App'ed Discover....came back with counter offer card, what is this?

[Anonymous]

I app'ed for the Discover More card.  I came back and said they couldn't approve the card I applied for but they had a counter offer.  The terms were 18% APR, no AF, 25 day grace, etc...

But it didn't say what kind of Discover card it was or what my limit was.  It just said I will receive it in 7 to 10 days.

Can anyone explain what I ended up with, or is that par of the Discover "surprise?"

Not sure why they didn't approve my app as-is.

[Anonymous]

It sounds like they gave you the HSBC Discover card. Most have an annual fee. Congrats.

[Anonymous]

Should I have declined the offer?  Will this be one of those $400 CL that doesn't go anywhere?  Is this a Discover Card or is this a bank card with Discover Logo?

They pulled TU.  My FICO is 752, no derogs, low utilization (under 9%), 13 year oldest acct and 4 year AAoA.  Highest CL is BoA $10k.  Have BoA $10k, Juniper $2k, Orchard $800, CapOne $750, Old Navy $1.2k, Target Visa $1k, Chevron/GEMB $1.5k and an auto loan with $17k balance.  All TL's are 3 years or older.  Only had 1 inquiry in past 2 years.

I also have an NFCU Platinum Visa $20k, but it isn't reporting yet.

Message Edited by Angel73 on 07-29-2009 06:35 PM

[Red1Blue]

My advice pass it. Not worth it. HSBC Discover is pretty useless and static with very low CL and AF.

[Anonymous]

This is a cobranded card like the BofA Amex. 

From what I have read the starting CL's on this card range from $400-$1200. Some have reported no CL and some have reported regular CLI's. I would think that the no AF cards like the one that you have coming will probably have a larger CL and be more likely for a CLI.

FWIW the first time I apped for Discover they offered me this card with a $19 AF. I declined and apped again 6 months later for the Discover Open Road card and it was approved with a $6K CL.

[Anonymous]

Hmmm.  I "accepted the offer online."  I called just now and they said they don't have any info, I'll have to wait till I get the card because they don't even know what bank will be issuing it.

Should I just not activate and call in and request the account be canceled?

I hate that I wasted an inquiry

[Anonymous]

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@Anonymous wrote:

Hmmm.  I "accepted the offer online."  I called just now and they said they don't have any info, I'll have to wait till I get the card because they don't even know what bank will be issuing it.

Should I just not activate and call in and request the account be canceled?

I hate that I wasted an inquiry

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No, it's going to report anyway, no sense in closing it. It doesn't have an annual fee. Just throw it away if you don't want it.

[Anonymous]

It could be worse. Discover has been known to pull two different bureaus and still not give you either card.

[Anonymous]

I had the card for almost 2 years and next to target was my worst card. My TU was 720 but they gave me a $300 CL. Everytime I called about a CLI they tell me basically they check my credit and will give a CLI when they feel I deserve it so I closed the account. The thing is I turned down the counter offer and they still sent me the card.

[Underh20]

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@Anonymous wrote:

I app'ed for the Discover More card.  I came back and said they couldn't approve the card I applied for but they had a counter offer.  The terms were 18% APR, no AF, 25 day grace, etc...

But it didn't say what kind of Discover card it was or what my limit was.  It just said I will receive it in 7 to 10 days.

Can anyone explain what I ended up with, or is that par of the Discover "surprise?"

Not sure why they didn't approve my app as-is.

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Don't worry.  Generally if they are going to steer you to the HSBC Discover card product they will tell you clearly.  Lately Discover has been giving counter-offers with a standard Discover card but with less favorable terms.

Even if you look on their Website you'll see that they now have different offers for the Discover More card that depend on your credit profile.    If you apply under the profile of, for example, excellent credit and they determine during the course of the approval process that you are really in, say, the good credit profile they will make you a counter-offer under the good credit terms.