Should I app for discover or stop? Mail Preapproval..

[john398]

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@vizon wrote:

DECLINED!!!!! 

Kind of good, kind of bad. 

She said it was because I have limtied credit history. I guess 3 years isn't enough. Also, because of the new auto loan shows 11 inquries counting against me (is what she said).

 (I called recon and they said the only way was with a co applicant...... kind of ridiculous with a credit history like mine I think.)

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they should count the auto as 1, I would call back tomorrow and try to recon again

[injustifiiable]

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@vizon wrote:

DECLINED!!!!! 

Kind of good, kind of bad. 

She said it was because I have limtied credit history. I guess 3 years isn't enough. Also, because of the new auto loan shows 11 inquries counting against me (is what she said).

 (I called recon and they said the only way was with a co applicant...... kind of ridiculous with a credit history like mine I think.)

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That bites. Especially with the so-called "preapproval"...watch them send more crap to your house in the coming weeks.

That said, I'd try again with a different rep tomorrow. lol

[vizon]

To be honest, she was super nice but didn't even BUDGE at her decision. It was almost like the number I called (from backdoor) she didn't have the authority. Maybe I will fight tomorrow.

[mikka1]

She said it was because I have limtied credit history. I guess 3 years isn't enough. Ooops... Seems you killed my dreams about Discover with my less-than-a-year credit history, or at least postponed them for quite some time. I thought Discover is not that sensitive to the length of credit history as long as they have certain offers for students who can have limited or no history too...

[LS2982]

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@vizon wrote:

I have these accounts

BoA CC - $0/$500 3 yrs

JCPENNEY - $0/$1000 2.7 years

Chase Freedom - $99/$1000 3 months (I pay this off, forgot to in time!)

Citi Platnum $1400/$4800 1 month

Auto Loan $20k - 1 month

So my score went from like the 710-730 to now being 671. I think because it now looks like I am looking for credit with all the new accounts.

I have had two discover preapprovals in the past 2 weeks and I have been tempted to app for  it to bring down my util. Does it sound like a bad idea? Was hoping for one more card with a decent limit. Thoughts?

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I would suggest gardening for at least 6 months from now before you go for Discover.

[LS2982]

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@mikka1 wrote:
She said it was because I have limtied credit history. I guess 3 years isn't enough. Ooops... Seems you killed my dreams about Discover with my less-than-a-year credit history, or at least postponed them for quite some time. I thought Discover is not that sensitive to the length of credit history as long as they have certain offers for students who can have limited or no history too...

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That is totally YMMV. With an AAoA of 1 year I got in with Discover with a 671 EQ FICO.

[Anonymous]

To be honest, Discover is conservative as heck.

Even if you would have gotten approved, I highly doubt your CL would have been anything north of 5,000.

And that's being overly generous. I think you should just give it some time and let your current relationships grow with time. They can be rather... "stingy"... about CL's some times. I apped for them with a 760 EX and they gave me just 6K when I already had an established 15.9K with BoA and I hear that getting an increase is a "fun" process. Still, can't deny they have excellent customer service so far.

[rootpooty]

Seems like after reading this thread that bofa is stingy. 2 members in here been with bofa for several years and yet still have limits under 1000? Nice! Anyways sorry about your denial. Maybe the csr seen your new accounts with so many inquiries and figured your just too new to credit. Try another recon. Good luck

[vizon]

Called again today, she said a manager will call me back within 24 hrs. We shall see.

They've done 2 softs on equifax and NOTHIGN HAS CHANGED SINCE!