Approved for first Discover IT card (Cash Back)

[Anonymous]

I've checked Discover prequals a few times over the past several years and was never matched.  I checked last weekend after reducing existing utilization to 50% and no match.  I signed up for their free score monitoring and figured I'd wait it out.

Yesterday, I got an email asking if I wanted to check prequals so I decide to this morning.  Matched with Cash Back and Chrome!  Opted for Cash Back to take advantage of rotating 5% categories.

SL is only $750, but I'm just happy to finally have a no AF Discover that's not secured.  Should I call in for a recon on the SL or just let it ride and watch for auto CLI after several statement periods of usage?

Overall current utilization is 30%, annual salary is ~$160K with current highest card CL at $10K.  

[CreditCuriosity]

Curious what your scores are?  Seriously 500 at 160k income, granted your utilization is high and not sure of you DTI and other factors.  that is less than a days worth of work CL .  Suppose it is an "in" with discover though and they don't really recon persay

[AverageJoesCredit]

No recon, work on whatever is holding you back and your second Discover most likely will be much better sl in a years time. Id still take $160k over ANY credit card

[Anonymous]

My last FICO 8 was around 605, but that was with the 50% utilization reporting.  I haven't gotten an update since dropping to 30%.  Even last week's Discover no-match reported a 604.  CapOne Creditwatch had me at 595 last weekend and my next update is tomorrow so I'm guessing I'll see a little jump.

My Credit Karma scores did update to TU 623 (+14) and EQ 619 (+15) yesterday after recognizing the 30% utilization.  I know people say don't depend on those scores, but at least as an indicator of movement they were pretty strong jumps.  

I do have one Best Buy CO still reporting a high balance so perhaps that's keeping the CL down?  It's my only derog.  My DTI is about 31%.

I've been rebuilding over the past 3 years or so, I guess I'm at the finish line as I setup the BB settlement for 6 monthly payments this week, though I may go ahead and pay it all as soon as I get the settlement letter from Citi just to have clean current reporting.

[AverageJoesCredit]

Yeah, if you can pay it now, do so, always better to have something paid than have it linger

[pinkandgrey]

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@AverageJoesCredit wrote:
No recon, work on whatever is holding you back and your second Discover most likely will be much better sl in a years time. Id still take $160k over ANY credit card

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I was thinking the same thing! Lol. Congrats on a new Disco card! It will grow so don’t worry about the SL at all. Getting in with Disco is the start of a beautiful friendship. 

[FicoGuy2019]

Congrats...definitely pay that co...and if possible, get it removed.  Even still, paying it is better than having it open.

[M_Smart007]

Congrats!!!!

[gdale6]

Sweet and welcome to myFico

[Remedios]

Congrats on your approval