Question about Discover

[enharu]

Hi,

I am very confused about Discover. Tried searching but can't find any useful recent info, since most of it were about Discover More and I am not sure if they have the same or different undewriting requirements.

Is Discover inquiry sensitive?
Is their recon process relatively easy (like Chase), or is it inflexible? 

They pull EQ right? I am in socal.

I just had an autoloan account that was opened feb 2013. Should I wait for a few more months before taking the plunge, or do it before my CSP gets reported to the CRAs? My EX FICO is 768. I have the monitoring service through Equifax as well, and my FAKO on it is 766, so I am not too worried about scores. I got declined by AMEX because of the new auto loan account that just got opened a month ago, and I don't want to apply for Discover to get turned down for the same reason.

What are your recommendations?

Thanks!

[09Lexie]

Hmm, I am in So Cal too and they pulled TU for me. They didn't seem to worry about my 9 inq's ( damn those GE cards) and my score was only 707. My AAOA was over 7 years, I had opened 6 cards in the last 4 mos prior to my approval.

[enharu]

the GE cards were all inquiries on TU as well? 

some people told me they pull EQ.

But regardless of EQ / TU, they do not pull EX right? I just got 10 inquiries on my EX and I really dont want to add any to it, and plus I definitely am going to get rejected if they pull EX lol....

Should I do ahead and apply now? I have 1 new account reporting last month. Or should I wait for that auto loan account to be >3 months?

The statement just cut today so hopefully the new auto loan balance gets updated as well. I paid roughly 95% of my whole loan balance in 1 payment today Planning to drag the remaining 5% for a few more months to a year for it to report more in the meantime. So my current debt to balance ratio should be really good.

[HiLine]

You'd be hard pressed to find a prime credit card issuer that approves applications more easily.

I wouldn't expect a big credit limit though.

[enharu]

so it's pretty easy to get discover?

should i wait for a few more months before I apply to get a higher CL then? Or they just rarely start anyone out with a high CL but gives CLI over time as the account ages?

[09Lexie]

Yeah, all my GE from last year were on TU. when I applied, I thought they'd pull EQ, I was wrong. I know they can pull either just my luck they went for my GE laced report. If you wait, your auto loan balance will update. I wish I could give you a more definitive answer.

[enharu]

they wouldn't pull EX at all though right? Or it's kinda a YMMV thing or it depends on location?

[HiLine]

All Discover cards have the same underwriting standards, so any info you find about the More is applicable to the It. In fact you can even apply for the More with a signup bonus then convert to the It later.

[09Lexie]

You shouldn't have a problem with Discover. They are all over the map with CLs so YMMV. They only gave me $2500 but it could have been the inq's and all that new credit. It is my lowest CL but I don't mind because I like the 18 mo term, CS is great and its a great looking card.

[enharu]

do you know if their recon department is kinda on the flexible side like Chase? Or is it like Amex / Citibank?
I have a good hunch that I am going to have to call recon to get myself approved lol.