Need advice on discover it

[Anonymous]

I've been lurking around the forum for about a year I've learned alot I went from a 532 vantage score to above a 720 fico 8 from all bureaus in under a year my last collection fell off yesterday which brought my ficos into the 700s I want to apply for the discover it with the rotating categories I'm wondering if I should apply now or wait just wanted alittle advice I have a prequal from discover for 0%apr for 14 months than 23.49% after that here a some data points

EQ 748 fico8
EX 724 fico8
TU 728 fico8

Cap1 platinum secured $500cl 9 months old
Cap1 platinum quicksilver $400cl 4 months old
Langley federal select $2000cl 2 months old

I'm also a AU on a chase card that's 25 years old 6500 cl only shows on Equifax that's why its higher

No baddies on any report
I'm interested in the discover it since it's basically a 2% card for the first year with 10% categories I figure if I get it I can garden for a year since I'll be getting everything I want out of that one card

[Anonymous]

In my experience the Discover pre qual is a solid offer. With your scores and 3 accounts you should be good to go.

What’s the rest of your report look like ? Any baddies Average age of credit ?

Have you looked into any chase cards as it appears to be you are under 5/24 rule. ( 5 new accounts within 24 months) if you have any interest in chase you would want to grab their cards prior to filling your 5/24 slots.

[PackAttack07]

You are at the absolute top of the range for APR (13.49% - 24.49%) and your 12 months offer of 0% is below the public offer of 14 months at 0%. If you think your score will be improving or negatives aging out anytime soon, it may be worth waiting since the offer APR and 0% length can be a decent indicator of the credit limit you'll get.

I got a Discover It with scores lower than yours though so pretty sure you'll be approved. Also FYI I was able to get them to reduce my standard APR twice for a total of 5% reduction or so, not that you ever want to be a position where you're paying that.

[Anonymous]

I would go for it. When my DH checked the prequal it listed his APR at 24.xx% with the 0 for 12 months. He applied and was approved, but when he got the card and paperwork it actually ended up being 13.49% APR after the intro APR. Not sure if that was a fluke or what but we were pretty excited!

[Anonymous]

My average account age is 5 months theres no baddies on my report no lates or anything I am interested in chase but with my profile being so young I didnt think ide get in I figured I could get the discover it than garden for a year and try with chase thanks for the replies it helps alot

[Anonymous]

Also I just did the prequal again its 14 months no interest than 23.49% sorry I didnt remember correctly

[Remedios]

Let your accounts age. You have three already. Your results will certainly be better if you wait longer. 

If you dont mind ending up with toy(ish) limits and high APRs, go for it.  Discover prequals tend to be pretty solid. 

[Anonymous]

As mentioned, Discover prequals are pretty solid. Congratulations on receiving a prequal!

The choice to apply is completely up to you. If Discover is truly the card you want, go for it.

No one here can guess your credit limit and APR as mentioned above isn't really an indicator for credit line.

Side note:

I have  4 90 day lates on my report and 1 paid collection and Discover approved me for $9500 Credit line back in April. They tend to like people who are coming out of a rebuild and who have a thinner file. Can't promise it will be that way for you but I have seen it more often than not.

[FireMedic1]

Welcome @Anonymous  I got my first card 1.7 yrs out of BK. Yes it was high APR. But I always PIF. Few months after cash back match. I got the 2cd card and learned how to rack up the cash back match 13.4 % and still PIF. Just closed the 1st card and the 2cd went from 7k to 12k in just a tad over a year. So it was a build up with Missy.  Prove yourself with the first. Get rewarded on the 2cd. Out of the 2 cards. Total CB was $1400.00+.

[AverageJoesCredit]

Holy fico🤯 @FireMedic1 . Thats a hecka gift from Miss Disco. Im on the lower end so she has to just understand McDonald's is as fancy as she'll get