Discover Preapprovals...?

krmurrayjr10 · ‎11-26-2016

I have a few questions on Discover's preapproval practices.

When Discover began making credit scores available to anyone, not just Discover cardholders, a little while back, I signed up and check back on it once in a while to see what score the monthly update shows. I suspect that one of the reasons Discover does this is to prescreen potential cardholders. As my score is in the 600s, the page showing my score has always had a little ad at the bottom suggesting I apply for Discover's secured card.

Recently, this ad has changed and now suggests I apply for a Discover IT card, and the secured wording has disappeared. When I read through the fine print, an introductory rate of 0% and a subsequent rate of 23% is listed - no range, just a firm 23%.

Is this a reliable preapproval?

I've checked Discover's Find My Offer site, which I've read is unreliable, and it just returns the full 11-23% range, and I haven't received any mailings from them.

For reference, I have 2 cards from CapOne with $6k credit lines between them, an old (and recently unsecured) card from BoA for $500, a few store cards, and was recently approved by Barclay for $1500. The score is held back by old chargeoffs that have $0 balances, a positive credit history < 2 years, and a handful of inquiries to get the cards I have now and to get the BoA card unsecured.

Anonymous · ‎11-26-2016

When there has been a firm APR, with no range, a lot have been reliable preapprovals. I've seen many who have been approved with these stats, including my hubby. I'd definitely apply if that is a card that you've been looking at and wanting. Good luck if you decide to give it a shot!

Anonymous · ‎11-26-2016

I hit the find your offer site the other day as looking at soft pulls on Equifax, discover had Soft pulled my DWs report, and not mine.
So I went to the find your offer site, put in her info and it gave a We found a offer for you, something. It listed a specifice APR.
When I tried my info, it said it didn't find a offer, but here's a card you might like and a range of apr.

We haven't pulled the trigger for her yet ad were waiting till the end of december.

I'd guess that since she has a SP, and the discover site gives a specific rate, that she had a good chance.

If they give you a specifice rate, it doesn't mean your approved, just have a better chance.

Anonymous · ‎11-27-2016

Did you app? If so, what's the verdict?

Anonymous · ‎11-27-2016

I definitely like Cap1's pre-qual page better than Discover's, at least with Cap1 they clearly say, "We didn't find any offers for you, but you might be interested in..." or whatever. Discover's is not clear if you've had no experience with it before.

MakeItAMudLight · ‎02-14-2017

Did OP ever app? A co-worker of mine is going through this exact same scenario.

Aduke1122 · ‎02-14-2017

My score card is doing the same exact thing now , it had always said Secured up until this mth now it says to apply for the Discover It with a specific APR of 23.00 I think I am gonna pull the trigger this is one of the cards I have been wanting for so so long now!

marcforza1 · ‎02-14-2017

I get the same message for the past month " does your credit card give you ever everything you deserve". Shows the Cash Back card (the green one) with 0% for 14 months and a variable 11.49%-23.49% APR every time I do it. Won't do anything until I see a solid APR percentage.