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Pre approval - Discover : Update - Approved

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Anonymous
Not applicable

Pre approval - Discover : Update - Approved

I've been checking pre approvals because my file is thin. Basically only have 5 month cc paid in full. I was just pre approved for the discover it cash back and chrome card. My fakos are around 720. Just wondering if I should pull the trigger. Any chance of getting denied? Thanks. Beginning of the journey and very giddy and impatient.

Message 1 of 13
12 REPLIES 12
CreditCuriosity
Moderator Emeritus

Re: Pre approval - Discover

always a chance in getting denied as nothing in the credit world is guaranteed as people 800+ scores face denials no one bats 100% if they are in the game long enough.  With that said Discover likes a few things.  They like thin files and they like people that just came out of BK and are rebuilding or people with little credit and good scores.  That tends to be their target audience they most aggresively go after and tend to be more generous towards.  If you are pre-qualified through their site with a set apr I say you have a pretty good shot

Message 2 of 13
Remedios
Credit Mentor

Re: Pre approval - Discover

There is always a chance of being denied, but Discover prequals are pretty solid as long as you dont have wide range apr.
I got my disco with 0 cards. I'd pull the plug if I were you
Message 3 of 13
Anonymous
Not applicable

Re: Pre approval - Discover

Crap. I got 5-7 days. Feels defeating!
Message 4 of 13
Remedios
Credit Mentor

Re: Pre approval - Discover

That could be anything.
If you dont hear from them, give them a call, maybe it's verification

Also, you can check status here
https://www.discovercard.com/application/checkStatus
Message 5 of 13
Anonymous
Not applicable

Re: Pre approval - Discover

I got the same thing went to status link ...9500 approval 5 min later

Message 6 of 13
joltdude
Senior Contributor

Re: Pre approval - Discover

Sometimes.. if your rebuilding or new to credit and get a card before discover.. they want to see at least a few months of history with the new card... Saw it with my app years ago and saw it recently with another myfico'er... that said.. the odds are pretty good with the preapproval esp if theres an offer, not a range.. etc etc... 

 

Good Luck

If not.. sign up for credit scorecard if you havent and wait a few months.. not long. and give it another try.. ...

-J

 

Message 7 of 13
NeverGivinUp
New Contributor

Re: Pre approval - Discover

Actually, I got a similar response after apping for their Secured Card. I freaked (feeling pretty defeated) & saw missed calls from Discover. I waited about a week & then logged on to check status.  I immediately got an online CSR popup simply asking to verify phone #, etc. Was approved immediately.  It's probably just to verify information.

Message 8 of 13
Anonymous
Not applicable

Re: Pre approval - Discover

Update.
Yea - got approved
Boo - only 500 CL. What a waste. Should I immediately ask for an increase or wait? Any strategy would be appreciated.
Message 9 of 13
Remedios
Credit Mentor

Re: Pre approval - Discover

Congrats
Wait till after 3rd statement, then ask.
It's rare for discover to give cli earlier than that
( tho, I am sure it's happened before).

Your credit history is only 5 months.
The best strategy is to pay on time and be patient.




Message 10 of 13
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