Why won't Discover approve and what cards to apply for and when?

[Anonymous]

So my DH has a very thin file. Recieved a Cap1 secured 11/15 went from $200 after $99 deposit to after 6month statement cut to $1900, AU on my 2 starter Cap 1 cards from 11/15 $1300 and $2000, AU on my Target card 12/15 $800, and just recently he got approved for a Marvel MC at $2500 increased to $6000 and a Chase Freedom SL $2000 in May 2016.

Scores are

TU 699 Inq 16 - 7 will fall off by end of 2016

EQ  668  Inq 13 - 5 will fall off by end of 2016

EX 688  Inq 8 - 4 will fall off by end of 2016

Util 14%

Nothing bad on his report at all. Had no report up until the secured Cap 1 card.

Income is 92,000

He applied for a Discover turned down. What does he need to get the Discover IT card? Was turned down right before he applied for Chase.  Happy that we got in the door with Chase, the prequal site said Freedom and Slate.  We chose Freedom for the 5%. My other question is that he would like a travel card, we do not fly much mostly stay in hotels a lot. For his profile what is a good card for that?

To be approved for some of the better starter limit cards that have good cash back benefits and travel rewards how long should he garden these cards?

Can give any other info if needed. Thanks!

[Pway]

Discover is very odd.  They have their profiles that they like and one's that they don't like.  I have been denied for them about three times.  I have a discharged bk.  

What was the reasons listed on the denial letter?  

[Anonymous]

What was the reasons listed on the denial letter? Short credit history.

[Anonymous]

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@Anonymous wrote:

My other question is that he would like a travel card, we do not fly much mostly stay in hotels a lot. For his profile what is a good card for that?

To be approved for some of the better starter limit cards that have good cash back benefits and travel rewards how long should he garden these cards?

Can give any other info if needed. Thanks!

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The travel cards that come immediately to mind with that focus on hotels are the Chase Sapphire Preferred and the AMEX Starwood Preferred Guest. The CSP is great not only for transferring to airlines like United and Southwest, but also to hotels like Hyatt. It might be a little challenging to get the CSP at this point though - he might try gardening for 6 months first, while checking the Chase prequal regularly. Banking with Chase helps too, in my experience. I'm not sure how difficult the AMEX SPG is to get - but not only is it a good hotel card, it also transfers excellently to a whole slew of airlines, if you starting flying more someday.

The AMEX Premier Rewards Gold should be much easier to get at this point, but it doesn't seem to be a good hotel card (bad transfer ratios to Hilton, etc.)

I would also consider some of the other hotel cards, depending on your hotel preference, e.g. the Chase IHG card.

If you go for Chase though, make sure you have fewer than 5 cards in 24 months. I'm not a 100% sure if the co-branded cards (e.g. IHG) are completely affected yet (check the various boards here for that).

Good luck!

[RonM21]

Good point to be aware of the Chase 5/24 rule. It's gotten a lot of people lately.