Holding out for Discover It

[Anonymous]

New here to myfico. I just joined last week but stalked the forumns for months. I have been rebuilding my score from high 400's EQ, low 500's TU, and 0 EX. Currently I'm at EQ 642, TU 621, and EX 639.

I have no collections and 2 paid charge offs that report $0 balance. I have 6 late payments on my student loans from 2013 30-180 days and 2015 30-60 days. Ed Financial said they would remove them if I could prove I had government assistance during those time. I did so I faxed that over and will find out for certain on Tues/ Wed of this week if they will remove. They report on the 30th so they should be removed by next week. Only other late was a 30 day on my husband's Best Buy card I am an AU on from a year and a half ago.

I have a car loan 34,000
2 paid off student loans
1 open SL 3600
And $2200/11,100 revolving ( all on the Best Buy with 0%)
AU on Jeep Master Card only on Experian

Do you think the Discover It will be within reach for me if the lates are removed? All I have is store cards, I want an actual every day card. I don't dare apply unless those lates are removed even though I've gone through the app 3x but exited

[Anonymous]

With the negs removed, definitely.  They like thin files.

[Anonymous]

Fingers crossed. Any other cards that you would recommend? I really don't want starter cards if I don't have to. I hear good/bad with capital one. I don't even get a pre approval with them now and I see others with lower score getting them

[Venom911]

I agree with WaveRider that they like thin files. I had a friend with zero history and no score who really liked discover. He took the chance of applying for the discover it card and boom he was approved for $1500. He couldn't believe it since alot of ppl here are struggling to get discover to approve them.

[Anonymous]

Someone correct me if I'm wrong, but if the OP has Charge Offs in addition to late payments on his credit report, removing the late payments really won't do much for his score at all as he'll still be in a dirty bucket with the presence of other baddies still on there.  The major score increase you get is when you move from dirty to clean.  There are dramatically diminishing returns when you are talking the presence of several negative accounts.

My EQ score (clean) is 77 points and 90 points higher than my TU and EX scores respectively because TU and EX each still have one dirty account.

[Anonymous]

That is disheartening to hear. I worked so hard to get the collections off (4) and get the lates removed. That's sad to hear the 2 paid charge off will keep me from going any higher point wise.

[medicgrrl]

Don't be discouraged.  Having all that removed still looks good on review.  Also, your most recent late is on an account that you are an AU on and it also has 20% utilization.  You stated you have your own store cards.  Is there a reason you are remaining an AU on this account and leaving it on your report?

[Anonymous]

I got approved for a Discover It, $2500 SL, last month with a 2014 BK and at least 6-7 CC and mortgage accounts included in it, plus a 4-month stretch of lates on my student loan in late 2013-early 2014, so if I did it, you can too!

[Anonymous]

I am still an authorized user on it because it's my husband's card and I use it. They said I had to be to use it, plus it has a $5000 limit so it's making a huge difference in credit available to me, almost half. I planned on removing myself when I was able to get prime cards on my own.

That gives me encouragement that you were able to get one. I find out for sure tomorrow if the lates are getting removed. If so, as soon as they are removed hopefully next week I can apply. My husband got approved for the Discover today for $6500 so I can be added to that as well and removed from the Best Buy if need be

[MrsCHX]

Try again to get the paid off charge offs removed. Goodwill letters to the creditors.

Get off the Best Buy card for now. The late payment is hurting you. You would likely still be able to use the card. Especially with chip readers. My son uses my CCs all the time.