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Discover prequal is a joke

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CreditInspired
Community Leader
Super Contributor

Re: Discover prequal is a joke


@Kasuito39 wrote:
They IIB back in 2017 for a small amount. I guess i can wait 12 months

Well there you go! 

 

Heads-up: There are going to be a lot of declines from CCCs with a BK on your CRs. And those who do allow you in, will give you a toy limit and then when/if they do, will rarely give a CLI. And it doesn't matter whether the amount IIB was $200 or $200K, it was still an amount that Disco lost. And 2 yrs out of BK is not nearly enough time for forgiveness. So, I suggest not wasting HPs on what will 99% of the time be “no soup for you.” So you see, Discover prequal is not a joke. 


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 11 of 28
AverageJoesCredit
Legendary Contributor

Re: Discover prequal is a joke

Op, sorry for your decline but i would caution against calling Discover's prequal page a joke. Amongst most lenders prequsl pages, it is usually a good indicator for approval though it is no way guaranteed. We say its usually solid around here becsuse the vast majority who prequal do get approved though there are on occasion a few denials such as yourself. That just proves that we all must remember denials are still possible. The factor that swayed your decision to the denied most likely was your recent bk. Its not impossible to get a Disco so soon after burning them, a recent poster did so, but its not probable. Give some distance and hopefully one day they will let you back in.
Message 12 of 28
Anonymous
Not applicable

Re: Discover prequal is a joke

Honestly, your FICOS have been moving up nicely. Not sure where they are presently but I would guess even higher than your last update in your sig. Don't know what cards you've acquired so far but there are lenders that will entertain you a little for now. Some are known to be tough on BKs and are well known... Chase, BofA, PenFed, USAA... not the complete list but a little poking around will let you know what waters to swim in for the next couple years and be successful with approvals. With the right strategy you can log some serious CLs within 2 years which in real life (not CC Ninja life) , is a short amount of time Smiley LOL By the time those HPs fall off its a whole new world for you. In the meantime, stick to the friendly sandboxes and stay under the radar. Your time is coming Smiley Wink

Message 13 of 28
Kasuito39
Frequent Contributor

GrRe: Discover prequal is a joke

I appreciate all your great feedback and look forward to trying Discover again in 6 months which I've calendared. I just had high hopes when i saw the two offers but i guess perhaps next time. So far i've the following cards.
Capital One - $700 - $0.00 balance
Blaze MC- $1750 - $0.00 balance
Show Card - $2250 - $0.00 balance
CO Spark -$1500 -$0.00 balance
First National - $1750 - $0.00 balance
First Savings - $1750 - $0.00 balance
Fortiva LOC - $6000 - $4100 balance.


Message 14 of 28
GApeachy
Super Contributor

Re: Discover prequal is a joke


@Kasuito39 wrote:
I applied for Discover prequalification and it came back with preapprovals for Discover It and Chrome with 19.99% APR and 0% for 14 months. At first i could not believe my eyes. I took the bait and applied for discover IT with 2% cash back and wolla.Yep, I almost did the same thing.  Luckily I searched the forums here to find I would not be accepted for the fact that I haven't been with them 1 year.  I wish those pre-quals would not give false hope when you are already in their system.  So nope, nothing is ever set in stone. Unfortunately, you have been denied. Please wait 7-10 business days for a letter in the mail. This is very disappointing as i pulled the plug after the preapproval. What are my chances if i recon? I've read hear that discover preapprovals are solid but i guess not. Any advise?  All you can do is wait on the letter....so sorry for your outcome. Don't give up; maybe it's something easily fixed and then you can apply again.  GL!

 

My Take Home Pay Don't Take Me Home
Message 15 of 28
M_Smart007
Legendary Contributor

Re: GrRe: Discover prequal is a joke


@Kasuito39 wrote:
I appreciate all your great feedback and look forward to trying Discover again in 6 months which I've calendared. I just had high hopes when i saw the two offers but i guess perhaps next time. So far i've the following cards.
Capital One - $700 - $0.00 balance
Blaze MC- $1750 - $0.00 balance
Show Card - $2250 - $0.00 balance
CO Spark -$1500 -$0.00 balance
First National - $1750 - $0.00 balance
First Savings - $1750 - $0.00 balance
Fortiva LOC - $6000 - $4100 balance.



"EQ 33 INQ l TU 29 INQ l EX 48 INQ l "  That is pretty excessive! IMO   ...you definitely need to Garden!

 

 

Message 16 of 28
GApeachy
Super Contributor

Re: GrRe: Discover prequal is a joke


@M_Smart007 wrote:


"EQ 33 INQ l TU 29 INQ l EX 48 INQ l "  That is pretty excessive! IMO   ...you definitely need to Garden!

 

 


Hopefully that's all it is....the inquiries .  Which only takes patience and time, hit the Garden for sure.

OP, when are those inquiries scheduled to fall off?

My Take Home Pay Don't Take Me Home
Message 17 of 28
FinStar
Moderator Emeritus

Re: GrRe: Discover prequal is a joke


@Kasuito39 wrote:
I appreciate all your great feedback and look forward to trying Discover again in 6 months which I've calendared. I just had high hopes when i saw the two offers but i guess perhaps next time. So far i've the following cards.
Capital One - $700 - $0.00 balance
Blaze MC- $1750 - $0.00 balance
Show Card - $2250 - $0.00 balance
CO Spark -$1500 -$0.00 balance
First National - $1750 - $0.00 balance
First Savings - $1750 - $0.00 balance
Fortiva LOC - $6000 - $4100 balance.



@Kasuito39, one DP that would help you and the community as a whole is perhaps include the BK information in your signature.   This saves the guess work with identifying the potential reasons as to why the application was not approved or the feasibility of future applications.   Since your signature already includes your scores, inquiries, etc., it is just as important of an element for consideration. 

Message 18 of 28
Anonymous
Not applicable

Re: GrRe: Discover prequal is a joke


@GApeachy wrote:

@M_Smart007 wrote:


"EQ 33 INQ l TU 29 INQ l EX 48 INQ l "  That is pretty excessive! IMO   ...you definitely need to Garden!

 

 


Hopefully that's all it is....the inquiries .  Which only takes patience and time, hit the Garden for sure.

OP, when are those inquiries scheduled to fall off?


OP - just curious, what are all those inquiries from?  Many people wouldn’t amass 100+ inquiries in a lifetime. 

Message 19 of 28
Kasuito39
Frequent Contributor

Re: GrRe: Discover prequal is a joke

90% of this inquiries were from car dealerships when we were rate shopping in 2017 and 2018. They are scheduled to fall off by end of spring next year. I had not updated my signature for over a year but i just did. Thanks to those of you who pointed that out, very helpfull. For now, gardening is my best option. I'll continue to rely on CLI's on my current cards while using AZEO.
Message 20 of 28
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