@Anonymous wrote:
Hey guys,
My current tu score is 681 and my ex is 671. As the title of my subject states, I'm really eager to apply for a Discover card, but to be honest I'm quite terrified and think I should maybe wait a bit longer to do so.
A lil about my background, I have a Captiol one card, $300 limit, 8% credit utilization (the same usage since I have had it for the past 4 months). I have a 9 month installment loan from my bank that I have been paying since March. Lastly, I have a 73month car loan that I have been paying off for the last 3 years. 3 open accounts.
Now for the baddies... Skip the long story, I have an 3 year term car loan (open 2010) that I settled for (late payments/paid/settled 2 1/2 years ago). 2 school loans (late/paid in full to creditor).
You guys can be brutally honest and critical of me, it will be greatly appreciated. Should I wait and let more time heal my negative information or is my current credit profile rehabilitated enough to go ahead and apply?
First of all, welcome to the forum! 
Also, congratulations on the progress you've been able to make - sometimes that first step is the hardest, and you made it. Now you just have to ride that momentum, and with a little time and patience you'll get what your going after - in this case, a Discover card!
Here's what I think... you're on the right track, but to apply right now would likely be a 'coin toss' as to if you would be approved... the closer to at least 700 you can get the better off you'll be. In my own case, I was approved with a 708 (or close to that - I was barely less than 710 I'm certain) and I had two six year old charge-offs (one paid for less than the balance). In my favor I had a semi-lengthy history with my oldest two accounts being 10+ years, and at that time my AAoA was 5+ years.
If you check the credit pulls database (check google for link) you'll get an idea of the scores people have been approved at, and you can also do a search on the approval forum here (search on 'Discover') since many people will post their 'stats' when they are approved. This will give you a better idea of what to expect.
If it were me, I would probably hold off just a little longer to see if your score might inch up just a bit more. Don't get discouraged, though, it sounds like you've made fantastic progress, and you'll have your Discover card in your hand before you know it!