Discover denial letter

[Anonymous]

I applied for discover again and was declined again.  2 months in a row.  but i got my denial letter in the mail yesterday.  After 6 months, will the inqs matter?  Collections will be gone soon enough.  Credit history will obviously be longer too, 6 months good enough?

[kdm31091]

The inquiries remain on your report for 2 years. Their importance dimishes over time but they are still there and still count for 2 years.

One month between apps is typically, but not always, not enough time to meaningfully change a decision. In other words, you should expect the denial to reoccur unless something drastic has changed on your reports. For best results, wait at LEAST 3 months before reapplying, if not 6 months.

[redbeard]

Are the collections paid?

Any open collections over a few hundred dollars will tend to scare away a lot of creditors.

I would not app with Discover again until you have significant improvement on the report. You are just wasting inquiries which will cause approvals to be slightly more difficult and limit the credit lines you might otherwise be offered. In that vein, 6 months is probably minimum till you try again.

Remember, score alone doesn't get you an approval. It might get you invited, but it won't get your app approved. Your report gets the approval. There is something on the report that Discover is using as a non-starter, which, if I had to guess, is the 'Public Record or Collection Filed' part. That has to be resolved, showing at least paid, then you might have a chance with creditors.

Yes, I know, some creditors will overlook a lot of stuff and still give you credit, but apparently not Discover based on your current report. I had the same problem, I was declined in January when I thought I was good to go. Didn't happen. Oh well.

Dan

[Anonymous]

I have 3 small collections all pif.  Tu removed them friday and gave me 100 pt boost.  Unfortunately they are still on eq.  One of them should be deleted any day now since the ca agreed on it and ex deleted it 2 months ago.  Tu deleted it when I called and asked about why they hadnt yet on friday, literally minutes after I called the ca too.  Eq sucks apparently and had me open a dispute.

I planned on gardening until april then apping for amex bcp and discover it.  8 inqs on eq will be 7 months old then and 3 will be over a year old.  4 of 4 on ex will be 7 months old then too.

[redbeard]

Just so you know, Transunion was also a 'dispute' and they could reappear.

Most things, when disputed the first time, will disappear from your report during the dispute.  The credit bureaus will NEVER just take your word for something like this though, they send the dispute to the creditor and ask them.

Equifax must be a little slower to put it in the dispute pile or it wasn't the first time disputed.  

Dan

[Anonymous]

Okay gotcha.  Hopefully tu did contact the ca so theyre on the same page and it wont reappear.  Eq will hopefully delete tomorrow assuming they also contact the ca.

[taxi818]

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@kdm31091 wrote:
The inquiries remain on your report for 2 years. Their importance dimishes over time but they are still there and still count for 2 years.

One month between apps is typically, but not always, not enough time to meaningfully change a decision. In other words, you should expect the denial to reoccur unless something drastic has changed on your reports. For best results, wait at LEAST 3 months before reapplying, if not 6 months.

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They count but don't have any effect what  so ever on your score after 1 year. I do agree 1 month is not enough time between apps. give it at least 3 months and try again. i think you can get in with Discover with about a 665 score. as that is what i got my card with last year just when my oldest account was about 9 months old. Time is your friend.

[Anonymous]

I will hold off on reapplying until spring.  At that point, my credit  (after i remove myself as an au on dads 2 year old barclay) will be 9 or so months old.

[OmarGB9]

Is there a particular reason you want to get in with them so badly? I mean yes they're a great company, but there's plenty of other lenders out there as well.

[Anonymous]

Honestly, no.  It's mostly because I've always seen the it card promoted during nhl games and I'm a huge hockey fan.  I figure now that im back in the credit game it would make sense to get this card.  My dad got one now so I have seen it in person (blackhawks design) and want it more.  Although, I have cards with toy limits right now so maybe that's why.  I feel like it's a step up from where I am.  I'm more focused on the amex bcp next spring.