Denied for Discover Secured.. weird reason?

[SN1209]

Applied and got declined, just got the letter in the mail and it says "too many recent inquiries." Pulled EXP which was 585. I have perfect payment history for my last 18 mos while I've been rebuilding, and three collections that are about 3 years old so it's really weird to me that this is the reason. Especially since I'm literally putting down the security for the card. I guess the good thing is the score is higher than I thought I'd been seeing on MF, but would have been nice to get in the door. Just opened a $500 limit secured card with NFCU so I guess that'll have to do.

[ChargedUp]

Discover has been somewhat peculiar lately, especially with it's secured cards (See the Discover 4506-T thread in this forum.)

IMO you're better off with Navy Fed.

[Meanmchine]

How many inquiries did you have?

[SN1209]

Apparently about 10 too many, I had applied for NFCU, Discover and had apped at Carmax, needing a new car soon. The shotgun application they do sent it out to 8 other lenders from what my alerts show. Do you think that really is enough for them to decline? Are there any actual recon contacts for them? I'm reading that doesn't really seem to exist.

[Anonymous]

It may be all the car loan inquiries leading to the denial. Unfortunately Discover isn’t known for recon. 

Im not part of NFCU but from what I’ve seen on here, you do good by Navy and they’ll do good by you 10x over. I’ve seen people getting high credit limits with fairl/average credit. Use your card responsibly and don’t be surprised if you’re not eligible for an unsecured card in the near future. 

[KJinNC]

1 - Discover is a great secured card

2 - However, the words "weird" and "peculiar" are to be expected when discussing any decision Discover makes. Their decision-making process is a mystery, to say the least

3 - And, yeah, just stick with NFCU at this point. That card will open more doors for you in the coming months if you take care of it

JMO, good luck!

[BmoreBull]

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@SN1209 wrote:

Apparently about 10 too many, I had applied for NFCU, Discover and had apped at Carmax, needing a new car soon. The shotgun application they do sent it out to 8 other lenders from what my alerts show. Do you think that really is enough for them to decline? Are there any actual recon contacts for them? I'm reading that doesn't really seem to exist.

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I do find this strange. The Discover secured was the first card I got for my rebuild. My score was around 545 at the time if I remember correctly. I just got my car in November, I was declined for the Citi card in February, and then apped for Discover. I also had about 8 inquiries on Ex at the time from the car dealerships. This might truly be them tightening the belt.