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Discover "Sufficiently Obligated" question

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Regular Contributor

Discover "Sufficiently Obligated" question

So, I've been on this kind of thing to see whether I was pre-approved anywhere.  If I'm not, no foul done with the places I'm checking as they don't do a hard pull.  

I don't expect to find any, but I'm curious and curious about what they say as reasons I'm not (if any as Citi didn't say anything except no pre-approvals).

So Discover tells me I'm "Sufficiently Obligated".  This isn't the same as if I were just denied.  

First I thought well my Plantium is at a high utilization until it reports last month, then I remembered my student loans.  They are in default and I'm in rehab on them.

I'm just curious exactly what this means.  I would thing they are assuming I financially have enough on my plate and that is the way they feel, I can understand that.

But I would like to know which one is causing it.

FYI they pulled an Equifax with a 570 score.

Experian 585 (5/4/18), Equifax 584 (5/5/18), Transunion 575 (5/8/18).

Currently rebuilding with a Capital One Plantinum Secured since July, 2017 and Quicksilver One since March, 2018, and Credit One since March, 2018.
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Valued Contributor

Re: Discover "Sufficiently Obligated" question

My take is they feel you have too much debt extended.

You will be hard pressed to find any kind of Prequalified offer with scores in the high 500’s.

Only two routes if you need credit now in order to rebuild.
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Regular Contributor

Re: Discover "Sufficiently Obligated" question

My QS One and the Credit One were Pre-quals but I understand the meaning with those cards.

It was more of just a curiosity and since they do soft pulls for the prequal I figured it was worth just seeing what they say.  

What I didn't expect was it to direct me on and since discover is on my eventual list I went ahead and followed through.  This is what it told me.  I was honeslty surprised because of the reason, because bluntly that's fixable. lol

 

I am betting I probably need to wait until my student loans are rehabbed for them, but I may try again in before that.  Just see how the credit looks.

Thanks for you input. Smiley Happy That was pretty much what I thought, but wanted confirmantion.

Experian 585 (5/4/18), Equifax 584 (5/5/18), Transunion 575 (5/8/18).

Currently rebuilding with a Capital One Plantinum Secured since July, 2017 and Quicksilver One since March, 2018, and Credit One since March, 2018.
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