DaveInAZ wrote:
Polina wrote:
Dave, was the discover mailer a pre-approval or a pre-qualified offer? How much time had elapsed at your approval from the time your BK discharged? I included Discover for $400 (which I mentioned in passing in another post tht I believe you responded to). I had tried previously for the unsecured and secured and was denied but had never received an invite to apply, just prequal on the website. Last year, I starting receiving weekly mailers, apped, and was denied (despite the agent almost guaranteeing me that the code I provided meant I would get an approval). Since then, I have been receiving mail invites on a weekly basis and even received the coveted ivory invite printed on high grade paper stock with a fixed APR. I didnt bite because of my past denials and the fact that they don't drop of my CRs until next year in March and November, but again am feeling tempted to apply, just out of sheer curiosity. I've got too many inquiries though, 6 on EQ, 9 on TU, and 7 on EX, 20 of these will be dropping by November. Should I wait to bite again until my inquiries drop?
I don't remember the exact wording, it was summer of 2015, but it came with a code & fixed APR and came in the fancy ivory embossed envelop & letter - we did a thread back then & folks who got the fancy paper invite were all approved, while invites on plain white paper were hit or miss, just like Discover's "pre-qual" page. I was just over 4 years post discharged in early 2015 when I first app'd & was denied (their unreliable pre-qual hadd indicated approval), I was 4 1/5 years post discharge when approved. The one major change on my CR between denial & approval was a new Bank of America CC - secured, but you can't know if a CC is secure or not from a CR, only the issuer knows. I did not include Discover in my BK, I'd never done business with them before. My IIB accounts were all on my CR back then, now they're all gone from TU (early exclusion) and only my non-reaffirmed mortgage on EQ & EX until Sept.
I don't recall reading that Discover is particularly inquiry sensitive, as I've said they have a really odd & unique system for approvals - some get approved 2 years post BK, others are denied 5 year post discharge, I will say that for my situation Discover is over rated, my CL is now $10.6k, but I don't use it that often - 1% rewards doesn't cut it, and the 5% quarterly categories are rarely something I spend much on, the Jan-Mar 5% for gas is when I use it the most, otherwise my use is for interest free (if PIF) cashback at Walmart & grocery stores - my small town bank closed 2 years ago and I won't pay a $3 ATM fee for a couple $20s.
If you really want it and you keep getting those invites you might give them one more shot.
Thanks for this detailed reply, it helps; I am going to shred the invite and continue my original plan of gardening. Maybe if I get the fancy invite again I'll try, but its really not worth burning an inquiry for curiosity's sake.
