@Scupra wrote:"7. 11 Months after opening your CreditOne Card (6 Months after opening the CapitalOne card, after you get your CLI):
a. If you did NOT burn Discover Card in your BK, Apply for a DiscoverIT card (www.discover.com), take whatever counter-offer they give you. (www.discovercard.com)"
I think this step in the "how to bk to 700 in 24 months" thread is a little early in the rebuild process. While I do think and approval is possible, I don't think the odds are in our favor that soon. YMMV as always
Finally chiming in on this since it all happened while I was in the hospital...
Disco post BK (11 months post d/c, which is 13 post filing*) works if you didn't burn them and follow all the rest of the 7 to 700 plan. Primarily this means you have 2 revolving tradelines that are > 6mo old that you've never charged more than 10% on... 1 installment loan that's >6 mo old that you've never been late on and you've had zero inquiries in the past 6 months.
As for it being the exception rather than the rule: I wouldn't say that... but a lot of people (even people I work with face to face) will make "adjustments" to the 7 to 700 plan. Sometimes it's because they "need" a car, sometimes it's because they got suckered into a 0% store-card offer, sometimes it's that they've got a big balance reporting (or multiple balances reporting) when they apply. There's always something that's not quite on-plan and then they wonder what the problem is... why they couldn't get a Disco. When that happens I skip them over to Barclays for at least 6mo and come back to Disco once the Barclays account and inquiry age at least 6 months.
Personally, I think Disco is one of those banks that really wants to see patience in the rebuild.
@Anonymous the OP's case for this thread "I have just been approved for Barclays Visa(Apple version) for $2000" also if you look @ the siggy, there's a secured card in there, along with several toy-limit store cards. I think all of that taken together is why the application was declined. Primarily: account age, too many accounts since BK, recent inquiries. Secondarily: We all know that there's such a thing a toy-limit hell, as far as I've seen Disco's min TL is $1000 and the OPs current TLs just don't justify that, especially since there are so many of them.
Finally, on this, especially to do a balance transfer. If you have a big balance (or a lot of little ones) it only shows the bank that you're not following rule # 1 of credit: Buy only what you can afford to pay cash for, and PIF every single month.
Grassfeeder's post was spot-on. I would have told OP 100% to kill all the store cards, though.... I hate store cards. Kill some of that junk, go at least 6mo w/o any new accounts and/or inqs (and get a credit-builder loan if you don't have any installment loans) and I think you've got a pretty good chance at the Disco. YMMV though, OP is pretty far off the plan so I can't really predict what will happen.
-SM
*it would seem as though Disco likes to see 12mo+ from filing. I used "from discharge" in the guide because the timeline is based on discharge. All gov't mortgage restrictions are "from filing" so this isn't all that non-sequiter.
Starting Score: ~470 preBK(8/2010)
@SoulMaster wrote:
@Scupra wrote:"7. 11 Months after opening your CreditOne Card (6 Months after opening the CapitalOne card, after you get your CLI):
a. If you did NOT burn Discover Card in your BK, Apply for a DiscoverIT card (www.discover.com), take whatever counter-offer they give you. (www.discovercard.com)"
I think this step in the "how to bk to 700 in 24 months" thread is a little early in the rebuild process. While I do think and approval is possible, I don't think the odds are in our favor that soon. YMMV as always
Finally chiming in on this since it all happened while I was in the hospital...
Disco post BK (11 months post d/c, which is 13 post filing*) works if you didn't burn them and follow all the rest of the 7 to 700 plan. Primarily this means you have 2 revolving tradelines that are > 6mo old that you've never charged more than 10% on... 1 installment loan that's >6 mo old that you've never been late on and you've had zero inquiries in the past 6 months.
As for it being the exception rather than the rule: I wouldn't say that... but a lot of people (even people I work with face to face) will make "adjustments" to the 7 to 700 plan. Sometimes it's because they "need" a car, sometimes it's because they got suckered into a 0% store-card offer, sometimes it's that they've got a big balance reporting (or multiple balances reporting) when they apply. There's always something that's not quite on-plan and then they wonder what the problem is... why they couldn't get a Disco. When that happens I skip them over to Barclays for at least 6mo and come back to Disco once the Barclays account and inquiry age at least 6 months.
Personally, I think Disco is one of those banks that really wants to see patience in the rebuild.
@Anonymous the OP's case for this thread "I have just been approved for Barclays Visa(Apple version) for $2000" also if you look @ the siggy, there's a secured card in there, along with several toy-limit store cards. I think all of that taken together is why the application was declined. Primarily: account age, too many accounts since BK, recent inquiries. Secondarily: We all know that there's such a thing a toy-limit hell, as far as I've seen Disco's min TL is $1000 and the OPs current TLs just don't justify that, especially since there are so many of them.
Finally, on this, especially to do a balance transfer. If you have a big balance (or a lot of little ones) it only shows the bank that you're not following rule # 1 of credit: Buy only what you can afford to pay cash for, and PIF every single month.
Grassfeeder's post was spot-on. I would have told OP 100% to kill all the store cards, though.... I hate store cards. Kill some of that junk, go at least 6mo w/o any new accounts and/or inqs (and get a credit-builder loan if you don't have any installment loans) and I think you've got a pretty good chance at the Disco. YMMV though, OP is pretty far off the plan so I can't really predict what will happen.
-SM
*it would seem as though Disco likes to see 12mo+ from filing. I used "from discharge" in the guide because the timeline is based on discharge. All gov't mortgage restrictions are "from filing" so this isn't all that non-sequiter.
Good information in there
@TRC2k13 wrote:
@Scupra wrote:I Reallyyyyyy want "IT"
I'm curious... what's so great about Discover IT? I mean, what can I do with that card that I can't do with any of my MC or VISA accounts?
I found this https://www.discover.com/credit-cards/member-benefits/ but that isn't any different than what I have now on some of my other accounts...
I personally like the 5% categories, reward redemption on Amazon and the fact that Discover is viewed as a prime lender. It may be more of trophy rather than the bestcard in the world 
@Scupra wrote:
@TRC2k13 wrote:
@Scupra wrote:I Reallyyyyyy want "IT"
I'm curious... what's so great about Discover IT? I mean, what can I do with that card that I can't do with any of my MC or VISA accounts?
I found this https://www.discover.com/credit-cards/member-benefits/ but that isn't any different than what I have now on some of my other accounts...
I personally like the 5% categories, reward redemption on Amazon and the fact that Discover is viewed as a prime lender. It may be more of trophy rather than the bestcard in the world
That's cool. I've read they aren't BK friendly even past 24 months post discharge... so I'm not even gonna bother.
I'm in the garden for 2 years... my 13 drops off in early 2016 as well... then I'm golden.
@TRC2k13 wrote:That's cool. I've read they aren't BK friendly even past 24 months post discharge... so I'm not even gonna bother.
Categorically un-true statement. They are not fans of the rushed post-BK rebuild, but BK7 people who follow the 7 to 700 plan to the letter you can absolutely* get a Disco 13mo Post Filing (11 mo past discharge).
-SM
*alot of people "tweak" the plan, a lot of them get denied. For my people I've worked with that have followed the plan precisely (and have never had a Disco before), I've NEVER seen one denied (and have seen more than 100 post-BK approvals).
@TRC2k13 wrote:
BTW, the "not BR friendly" statement I read right here on these forums... a thread about whether or not someone should apply for Discover.
This doesn't suprise me at all. There's a lot of really good stuff on these forums written by a lot of people who really know what they're talking about. Unfortunately, there's a lot of nonsense people need to sift through to get to the gold.
-SM
@Mads8 wrote:Anyone had a success with a recon to the Discover it? I had a bankruptcy discharge 7/2012 & have built my credit up since then. I have just been approved for Barclays Visa(Apple version) for $2000 & I can't understand why they aren't taking me under consideration....I just called the recon number and they said well our system automatically declines you and we can't do anything. Is there a better number to call? I took the hit so I need to try and get a better answer than that. Help please!
Wait 6 months more and give it a shot, thats how I got mine after I had gotten the barclay card.
