DISCOVER pre-qual accurate? Do I have a good shot?

[Anonymous]

These forums are very helpful, and I want to get a 3rd card to help my credit score, and I like the 5% rotating categories and good growth potential with DISCOVER. Also heard they like thin profiles. Let me know if this seems accurate and if I have a good shot.

Credit Scores 688-701

2 inquiries on each, no baddies, 100% on-time, 1% util

Oldest acc 8.3 mo, AAoA 3.3 mo

Income $20,000 (part-time income as student)

Capital One QS ($750), Amex BCE ($1,000) (3x CLI in a week, I would wait for that to report)

Is it a good idea to put that i'm not a student just so i am able to grow my card easier? Does it matter? What type of limit do you think I'll get?

Great Offer

• No Annual Fee

• 0% Intro Purchase APR for 14 months and then 19.49% Standard Variable Purchase APR.

• 0% Intro Balance Transfer APR for 14 months from date of first transfer, for transfers under this offer that post to your account by October 10, 2017 and then 19.49% Standard Variable Purchase APR.

• 3% of the amount of each transfer 

[Anonymous]

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@Anonymous wrote:

These forums are very helpful, and I want to get a 3rd card to help my credit score, and I like the 5% rotating categories and good growth potential with DISCOVER. Also heard they like thin profiles. Let me know if this seems accurate and if I have a good shot.

Credit Scores 688-701

2 inquiries on each, no baddies, 100% on-time, 1% util

Oldest acc 8.3 mo, AAoA 3.3 mo

Income $20,000 (part-time income as student)

Capital One QS ($750), Amex BCE ($1,000) (3x CLI in a week, I would wait for that to report)

Is it a good idea to put that i'm not a student just so i am able to grow my card easier? Does it matter? What type of limit do you think I'll get?

Great Offer

• No Annual Fee

• 0% Intro Purchase APR for 14 months and then 19.49% Standard Variable Purchase APR.

• 0% Intro Balance Transfer APR for 14 months from date of first transfer, for transfers under this offer that post to your account by October 10, 2017 and then 19.49% Standard Variable Purchase APR.

• 3% of the amount of each transfer 

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I think you have a good shot. Be honest on your app. If your a student then your a student. 

They are more conservative with their starting lines. Good luck.

[Anonymous]

Their pre-approval tool is VERY unreliable. 

[austinguy907]

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@Anonymous wrote:

Is it a good idea to put that i'm not a student just so i am able to grow my card easier? putting down student will get your foot in the door at 20K/yr

Does it matter? see above

What type of limit do you think I'll get? it's hard to pinpoint this because Disco isn't like anyone else.  I would say though you have a good shot at $1K though.

Great Offer

• No Annual Fee

• 0% Intro Purchase APR for 14 months and then 19.49% Standard Variable Purchase APR.

• 0% Intro Balance Transfer APR for 14 months from date of first transfer, for transfers under this offer that post to your account by October 10, 2017 and then 19.49% Standard Variable Purchase APR.

• 3% of the amount of each transfer 

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Despite what others say about Disco pre-qual it's a geenral rule of thumb when you see the single APR listed you're 99% of the way to an approval.  When you see a spread of 3% or more though then it's game off and wait until you see what you're seeing.  The opening CL is hard to say though because even with a 750 and multiple cards over 20K they started me at $4500.  Though I think they've been loosening up lately with a couple of other members showing approvals around 6-8K recently.  Letting AMEX update though..... might not make much of a difference and with Disco starting the clock is better than waiting since you get that first 90 days out of the way to get a CLI started.

[Anonymous]

I'm also a member of NFCU and was looking into getting a GO Rewards for 3% @ restaurants, and was wanting to apply at the same time as my DISCOVER. 

What do you think?

Also, since I technically am a student. Do you think I'd have any problems if I applied for the regular, rather than the student version of the card?

[austinguy907]

It's really up to you what you end up applying for.  Which one do you want more?  I would apply for what you want more and then the other one.  NFCU can be good for some and denied for others.  Their UW requirements can be odd sometimes.  If you're going after rewards as your primary reason then maybe sit down and rethink it because hopefully you'll be keeping these long term and for the right reasons.  Though you're AAOA is low because you're just starting out it's better to age them together to build up your profile for the long term and keep in mind you don't want to close out your oldest cards for as long as you can hold onto them.  

[Anonymous]

So I've got the QS ($750) [regular non-category 1.5% spending], and AMEX BCE ($1,000) [3% groceries, 2% dept. stores & gas] for which I can try for 3x in a week. 

I joined NFCU not long ago for a car loan in the future, and possibly a CC since they have great limits and CLIs, it could really be a card that grows well. I was looking into the GO Rewards card because it offers 3% back on restaurants and that's a category which I currently dont have covered.

I also have been interested in a 5% rotating category card, and have been deciding to apply for the (GO Rewards and a) Chase Freedom or Discover It this summer once my oldest account hits 1yr.

My goal is CSP/CSR in 3 years, and I was thinking about getting a Chase Freedom to build a relationship with them and to have a 5% category card, plus the UR point bonus paired with CSP or CSR is great. But from my reading on the forums, Chase is not the best with thin profiles and CLIs, and they're all HPs. So I was looking to getting a DISCOVER IT, build it up (use the categories), then in 3 years I would get a CSP/CSR + Freedom at that time. Another reason for a NFCU card would be to get a high limit so I would be qualified for a CSP/CSR in a few years because I would already have a high limit card. 

The NFCU, Discover, and Freedom don't have annual fees, so I can always keep them open even if i seldom use one or two of them in a few years time. They can add to AAoA and util.

What do you think?

[austinguy907]

Rewards are nice but, if they're not enouogh to cover sales tax it's just a piggy bank for pennies.

Disco offers quite a bit when it comes to the card.  Double rewards for the first year being one of them.  Disco Deals portal where you can get 5-10% or more off online purchases you click through to.  They start somewhat low for a CL sometimes but, grow considerably to make up for it as you get to know each other.

Chase is a HP for a CLI 99% of the time which for some is a bad thing but, it's a couple of point off your score for about 6 months until it ages.  

NFCU has a 1000 page thread on here and to me it's hyped up for what it is.  They do offer some outstanding limits for lower end profiles in the low to mid 600's for some reason and then tend to be lower CL's on 720 and higher or even a denial.  They're a bit backwards sometimss.  Since you're a member already it's an easy attempt.

CSP/R meh... If you're not spending your @$$ off to get the points and bonus spend it may not be worthwhile.  Freedom / Freedom Unlimited are $0 AF.  

Just don't get too many of them that you can't use them for the bonus and sometimes more cards makes it hard to keep track of the payout for each catagory unless you keep a spreadsheet in your phone to look it up.  

I think AMEX / Disco are a good pairing and the QS is a good backup.  If I were you I'd be content with those 3 for another year or so while they age and pick up steam when it comes to the CLI's.  Maybe put Chase down for a goal in 2018.  NFCU is debatable though but, since you're thinking auto loan I would wait until then and get a 2-4-1 deal on the HP and pick up the CC then.

[Anonymous]

I haven't had any luck with Discover but I have had a great relationship with NFCU,  they offer an awful lot to their members in terms of limits, decent interest and excellent customer service.  If your looking to build a relationship that you can build on (car loans, mortgage, cards, CLOC) they are a nobrainer.  Of course you can apply for both but I wouldn't pass on the oppourtunity to get started with NFCU for Discover.

[Anonymous]

Great advice.

Right now, I'm just looking for a 3rd card to help my report as well as help maximize a few rewards. 

DISCOVER It 

Pros: Good chance of approval, CL growth potential, SP CLIs. 5% rotating categories, receive 2x rewards at end of first year. New gold card looks awesome.

Cons: Chase Freedom has better rotating categories that match up more with my spending (grocery stores, warehouse clubs, restaurants, etc), and DISCOVER isnt accepted as much as VS/MC

Chase Freedom

Pros: Start a relationship with Chase for down the road, VISA, Great 5% rotating categories, $100-$200 for spending $500 in first 3 months. Better rotating categories than DISCOVER.

Cons: Must wait till summer to apply for 1yr min of credit history, HP CLIs, tough to grow.

NFCU GO REWARDS

Pros: Good chance of approval, high CL growth potential, 3% on restaurants. Can build up card to high limit to help with util and help with getting a high limit card in a few years once I am out of school and have a job (CSR). Can build history for car loan in a few years.

Cons: Mostly HP CLIs, Would have to spend many months or up to a year to earn decent rewards

Since I currently have two cards (QS & AMEX BCE), I'd like to add another 1-2 cards to my collection from this list, and then let all of my cards age for a couple years. I am a Finance major, and update an Excel spreadsheet daily and am very on track about my expenses and cards, so maintaining them wouldn't be a problem. 

My opinion would be just to get the Chase Freedom this summer and let it age, and in a couple years apply for a CSR and transfer some of the limit over to balance it out.

I travel a lot, I have family in 4 different countries on 3 continents, so travel will be happening regardless. Might not hurt to app for NFCU as well to build that up to a high limit.