Discover IT Secured Card Denial

[sandiego619]

Hi everyone, my credit rebuild/cleanup is nearing completion (I still have a lil bit left to go) and my scores still have more improvement to be made but I have been able to get approved for a home loan (not showing up on my credit yet) and auto refinance loans (they are almost done and also not showing up on my credit yet).  I was also approved for a Citi Double Cash Card a couple weeks ago or less (I wrote about getting double inquries from Experian on this last week).  I was also able to get approved for an AMEX card earlier this week.  I know there has been a lot going on but it hasn't all been with one credit bureau. 

Anyhow, I never had Discover in the past and have always wanted a relationship with them so I figured I would try now while I've been getting some new lines of credit so they can all age around the same time.  I went on the Discover site and used the pre-approval tool and the only offer I got was for a Discover IT Secured Card.  I also had this same offer months ago on their website but did not proceed.  I have never had a secured card but wanted the relationship with Discover and I read about how random they can be with their approvals.  So I decided that I should proceed with the secured card since I had read so many good stories about cardholders potentially graduating to their unsecured card after at least 8 months (I think). 

I filled out the first page of the application and then I thought it was talking me to the bank/security deposit page.  It never took me to that page and denied me instead.  The denial reason was the number of recent inquries.  They ran Experian and the FICO score they listed on there was 661.  I know Discover can be weird but I was a bit caught off guard by this that I would get denied for their secured card (from the pre-approval page) simply for recent inquries.  I called the reconsideration line that I discovered on here and spoke to a couple different reps and I had no luck.  I think the number of inquries may have been five (most if not all being recent).  They let me know that I was welcome to try again in the future whenever I like etc.  Just wanted to share this experience.  Any advice or opinion from others?  How long should I wait before potentially trying again in the future?  Thanks everyone.

[M_Smart007]

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@sandiego619 wrote:

Hi everyone, my credit rebuild/cleanup is nearing completion (I still have a lil bit left to go) and my scores still have more improvement to be made but I have been able to get approved for a home loan (not showing up on my credit yet) and auto refinance loans (they are almost done and also not showing up on my credit yet).  I was also approved for a Citi Double Cash Card a couple weeks ago or less (I wrote about getting double inquries from Experian on this last week).  I was also able to get approved for an AMEX card earlier this week.  I know there has been a lot going on but it hasn't all been with one credit bureau. 

Anyhow, I never had Discover in the past and have always wanted a relationship with them so I figured I would try now while I've been getting some new lines of credit so they can all age around the same time.  I went on the Discover site and used the pre-approval tool and the only offer I got was for a Discover IT Secured Card.  I also had this same offer months ago on their website but did not proceed.  I have never had a secured card but wanted the relationship with Discover and I read about how random they can be with their approvals.  So I decided that I should proceed with the secured card since I had read so many good stories about cardholders potentially graduating to their unsecured card after at least 8 months (I think). 

I filled out the first page of the application and then I thought it was talking me to the bank/security deposit page.  It never took me to that page and denied me instead.  The denial reason was the number of recent inquries.  They ran Experian and the FICO score they listed on there was 661.  I know Discover can be weird but I was a bit caught off guard by this that I would get denied for their secured card (from the pre-approval page) simply for recent inquries.  I called the reconsideration line that I discovered on here and spoke to a couple different reps and I had no luck.  I think the number of inquries may have been five (most if not all being recent).  They let me know that I was welcome to try again in the future whenever I like etc.  Just wanted to share this experience.  Any advice or opinion from others?  How long should I wait before potentially trying again in the future?  Thanks everyone.

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Sorry for your denial I would wait and check the pre-approval tool,

when it shows more than the "secure card" then I would apply again.

Maybe wait 6 months. JMHO

[FinStar]

Unfortunately, there's no reconsideration options with Discover once the application is declined, even for the secured card.  Keep in mind that there may have been other factors why the application was not approved.  A lender is only required to provide you a reason, but doesn't necessarily need to list all of them.

Since it appears you've had some credit-related activities in the past 60 days, perhaps let the dust settle and try again in about 6-12 months.  This will allow your new accounts to age as well as provide some payment history on them.

[sandiego619]

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@M_Smart007 wrote:

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Sorry for your denial I would wait and check the pre-approval tool,

when it shows more than the "secure card" then I would apply again.

Maybe wait 6 months. JMHO

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Sounds good, that makes sense.  Thanks @M_Smart007. 

[sandiego619]

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@FinStar wrote:

Unfortunately, there's no reconsideration options with Discover once the application is declined, even for the secured card.  Keep in mind that there may have been other factors why the application was not approved.  A lender is only required to provide you a reason, but doesn't necessarily need to list all of them.

Since it appears you've had some credit-related activities in the past 60 days, perhaps let the dust settle and try again in about 6-12 months.  This will allow your new accounts to age as well as provide some payment history on them.

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I appreciate the guidance @FinStar, I'll definitely let the dust settle for a bit.  Thanks.  

[Anonymous]

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@sandiego619 wrote:

Hi everyone, my credit rebuild/cleanup is nearing completion (I still have a lil bit left to go) and my scores still have more improvement to be made but I have been able to get approved for a home loan (not showing up on my credit yet) and auto refinance loans (they are almost done and also not showing up on my credit yet).  I was also approved for a Citi Double Cash Card a couple weeks ago or less (I wrote about getting double inquries from Experian on this last week).  I was also able to get approved for an AMEX card earlier this week.  I know there has been a lot going on but it hasn't all been with one credit bureau. 

Anyhow, I never had Discover in the past and have always wanted a relationship with them so I figured I would try now while I've been getting some new lines of credit so they can all age around the same time.  I went on the Discover site and used the pre-approval tool and the only offer I got was for a Discover IT Secured Card.  I also had this same offer months ago on their website but did not proceed.  I have never had a secured card but wanted the relationship with Discover and I read about how random they can be with their approvals.  So I decided that I should proceed with the secured card since I had read so many good stories about cardholders potentially graduating to their unsecured card after at least 8 months (I think). 

I filled out the first page of the application and then I thought it was talking me to the bank/security deposit page.  It never took me to that page and denied me instead.  The denial reason was the number of recent inquries.  They ran Experian and the FICO score they listed on there was 661.  I know Discover can be weird but I was a bit caught off guard by this that I would get denied for their secured card (from the pre-approval page) simply for recent inquries.  I called the reconsideration line that I discovered on here and spoke to a couple different reps and I had no luck.  I think the number of inquries may have been five (most if not all being recent).  They let me know that I was welcome to try again in the future whenever I like etc.  Just wanted to share this experience.  Any advice or opinion from others?  How long should I wait before potentially trying again in the future?  Thanks everyone.

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Don't feel bad, its not you, its Discover.

Last month I tried for a CLI on my two discover cards, both denied due to the fact that I have out an unsecured loan. But isn't a credit card an unsecured loan too??

Anyway, I called them up on the phone. I spoke to a rude man, I told him I have a 786 FICO score according to the Discover site, I have a 7 figure income and $250,000 in my Discover savings account. He then laughed at me and told me to move my money to another bank. Discover does not need customers like me. He then hung up on me, so no CLI for me to say the least. I have not moved the money out of my Discover account as of yet, Kind of lazy here but still surprised at his answer. So don't feel bad, they do not seem to want anyone at all as their customers LOL

Thanks

Mark

[Horseshoez]

@sandiego619, many of us on this site have been shunned by Discover, myself included.  In my case I am recovering from a small business failure which drove me into a Chaper 13 bankruptcy, however, that has since been discharged and instead of working for myself I have a "real job" where I get paid quite well.  I have virtually no expenses (I think at last look my monthly expense load to keep a roof over my head, food on the table, and all other recurring monthly expenses fully paid, was hovering at only 16% of my income), I have a fair amount of money in the bank (nowhere near as much as the previous poster), and yet Discover wouldn't even approve me for a secured card (in spite of the fact they "pre-approved" me for an unsecured card).

The good news is, Discover is no longer anything special, there are lots of other credit cards out there with as good as, or better benefits and rewards.  At this point I seriously doubt I'll ever apply for a Discover card again.

[sandiego619]

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@Anonymous wrote:

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Don't feel bad, its not you, its Discover.

Last month I tried for a CLI on my two discover cards, both denied due to the fact that I have out an unsecured loan. But isn't a credit card an unsecured loan too??

Anyway, I called them up on the phone. I spoke to a rude man, I told him I have a 786 FICO score according to the Discover site, I have a 7 figure income and $250,000 in my Discover savings account. He then laughed at me and told me to move my money to another bank. Discover does not need customers like me. He then hung up on me, so no CLI for me to say the least. I have not moved the money out of my Discover account as of yet, Kind of lazy here but still surprised at his answer. So don't feel bad, they do not seem to want anyone at all as their customers LOL

Thanks

Mark

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@Anonymous, thanks for sharing your experience.  Wow that's nuts for a customer to get a response like that from a Discover Rep on the phone (especially considering how much money you currently have deposited at the bank).  I'm at a loss for words as they didn't need to go that far with what they said.  Sorry that happened to you.

[sandiego619]

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@Horseshoez wrote:

@sandiego619, many of us on this site have been shunned by Discover, myself included.  In my case I am recovering from a small business failure which drove me into a Chaper 13 bankruptcy, however, that has since been discharged and instead of working for myself I have a "real job" where I get paid quite well.  I have virtually no expenses (I think at last look my monthly expense load to keep a roof over my head, food on the table, and all other recurring monthly expenses fully paid, was hovering at only 16% of my income), I have a fair amount of money in the bank (nowhere near as much as the previous poster), and yet Discover wouldn't even approve me for a secured card (in spite of the fact they "pre-approved" me for an unsecured card).

The good news is, Discover is no longer anything special, there are lots of other credit cards out there with as good as, or better benefits and rewards.  At this point I seriously doubt I'll ever apply for a Discover card again.

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@Horseshoez, thanks for sharing your experience as well.  Sorry to hear about the small business failure.  Glad to hear you have been able to get back on your feet and congrats on your current role.  Lol @ not approving you for a secured card when they "pre-approved" you for an unsecured card.  It is what it is right?  Discover definitely has their own way of doing things from what I read and from what people tell me.  I still would potentially like to try to get one of their cards again in the future but as you said there are many other options that are just as good (if not better).  

[designated_knitter]

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@Anonymous wrote:

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Don't feel bad, its not you, its Discover.

Last month I tried for a CLI on my two discover cards, both denied due to the fact that I have out an unsecured loan. But isn't a credit card an unsecured loan too??

Anyway, I called them up on the phone. I spoke to a rude man, I told him I have a 786 FICO score according to the Discover site, I have a 7 figure income and $250,000 in my Discover savings account. He then laughed at me and told me to move my money to another bank. Discover does not need customers like me. He then hung up on me, so no CLI for me to say the least. I have not moved the money out of my Discover account as of yet, Kind of lazy here but still surprised at his answer. So don't feel bad, they do not seem to want anyone at all as their customers LOL

Thanks

Mark

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The guy on the phone was probably reacting to your attitude and sense of entitlement and not your request.  A 7-figure income doesn't mean anything on the phone... unless you gave them access to your tax returns already, he wouldn't know if you were telling the truth. Frontline CSRs also don't have the authority to override automated decisions.

They want customers... they probably even want you.  They just don't like giving out blank checks when demanded.