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Anyone approved for Discover with a chargeoff on credit record?

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treefrogger
New Contributor

Anyone approved for Discover with a chargeoff on credit record?

Has anyone been approved for a Discover (More, etc.) with a chargeoff on their recent credit history (1-2 years)?

 

Is this an automatic disqualifier with Discover?

Message 1 of 14
13 REPLIES 13
tntexans72
Valued Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?


@treefrogger wrote:

Has anyone been approved for a Discover (More, etc.) with a chargeoff on their recent credit history (1-2 years)?

 

Is this an automatic disqualifier with Discover?


I am sure OP will chime in but I know you will 90% be denied if you have a CO with Discover, CITI, Chase or most prime banks.

Message 2 of 14
DI
Super Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?

Discover do not like COs.  I applied for a Discover card in April 2009 while I had a CO in my credit files and got denied.  In June 2009, I got the CO deleted.  July 2009, I reapplied and got approved. 

Message 3 of 14
tntexans72
Valued Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?

I am going to add...if you have a clean squeaky CR but a lower credit score, most prime banks (Discover, CITI, Chase, etc..) will approved but with a smaller CL. So IMHO, don't waste a hard inquiry if you have a CO for one of these cards. Your chance of approval are very slim IMHO. Find the alternatives banks or until you get that CO removed.

Message 4 of 14
bbb925
Regular Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?

Just because the CO's are so recent, I think it will be difficult for you to get the Discover card. I have to agree with tntexans72. Smiley Happy

Message 5 of 14
mtva24
Valued Member

Re: Anyone approved for Discover with a chargeoff on credit record?

I am going to find out once my First Premier updates on my credit report. I just got approved for a NFCU w/ a $5000 CL so I am feeling like rolling the dice again lol. I have a settlement with Cap One from about a year ago, so we will see what they say to that. Wish me luck
As of 2/13/2012: Experian - 633; Equifax - 616; Transunion - 644 FAKOs
First Premier Gold - $350; First Premier Platinum - $400
Orchad Bank - $200 (Secured)
Crap One - $500
Navy FCU - $5,000
Wells Fargo Mortgage (w. Wife $150,000 bal) & Auto ($12,000 bal)

Credit Keeper FAKOs
Experian - 633
Equifax - 616
Transunion - 644

Using 81% of my limits (Thanks NavyFCU!)
Message 6 of 14
DI
Super Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?


@mtva24 wrote:
I am going to find out once my First Premier updates on my credit report. I just got approved for a NFCU w/ a $5000 CL so I am feeling like rolling the dice again lol. I have a settlement with Cap One from about a year ago, so we will see what they say to that. Wish me luck

The only way to truly find out is submit the application.  We are only speaking from experiences.  Some may just be speculating. 

Message 7 of 14
tntexans72
Valued Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?


@DI wrote:

@mtva24 wrote:
I am going to find out once my First Premier updates on my credit report. I just got approved for a NFCU w/ a $5000 CL so I am feeling like rolling the dice again lol. I have a settlement with Cap One from about a year ago, so we will see what they say to that. Wish me luck

The only way to truly find out is submit the application.  We are only speaking from experiences.  Some may just be speculating. 


I agree 100%. You don't know til you app.

Message 8 of 14
Kris1228
Regular Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?

I was approved with 2 credit card charge offs (paid) 6/1/10 and a 9 year old BK on my reports.. CL 1000 and 2 auto increases to 1700 total currently.
FICO's - 3/14/14 TU 795 4/17/14 EQ:805 3/7/14 EX: 801


Baddies all Gone
Message 9 of 14
tntexans72
Valued Contributor

Re: Anyone approved for Discover with a chargeoff on credit record?


@Kris1228 wrote:
I was approved with 2 credit card charge offs (paid) 6/1/10 and a 9 year old BK on my reports.. CL 1000 and 2 auto increases to 1700 total currently.

So your CO were paid...that's great. Is it still on your CR or did it dropped? And if it's still on your report, does it report as paid or settle?

 

Message 10 of 14
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