Discover IT Approval Chances...

GaTech · ‎10-09-2013

Hey yall! I'm just wondering what chances are for getting approved for Discover's IT Card or the student version are with my profile:
 
Oldest account: 2 years (Wells Fargo Cashback Card)
AAoA: 1.8 years
No baddies or late payments
Total Credit Available: $19,500
Current Balance on AMEX BCE: $2,000 (taking advantage of 0% APR until Jan).
Income: roughly $20,000'
Status: Student
 
Credit Scores are in signature.
 

As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000

Iorek · ‎10-09-2013

I would say you have a decent shot. When did you open the Amex?

As a side note, it's $19.5K or $19,500. Not both. $19,500K means $19,500,000

Amex BCE ($15k), TE ($5k), BoA BBR ($600), Cash Rewards ($600), Barclays Sallie Mae ($6k), CapOne Quicksilver ($4k), Chase Freedom ($5.8k), CSP ($11k), Marriott (9k), IHG (12k), DCU ($6k), Discover IT ($6.5k)
TU - 4 INQ, EX - 7 INQ, EQ - 3 INQ
Gardening since 06/25/14.

enharu · ‎10-09-2013

I think your odds are good for both versions.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

09Lexie · ‎10-09-2013

I would go with the reg version better terms.

Good luck.

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Mrm-na · ‎10-09-2013

I think you have a good chance for the full version.

From the many anecdotes I've read on this card, it seems that Discover has been a bit less strict and in a more competitive phase ever since they launched the It. They're promoting it heavily and are in a fight with the Chase Freedom.

Unfortunately I think it's typical for them to pull EQ, and that happens to be your lowest of the 3 scores. Still, I've read many accounts of people getting approved with scores in the 600s, though that might not be typical. They don't seem to mind thin files as long as there's nothing real negative in them. You might need to explain the BCE balance to them, but even that might not be an issue since it's a low percentage of the limit.

If you get the "5-7 day" message then don't worry, it doesn't mean you won't get approved, as I and many people can attest. But if that happens it would be a good idea to call them up so you can explain the BCE balance, in case it's bothering them. I think you'd be approved, but they're usually conservative with limits.

Jbb2788 · ‎10-09-2013

I would go for it. I was approved just last week and I didn't think I had a shot.

**10/31/13
EX-650
EQ-660
TU-660
GOAL: 750 ACROSS THE BOARD
Last App: 10/13
Gardening Until: 4/14 (At least)

sisyphus_project · ‎10-09-2013

Discover fairly recently approved me; my EQ was in the high 600s. The limit was a bit skimpy (1k), but it's a handy card to have nonetheless.

Boragard · ‎10-10-2013

If I got approved I know you should, I had a 638 Fico Equifax.