Accuracy of Discover Pre-Qual

[Anonymous]

How accurate is the pre-qual page for Discover? It gave the Discover Student card for me when I put in my information. Scores are EX-607, TU 590, EX 580. I am no longer a student, and I marked that on the app. I am looking for one more card before I enter the garden to let those accounts age. I got the Quicksilver One a couple weeks ago. I am hoping to close down Credit One within the next few months. I am wondering if it may be better to shoot for the Discover secured. I am kicking myself for closing down my 2 year old Discover in 2013. I was really young and thought that it was a great idea to close a card I was barely using.

I did put my boyfriend's info in to the Discover pre-qual page (we are working on his credit a GREAT deal). His score is 438. It gave him the regular Discover It card! I highly doubt it. 

Any advice or feedback? 

TY!

[austinguy907]

Chances are with your scores you're both better off with the secured one.  If it gave you a solid APR or a small range of 3% difference there's a chance of approval.

[Anonymous]

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@austinguy907 wrote:

Chances are with your scores you're both better off with the secured one.  If it gave you a solid APR or a small range of 3% difference there's a chance of approval.

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I more or less second this.

There are tons of posts suggesting that Discover pre-quals are bogus, but in my own experience as long as you get a 3% range (or exact % if that is possible from them?) you will be approved.

If you check and they give you a larger than 3% range for APR, I would not bother applying at that time.

[Anonymous]

Thank you for your feedback.

I went back to the page and this is what it says..

Yours for no annual fee.*

0% Intro APR† for 6 months on purchases.

Then 13.49% – 22.49% Standard Variable Purchase APR applies.

I am not sure what that means in terms of approval or not.

I may wait to see if my scores bump up into the low 600's next week when capital one reports my premium card balance from 414.34 on my 600 CL line to a 0 balance as I paid it off today.

[Anonymous]

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@Anonymous wrote:

Thank you for your feedback.

I went back to the page and this is what it says..

Yours for no annual fee.*

0% Intro APR† for 6 months on purchases.

Then 13.49% – 22.49% Standard Variable Purchase APR applies.

I am not sure what that means in terms of approval or not.

I may wait to see if my scores bump up into the low 600's next week when capital one reports my premium card balance from 414.34 on my 600 CL line to a 0 balance as I paid it off today.

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With that APR range and your scores?  Secured.

[Anonymous]

definitely means you should go for the secured card if anything. I might suggest just waiting and getting your credit cleaned up before even bothering Discover.

[Anonymous]

Secured. Be good and in 7 mo you will have an unsecured card anyway the way they have been going. Same card-same rewards-same benefits. It's really a great product for ppl who wouldn't qualify for the unsecured. Gl

[AverageJoesCredit]

Id also caution there is no gaurentee that theyll even offer secured. In all my attempts with Discover, they only tried to push co applicant not once was i evened offered secured so .... Id wait to your scores are a bit higher.

[Anonymous]

Thank you everybody.

I think I will wait it out for a bit. I was hoping to get both inquires within the same two weeks because I read on here that it was better for your score, but I do not want a denial. I was approved for the QS1 last week with a start limit of 3,000 so I think it got my hopes up. I will pay on that card for a few months as well as my student loans which I start paying in April and try for Discover when I see a score bump. Any feedback on what numbers are good for the secured? I don't mind being patient and waiting out the 7 months to get it unsecured. I just want to get rid of credit one. 

The simulator on here said my score would jump a boat load, 607-657 (EX), by paying off my platinum card which I did yesterday. My platinum card doesn't report until the 24th. Is the simulator on here accurate? That seems like a big jump (not that I wouldn't take it). My overall util is low, that card was near was limit though. 

TY for all your feedback. 

EDIT- Never mind, I figured out the simulator. It had me paying it over 24 months but I PIF yesterday. It changed it to a 15 score point bump. I'd still take it though.  

[joltdude]

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@austinguy907 wrote:

Chances are with your scores you're both better off with the secured one.  If it gave you a solid APR or a small range of 3% difference there's a chance of approval.

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I saw the infamous solid APR offers for a family member... Still dissapointed in said member for not grabbing it.. Trying to remember the exact number it was either 10.24 or 11.24 for discover.. Lowest rate iv seen on an offer for a non CU card... pretty sure it was 10.24. I knew when I saw it I was absolutely floored.. Yes.. I wanted to dopesmack him for not applying...

Wish theyd courted me with those tasty aprs

-J