HSBC Discover. AF, APR, CL, etc.?

[Anonymous]

hello all.

I'm tyring to help my friend rebuild credit. I'd like to know how easy it is to get approved for the HSBC discover and what the terms looked like so:


for those approved for the HSBC Discover:

Do you have an annual fee?
What was your apr?
What was your credit line?
What report did they pull?
What were your scores at the time?


Thanks for your help.

BTW: Friend has FICO's of between 620 and 630. Has one CC (cap one no annual fee), several lates, cap one charge off that was paid, and student loan missed payments (not default). Also has positive payment history for over a year (student loans, CC, car note).

Message Edited by dizzier on 04-21-2008 08:29 AM

[ShinyGirl]

I don't think, just from reading here, that your friend is quite ready for a Discover, whether cobranded or not.
The main Discover is quite a stickler for any bads on the CR....and even the cobranded ones are not just thrown out there.

Have your friend work on getting a lower tiered card, remove some bad stuff from the reports, then apply for Discover.

[Anonymous]

my friend currently has a cap one card. as for the baddies. my friend is trying but is having little luck. most of the baddies are related to missed student loan payments.

[ShinyGirl]

If he's defaulted on school loans and they're federal....he's better off REHABing them first.

Call the DOE/originating Fed Lender and ask about the rehab program. That way, at the end of the rehab period, all the bad listings can be removed and the loan(s) will be resold to another lender and he can start over. It will help the credit score and picture tremendously.

I did it last year. Depending on the amount of the loans though, a down payment is required (my down payment for the rehab prgm was almost 10K), and then automatic draft for the rehab period.

[Anonymous]

my friend has already consolidated and has been making on-time payments for over a year. is rehabing even still an option?

[Anonymous]

now that i am looking at the requirements for default, my friend did not default. just missed 3 months of payments before getting on track so rehabing does not apply. I'll fix my previous post.

[Anonymous]

I was approved for the HSBC Disc back in 10/07 with EQ at about 610 (FICO).

There is no AF.

APR is pretty high at 18.99%

CL $2500

They pulled EQ

This was the first credit card that I applied in 2 years and the first card to give me high CL after my debt counseling ended also 2 years ago.

Edited to include this:

Last month I was approved for the real Discover Open Road with CL: $4300.

They pulled EX which I had a FICO of 654. No AF. 0%APR for 12 months.

Message Edited by Solarjuju on 04-21-2008 09:41 AM

[Anonymous]

anyone else? i know there has to be more than one person with an HSBC direct rewards card.

[Anonymous]

---

dizzier wrote:
anyone else? i know there has to be more than one person with an HSBC direct rewards card.

---

I rec'd the card in Aug 06 w/ a 1k limit, 15.24 APR and no AF.  (Odd since I thought I had an AF on this card, but I guess I don't.)  I was late and my APR went up to 17.99.  I have never rec'd an increase on the CL.  My scores around the time I rec'd this card were mid-high 500s.

[Anonymous]

I could have sworn I read a while back that they aren't taking any more applications for this card.

He might be eligible for a WalMart or Sams Discover.