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discover pre qual & grudges

JcT21
Regular Contributor

discover pre qual & grudges

bk 13 dishcharged.  i have been rebulding for some time now.    im trying to get back in with discover.  started a checking account with them a year ago in hopes of getting a foot in the door.   every month i try their pre qualification and get this result....

 

"Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
STATUS OF EXISTING / PRIOR DISCOVER CARD ACCOUNT"

 

they were IIB.  its been over 3 years since i filed. i burned them for around 4k.  they did get paid back some with my payment plan.   how long do they hold a grudge?  am i blacklisted forever?  ive read the horror stories about amex and their blacklisting.  which i wont even try amex, i burned them for around 2k. 

 

during my rebuild process im 5/5 approvals with no denials yet.  cap1-$3300 SL,  aspire-$2000 SL,  kohls - $500 SL, credit one- $1000 SL, ollo rewards- $1500 SL.     i know gardening the credit ive aquired and let time take care of the rest is what i need to do but i would like to get back on discovers good side.   been doing the azeo method.  seems to work. 

 

credit karma has my vantage score at 730 & ollo says my fico 8 is at 690. 

fico scores - October 2021:
TU 702 | EX 704 | EQ 696 |
Message 1 of 12
11 REPLIES 11
Horseshoez
Valued Contributor

Re: discover pre qual & grudges


@JcT21 wrote:

bk 13 dishcharged.  i have been rebulding for some time now.    im trying to get back in with discover.  started a checking account with them a year ago in hopes of getting a foot in the door.   every month i try their pre qualification and get this result....

 

"Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
STATUS OF EXISTING / PRIOR DISCOVER CARD ACCOUNT"

 

they were IIB.  its been over 3 years since i filed. i burned them for around 4k.  they did get paid back some with my payment plan.   how long do they hold a grudge?  am i blacklisted forever?  ive read the horror stories about amex and their blacklisting.  which i wont even try amex, i burned them for around 2k. 

 

during my rebuild process im 5/5 approvals with no denials yet.  cap1-$3300 SL,  aspire-$2000 SL,  kohls - $500 SL, credit one- $1000 SL, ollo rewards- $1500 SL.     i know gardening the credit ive aquired and let time take care of the rest is what i need to do but i would like to get back on discovers good side.   been doing the azeo method.  seems to work. 

 

credit karma has my vantage score at 730 & ollo says my fico 8 is at 690. 


I don't understand your history; if I read  your post correctly, you stated the following:

  • Your Chapter 13 is discharged
  • You filed over 3 years ago
  • Discover got paid back "some" from  your payment plan

I'm curious, given you were not in a 100% payment plan, how was your Chapter 13 discharged in less than 5 years?

 

As for Discover, I received my Chapter 13 discharge in March of 2020, I never burned them, and yet, even though I was sent several mailers stating I was preapproved, like you I was declined when I applied and declined again on a number of subsequent attempts with their prequal tool.  I guess the moral of this story is Discover simply doesn't like some of us and there really isn't much we can do about that.

I categorically refuse to do AZEO!

Message 2 of 12
JcT21
Regular Contributor

Re: discover pre qual & grudges

My bk plan was 3 years. After 3 years any remaining balances were wiped out.  Discharged November 2020. 

I suppose my best course of action is to garden  using the azeo method and let time do it's thing.  I was hoping the discover checking account would help somehow but I guess not so much. 

fico scores - October 2021:
TU 702 | EX 704 | EQ 696 |
Message 3 of 12
JcT21
Regular Contributor

Re: discover pre qual & grudges

Regarding your signature about the azeo method,  have you found a flaw in it that doesn't work?   If there is a better way I'd love to hear about it

fico scores - October 2021:
TU 702 | EX 704 | EQ 696 |
Message 4 of 12
Horseshoez
Valued Contributor

Re: discover pre qual & grudges


@JcT21 wrote:

Regarding your signature about the azeo method,  have you found a flaw in it that doesn't work?   If there is a better way I'd love to hear about it


A flaw?  No, not a flaw.  More like a distortion.  Many of the posts here suggest it is the gospel truth as the only way to achieve the highest FICO scores, however:

  • I haven't noticed even a single point difference between AZEO and AZET (All Zero Except Two), and I have yet to try AZE3 (you get the idea)
  • Micromanaging your credit card payments to get to AZEO is a royal pain in the hind parts
  • In my limited experimentation (which is a fraction of that of the collective here), individual card utilization is more important than AZEO, to a degree at least.

 

Regarding the final point above:

  • Earlier this year I had two consecutive months of either AZEO or AZET, where the balances were under 5% (actually much lower as they were under $100); my scores remained static for those two months.
  • The following month instead of letting one or two cards report trivial balances, I let one report a 7% balance with the other cards at zero; I lost an average of about 5 points on the FICO scores which changed (some didn't).

As I mentioned above, my testing is but a mere fraction of what other folks have done here, but between the hastle of AZEO and the lack apparent benefit versus paying my cards in full and letting the few charges report which post between payment and statement dates, I refuse to practice AZEO and would instead prefer to just keep the reported utilization low (as in below 5%) on all of my cards.

I categorically refuse to do AZEO!

Message 5 of 12
OmarGB9
Community Leader
Super Contributor

Re: discover pre qual & grudges


@Horseshoez wrote:

@JcT21 wrote:

Regarding your signature about the azeo method,  have you found a flaw in it that doesn't work?   If there is a better way I'd love to hear about it


A flaw?  No, not a flaw.  More like a distortion.  Many of the posts here suggest it is the gospel truth as the only way to achieve the highest FICO scores, however:

  • I haven't noticed even a single point difference between AZEO and AZET (All Zero Except Two), and I have yet to try AZE3 (you get the idea)
  • Micromanaging your credit card payments to get to AZEO is a royal pain in the hind parts
  • In my limited experimentation (which is a fraction of that of the collective here), individual card utilization is more important than AZEO, to a degree at least.

 

Regarding the final point above:

  • Earlier this year I had two consecutive months of either AZEO or AZET, where the balances were under 5% (actually much lower as they were under $100); my scores remained static for those two months.
  • The following month instead of letting one or two cards report trivial balances, I let one report a 7% balance with the other cards at zero; I lost an average of about 5 points on the FICO scores which changed (some didn't).

As I mentioned above, my testing is but a mere fraction of what other folks have done here, but between the hastle of AZEO and the lack apparent benefit versus paying my cards in full and letting the few charges report which post between payment and statement dates, I refuse to practice AZEO and would instead prefer to just keep the reported utilization low (as in below 5%) on all of my cards.


It's been mentioned before that your experience is hindered by the fact that you have a BK showing. AZEO works best on clean files.


Last App: 05/30/2021
Capital One Auto Refinance Loan

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 6 of 12
Horseshoez
Valued Contributor

Re: discover pre qual & grudges


@OmarGB9 wrote:

It's been mentioned before that your experience is hindered by the fact that you have a BK showing. AZEO works best on clean files.


I'm almost positive others with clean files have reported the same thing.  Either way, come next February when my Chapter 13 drops off, I'll be repeating my tests.  Smiley Happy

I categorically refuse to do AZEO!

Message 7 of 12
Anonymous
Not applicable

Re: discover pre qual & grudges


@Horseshoez wrote:

@OmarGB9 wrote:

It's been mentioned before that your experience is hindered by the fact that you have a BK showing. AZEO works best on clean files.


I'm almost positive others with clean files have reported the same thing.  Either way, come next February when my Chapter 13 drops off, I'll be repeating my tests.  Smiley Happy


FICO even shows us why it works best on clean files (this is also on the 1st page of @Birdman7 's General Scoring Primer). Look at utilization.

 

Another important thing to remember is that AZEO really helps with the mortgage scores (EQ5, TU4, and EX2) that are really, really sensitive to balance amounts and number of accounts with balances. The improvement there can be substantial. I can pick up around +20pts easily going from 4/4 to 1/4 on TU4 alone.

 

fico_segmented_scorecards.png

Message 8 of 12
Birdman7
Super Contributor

Re: discover pre qual & grudges


@JcT21 wrote:

My bk plan was 3 years. After 3 years any remaining balances were wiped out.  Discharged November 2020. 

I suppose my best course of action is to garden  using the azeo method and let time do it's thing.  I was hoping the discover checking account would help somehow but I guess not so much. 


@JcT21 AZEO is a pain and should be used when preparing for an app, not while gardening, unless for testing purposes.  Serves no benefit while you're gardening. 

Message 9 of 12
FinStar
Moderator

Re: discover pre qual & grudges


@OmarGB9 wrote:

@Horseshoez wrote:

@JcT21 wrote:

Regarding your signature about the azeo method,  have you found a flaw in it that doesn't work?   If there is a better way I'd love to hear about it


A flaw?  No, not a flaw.  More like a distortion.  Many of the posts here suggest it is the gospel truth as the only way to achieve the highest FICO scores, however:

  • I haven't noticed even a single point difference between AZEO and AZET (All Zero Except Two), and I have yet to try AZE3 (you get the idea)
  • Micromanaging your credit card payments to get to AZEO is a royal pain in the hind parts
  • In my limited experimentation (which is a fraction of that of the collective here), individual card utilization is more important than AZEO, to a degree at least.

 

Regarding the final point above:

  • Earlier this year I had two consecutive months of either AZEO or AZET, where the balances were under 5% (actually much lower as they were under $100); my scores remained static for those two months.
  • The following month instead of letting one or two cards report trivial balances, I let one report a 7% balance with the other cards at zero; I lost an average of about 5 points on the FICO scores which changed (some didn't).

As I mentioned above, my testing is but a mere fraction of what other folks have done here, but between the hastle of AZEO and the lack apparent benefit versus paying my cards in full and letting the few charges report which post between payment and statement dates, I refuse to practice AZEO and would instead prefer to just keep the reported utilization low (as in below 5%) on all of my cards.


It's been mentioned before that your experience is hindered by the fact that you have a BK showing. AZEO works best on clean files.


And, to add to the above (+ @Anonymous's evidence) for those who wish to exercise AZEO (or any variants thereof), it's their own prerogative.  So, if someone doesn't subscribe to such methodology based on their own testing, fine - you do you.  But, if other individuals choose to manage (or micromanage) their [AZEO] reported utilization and it's working with measurable results, that's their choice.

Message 10 of 12
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