Discover card getting more lenient with approvals?

[mistman1978]

Discover must be getting more lenient with approvals...I applied at discover.com pre approval checker and got a DiscoverIt card with a $1000 credit limit. Score they included with new card that arrived yesterday said Equifax Fico 638

My wife just got threw applying and they approved her too. She received a $750 credit limit. Her Equifax credit score is hovering around 615.

They are both the 5% CB cards with floating categories and no annual fee.

We had a bankruptcy 10 years ago and we definitely learned from it. We pay off every card monthly and haven't carried a balance in over 3 years.

[Anonymous]

Discover was the first big card I got approved for, pulled my Exp at a 685 and got a SL of $4,000.

Congrats on the approval. Feels good.

[mistman1978]

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@Anonymous wrote:
Discover was the first big card I got approved for, pulled my Exp at a 685 and got a SL of $4,000.

Congrats on the approval. Feels good.

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Thank you. My wife and I really learned the hard way..

When did Disvover card start approving scores under 640 though?

Ten or twelve years ago I believe they wouldn't mess with you if you were under 680.

[tbque]

Congrats to you and DW on the Disco approvals!

[kdm31091]

I didn't ever think Discover was very strict on approvals. They generally are recommended as a great lender to start out with. I know they were my first card.

[mistman1978]

I knew the Discover student card could be had with limited credit. However, the issuance of their premium 5% CB cards to sub-prime credit is what's news to me...

[Remedios]

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@mistman1978 wrote:
I knew the Discover student card could be had with limited credit. However, the issuance of their premium 5% CB cards to sub-prime credit is what's news to me...

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You dont have a lot of other accounts that would compete with their card

That makes you desirable customer from their point of view and it ensures their card stays as your main squeeze for a while

Congrats on both approvals! 

[mistman1978]

I'm not sure that's it....In the past 2 years just on Equifax it's showing 27 inquiries. I have received 8 new Visa/Mastercards in the 2 past years with an average limit of $1000 each...Are they able to tell from my CR that I pay my cards off every month?

[AverageJoesCredit]

Yes they can see your report . Question, what is holding your scores down if your bk was 10 years ago?

[calyx]

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@mistman1978 wrote:

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Thank you. My wife and I really learned the hard way..

When did Disvover card start approving scores under 640 though?

Ten or twelve years ago I believe they wouldn't mess with you if you were under 680.

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I think Disco has been approving low scores for quite some time, which is why it seems to be the credit builder choice card.

I was prequaled/approved with 606-610 scores.

Congrats on the new card!!!