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Pre-approved for a Discover it. First CC.

Remedios
Moderator

Re: Pre-approved for a Discover it. First CC.


@FinStar wrote:

@Champion54 wrote:

Equifax seem not to have picked my other accounts, only my Self Lender.


Can you elaborate what other accounts you currently have?  Are they student loans or...?


Oh. Right...

 

 

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Message 11 of 17
addicted_to_credit
Established Contributor

Re: Pre-approved for a Discover it. First CC.

I thought Discover pulled Experian 99.9% of the time....












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Message 12 of 17
Champion54
Established Member

Re: Pre-approved for a Discover it. First CC.

We have multiple CC wish I am authorized user. That is why I have a great score. But at same time, I immigrated a couple years ago and while Expediand and Transunion found me in their system, Equifax did not. They sented me a letter saying I needed to establish credit. So I did the pre-approved process at discover. They refused me. After a while I applyed to self Lender.

Only Self lender I started less than 6 months ago reported to Equifax. So for Equifax, I have nothing but 1 account with self lander, and it's a very young account. I think Self Lender helped me to appear in Equifax, because they report at all 3 bureau, and I was able to get pre-approved to Discover-it.

Message 13 of 17
Remedios
Moderator

Re: Pre-approved for a Discover it. First CC.

@Champion54  it takes six months for Fico score to be generated. 

If AU accounts aren't on EQ, and self lender is under six months old, where did you get the score from? 

 

Just to briefly address AU accounts..most lenders will "strip" them during application process, since they want to evaluate your profile, not someone else's. While those scores are great, they aren't really yours. 

 

 

Since you have very short credit history, there isn't a way to properly evaluate how you will handle payments, hence high APR reflecting high risk. 

 

You're getting pre-approval because of AU accounts. They are taken into consideration because there hasn't been a HP, so they haven't been excluded yet.

 

You can give it a try, and if approved...yay!

If not, start looking at secured cards to build your own credit. 

Message 14 of 17
Champion54
Established Member

Re: Pre-approved for a Discover it. First CC.

My numbers come from 

Fico => Bank account

Trans union and Equifax, from Credit karma.

 

Message 15 of 17
Champion54
Established Member

Re: Pre-approved for a Discover it. First CC.

Can you explain AU and Hp?

 

Thanks

Message 16 of 17
Slabenstein
Valued Contributor

Re: Pre-approved for a Discover it. First CC.


@Champion54 wrote:

My numbers come from 

Fico => Bank account

Trans union and Equifax, from Credit karma.


What bureau is the FICO score that comes with your account?  The TU and EQ from Credit Karma are Vantage scores, not FICO.  Vantage isn't really used in lending decisions.

 


@Champion54 wrote:

Can you explain AU and Hp?

 

Thanks


AU = Authorized User

HP = Hard Pull, an inquiry on your credit report from when a lender checks it due to your request for new credit.  HPs are visible to anyone who checks your report for the next two years and have a scoring impact for the next year.  They're contrasted with soft pulls (SP) which are only visible to you and do not affect your scores.


Message 17 of 17
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