@Anonymous wrote:
So I’m closing (supposedly) on my new house on Monday. After that, I can finally apply for a new card.
I’ve been checking Discover’s pre-qual site at work weekly and always get the same Discover IT and the Chrome Card. Well one day I decided to check on my phone (instead of my work computer) and the site rejected me and said it had no offers for me and to wait 7-10 days for the reason why. Color me puzzled! Keep in mind, I’ve received 3 mailers for the discover IT from them with confirmation numbers and a solid APR in the last 2 weeks.
The letter came today and says:
“Thank you for your interest in Discover. Unfortunately, at this time we are not able to provide you an offer due to the following: Number of inq’s in the last 6 months
Number of inq's In the last 3 months
No open installment loans”
On the back it has another set of denial reasons that says:
Type of credit score FICO
Your credit score 748
Date July 23, 2018
Key factors: length of time accts have been established, length of time revolving accts have been est., too many inq’s last 12 months, time since most recent acct opening is too short”
Now this was just for the prequalification and it did not affect my score. This makes me SUPER nervous about applying now when for the last month I was so sure I’d get this one.
What do you guys think?
I'll tell you what I did. As I am still reestablishing my credit, I wanted a Discover Card to round out my QuickSilver One Visa and BoA Cash Rewards Master Card. I applied several times and was denied due to my "established length of revolving credit history". I ended up applying for a Secured Discover Card with $200. I was approved and after seven months was graduated to a Discover IT Card with $2000 CL.
@Anonymous wrote:
Thanks for the reply. I already have two secure cards now so if this would be Discover’s actual reaction to my application then I would just wait and let this mailers stack up and just get an AMEX.
I was just approved this month for the Amex Every Day Cash Card with a SL of $4000. My goal is complete with a Visa, MC, Disco and Amex in my portfolio.
@Anonymous wrote:
Congrats! I don’t really understand when they’re saying I have too many inq’s in 6 months as I only have 4 and two of them are from my mortgage lender.
Hard INQ only count against your FICO score for 12 months and stay on your CR for 24 months. Yeah, I don't understand either. You could always call the recon line and see what an UW has to say.
@Anonymous wrote:
Can you recon a prequalification? I never even applied? Lol
Doh! My mistake. I was off in left field. No, I have never heard of a reconsideration of a prequalification. I was thinking after you had applied and was denied. As I understand it, Discover is fairly good about graduating secured cards to those with good credit. I had good credit, just a thin file.
@Anonymous wrote:
Can you recon a prequalification? I never even applied? Lol
You'd be a legend if you could
I would wait a few months and check again. I noticed it said no installment loans. After your mortgage starts to report that reason should change.
