Discover hates me!

[Anonymous]

So, I have tried to app for the discover card a few times and each time they give me a different reason. Two months ago it was due to too many inquiries, too few accounts, and amount of available credit compared to loan amounts- so i reconed and it was a failure. They said inquiries they can ignore because it was mostly for discover. Then available credit due to loan amounts is due to a mortgage and a car loan and too few accounts because I had been approved for 8 new accounts in one year.

Fast forward two months later I apped again against my best judgment and this time they said it was due to ratio of satisfactory accounts; I have three charge offs reporting from prior to 2013 which have all been settled and paid off. Next reason was average ago of accounts, and last reason is due to a low credit line reporting on my report.
I'm just trying to figure out if I should stop bothering to app for them, maybe wait till I hit one year with my now oldest account or close my 300 dollar US Bank secured card. Any advice would be great. They did people Experian and Equifax experian fico came in at 664 and equifax at 672. Current cards are

Chase freedom- 2500sl/ balance of about 1400(zero interest)
Capital one quicksilver 2500sl, balance reported at the time of app for discover 447( PIF every month)
Apple rewards card 1000sl/ zero balance
frontier card 1000sl/ zero balance
Barclay rewards 1500sl/zero balance
Us Bank secured card 300sl/zero balance
us bank cash 800sl/ zero balance
Bofa better balance 1500sl/ zero balance

[myjourney]

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@Anonymous wrote:
So, I have tried to app for the discover card a few times and each time they give me a different reason. Two months ago it was due to too many inquiries, too few accounts, and amount of available credit compared to loan amounts- so i reconed and it was a failure. They said inquiries they can ignore because it was mostly for discover. Then available credit due to loan amounts is due to a mortgage and a car loan and too few accounts because I had been approved for 8 new accounts in one year.

Fast forward two months later I apped again against my best judgment and this time they said it was due to ratio of satisfactory accounts; I have three charge offs reporting from prior to 2013 which have all been settled and paid off. Next reason was average ago of accounts, and last reason is due to a low credit line reporting on my report.
I'm just trying to figure out if I should stop bothering to app for them, maybe wait till I hit one year with my now oldest account or close my 300 dollar US Bank secured card. Any advice would be great. They did people Experian and Equifax experian fico came in at 664 and equifax at 672. Current cards are

Chase freedom- 2500sl/ balance of about 1400(zero interest)
Capital one quicksilver 2500sl, balance reported at the time of app for discover 447( PIF every month)
Apple rewards card 1000sl/ zero balance
frontier card 1000sl/ zero balance
Barclay rewards 1500sl/zero balance
Us Bank secured card 300sl/zero balance
us bank cash 800sl/ zero balance
Bofa better balance 1500sl/ zero balance

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Wait and cool it awhile and they'll open the doors 

As far as cards and balances you look good 

Keep up the good work

[Anonymous]

Thanks myjourney, should I go ahead and close my US Bank secured card? It would be my old user account hitting one year in June. But will have chase, Apple and frontier hit one year between July and August. Also I do make sure to PIF what ever card I use in the month. Capital one just cut with the balance because I timed it wrong with my spending for vacation.

[creditguy]

Well welcome to the world of Discover, where up is down and forward is backward. Discover is really a tough nut to crack when it comes to figuring out what they like and don't like. I have seen people with excellent scores get turned down and people right out of BK approved so go figure. The only thing I found consistent is that they like thin files for some reason. I think with Discover it's a "they want to be your only card kind of thing". So with that i guess the only advice I could give is maybe let your accounts age some before reapplying and then see what their reasons are, or simply pass on Discover and enjoy the good cards you have. 

[Anonymous]

Yeah, sounds like they do suck. I guess I'll just wait for Citi to forgive me and take me off their black list and wait another 6 months or so and try for Amex.

[CreditCuriosity]

Discover has been one of those lenders that no one of this forum can figure out.. As Creditguy stated they no one can put a finger on what they like other than really clean thin profiles aka new to credit, then pretty much you will get approved.  Other than that, you can just stack the odds in your favor by longer credit history aged or no baddies, etc..  They are the hardest of any lender to figure out and will never understand them.  They prefer BK's over files in the 700's that have alot of credit and tons of other scenarios that just dont make sense to alot of us.  Although I am sure it works for them or they wouldn't be using these guidelines that none of us on this forum can seem to figure out.  Simply put they are all over the board on whom they approve or deny.  Also they give people 5k credit lines with 640 scores and lower incomes and other in the 700's and high incomes 1.6k CL's and other very weird behaviors.   Would love to see their computer code for approval process/CL as it has to be mind boggling

[Anonymous]

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@Anonymous wrote:
Yeah, sounds like they do suck. I guess I'll just wait for Citi to forgive me and take me off their black list and wait another 6 months or so and try for Amex.

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Discover doesn't suck. They're one of the best cards available.

[creditguy]

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@Anonymous wrote:

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@Anonymous wrote:
Yeah, sounds like they do suck. I guess I'll just wait for Citi to forgive me and take me off their black list and wait another 6 months or so and try for Amex.

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Discover doesn't suck. They're one of the best cards available.

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Very True, just their approval criteria sucks, other than that an awesome card. 

[myjourney]

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@Anonymous wrote:
Thanks myjourney, should I go ahead and close my US Bank secured card? It would be my old user account hitting one year in June. But will have chase, Apple and frontier hit one year between July and August. Also I do make sure to PIF what ever card I use in the month. Capital one just cut with the balance because I timed it wrong with my spending for vacation.

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If it has an AF and you have no use for it then by all means close it and get your $$$$$$'s back 

Closed card bear no negative effects on AAoA or scores and will continue to report as a positive account for up to 10 years

By that time Apple and Frontier could be 10 years old 

[Anonymous]

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@creditguy wrote:

Well welcome to the world of Discover, where up is down and forward is backward. Discover is really a tough nut to crack when it comes to figuring out what they like and don't like. I have seen people with excellent scores get turned down and people right out of BK approved so go figure. The only thing I found consistent is that they like thin files for some reason. I think with Discover it's a "they want to be your only card kind of thing". So with that i guess the only advice I could give is maybe let your accounts age some before reapplying and then see what their reasons are, or simply pass on Discover and enjoy the good cards you have. 

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+1