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Approved for Discover Secured 10-8, questions

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Established Contributor

Approved for Discover Secured 10-8, questions

Hello,

 

I was approved for the Discover Secured via the prequal site on the 8th of October.  I was curious about how long it has taken others to report.  Have not received the card either but that is fine.

 

Data:

Pulled EX - 546 FICO8

$1,000.00 Secured, Funded ACH next day.

3 Collections (2015), 8 or so CO's from early 2014.

 

Edited to correct FICO score...




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 1 of 18
17 REPLIES 17
Regular Contributor

Re: Approved for Discover Secured 10-8, questions

Congratulations on your approval! It took mine about 2 weeks to report. Either right before or the day after I got the card.

Starting Scores 1/2018:



Current Scores:

Message 2 of 18
Established Contributor

Re: Approved for Discover Secured 10-8, questions

Great, thank you.   I was curious as I had experienced cards reporting well before I got them...  back when I was in excellent FICOland.




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 3 of 18
Frequent Contributor

Re: Approved for Discover Secured 10-8, questions

First of all congratulations.

 

I think mine reported a couple of days after I got the card and started using it. While you wait you can always call customer service and find out when they will report to the credit bureau. My Discover bill is due on the 22nd of each month but they report on the 28th. If you know that you can pay it down a couple of days before it reports to show a low UTI rate.







Biz Cards
Message 4 of 18
Established Contributor

Re: Approved for Discover Secured 10-8, questions

Thank you all.  I had tried the prequal site for months...  starting in the 530's on TU   Though I knew they used EX for the prequal they usually seemed to pull TU for people.  I decided to give it another shot once TU broke 570 after my SSL reported.  Sure enough they did prequal me and then pulled an EX 557 08.  Just glad the prequal was solid.  The app went right through to an approval just like the old days before my personal credit Armageddon of 2013-4. Smiley Happy

 

Looking for another solid secured card to add to the Discover and NFCU nRewards card.  Sadly, Citi, Cap1, US Bank are all out of the question at this point anyway.   Apple, Elements, NASA and DCU are CU options I have.  There is also FNBO which I would not mind.  I have barely any INQ's and want to be careful rather than throwing apps against the wall to see what sticks.  I am maybe a year away from mid 600 scores with one more secured. 




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 5 of 18
New Member

Re: Approved for Discover Secured 10-8, questions

I applied the first week of March 2018 and got it around March 20. $500 secured and it first hit my report about a week later. I started around EX 550, TU 540 and EQ 540. Today I am 605, 605 and 590. I just recieved my 7th statement so hopefully I will be finding out very soon about my status. The first 2 months I was paying enough to keep the usage under 30%. But, since then I have been paying it in full(never more than $300) every month. In the last 2 month I have been able to get approved for 2 unsecured cards, Indigo $300 and Fortiva $350. They are both pretty bottom end cards but anything is going to help as long as you use them right.
Message 6 of 18
New Member

Re: Approved for Discover Secured 10-8

I applied the first week of March 2018 and got it around March 20. $500 secured and it first hit my report about a week later. I started around EX 550, TU 540 and EQ 540. Today I am 605, 605 and 590. I just recieved my 7th statement so hopefully I will be finding out very soon about my status. The first 2 months I was paying enough to keep the usage under 30%. But, since then I have been paying it in full(never more than $300) every month. In the last 2 month I have been able to get approved for 2 unsecured cards, Indigo $300 and Fortiva $350. They are both pretty bottom end cards but anything is going to help as long as you use them right.
Message 7 of 18
Valued Contributor

Re: Approved for Discover Secured 10-8, questions

Congrats on your Disco approval! Smiley Happy

Currently: Gardening since 12/29/2019




Message 8 of 18
Frequent Contributor

Re: Approved for Discover Secured 10-8, questions


@spiritcraft1 wrote:

Thank you all.  I had tried the prequal site for months...  starting in the 530's on TU   Though I knew they used EX for the prequal they usually seemed to pull TU for people.  I decided to give it another shot once TU broke 570 after my SSL reported.  Sure enough they did prequal me and then pulled an EX 557 08.  Just glad the prequal was solid.  The app went right through to an approval just like the old days before my personal credit Armageddon of 2013-4. Smiley Happy

 

Looking for another solid secured card to add to the Discover and NFCU nRewards card.  Sadly, Citi, Cap1, US Bank are all out of the question at this point anyway.   Apple, Elements, NASA and DCU are CU options I have.  There is also FNBO which I would not mind.  I have barely any INQ's and want to be careful rather than throwing apps against the wall to see what sticks.  I am maybe a year away from mid 600 scores with one more secured. 


If you are that low and with nothing negative, your score should go up quick with keeping both cards reporting under 105 UTI. Depending on what your long-term goal is you may want to wait for a pre-approval in the mail. Once your score starts to rise you will start getting offers in the mail. If you were looking at chase cards there is the 5/24 rule and you would want to save a spot for one of them.

 

For me, I have the secured Green Dot $200.00, Discover $600.00, and Citi $200. If I had to do it all over again I would have not gotten the Greendot card as it has taken up a spot for 5/24. Started with a 538-523 score. Just got approved for a NFCU cash rewards for 10K. So now I have one more spot until January 2020. One thing I have learned building credit takes time. just sucks when you want it to happen right now.







Biz Cards
Message 9 of 18
Established Contributor

Re: Approved for Discover Secured 10-8, questions


@Key1920 wrote:

@spiritcraft1 wrote:

Thank you all.  I had tried the prequal site for months...  starting in the 530's on TU   Though I knew they used EX for the prequal they usually seemed to pull TU for people.  I decided to give it another shot once TU broke 570 after my SSL reported.  Sure enough they did prequal me and then pulled an EX 557 08.  Just glad the prequal was solid.  The app went right through to an approval just like the old days before my personal credit Armageddon of 2013-4. Smiley Happy

 

Looking for another solid secured card to add to the Discover and NFCU nRewards card.  Sadly, Citi, Cap1, US Bank are all out of the question at this point anyway.   Apple, Elements, NASA and DCU are CU options I have.  There is also FNBO which I would not mind.  I have barely any INQ's and want to be careful rather than throwing apps against the wall to see what sticks.  I am maybe a year away from mid 600 scores with one more secured. 


If you are that low and with nothing negative, your score should go up quick with keeping both cards reporting under 105 UTI. Depending on what your long-term goal is you may want to wait for a pre-approval in the mail. Once your score starts to rise you will start getting offers in the mail. If you were looking at chase cards there is the 5/24 rule and you would want to save a spot for one of them.

 

For me, I have the secured Green Dot $200.00, Discover $600.00, and Citi $200. If I had to do it all over again I would have not gotten the Greendot card as it has taken up a spot for 5/24. Started with a 538-523 score. Just got approved for a NFCU cash rewards for 10K. So now I have one more spot until January 2020. One thing I have learned building credit takes time. just sucks when you want it to happen right now.


So you were in the low 600's for the NFCU approval?  Yes about the time factor but I have been patient.  I got my nSecured card two years ago.  Now with the discover and SSL loan, I would like to find #3 and practice the AZERO method for awhile.  I should be in or close to the mid 600's in six to eight months, maybe sooner and then have another 16 months until I am free and clear of all derogs.  My goal is to plan ahead, not burn INQ's and be ready to be creditworthy again.  I have never had a Chase card, so that would be cool.  Right now I am 1/24 and will be 2/24 when I find the 3rd secured card.  I want a CU secured card or maybe a NFCU unsecured for #3.  Not sure if I mentioned but Cap1, Citi, US Bank are all out of the picture for now anyway. 




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 10 of 18
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