discover denial

[Anonymous]

Pulled the trigger on discover and was left to lick my wounds lol... I have 30% util 3 inquires in the last 2 years and my oldest account is 3years. and It says too many accounts with balances I only had two cards prior to today.

 (had to take out the links bc it wouldnt let me post) but they offered me a secured card. should I take that after I was just approved for an amex? 

Thank you for considering a Discover® Card.

Unfortunately, we are unable to approve your application at this time. Please see the letter below explaining why we cannot approve your application.

You may be interested in considering the  which is a credit card designed to help build or rebuild credit with responsible use. 

We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes.

Type of credit score FICO
Your credit score 703
Date March 5, 2018
Scores range from a low of 300 to a high of 850
Key factors that affected your credit score were as follows:
LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
LACK OF RECENT LOAN INFORMATION
% OF BALANCE TO CREDIT LIMIT TOO HIGH ON REVOLVING ACCOUNTS
TOO MANY ACCOUNTS WITH BALANCES
NUMBER OF INQUIRIES ON CREDIT BUREAU

[Anonymous]

What CRA did they pull?  30% doesn't seem that bad although under 10% is preferrable.  Discover secured would be a good option and way to get a foot in the door with proper use.

[Anonymous]

Is your AAoA low? Lots of recent inquiries? It seems like they're more spooked by recently opened accounts and possibly seeking credit.

Edit: disregard.... Guess I didn't read the first paragraph

[Anonymous]

Discover can definitely be a tough cookie to crack. They denied me several times for even the secured card before finally getting approved. I plan on using mine and PC to the Miles card after it graduates. That's my only way in with Disc. Good luck to you in whatever choice you make!

[Anonymous]

Their denial reasons seem odd for the stats you provided.

[Anonymous]

they pulled equifax. it said my score is 703 with them, on my credit karma it has my scores at 666. I went to the discover and chase scorecard and both have old score and reporting high utilization. which it was last month as my payment was made the day after reporting. I wonder if they just used those without pulling new data? bc chase denied me as well, it didnt give the scores, just said I will receive a letter.  Also, when I log into my cap1 it has the old score as well. 

on discover dasboard it has my score as 632 fico score 8 and under it the scores range from 580-669. It says 2 account, 3years,0 inquires, 96 revolving, and 0 missed. Its weird that my balance is high bc I paid it. No way amex approves me with almost a 100 uti. 

Should I call discover and chase? or just go back to the garden? 

[Anonymous]

showing chase pulled experian. So they should have had the updated info. I now have 5 inq on my exp. 3 from 2016 and the other 2 from today. 

Amex pulled the same data as chase and approved me for 2 cards. I dont get it. 

[Anonymous]

Disco has been known to use data that is 1-2 months old. Get ur uti down and wait a month or two then try again .It'll be worth it . they denied me one month .Didn't offer secured either .2 months later gave me 10k. I was using their scorecard as well .Oh and also I never got a HP. Good luck .

[Anonymous]

Also my denial reasons were a bunch of crap too .All were untrue at the time. One in particular stated balance on installment loans too high . Well I had one secured loan and owed 97 out of 1100 on it. So I paid it off and applied again 2 months later and they let me in. Oh and yes I tried recon after that BS denial and the guy said there were too many reasons for him to override .Therefore I figured getting that balance down to 0 and the rest being untrue what can they say then? It worked .Hope this helps. 

[Anonymous]

Very interesting.
I was approved for disco but to be honest I’m not that good compare to you expect the fact that my utilization is under 5%.

When I applied for disco (they their mail offer) I had: (note I did it in early February)
- soft pull in December from my apartment complex
- two HPs from Amex and Capone for business credit cards in early January
- 1 HP from chase in late January
- 2 opened and reported accounts . Capone secure and amazon store charge card.

So it’s very weird to me they denied your app.

I got $2000 SL with 20.24% apr after 14 mo intro
AAoA at that time was around 6-9 mo (chase wasn’t reporting at that time)
My score was 724 EX Fico