Discover Pre-Approval site - how accurate is it?

[bradlin]

I've Chase's site is pretty golden but does that apply to discover as well? Both of them give me a specific rate.

I checked Discover once and was offered 11.9% higher than the minimum of 10.9%. Then the second time I checked the rate offered was 12.9%. My FICO scores actually were higher during the second preapproval check. I really want to see 11.9% again before I apply.

Has anyone gotten denied after getting a preapporval with a specific rate?

Also has anyone gotten 10.9% - what kind of scores do you need for that?

[shoo]

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@bradlin wrote:

I've Chase's site is pretty golden but does that apply to discover as well? Both of them give me a specific rate.

I checked Discover once and was offered 11.9% higher than the minimum of 10.9%. Then the second time I checked the rate offered was 12.9%. My FICO scores actually were higher during the second preapproval check. I really want to see 11.9% again before I apply.

Has anyone gotten denied after getting a preapporval with a specific rate?

Also has anyone gotten 10.9% - what kind of scores do you need for that?

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So, personally, I applied for Discover when I received a prequal in the mail last year and I was approved. At the time my score was mid 600s, I had 3 or 4 inqs on each bureau, and 1 baddie (late payments) from 2 years before. I was approved at 2.5K.

BUT, after finding myfico, I realized that discover prequal is absolutely inaccurate. You can put fake info in there and still get a prequal. I didn't see if your scores were in your sig before replying, but if you want the card and your scores are decent without anything negative in your report, you should just go for it. 

[shoo]

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@shoo wrote:

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@bradlin wrote:

I've Chase's site is pretty golden but does that apply to discover as well? Both of them give me a specific rate.

I checked Discover once and was offered 11.9% higher than the minimum of 10.9%. Then the second time I checked the rate offered was 12.9%. My FICO scores actually were higher during the second preapproval check. I really want to see 11.9% again before I apply.

Has anyone gotten denied after getting a preapporval with a specific rate?

Also has anyone gotten 10.9% - what kind of scores do you need for that?

---

So, personally, I applied for Discover when I received a prequal in the mail last year and I was approved. At the time my score was mid 600s, I had 3 or 4 inqs on each bureau, and 1 baddie (late payments) from 2 years before. I was approved at 2.5K.

BUT, after finding myfico, I realized that discover prequal is absolutely inaccurate. You can put fake info in there and still get a prequal. I didn't see if your scores were in your sig before replying, but if you want the card and your scores are decent without anything negative in your report, you should just go for it. 

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Also, I got the 10.99% APR. Just looked at my welcome packet from last year. Score was 655 and the pulled TU where my closed account with lates was definitely reporting. You could also check the credit pulls db to see if your stats match the criteria people in your area got approved at.

[Anonymous]

I did wait until my score was at 742.  But I just applied & they said yes!  Kind of shocking for me.  Also gave me a 5.5k limit to start off with.  If they're saying you will be approved, I don't see any reason why you shouldn't go for it.  You can always negociate the apr if you need to.  

[bradlin]

My scores are:

EX: 727 EQ: 751 TU: 753

However I have some baddies 90+ late from almost 4 years ago on student loans

When I put fake info in the site I get a range of 10.99%-20.99%

I've checked the database and it's great but I wish they also put a column for rate. I can't figure out if they are giving 10.99% at this moment and if so how high your score has to be. I think it's weird my offer changed to 12.9%. 10.9% with 1% rewards and 5% in categories is among the lowest rates for those rewards.

[shoo]

Great scores! If that's your only baddie, I really wouldn't be too worried. None of us can give you a guarantee on the rate, but it really seems like you'd be approved with those scores. Is your AAoA okay? Like a year at least?

You won't know until you try!

[Anonymous]

Scooby Doo gets the card recommended (last 4 are random numbers).

[Jerry45]

+1

[bradlin]

Scooby Doo however does not get a solid rate. That's a huge difference and pretty much my point. Thats pretty much the only card they offer so everyone gets the recommendation but the solid rate is based on a real SP. 

[bradlin]

Thanks for the encouragement. I will definitely app it but the BA Chase is first, then CSP, then Discover. I want to wait a little to see a few optimizations I made reflect on my report and then strategically app o Rama. Still gardening a little. 

The actual rate doesn't matter since I intend to PIF. However being offered 10.99% is like my own personal credit barometer. I want to hit that mark before I make any apps. So I'm just wondering where the mark is.