Discover IT Mail Offer

mato01 · ‎02-26-2016

SInce I started my rebuild journey in 2014, I've finally gotten my first mail offer. It's for the Discover IT card. I'm in the garden, but am tempted because a 2014 Discover denial in 2014 was what made me look at my reports, and start the journey to rebuild. The offer is 0% into APR for 14 months, and after a APR of 16.24% - 19.24%. I do still have some baddies on my report. Are Discover mailers just promotional or is this good?

In the Garden until 6/1/2016
Mar 2014: All Scores in the 520 range.
FEB 2016: myFICO: EQ 660, TU 682 EX 681

CreditCuriosity · ‎02-26-2016

3 point ranges are good vs. 10-23% or whatever so most likely yours is a decent shot although the longer you hold out the better terms you obviously get and chance for approval if you apply

EdMan63 · ‎02-26-2016

I'm like you in that I'm in the garden and have received 2 offers from Discover over the past 2 weeks and I'm tempted. I want the Discover card but I was trying to wait until my one baddie fell off my EX and EQ which would be May. I know Discover likes really clean files although I've never applied with them before. My APR range on my invitation is 12.99 - 15.99 if that makes a difference. My other hesitation is my Cap One QS that I got this month has not reported yet and I don't want to tank my AAoA with 2 new accounts.

Anonymous · ‎02-26-2016

What color is the card pictured in the mailer?

degs138 · ‎02-26-2016

I heard the purple color mailer is a good sign. I got a purple mailer with a 3% APR range and was instant approved with a 4.5k limit. I live in Minnesota and they pulled EQ which was a 701 score at the time. Hope that helps.

FICO TU 757 Eq 741 116,900 Total revolving Credit.
Favorite cards: AMEX BCP, US Bank Cash+, Chase Sapphire Prefered

Anonymous · ‎02-26-2016

I got the silver mailer with the 3% apr range, approved for $9k last month and was denied the month before that.

mato01 · ‎02-26-2016

I got the purple mailer. It states the offer is good until August. That will be about 9-10 months in the garden. So i'll just wait it out.

In the Garden until 6/1/2016
Mar 2014: All Scores in the 520 range.
FEB 2016: myFICO: EQ 660, TU 682 EX 681

Anonymous · ‎02-26-2016

@mato01 wrote:
I got the purple mailer. It states the offer is good until August. That will be about 9-10 months in the garden. So i'll just wait it out.

Good decision. Hang in there...

Anonymous · ‎02-28-2016

I got the maroon one with a rage of 3 points. I went for it succesfully. They pulled Experian for me.

Anonymous · ‎02-28-2016

They have a section on their website where you can see if you are "pre-approved". If something comes up - I would recommend applying. I applied for the card in July 2015 and was denied. I did have two cards that were over the credit limit so I know this contributed to the denial of my application. Since the denial I have worked on paying my cards off or bringing the utilization down to 11%.

My scores have since improved and so I figured it was safe to apply. I did check to see if I was pre-approved and the Discover IT card did come up. I was instantly approved for a CL of $1,600 but did not qualify for the 0% APR for 12 months. I was not too upset about this since I plan to pay my balances in full each month. I just received my card in the mail yesterday and can't wait to take advantage of the 5% cash back on fuel and transporation (until March 31st 2016).

Good luck!!

EQ:640

TU:665

EX:651