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Discover Preapproval?

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YoungMoney06
Frequent Contributor

Discover Preapproval?

Some years ago, I defaulted on a Discover credit card due to unforeseen circumstances. This account is still on my credit report, crossing almost seven years.

 

Just to see what would happen, I used Discovers preapproval page and got an preapproval for a Discover card.

 

Has anyone else experienced this? What's the chances the preapproval holds up, even with the bad Discover account on my report?

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Message 1 of 14
13 REPLIES 13
GZG
Valued Contributor

Re: Discover Preapproval?

did you pay them back in full?

 

I didn't get a prequal until I PIF'd them and it came off of my reports

 

Don't know any DPs of how reliable discover prequals are on shakier/bad history w/discover profiles 

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Message 2 of 14
bigseegar
Established Contributor

Re: Discover Preapproval?


@YoungMoney06 wrote:

Some years ago, I defaulted on a Discover credit card due to unforeseen circumstances. This account is still on my credit report, crossing almost seven years.

 

Just to see what would happen, I used Discovers preapproval page and got an preapproval for a Discover card.

 

Has anyone else experienced this? What's the chances the preapproval holds up, even with the bad Discover account on my report?


Even with a Pre-Approval as has happened to others I think when they see you owe them money it would be denied.

Message 3 of 14
OmarGB9
Community Leader
Super Contributor

Re: Discover Preapproval?

I think it could go either way. Some people have reported being able to get back in without paying them back, others say they haven't until they did pay them back or they waited years before trying again.


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Message 4 of 14
SDMarik
Established Contributor

Re: Discover Preapproval?

Disco can have a pretty long memory, if you burning them is enough to keep them from issuing you a card it probably doesn't matter if it's on your credit report or not. Depending on how much you burned them for, if it's really worth it to get back in with them you would probably be safer making them whole first.

 

However, if you really can't wait (or don't want to) and feel like spending a HP on an app for science, the data point would be interesting.

 

Edit: What card was it, was it a regular card or a secured card? If it's the latter, you have a much higher chance of having it go through.



"When prosperity comes, do not use all of it"
Message 5 of 14
YoungMoney06
Frequent Contributor

Re: Discover Preapproval?


@SDMarik wrote:

Disco can have a pretty long memory, if you burning them is enough to keep them from issuing you a card it probably doesn't matter if it's on your credit report or not. Depending on how much you burned them for, if it's really worth it to get back in with them you would probably be safer making them whole first.

 

However, if you really can't wait (or don't want to) and feel like spending a HP on an app for science, the data point would be interesting.

 

Edit: What card was it, was it a regular card or a secured card? If it's the latter, you have a much higher chance of having it go through.


It was actually for three of their regular cards, no secured cards. I only had a CL of about $2000 and that's what was owed to them. Curious if the fact it was such a small balance has an impact. I still am not sure if I want to spend the HP. I liked Discover, but have a few other options right now.

 

If I do, I'll report back the DP.

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OmarGB9
Community Leader
Super Contributor

Re: Discover Preapproval?

Please do let us know the results if you apply.


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Message 7 of 14
Mdowning30
Established Contributor

Re: Discover Preapproval?

I've heard they're picky when it comes to showing any pre approvals so if they are showing you anything is a good sign, plus they are SOLID. I was pre approved for the Chrome card SL $2000 w/fixed APR.

Chase Freedom Unlimited : $6000 | Discover It Chrome : $3500 | AmEx CS Investor : $6000 | Chase Sapphire Preferred : $5000 | Chase Amazon Prime : $2000 | AmEx Hilton Surpass : $1000 | AmEx Business Plus : $2000 | AmEx Platinum CS : POT $2800 | Tower Federal CU : $15,000 | Lowes Commercial Account : $1,000 | WF Bilt Mastercard : $4,000 | Shell Fleet Plus : $1,000
Total Credit Limit : $42500
Experian FICO 8 : 700
| TransUnion FICO 8 : 688 | Experian FICO 9 : 665
Starting Score: 512
Current Score: 700
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Message 8 of 14
GZG
Valued Contributor

Re: Discover Preapproval?


@Mdowning30 wrote:

I've heard they're picky when it comes to showing any pre approvals so if they are showing you anything is a good sign, plus they are SOLID. I was pre approved for the Chrome card SL $2000 w/fixed APR.


did they give you the pre approval amount on the prequal or in a mailer? or the prequal just had the fixed APR?

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Message 9 of 14
northway
Frequent Contributor

Re: Discover Preapproval?

I know I'm digging this back up, but just as a DP, I currently owe Discover $9K that was charged off in 2018. Managed to get it dropped from my reports and the Discover app still shows an account that has a "Special Condition. Please call us for more info".

 

My credit score is in the mid 700s now, so I decided to try the pre-qual for fun. Every time I tried up until the day the account dropped off of my credit reports, I received a "Status of Existing/Prior Account" denial. This time I was pre-qualified so I decided to go for it.


Application went pending, Discover asked for a 4506-C. Took about 2 weeks, and after a final validation call with the Fraud department, I was approved for a new Discover It with a $7k limit. The account shows up immediately below the one that says "Special Condition.", which is kind of hilarious, but I will attempt to settle at some point since they let me back in.

 

My inquiries and newly opened accounts are through the roof on top of things, so I'm not sure if I'm just a weird outlier DP.

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