Another Discover CC

[Slabenstein]

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@Swatch wrote:

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@FinStar wrote:

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Was that previous account settled or was it uncollectable/unpaid?

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Yeah, unpaid. I thought I was forgiven since it had been 10 years and they gave me an unsecured card. And two CLIs since getting this card.

I will just forget about Discover for a while because of the info I was told above. I am focusing on a Chase business card for the best cashback.

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Since they gave you a new card recently, they're probably not holding the old CO against you anymore.  You could call or chat w/ a Disco rep and see if they can tell you anything about why you're getting a too-many-Discos message w/ only one card, but otherwise, yeah, I'd probably work on growing w/ other lenders for a bit and let Miss Disco simmer until she warms up more.  Nothing's really going to match double cash back on It CB's rotating categories, but you could look into 2%+ flat cb cards or category cb cards to complement what you're getting on your Ink.

[Slabenstein]

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@Swatch wrote:

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@Slabenstein wrote:

Is your current card secured or unsecured?

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It's unsecured.

I feel like their soft pull may be considering my student loans because of what the preapproval response said. I don't recall right now what it said, but a couple things might suggest they were worried about the student loans. Even though those are in closed status (not yet due). i.e. If my student loans were not considered at all, I feel like they wouldn't have put those reasons in the preapproval response.

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By closed status, do you mean that you've recently left school and but have yet to make your first payment?  Since you wouldn't have any late payments, the only way I'd think that SLs could negatively affect an approval would be if the monthly payment amount punched up your DTI too high.

[Anonymous]

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@Slabenstein wrote:

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@Swatch wrote:

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@Slabenstein wrote:

Is your current card secured or unsecured?

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It's unsecured.

I feel like their soft pull may be considering my student loans because of what the preapproval response said. I don't recall right now what it said, but a couple things might suggest they were worried about the student loans. Even though those are in closed status (not yet due). i.e. If my student loans were not considered at all, I feel like they wouldn't have put those reasons in the preapproval response.

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By closed status, do you mean that you've recently left school and but have yet to make your first payment?  Since you wouldn't have any late payments, the only way I'd think that SLs could negatively affect an approval would be if the monthly payment amount punched up your DTI too high.

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+1

No matter what, Disco tells me I am "sufficiently obligated" due to my defaulted SLs. Even if they werent, I guess they do not like 135k in SL with 135k income....

[Swatch]

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By closed status, do you mean that you've recently left school and but have yet to make your first payment?  Since you wouldn't have any late payments, the only way I'd think that SLs could negatively affect an approval would be if the monthly payment amount punched up your DTI too high.

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I think all of the bureaus show it as "CLOSED". I am enrolled so it's deferred, but it seemed like it was counting in my utilization or something. They said something about high balances and I only have one high balance besides student loans.

I guess "high balances" might just refer to the one just like "too many accounts" seems to refer to the one CC.

[Swatch]

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@Anonymous wrote:

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@Slabenstein wrote:

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By closed status, do you mean that you've recently left school and but have yet to make your first payment?  Since you wouldn't have any late payments, the only way I'd think that SLs could negatively affect an approval would be if the monthly payment amount punched up your DTI too high.

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+1

No matter what, Disco tells me I am "sufficiently obligated" due to my defaulted SLs. Even if they werent, I guess they do not like 135k in SL with 135k income....

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Defaulted should be very different from no late payments ever. But it may not be because they may be assuming I'll owe payments soon. I think I read that lenders may assume unless you prove that you won't have payments in the next 2 years or 1 year.

[Swatch]

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@Slabenstein wrote:

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Since they gave you a new card recently, they're probably not holding the old CO against you anymore.  You could call or chat w/ a Disco rep and see if they can tell you anything about why you're getting a too-many-Discos message w/ only one card, but otherwise, yeah, I'd probably work on growing w/ other lenders for a bit and let Miss Disco simmer until she warms up more.  Nothing's really going to match double cash back on It CB's rotating categories, but you could look into 2%+ flat cb cards or category cb cards to complement what you're getting on your Ink.

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I didn't do rotating categories. Just had 2% after the doubling for most purchases and 4% for a couple purchases. I don't yet have a Chase, Citi, BofA, etc so I am at 1% cashback for most purchases. I just want a Chase cashback card, but Chase doesn't seem as forgiving as Discover. I think Chase will approve me for business (and not approve me for personal). I'll live with a low CL if I have to.