Is Discover entering the sub-prime world?

unknown_entity · ‎03-28-2008

This site would lead one to believe that a Discover card can be had by most anyone. This was posted on a thread before so here is the link...(you can change the name of the card in the address and get different Discover cards to view.) Notice the credit levels like Cap One has. I looked at all the tabs and the rates and fees increase with the "lower tier" cards.

http://www.discovercard.com/motiva/rates.html

07/26/2007 TU-688
EQ-656
EX-649

unknown_entity · ‎03-28-2008

If anyone tries the "needs improvement" or "I don't know" catagory and gets approved, please let us know. The "I don't know" catagory seems to have lower fees and the button says "apply at these rates".

Message Edited by unknown_entity on 03-28-2008 08:08 PM

07/26/2007 TU-688
EQ-656
EX-649

haulingthescoreup · ‎03-28-2008

This site got kicked around several months ago; thanks for bringing it back!

I'm really skeptical that you could get a true Discover card with these lower scores. But Discover does have a business relationship with HSBC, and if you apply for a Discover and are declined, you will be offered the HSBC ("Direct Rewards") Discover card instead.

If the presence of the "needs improvement" category is a way of sucking in consumers who will then be shunted to the back-up card, then I'm pretty disappointed in Discover!

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

unknown_entity · ‎03-28-2008

Yeah, now that you say that, I can see what they do...they turn you into HSBC bait.

07/26/2007 TU-688
EQ-656
EX-649

fused · ‎03-28-2008

Ah yes! The old bait-and-fry!

FICOfit · ‎03-28-2008

I got a true Discover More card with my scores (in siggy below). Not a huge CL, but a true Discover, nonetheless. I have discussed this in the "Discover" thread.

05/19/08 TU: 703 EQ:717 EX:710

05/08 TU:660 EQ:710 EX:621
04/08 TU:654 EQ:671 EX:618
3/08 TU:608 EQ:624 EX:623
11/07 TU:564 EQ:555 EX: 560
Goal: 700 club by Dec 2008. Can it be done? Heck yeah!! It's done, let's keep it that way!

fused · ‎03-28-2008

argonne wrote:

I got a true Discover More card with my scores (in siggy below). Not a huge CL, but a true Discover, nonetheless. I have discussed this in the "Discover" thread.

Having a true Discover card helps complete any CC portfolio.

unknown_entity · ‎03-28-2008

I might get approved with my present scores but I think I'm gonna wait for a bit.

07/26/2007 TU-688
EQ-656
EX-649

haulingthescoreup · ‎03-28-2008

I really, really like holding off until I KNOW that they want me. That way, if something goes wrong, I can tell myself, "Well, those idiots!"

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎03-29-2008

Maybe Discover is actually LOOKING at what's in the cr, you think?

I applied for a Discover in July 2007, with higher scores than I have now. Only back then I had 3 med collections and a charge off. And I was declined then. After cleaning up the cr's by getting the 3 ca's and the c/o deleted, the cr looked a lot better & I applied early this month and was approved as well.

Just an observation. Funny thing is that last July they pulled EXP...this time they pulled TU.