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Update: Approved Finally got DISCO pre approved. Should I go fo it?

whodatpr84
Established Member

Update: Approved Finally got DISCO pre approved. Should I go fo it?

Hi All!

Here's the skinny: I had been hitting up the Discover Pre Approval page ever since last March (just before COVID) because I wanted to see chances for getting my first Credit Card ever. Every single time I hit the page, the only offer that came back was the Disco Secure. That is, until today. I hit the check button after inputting all the info, and it came up with the following:

 Congrats, you are pre-approved:

1. Discover IT MIles-0% intro APR for 14 months, then 22.99% after. (same terms for Balance Transfers)

2. Discover IT Cash Back-0% intro APR for 14 months, then 22.99% after. (same terms for Balance Transfers)

So what has changed since last time I checked the pre approval page almost 2 weeks ago? Well last week, my wife added me as an authorized user on her TJ Maxx CC account and today my EX FICO score went up 2 points to 707. Since I don't have CC reporting yet, my Credit Usage went from 0% to 51% (the limit on tah that card is $1,700.00 and balance is $859.00). So that balance transfer offer looks pretty good in that the TJ Maxx Card is at a 29.99% APR (she got it almost 5 years ago and has not missed a payment ever). I've got 2 HP on there (1 last month for AMEX, which btw I got approved for- the BCE $1k SL but has not reported yet so it doesnt come into play to this) and one from January 2019. I also have a car loan from this past June that has been paid on time every month.

 

Should I pull the trigger on this? I want to keep growing my score, and have steady income ($61k). I don't plan to carry more than a 10% balance on any cards I get approved for. I guess I would not mind if the SL would be like, $1k or whatever, since I just want to keep establishing good cresdit with new accounts to then get better SL on my goal cards.

 

What do you guys think?

P.S. My goal cards are: Chase Saphire Preffered, Citi Costco Visa, and Barcalys Jet Blue. 

 

14 REPLIES 14
SatanFlower69
Frequent Contributor

Re: Finally got DISCO pre approved. Should I go fo it?

I would go for it. Only thing that might make me hesitate is they seem to be offering you the highest APR. But you have a 0% offer for a year so if you don't anticipate carrying a balance and plan to PIF later then its not really an issue. Not knowledgeable enough to determine whether the highest APR correlates to what type of SL you might receive but maybe more experienced members can help with that. Smiley Happy GL if you decide to apply! 




Message 2 of 15
M_Smart007
Epic Contributor

Re: Finally got DISCO pre approved. Should I go fo it?

Higher APR, can be lowered by calling Discover over time.

So I would not let that discourage you.

 

I read that you have some goal cards, one being Chase.

As long as it does not hinder your 5/24?

And you can utilize the Discover card, I see no reason not to.

 

One thought is, Discover is usually akin to thinner profiles.

 

Definitely weigh out the advice other poster's have/will give.

 

Good Luck!

Message 3 of 15
SanDiegoCredit
New Contributor

Re: Finally got DISCO pre approved. Should I go fo it?

I would go for it.




Credit Age:




Gardening since November 6, 2020.
Message 4 of 15
whodatpr84
Established Member

Re: Finally got DISCO pre approved. Should I go fo it?

Hi all!

Quick Update: Went for it today, submitted my application, then got to the page were it said I was approved. Then had to click on check credit line link, input some info, and then saw it: "your credit line is $7,000.00"!!!! I was NOT expecting that high of a SL!

 

Thanks for the input. Super excited!

Message 5 of 15
SanDiegoCredit
New Contributor

Re: Finally got DISCO pre approved. Should I go fo it?

Congrats!




Credit Age:




Gardening since November 6, 2020.
Message 6 of 15
SatanFlower69
Frequent Contributor

Re: Finally got DISCO pre approved. Should I go fo it?


@whodatpr84 wrote:

Hi all!

Quick Update: Went for it today, submitted my application, then got to the page were it said I was approved. Then had to click on check credit line link, input some info, and then saw it: "your credit line is $7,000.00"!!!! I was NOT expecting that high of a SL!

 

Thanks for the input. Super excited!


Sweet! Enjoy your new card. Smiley Very Happy




Message 7 of 15
M_Smart007
Epic Contributor

Re: Finally got DISCO pre approved. Should I go fo it?


@whodatpr84 wrote:

Hi all!

Quick Update: Went for it today, submitted my application, then got to the page were it said I was approved. Then had to click on check credit line link, input some info, and then saw it: "your credit line is $7,000.00"!!!! I was NOT expecting that high of a SL!

 

Thanks for the input. Super excited!


@whodatpr84, Congratulations on your Discover Approval.. Nice CLSmiley Happy

Message 8 of 15
gdale6
Moderator

Re: Update: Approved Finally got DISCO pre approved. Should I go fo it?

Grats and welcome to the Disco family Smiley Happy

Message 9 of 15
AllZero
Super Contributor

Re: Update: Approved Finally got DISCO pre approved. Should I go fo it?

Congratulations on your approval!
Message 10 of 15
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