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Finally pre-approved! - Update: Discover Approved

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Established Member

Finally pre-approved! - Update: Discover Approved

I've been doing the Discover pre-approval page for about 2 weeks, and it finally came back with It and Chrome versus the Secured card. 22.99% APR on both. Not awesome, but I want in and will PIF (well, not full...probably carry a small balance since they like revolvers). So I'm going to pull the trigger on the It.

I was also pre-approved for Cap1 Savor, Quicksilver, and Venture last night. Showed solid/single APR's all around 25% (boo). It listed the Savor first, and I'm thinking of going for that one and putting all my dining on it. I do eat out a lot, and my life partner and I plan to start traveling a lot next year once he retires. He thinks he will have us covered as miles goes so he doesn't think I should focus on a travel card. So I'm thinking we could put all dining expenses on Savor.

Here's where I need advice though....
I plan to buy a new Ford Flex at the end of the year...so in about 2 months. My CX-9 isn't doing so great, and I'm ready to trade it in for a Flex. Since I have negative equity in it, I'm thinking I'll try for a 2018 Flex so they can bridge that gap better. Anyway, would it be unwise to apply for 2 cards and have 2 new revolving accounts right before trying for a loan? I'd very likely be financing it through my local credit union who I have a relationship with. They were gonna finance a $25k loan in June for a used Flex, and that was after having opened a Kohl's card in March, and taken out a personal loan at one of those crappy loan shark companies (before I knew better) in April. So I guess I shouldn't be so worried about it. But I am. I don't wanna knock myself down into a lower tier and pay more interest on a $30-35k loan over a CC. That being said, I definitely am getting the It. I actually need it. All I have now is a CreditOne card with a $450 CL. (And don't get me started on how they are. lol)

My FICO 8's: 715 EX (through EX and Discover Scorecard), and when I signed up for EX, it showed my EQ as 712. I assume TU is very similar now (it was at 687 at the time because it hadn't updated) because my EQ and TU FAKO's are both 690. So being so close to 700 is what gives me pause...don't wanna get knocked back down under it. 

 

Mod note:  I've updated your subject to reflect your approval; feel free to change/edit if you would like.  --UB

Message 1 of 13
12 REPLIES 12
Established Member

Re: Finally pre-approved! But have questions before pulling trigger....

I went ahead and applied for the It. I was so afraid they were gonna change their minds or something. LOL I was approved and my SL is $7,500!
I. About. Died.
It feels like Christmas. lol It DID require a HP from EX, and EX notified me that my score decreased from 715 to 714. Now just wondering how the new account is gonna stir my credit bowl mix. My AAOA is 2 years and some odd months. Anxious to see what it does to that. I'll be paying off that personal loan in about a week and half, but it will still factor into my new accounts, correct? (It was opened in April.)
Message 2 of 13
Established Member

Re: Finally pre-approved! But have questions before pulling trigger....

Might be worthy to note that this time I did the pre-approval from the Discover Scorecard site, rather than just going straight to Discover's pre-approval page. Can't imagine that would really matter, but it did produce a different result so...who knows.
Message 3 of 13
Frequent Contributor

Re: Finally pre-approved! But have questions before pulling trigger....

Congrats! Good SL. Hold off on Cap One, at least until you get car. Cap One will pull all 3 reports with HP.
Message 4 of 13
Valued Contributor

Re: Finally pre-approved! But have questions before pulling trigger....


@Tapdnsr25 wrote:
I went ahead and applied for the It. I was so afraid they were gonna change their minds or something. LOL I was approved and my SL is $7,500!
I. About. Died.
It feels like Christmas. lol It DID require a HP from EX, and EX notified me that my score decreased from 715 to 714. Now just wondering how the new account is gonna stir my credit bowl mix. My AAOA is 2 years and some odd months. Anxious to see what it does to that. I'll be paying off that personal loan in about a week and half, but it will still factor into my new accounts, correct? (It was opened in April.)


















Your FICO credit scores are not just numbers, it’s a skill.

Message 5 of 13
New Contributor

Re: Finally pre-approved! But have questions before pulling trigger....

Congrats! 


10/18
EQ 618
TU 636
EX 625
6/19
EQ 628
TU 644
EX 654
Message 6 of 13
Established Member

Re: Finally pre-approved! But have questions before pulling trigger....

Thanks, Guys! I couldn't have done it without this forum, which would be nothing without its contributors, so MAJOR thanks to everyone who takes their time to contribute to this community. Because of you guys, I finally have a productive obsession...I mean hobby. Smiley Wink
Message 7 of 13
Established Member

Re: Finally pre-approved! But have questions before pulling trigger....

I'll be sure to post when I get the card and the email. I guess I'm going to finally bite the bullet and pay for MyFICO scores so I will know exactly how the new account affects them and so I can post the before and after data points as well. I'm going to try to make everything else the same as it was last month, paying my CreditOne card down to the same dollar amount as last month to keep everything as close as it was, as a control.
Message 8 of 13
Valued Contributor

Re: Finally pre-approved! - Update: Discover Approved

Congrats on the approval. Ditto the wait on cap1. Also, have you tried seeing what kind of numbers you can get from Carmax/Vroom to buy out your car? They may be able to pay more then what a trade in value is for your car.



Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 9 of 13
Senior Contributor

Re: Finally pre-approved! - Update: Discover Approved

Congratulations on your approval!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 10 of 13
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