has different ones reporting. So it depends on which. I been working on getting things off and paying collections off and doing a PTD.

You have enough TL's to build upon

What's in your best interest currently is working on CR's for best results.

What was the reason for denial the first time if you don't mind sharing?

Re: Discover IT Secured?

myjourney — Mon, 18 Aug 2014 02:34:03 GMT

Double post Oooops

Re: Discover IT Secured?

newhis — Mon, 18 Aug 2014 02:38:30 GMT

@bigblue7722 wrote:
I dont understand the discover it secured card at all. Why would they offer a card you cant apply for? Why do they offer some people a joint account option when they apply for just a regular card? IDK im just not a huge fan of discover anymore i guess. I think they should do more than chase freedom to get my business and they really dont.

I think they are on a 'test phase'. They are changing from Discover Fin to Discover Bank also. I guess they will release a general secured card to the public at some point.

Re: Discover IT Secured?

AvadaKedavra — Mon, 18 Aug 2014 02:52:12 GMT

I just actually cancelled my Discover IT Secured. I never used it and the CL was too low ($300). Got it in March when I was still rebuilding but since have gotten Chase, Citi and Amex. Was thinking of downsizing anyways.

Re: Discover IT Secured?

keithbward — Mon, 18 Aug 2014 03:27:33 GMT

I was offered the Discover IT after being declined due to my final collection account, I should've waited another week when it was deleted but I had my utilization down to 2% and thought I had a legit shot with my TU jumping to the 712. You have like 3 days to accept I think. I did it instantly and was on the fence of putting down $500 and $1000. I had decided to PFD the collection so I only did $500. The only thing I don't like is you can't add anymore to your initial deposit later. Otherwise it would be stellar in my opinion being able to up my credit limit and having it graduate in about a year's time.

Re: Discover IT Secured?

Anonymous — Mon, 18 Aug 2014 03:50:57 GMT

@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
The card is not offered to everyone who is declined unfortunately
Should I try to apply for the Discover IT and see if they offer it to me?

More info needed
Scores (Fico)
Baddies
Other TL's
AAoA
Depends on which report. I only have the scores based on Quizzle, Experian's score, and CreditKarma. I just opened a secured card with Merrick Bank which is reporting. I have an installment loan opened that was $1000 something and have been paying on it. 2 -3 payments have been reported. I'm about to make another payment of $175 ($102/monthly is what is due) which isn't due until September 2nd but, I'm paying it before cause they report at the end of the month to the CRA's.

Yes, I have baddies. But, every CRA has different ones reporting. So it depends on which. I been working on getting things off and paying collections off and doing a PTD.

You have enough TL's to build upon
What's in your best interest currently is working on CR's for best results.
What was the reason for denial the first time if you don't mind sharing?

Well, I just ordered a 2015 Audi A3. So, I want get good financing on it and the car is coming in within 3 months which is when they're going to do the financing for the car. I'd like to get approved for a better interest rate then having to put so much down. Want get my score up to a 620 or higher in the next 3 months to get better interest rate on the car.

Re: Discover IT Secured?

myjourney — Mon, 18 Aug 2014 03:58:22 GMT

@Anonymous wrote:
@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
The card is not offered to everyone who is declined unfortunately
Should I try to apply for the Discover IT and see if they offer it to me?

More info needed
Scores (Fico)
Baddies
Other TL's
AAoA
Depends on which report. I only have the scores based on Quizzle, Experian's score, and CreditKarma. I just opened a secured card with Merrick Bank which is reporting. I have an installment loan opened that was $1000 something and have been paying on it. 2 -3 payments have been reported. I'm about to make another payment of $175 ($102/monthly is what is due) which isn't due until September 2nd but, I'm paying it before cause they report at the end of the month to the CRA's.

Yes, I have baddies. But, every CRA has different ones reporting. So it depends on which. I been working on getting things off and paying collections off and doing a PTD.

You have enough TL's to build upon
What's in your best interest currently is working on CR's for best results.
What was the reason for denial the first time if you don't mind sharing?
Well, I just ordered a 2015 Audi A3. So, I want get good financing on it and the car is coming in within 3 months which is when they're going to do the financing for the car. I'd like to get approved for a better interest rate then having to put so much down. Want get my score up to a 620 or higher in the next 3 months to get better interest rate on the car.

Even more reason not to apply for any CC's and lowering scores as a result of a HP and work on your CR's .....IMHO

Congrats on the new car