@Beefy1212 wrote:That may have been the reason listed but I suspect it may have also been score, and whatever dropped you to that 533 score in the first place.
It is important to remember they are required to give you A reason, not THE reason(s).
High balances and unpaid charge offs, all of which have now been resolved. Believe me, I'm aware of how much history can hold you back with lenders. That's why I was shocked when the inquiries were the only thing listed in the pre-approval denial, because I'm used to it being (insert prior delinquency and/or other baddie here and maybe something about inquiries).
@Lou-natic wrote:If you want a Disco card, sign up for a Discover account. They will let you know once you are eligable. I signed up years ago because they were giving out a FICO score and letting you see credit alerts for free. They still let me know at least once a week if not more that I can get one of their cards, pretty good terms too now days but alas, not really a card I want right at the moment.
That's a great idea! I didn't know they did that. Thank you!
@laurenjessica wrote:
@Lou-natic wrote:If you want a Disco card, sign up for a Discover account. They will let you know once you are eligable. I signed up years ago because they were giving out a FICO score and letting you see credit alerts for free. They still let me know at least once a week if not more that I can get one of their cards, pretty good terms too now days but alas, not really a card I want right at the moment.
That's a great idea! I didn't know they did that. Thank you!
@laurenjessica I see you have the Discover card in your signature now, Congratulations! I was reading through this thread because I have been having a similiar issue with getting approved by them. My denial letter for prequal keeps coming back "too many newly opened" accounts. It doesn't state anything about inquires (but I only have 5/24 inquires). However, I have opened 5 new credit cards in the last 3 months. Prior to that I had absolutely zero credit cards open, two medical collections and a couple very small charge offs from almost 6 years ago which were not paid when I tried the prequal. They are paid now but I plan on waiting on applying again being I already know they obviously don't like several new accounts plus the 4 small baddies even though they are paid. I assume they would have other reasons but only listed the new accounts. Like it was mentioned upthread, they gave me a reasons, not all of the reasons. Good luck with yours I look forward one hopefully next year.
@Lou-natic I wondered if that would help by perhaps opening a checking account with them. They are having a SUB right now. I may look into it. Thanks for sharing.
Honestly, who knows with Discover. I ended up not doing the pre-qual and taking a chance on a cold app. Applied for the student card since I just went back to school (and may have less strict underwriting requirements) and was approved. And at that point I had opened 7 cards within the prior 6 months.
Disco retains her mystery on how she operates lol.