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Discover IT Secured

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Discover IT Secured

Hello All,

Lurking for about a year but I’d like some advice.

I think I put relevant info in my sig...

When I got approved for my Cap1 Secured card I also applied for Discover Secured and got turned down. I called them and all they would tell me is there was enough bad stuff for a denial basically.

Just 2 weeks ago my score was up to 648 across the board and I tried the Capital One pre approval site and it showed me options for both the Platinum Card and the QS 1. I opted to take the QS1 and got a limit of $300 which I know is low but it felt good to get approved for any kind of unsecured. And I want the cash back.

I’ve also been an A/U on an AMEX everyday with a limit of 3000 for about 6 months.

Now I’m due for my CLI on the Cap One secured next statement.

Well I went back and Tried Discover pre approval and it said I’m now approved for a Discover IT secured card through Jan 18th

I have one baddie still . $111 from Waypoint Resource Group. I could easily pay it but I want to get it removed so I’m figuring how to do that.

I’ll have enough money to pay off all cards in about 2 days. I’m at 30% now and I pay off in full every month but didn’t know when my closing dates until recently.

My questions;

Should I sign up for the Discover now, take the secured card and make it my 3rd card?

Does the Amex count towards my 3 card portfolio since I’m an Authorized user?

Would it be better to wait before looking at Discover again? I’ll have that baddie gone in a few weeks and my balances down under 10% all that should get me up to 680-700


Thanks! Hopefully that all makes sense.

-James
Credit repair start 1/15/2018 TU-483 , EQ- 512, EX-490
Current Credit Score 1/12/2019 TU-642, EQ-642, EX-650

Current Cards
Capital One Secured Card- $200
Capital One QS One Card- $300
AU on Amex Everyday Card- $3,000
Message 1 of 6
5 REPLIES 5
Valued Contributor

Re: Discover IT Secured

Welcome to My Fico!  000welcome17.gif

 

Congrats on your progress thus far..

In reading this: "Would it be better to wait before looking at Discover again? I’ll have that baddie gone in a few weeks and my balances down under 10% all that should get me up to 680-700"

 

I would say, yes, wait out the few weeks..

After the baddie is gone & your score reflects the change, try Disco prequal again. You might even qualify for an unsecured at that point.

 

Good Luck & keep at it!! aaa1 Good Luck.gif




Message 2 of 6
Valued Contributor

Re: Discover IT Secured

Wait, get the "baddie" gone, make sure it's gone everywhere....
Starting Score: 579
Current Score: 744, 738, 711
Goal Score: 850 x 3


Take the myFICO Fitness Challenge

Rebuild Oct. 2018
"My Take Home Pay Don't Take Me Home"

Synovus Tloc 75k/Savor 5.5k/Venture-3.5kAU/DiscoCB 5.5k/DiscoChrome 2k/Sportsman's Guide Visa 3k-AU/GoodSam's Visa 5k/Lowe's Pro 2.5k & Lowe's Advantage 30k-AU/Home Depot 10k-AU/Spark 2k-AU/Staples 1k/ Amazon Net 55 7.9k
Message 3 of 6
New Member

Re: Discover IT Secured

Thank you both for the feedback, that is what I shall do.
Credit repair start 1/15/2018 TU-483 , EQ- 512, EX-490
Current Credit Score 1/12/2019 TU-642, EQ-642, EX-650

Current Cards
Capital One Secured Card- $200
Capital One QS One Card- $300
AU on Amex Everyday Card- $3,000
Message 4 of 6
Valued Contributor

Re: Discover IT Secured

It's a "Hoe down" in the Garden. Seriously, join the Garden to have that extra bit of accountability so you don't jump the gun. It's fun to do the pre approvals but they are not "for real" really. The better you look, the better the outcome.
Starting Score: 579
Current Score: 744, 738, 711
Goal Score: 850 x 3


Take the myFICO Fitness Challenge

Rebuild Oct. 2018
"My Take Home Pay Don't Take Me Home"

Synovus Tloc 75k/Savor 5.5k/Venture-3.5kAU/DiscoCB 5.5k/DiscoChrome 2k/Sportsman's Guide Visa 3k-AU/GoodSam's Visa 5k/Lowe's Pro 2.5k & Lowe's Advantage 30k-AU/Home Depot 10k-AU/Spark 2k-AU/Staples 1k/ Amazon Net 55 7.9k
Message 5 of 6
New Member

Re: Discover IT Secured

I plan on gardening , I would just like to get my 3 revolving lines of credit so that I can then get an instalment loan from my credit union and have a solid portfolio to garden and to have a couple of rewards cards while Im doing it. This way I'm atleast geting paid for all I spend. Im running about 6k through my cards a month.

Credit repair start 1/15/2018 TU-483 , EQ- 512, EX-490
Current Credit Score 1/12/2019 TU-642, EQ-642, EX-650

Current Cards
Capital One Secured Card- $200
Capital One QS One Card- $300
AU on Amex Everyday Card- $3,000
Message 6 of 6
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