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So I've been really wanting to get this card for a while. Discover kept denying me over and over. I stepped out of the garden two days ago to app for this one card.
What a surprise... Instant DENIAL.
Reasons were the typical Discover ones .. High loan balances ( I have student loans that are deferred!!!!) .. Not enough established history...
So I called the next day and requested to talk to a manager (called the recon number). I was told all the manager were in a meeting and someone would call me back within 24 hours. Two hours later, I got a call from a manager.
She explained the reasons to me once again! She basically wanted to see more current history .. so I kept explaining to her that I have a perfect two year loan that's been paid off completely just last month ... the key thing was when she asked me if I'm still a student .. I said YES (she asked me where) .. she put me on hold and came back with an approval.
The limit is so low ( $500) .. but she said the card will grow with me .. they will do automatic CLI ...
Back to garden now ..
Just wanted to share my story with you
congratz!!!! i want this card too... what was your score and how many inquiries do you have??
Thanks ...
I think my score is in the mid 600's range .. Not sure what's the score exactly. I've been getting different scores from different creditors.. !
@kobe2012 wrote:congratz!!!! i want this card too... what was your score and how many inquiries do you have??
oh ok... any baddies? inquiries???... sorry, so many questions...
Yaaay and congrats! I have high student loan balances that are also deferred as well since I'm still in school and not enough established credit history but they didn't give me an instant denial either. I just called in and was approved. It's weird how they're picky when it's a student card and you have student loans.
When I applied in May, I was denied for the same reasons I mentioned above. But when I called they looked closely at my report. There was a major delinquency.. 3 90 days .. 3 60 days .. 3 30 days .. late! Those were all removed by the creditor when I closed the loan with them as an action of good will!
Other than that .. no baddies
@kobe2012 wrote:oh ok... any baddies? inquiries???... sorry, so many questions...
They said the loans will not be deferred when I graduate!!
How much did they approve you for?
@Anonymous wrote:Yaaay and congrats! I have high student loan balances that are also deferred as well since I'm still in school and not enough established credit history but they didn't give me an instant denial either. I just called in and was approved. It's weird how they're picky when it's a student card and you have student loans.
Nice approval, Congrats!!
Weird thing is though that once I heard from a CSR that the minimum credit limit with Discover was $1000.
I was approved for $1000.
After you graduate from school, if you don't plan on going to grad school, you have a 6 month grace period before you have to pay back the loans. If you enter into a situation such as unemployment, go to grad school, can't find a full-time job, enter into a rehab program for a disability, or economic hardship you will be able to defer your student loans. The big thing is to get a hold of the loan lender.