Discover rejected even with good score

[Anonymous]

My CS on average is 721, i applied Discover online and they rejected it

i have no idea hw much do we need to have. i have good debt-credit ratio. my salary is good....wht do they need more?

do you guys think American Express Blue may be good idea.

As my card is rejected how long should i wait before applying new card (with out taking a hit on credit score) 

Thank you guys

Rudra 

[Jazzzy]

Hello...and welcome to the forums.

I was originally declined by Discover when I applied online. What I did was wait until I got their letter telling me why I was denied. Then I called them and was ultimately approved. You may want to try contacting them and asking for their credit department after you get your letter. This department was only open from Monday through Friday during regular business hours.

Also, are you certain that your "credit scores" are FICO scores? Many, many different credit scores are sold out there, and most of them aren't FICO scores. They can vary widely. Discover is likely using your actual FICO score as part of their decision making process. Make sure you are looking at true FICO scores and not Vantage scores, Plus scores, TransRisk scores, etc. (They are called FAKO scores here because they don't tell you much.)

You ask about applying for the AmEx Blue. I wouldn't do that immediately. I would wait to see what Discover says about the denial, and I would make sure I'm looking at my true FICO scores. When you apply for credit, an inquiry is posted on your credit report. You don't want to waste inquiries without knowing that you have a pretty good chance of acceptance.

[Anonymous]

Rudra, welcome to forum. Please provide more detail on your CR history. Discover tends to be very picky.

[Anonymous]

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@Anonymous wrote:

My CS on average is 721, i applied Discover online and they rejected it

i have no idea hw much do we need to have. i have good debt-credit ratio. my salary is good....wht do they need more?

do you guys think American Express Blue may be good idea.

As my card is rejected how long should i wait before applying new card (with out taking a hit on credit score) 

Thank you guys

Rudra 

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Insufficient info. Discover is picky, but not that picky. I doubt that's a FICO score and you need to review the details of your CBR's.

[Anonymous]

thank you guys

I just pulled my experian report......it is 728....

i called them up, they told that i am deliquent on one account 6 months back....BUT my credit report says nothing....i know i missed a payment but i guess i covered it up  so it dint show up.

Anyways i asked serv rep about how much they need for credit score. she told that discover is no more consdering just the credit score but also the length of history and many more (i have 4 yrs -length)  coz last year many ppl with good score had foreclosures and also they are among the highly conservative credit cards.

For me its still wierd coz, when you have CS it takes into account all of it (length of history, deliquency, debt-credit ratio etc) , so its more easy if they set a level for credit score like 790+ something tht sort

thanks for you suggestion. I wont  be applying for Blue soon....I would wait for some more months

Rudra 

[Jazzzy]

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@Anonymous wrote:

thank you guys

I just pulled my experian report......it is 728....

i called them up, they told that i am deliquent on one account 6 months back....BUT my credit report says nothing....i know i missed a payment but i guess i covered it up  so it dint show up.

Anyways i asked serv rep about how much they need for credit score. she told that discover is no more consdering just the credit score but also the length of history and many more (i have 4 yrs -length)  coz last year many ppl with good score had foreclosures and also they are among the highly conservative credit cards.

For me its still wierd coz, when you have CS it takes into account all of it (length of history, deliquency, debt-credit ratio etc) , so its more easy if they set a level for credit score like 790+ something tht sort

thanks for you suggestion. I wont  be applying for Blue soon....I would wait for some more months

Rudra 

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Hi again Rudra. If you pulled an Experian score, this is not your FICO score.

I agree it would sometimes be nice to know that a credit decison can be based on one specific number...but that's not reality. So many different aspects enter into a credit decison.

[Red1Blue]

You might want to wait 3 months and they apply for Discover Motiva, which seems to be more easier to get approved than other Discover cards. A month ago few us on this forum applied and got it approved.

[Achase]

Discover, Amex and Citi just to name a few all have the same requirement and it is no derogs in the past 24 months. any late payments, collections or

charge offs in the last 24 months that report to your credit file and you will be rejected. credit scores alone are not enough to get in these days.

Message Edited by Achase on 01-16-2010 12:37 PM

[Anonymous]

Just read your post and went and applied for the Discover card and i was approved, though the credit limit is a little small, just $1,000. My credit scores are Eqx 692 and TU 689.

[Anonymous]

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@LynetteM wrote:

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@Anonymous wrote:

thank you guys

I just pulled my experian report......it is 728....

i called them up, they told that i am deliquent on one account 6 months back....BUT my credit report says nothing....i know i missed a payment but i guess i covered it up  so it dint show up.

Anyways i asked serv rep about how much they need for credit score. she told that discover is no more consdering just the credit score but also the length of history and many more (i have 4 yrs -length)  coz last year many ppl with good score had foreclosures and also they are among the highly conservative credit cards.

For me its still wierd coz, when you have CS it takes into account all of it (length of history, deliquency, debt-credit ratio etc) , so its more easy if they set a level for credit score like 790+ something tht sort

thanks for you suggestion. I wont  be applying for Blue soon....I would wait for some more months

Rudra 

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Hi again Rudra. If you pulled an Experian score, this is not your FICO score.

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+1.

I don't know what score this is, but it is not FICO. Your FICO score is very likely much lower.