Discover it Chances?

[Gunnar419]

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@Anonymous wrote:

Hi jbsea,

I had one secured card with a credit union for 2.5 years, it was closed last December because I had -$5 in my checking account. I was unaware of my checking balance as I had moved to another state, opened an account with a national bank and transferred my checking and savings over. The second secured card was opened with Wells Fargo last December, but they closed the account in June because I had exceeded my limit because avis car rental charged me an additional $400 in fees in error (they removed two weeks later.

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Thank you for being open about what happened with your various accounts. My impression is that you are still struggling to get a grip on financial management. Good for you for working to manage better. Wait a while and when you have a better handle on things, give yourself that Discover card as a reward.

[Anonymous]

Hi there, just for the record on july 23/15, i was aproved for discover it card,with EQuifax(629)Exp(637) with 2000 CSL, i have one paid colection,one paid judgement,on equifax. i think you have a good chance, butn you will get a small start credit limit base on your credit information, hope this help your descision but remember you dont know until you try best of luck

[Anonymous]

Hi Gunnar,

Sure thing. I don't think I could receive the advice I want without being honest. Would you recommend applying for a CapOne card and gardening for several months?

[Anonymous]

Hi Bostonia,

Thanks for sharing your experience. Was the Discover it card your first credit card? I'm not worried so much about the CSL, I'd just be elated to have an approval

[Anonymous]

The CA has faxed a Universal Data Form/AUD Correction indicating a delete to the three Credit Bureaus. One of the CA account specialists mentioned that it would take between 5-30 days for the account to be removed from the reports. Hopefully it happens sooner than later. 

[Anonymous]

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@Anonymous wrote:

Hi JustMe3,

Well the account specialist with the CA accepted my offer for a PFD with 20% off the total charge. I want to receive a letter/email for the agreement before I pay, so I'm to call back this morning to speak with a manager. I'm ready to pay as soon as the email hits my inbox. The collection has been reporting to all three bureaus since November of last year so I'm hoping for a solid increase in scores (fingers crossed). I haven't checked with Capital One's pre-qual site, but I receive offers for QS in the mail quite often. My auto loan that I've had with them for 2 years, 10 months is most likely the reason behind it. I'm not sure how true this is, but i've heard that Discover sometimes overlooks those with a thin profile (mine with the revolving credit). And for what it's worth my oldest account is 10 years this November, and my AAoA is 3.7 years. 

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Yes, wait until you receive your agreement in writing before you pay. Once it is removed from your credit report you should see a good size jump in scores. When I had two 7 year old collection removed, my scores jumped 50-70 points depending on which bureau.

Sooo, you've been getting Capital One Quicksilver offers in the mail? WHAT ARE YOU WAITING FOR!?!?? Lol, I highly suggest going to check out their pre-qualifier right now. It will show you which cards you pre-qualify for, and what your APR will be. Capital One has been great to me , so please go check them out.

As for Discover, yes they do take people with thin files, but they tend to dislike baddies, and your collection is pretty recent. Just hold off on them until your baddie is gone.

Now head over to Capital One's website! 

[taxi818]

Besides gardening. Get a credit card asap. Any credit card. It's  30 percent of fico. Even if just one reported secured or not. With low util. Your score would fly. Good luck. 

[Anonymous]

Well, I checked out the Capital One pre-qual site and I received the QS1Rewards with an APR at 15.9% (0% until April '16). Should I hold off and try again once this collection is removed? What are you thoughts?

[Anonymous]

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@Anonymous wrote:

Well, I checked out the Capital One pre-qual site and I received the QS1Rewards with an APR at 15.9% (0% until April '16). Should I hold off and try again once this collection is removed? What are you thoughts?

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That's a decent APR for Cap1... if I were in your shoes I would go for it now.

[Anonymous]

I checked the Discover pre-qual site as well and received the it card. However from what i've read, Discover's pre-qual doesn't hold any weight. Capital One also pulls from all three bureaus, correct? Also, are there any significant benefits that the QS Visa SIgnature has over the QS1 other than the lack of an AF and the $100 sing-up bonus?