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Discover it® Cash Back Approval.

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Anonymous
Not applicable

Discover it® Cash Back Approval.

Discover pulled from Experian as expected - was a 667 (currently rebuilding from low 400s... it's been a long road.) 2% credit utilization ratio, 30,000 trade line auto loan. I'm thankful I was approved for a card, but they only approved me for a $500 credit line. Seems like a waste of an account. 

Message 1 of 12
11 REPLIES 11
19eighty5
Senior Contributor

Re: Discover it® Cash Back Approval.

Congratulations on your approval! That SL will grow in no time. Also, welcome to the forums!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 2 of 12
MrPSS
Regular Contributor

Re: Discover it® Cash Back Approval.

Congrats on the approval! Seems like Disco's dishing out low SLs lately for mid 600s. There is a ton of info on rapid CLI's with them however! Keep us posted how it grows. Smiley Happy

Current: Gardening...


FICO 8: EX:TU:EQ:

As of Aug 2020. Total CL: $46,600; Goal: $50,000
Message 3 of 12
Anonymous
Not applicable

Re: Discover it® Cash Back Approval.


@Anonymous wrote:

Discover ... only approved me for a $500 credit line. Seems like a waste of an account. 


I understand the disappointment. However if you read some of the dedicated Discover threads you'll discover (pun intended) $500 today can be 15K tomorrow.

Congrats! on getting approved.

Message 4 of 12
Anonymous
Not applicable

Re: Discover it® Cash Back Approval.

1985, I'm hoping so! I'm above a 650 on all three bureaus with a pretty extensive report (two auto loans, 2 credit cards, personal loan, student loans.) I do have quite a few hard inquiries (around 30 on each report) from auto shopping and refiancing and my DTI ratio's a bit high (35%), but a $500 CL is kind of a smack to the face.

 

Also, thanks! I've browsed the forum for awhile, but never decided to sign up until just today. 

Message 5 of 12
MartyWrite75
Valued Contributor

Re: Discover it® Cash Back Approval.

Don't despair. My SL is 900, but I was happy my foot is in the door. Discover can grow rather quickly. Just be patient and enjoy your Disco! Congratulations!
March 2024: Experian 762; Equifax 767; Transunion 769


Cards I Have:
Cap One QS: $600 (Sock drawer) || Cap One QS (#2): $6,200 (Sock drawer) || Discover It: $11,400 || Cap One Walmart: $600 (Sock drawer) || AMEX BCP: $8,900 || Amazon Prime Store Card: $10,000 || FNBO Rewards Visa: $2,600 || Discover Cash Back: $5,500 || Citi Custom Cash: $9,500 || Verizon VS Visa: $10,000 || Amex Hilton Honors: $10,000 || Amazon (Chase) Prime Rewards (VS): $9,500

Wishlist Cards:
Paypal Mastercard || Bread Mastercard

Gardening to 04/2024(ideally)
Total Utilization: 11%
Inquiries: Exp: (2) Trans: (1) Equif: (1)

Message 6 of 12
Thatficotho
Valued Member

Re: Discover it® Cash Back Approval.

I. Suddenly greatful for my 2K SL; I’ve read a lot of recent approvals at 500 or 900. I can’t wait for it to grow. I was approved at around 660 with 18% útil. 

Message 7 of 12
Anonymous
Not applicable

Re: Discover it® Cash Back Approval.


@Anonymous wrote:

1985, I'm hoping so! I'm above a 650 on all three bureaus with a pretty extensive report (two auto loans, 2 credit cards, personal loan, student loans.) I do have quite a few hard inquiries (around 30 on each report) from auto shopping and refiancing and my DTI ratio's a bit high (35%), but a $500 CL is kind of a smack to the face.

 

Also, thanks! I've browsed the forum for awhile, but never decided to sign up until just today. 


Be grateful that Discover even approved you with your profile. I got my first CLI auto fromt them 4 months after I got the card. It will grow sooner than you expected. Good luck!

Message 8 of 12
SarahJo
Established Contributor

Re: Discover it® Cash Back Approval.

Never fear, it will grow!  I started at the $500 limit as well just shy of 2 years ago, at $3100 now.  Not leaps and bounds, haha, but progress nonetheless ;-)  Congrats!!!


Present Day...Equifax: ???, TransUnion: 777, Experian: 781
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
Message 9 of 12
Anonymous
Not applicable

Re: Discover it® Cash Back Approval.

I've never considered applying for a Discover card until today - do they have strict criteria? My scores may be on the lower end, but my report definitely isn't bad. Great payment history, low credit utilization, good mix of trade lines. 

Message 10 of 12
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