Discover IT Approval Chances

gardoave · ‎04-20-2014

In 2007 I had a Discover credit card that went into collections and settled for less than the full amount. At the time of collections, I owed about 3K and settled for about 1K. It is currently reporting as Legally paid in full for less than the full balance and will finally fall off in June 2014. I want to apply for the Discover IT card after the paid collection falls off and my question is will my previous history with Discover prevent me from being approved.

Starting score: (11/24/13) TU: 517 Eq: 533 Exp: 520
(12/25/13) TU: 595 Eq: 592, Exp: 595
(02/20/14) TU: 637 Eq: 623 Exp:610
(04/09/14) Eq: 639

kchengg1 · ‎04-20-2014

Might end up in denial after being approved (if discover keeps internal records), there after you can call for a recon and explain your situation, and I'm sure they'll approve you afterwards.

Josh2942 · ‎04-20-2014

It depends. Even though its paid you may be blacklisted.

Jaguar F-Type R Loan 50K Balance
Goldman Sachs Signature Loan $29,000 TU 750 score pulled at time of loan.
Student Loan Debt $1,500
Credit Card Debt $300 1>% of $166,700
FAKO Transunion 723 Equifax 744
What's in my wallet? Chase Sapphire Reserve, Chase Freedom Unlimited, and AMEX Blue for Business

zeedakay · ‎04-20-2014

Or apply for a regular discover then product change later on

_______________________________________________________________________________________
Current Scores: EQ FICO 685 (03/25/2014), EX N/A, TU FICO 697 (04/14/2014)
Silver Spade Garden Club Member - Last App: 12/2013 - No apps until 2015
Starting Score: 535
Current Score: 697
Goal Score: 750

grinlikechelsea · ‎04-20-2014

Once it falls off, I'm sure you would get approved. I have seen threads of people who burn Discover in a BK and they get approved later on. Remember to call the recon line if it is not instant.

Edit: What does the rest of your profile look like?

gardoave · ‎04-20-2014

The other bad accounts on my credit report are some student loans that are under administrative wage garnishment by TG but will be going into to the 9 mo. rehab starting in May.

I have 3 unsecured cards with at total CL of $3500

US Bank Secured CL $800

AU on AmEx CL 1K

10+ inquiries

Sallie Mae student loans

2 Auto Loans

All of these accounts are in good standing and I keep my Utl under 10%

Starting score: (11/24/13) TU: 517 Eq: 533 Exp: 520
(12/25/13) TU: 595 Eq: 592, Exp: 595
(02/20/14) TU: 637 Eq: 623 Exp:610
(04/09/14) Eq: 639

Shogun · ‎04-20-2014

I had a Discover Card go bad. 2 years after paying it off, reapplied and got the DiscoverIT for $5500, It's now at $10K.

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.