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Discover it secured-prequal denied

New Contributor

Discover it secured-prequal denied

Advice, my discover it secured card pre qualification was denied. When should I try again? I thought all secured cards were approved honestly.
Message 1 of 4
Senior Contributor

Re: Discover it secured-prequal denied

@HighGoals wrote:
Advice, my discover it secured card pre qualification was denied. When should I try again? I thought all secured cards were approved honestly.

No - they're not all approved, unfortunately -- especially those that eventually graduate to unsecured - they have stricter underwriting.   

Disco denied me a secured card in 2017 -- after prequalifying me for one -- because I had a 7 year old paid state tax lien on my reports. I never got a secured from them, instead, a year later (finally got the lien removed), I cold app'd for their unsecured and got it with a $10.7K SL.    


Anyway -- you can keep trying to prequal every 30 days or so, but just know that prequals are not guarantees.   Or you could just cold app and see what happens...  

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"

Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s

My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 4
Valued Contributor

Re: Discover it secured-prequal denied

I applied for Discover secured in April (denied), early May (denied), late May (approved). In the meantime, I got a Citi secured card and it reported. I also think Self Lender may have reported in time for the approval. And I probably removed a derog somewhere in there. It's not hard to get at all, they just want to see a little something in your history to give them a smidgen of trust, IMO. By the way, my Discover card unsecured like clockwork after seven statements and two or three days. Good luck!

FICO Resilience Index: 59. Cards: 9/24, 3/12, 1/6. Accounts including loans: 11/24, 4/12, 2/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan

Card CLs total $154,600, not counting the AU card. The AU card brings the total to $181,100. In 03/19, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, joined 1987, direct deposit; PenFed, joined 2019; Navy Federal, joined 2020; USAA, joined 2020; Chase Bank, joined 2020. Best: Coastal, worst: NFCU. I have had weird Keystone Kops customer service problems with NFCU several times, despite their reputation here.

Closed but still on reports: American Express Gold, NPSL, 08/19-06/21 | American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 3 of 4
New Contributor

Re: Discover it secured-prequal denied

Yeah I heard it really good after 7 months that’s why I want to try it instead of doing the open sky card.
Message 4 of 4
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