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Disco Secured Approval

jlh1580
Regular Contributor

Disco Secured Approval

I got approved for the Discover Secured card today! I previously had a Discover It card and it went into colelctions for $1,300.  I paid the collection last week and they approved me for the secured card today with EQ543, TU577, and EX576. I think this is a big step in my credit repair journey!

Rebuilding -->
Starting Scores -- TU:577, EQ:525, EX:572
Current Scores -- TU:676, EQ:627, EX:622
GOAL -- 700+
Message 1 of 10
9 REPLIES 9
austinguy907
Valued Contributor

Re: Disco Secured Approval

Disco is a benchmark that not too many people are able to get into even with great credit some still get declined for even the secured one.  Give it some love and keep the util low and setup autopay.  Let time and payments work their magic on your scores and in 7 months or so it may convert again to a regular card.  

 

Good job getting back in the door!

Message 2 of 10
molly76
Established Member

Re: Disco Secured Approval

I agree...it took 3 tries for me to get a secured, but I was persistent, and it finally happened. Welcome back to the Disco family! 😊

You may also want to check out Self Lender to add a positive line...it's a payment plan that matures into a CD, and they send you a check for what you've paid in at the end of 12 months. My numbers were actually sub-500 because of divorce and baddies, and that company has REALLY helped me out.

Congrsts, and keep growing!
Message 3 of 10
jlh1580
Regular Contributor

Re: Disco Secured Approval

Thanks! Reading around on here I was pretty sceptical about applying again, especially so soon, but I talked to a very helpful guy from discover and he told me to give it a shot. I am glad I gave it a shot. Having a secured card with both Capital One and Discover is going to help me get my credit where I want it to be. With only two revolving accounts, I think I still want to add one more card, but I was thinking about waiting until my scores pop up a little bit from things getting paid down. Also, I don't know what card to go for.

Rebuilding -->
Starting Scores -- TU:577, EQ:525, EX:572
Current Scores -- TU:676, EQ:627, EX:622
GOAL -- 700+
Message 4 of 10
Tigers09
Valued Contributor

Re: Disco Secured Approval

Congrats on the approval! Always good to get back in with a bank you had problems with before.

Continue your rebuild and show them they didn't make a mistake giving you a second chance.

State Farm Rewards (3,000) ~ Marvel MC (8,000) ~ PenFed Power Cash (10,000) ~ PenFed Promise (1,000) ~ PenFed OLOC (500) ~ Discover ($1,100) ~ Citi DC (2,200) ~ NFCU cashRewards (6,200) ~ NFCU Platinum (2,700) ~ NFCU CLOC (15,000) ~ Venture (10,300) ~ DCU Visa (5,000) ~ Chase Freedom (3,000) ~ Amex Hilton Honors (5,000) ~ Amex SPG (1,000) ~ Amex BCE (1,000) ~ Care Credit (15,000)
Current Scores (6/6/18): 697 Transunion, 659 Equifax, 674 Experian
Message 5 of 10
AverageJoesCredit
Mega Contributor

Re: Disco Secured Approval

Nice going, the road can be bumpy but well worth it to continue onSmiley Happy
Message 6 of 10
joltdude
Community Leader
Senior Contributor

Re: Disco Secured Approval


@molly76 wrote:
I agree...it took 3 tries for me to get a secured, but I was persistent, and it finally happened. Welcome back to the Disco family! 😊

You may also want to check out Self Lender to add a positive line...it's a payment plan that matures into a CD, and they send you a check for what you've paid in at the end of 12 months. My numbers were actually sub-500 because of divorce and baddies, and that company has REALLY helped me out.

Congrsts, and keep growing!

Skip Self Lender... go to Alliant.....

And theres reasons why we use Alliant in particular for this kind of loan..

 

Yes you likely have to make a donation to be eligible

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

 

 

 

 

Message 7 of 10
molly76
Established Member

Re: Disco Secured Approval

I looked into Alliant, but didn't have the cash on hand, so it wasn't a viable option for me. I also tried to qualify for a loan through a CU, and couldn't. My need was to establish a solid payment history, amd allow the opportunity to diversify my mix into revolving accts too. There is no one approach that will work for everyone, so it's good to look at the many options out there. I've had a fantastic experience with SL, and if you're in the type of situation that I was in, it is a great option. I'm very happy that I chose to start a relationship with them.
Message 8 of 10
lowkeyorca
Valued Contributor

Re: Disco Secured Approval


@jlh1580 wrote:

Thanks! Reading around on here I was pretty sceptical about applying again, especially so soon, but I talked to a very helpful guy from discover and he told me to give it a shot. I am glad I gave it a shot. Having a secured card with both Capital One and Discover is going to help me get my credit where I want it to be. With only two revolving accounts, I think I still want to add one more card, but I was thinking about waiting until my scores pop up a little bit from things getting paid down. Also, I don't know what card to go for.


If you didn't burn Citi or BoA, you probably have a good shot at those as well. Don't worry about the inquiries for now. They will disappear as the TL's you gain grow.


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 9 of 10
Trekkie813
Regular Contributor

Re: Disco Secured Approval

Congrats on the approval.  I too am a secured disco card holder.  Counting the remaining months til graduation.  Best of luck to us all!

Starting Scores: 09.03.16
EQ: 569 TU: 591 EX: 570

Current Scores:
EQ: 674 TU: 730 EX: 679
Message 10 of 10
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