Discover Pre-Approval with Solid APRs

[Dalmus]

I know it doesn't matter because I pay Discover in full every month, but I just hate the idea of that 23.99% APR they preapproved me for!

[AverageJoesCredit]

Lol, tried it out and nada. Even though i have one and with all my credit seems preapprovals dont like me or my income

[UncleB]

I gave the pre-approval a try and got two offers:

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My current Discover It card was approved a little over two years ago at a rate of 20.99, but it's now 17.24% (it was lower before this year's Fed increases), so the 18.99% rate isn't too out-of-line but it's not exactly great, either.

From what I've read in this thread it's suspected that the pre-approval is based on EQ, which would explain a lot... EQ is my lowest score (748). 

Since my existing Discover It is now at $21k and I don't have any exceptional Amazon or Target purchases coming up (to take advantage of the double-cash on a new card) I think I'll hold off on this one. 

After having no credit for so many years it's easy to want to take every offer, but the last year or so I've learned to be 'picky'. 

[Anonymous]

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@UncleB wrote:

I gave the pre-approval a try and got two offers:

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---

My current Discover It card was approved a little over two years ago at a rate of 20.99, but it's now 17.24% (it was lower before this year's Fed increases), so the 18.99% rate isn't too out-of-line but it's not exactly great, either.

From what I've read in this thread it's suspected that the pre-approval is based on EQ, which would explain a lot... EQ is my lowest score (748). 

Since my existing Discover It is now at $21k and I don't have any exceptional Amazon or Target purchases coming up (to take advantage of the double-cash on a new card) I think I'll hold off on this one. 

After having no credit for so many years it's easy to want to take every offer, but the last year or so I've learned to be 'picky'. 

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Do it !!!!!

[Anonymous]

I did the prequal and it came back with it and chrome even though I just have the miles card at 11 statements. I was approved for the chrome at 1,800 !

[UncleB]

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@Anonymous wrote:

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@UncleB wrote:

I gave the pre-approval a try and got two offers:

---

My current Discover It card was approved a little over two years ago at a rate of 20.99, but it's now 17.24% (it was lower before this year's Fed increases), so the 18.99% rate isn't too out-of-line but it's not exactly great, either.

From what I've read in this thread it's suspected that the pre-approval is based on EQ, which would explain a lot... EQ is my lowest score (748). 

Since my existing Discover It is now at $21k and I don't have any exceptional Amazon or Target purchases coming up (to take advantage of the double-cash on a new card) I think I'll hold off on this one. 

After having no credit for so many years it's easy to want to take every offer, but the last year or so I've learned to be 'picky'. 

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Do it !!!!!

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Nah... there has to be a good reason for me to get new accounts these days.  I'm looking for either cards to fill category holes (although I'm generally in good shape there already) or good sign up bonuses.

Right now another Discover wouldn't do anything for me.  If/when that changes hopefully the pre-approval will still be around. 

[Anonymous]

I got pre-approval for 2 cards. The Chrome and IT, but I'm going to pass for now. I was recently approved in August for 3 new cards and I'm going to get my utilization down a bit more before I pull the trigger. 

WHile I do want to get into Discover and Amex, I don't want to get trigger happy. I'm inching close to 700 and its been a couple of years since I've been above that mark. Going to be patient before I apply.

[Anonymous]

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@UncleB wrote:

I gave the pre-approval a try and got two offers:

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I just came to say "hahaha" to your photoshop job, it's cute

[UncleB]

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@Anonymous wrote:

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@UncleB wrote:

I gave the pre-approval a try and got two offers:

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I just came to say "hahaha" to your photoshop job, it's cute

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LOL... you give me too much credit - I'm too basic for PhotoShop - it's all MS Paint for me. 

[Anonymous]

I'm weird (as usual). I have not been able to use any of Discover's online tools. Not their scorecard, not their prequals. For maybe 6 weeks it's been giving me a "something went wrong, try again later" message every time. They can't verify my ID or something, who knows? I've called multiple times and finally got through to someone who told me it was a known issue for a small subset of the population, she was in it too, they were working on it, and to keep checking. (Sounds fun!) 

So since y'all said it was now giving solid APRs and different answers for people I figured I'd try one more time. I tried maybe 10 days ago. This time it worked! I prequal for the Secured card (expected) with a solid apr. 

I think I'm going to go ahead and app. If I qualify now, I'm not going to qualify for a better CL later - it's just what I can pay which isn't going to change.