Should I apply for this Discover it Card?

Anonymous · ‎05-25-2015

So I've recently secured two secured cards in the process of rebuilding my credit. Stumbled upon the Discover pre qualify site, and I input my information. I've been informed that I should probably get one more card, hopefully unsecured.

It came back with the Discover it Card with these specs.

Your Offer

No Annual Fee*
0% Intro Purchase APR* for 14 months and then 10.99%– 22.99% Standard Variable Purchase APR based on your credit worthiness.
0% Intro Balance Transfer APR* for 14 months from date of first transfer, for transfers under this offer that post to your account by August 10, 2015 and then 10.99% – 22.99%Standard Variable Purchase APR* based on your credit worthiness.
3% fee for each balance transferred .
* See rates, rewards, free FICO ® Credit Score terms and other info

Cash Rewards

5% Cashback Bonus in categories that change each quarter throughout the year like gas, restaurants and more up to the quarterly maximum. Signing up each time is free and easy.

See 5% Cashback Calendar
1% Cashback Bonus on all other purchases -with no limit on how much you can earn.

If I understand it correctly, I'm not exactly approved yet. Do you guys think it's worth the HP and a good potential card?

Anonymous · ‎05-25-2015

@Anonymous wrote:
So I've recently secured two secured cards in the process of rebuilding my credit. Stumbled upon the Discover pre qualify site, and I input my information. I've been informed that I should probably get one more card, hopefully unsecured.

It came back with the Discover it Card with these specs.

Your Offer
No Annual Fee*
0% Intro Purchase APR* for 14 months and then 10.99%– 22.99% Standard Variable Purchase APR based on your credit worthiness.
0% Intro Balance Transfer APR* for 14 months from date of first transfer, for transfers under this offer that post to your account by August 10, 2015 and then 10.99% – 22.99%Standard Variable Purchase APR* based on your credit worthiness.
3% fee for each balance transferred .
* See rates, rewards, free FICO ® Credit Score terms and other info
Cash Rewards
5% Cashback Bonus in categories that change each quarter throughout the year like gas, restaurants and more up to the quarterly maximum. Signing up each time is free and easy.

See 5% Cashback Calendar
1% Cashback Bonus on all other purchases -with no limit on how much you can earn.
If I understand it correctly, I'm not exactly approved yet. Do you guys think it's worth the HP and a good potential card?

Discover's preapproval site is worthless. In no way, shape or form is that a preapproval. You can enter any information and get the exact same results

If you provide us your credit scores and other credit info we could give you a better idea if you'll be approved.

Anonymous · ‎05-25-2015

What are your scores? Any baddies?

Anonymous · ‎05-25-2015

@Anonymous wrote:
@Anonymous wrote:
So I've recently secured two secured cards in the process of rebuilding my credit. Stumbled upon the Discover pre qualify site, and I input my information. I've been informed that I should probably get one more card, hopefully unsecured.

It came back with the Discover it Card with these specs.

Your Offer
No Annual Fee*
0% Intro Purchase APR* for 14 months and then 10.99%– 22.99% Standard Variable Purchase APR based on your credit worthiness.
0% Intro Balance Transfer APR* for 14 months from date of first transfer, for transfers under this offer that post to your account by August 10, 2015 and then 10.99% – 22.99%Standard Variable Purchase APR* based on your credit worthiness.
3% fee for each balance transferred .
* See rates, rewards, free FICO ® Credit Score terms and other info
Cash Rewards
5% Cashback Bonus in categories that change each quarter throughout the year like gas, restaurants and more up to the quarterly maximum. Signing up each time is free and easy.

See 5% Cashback Calendar
1% Cashback Bonus on all other purchases -with no limit on how much you can earn.
If I understand it correctly, I'm not exactly approved yet. Do you guys think it's worth the HP and a good potential card?
Discover's preapproval site is worthless. In no way, shape or form is that a preapproval. You can enter any information and get the exact same results

If you provide us your credit scores and other credit info we could give you a better idea if you'll be approved.

Oh, alright.

EQ - 549 TU - 597 EX - 560

3 Student loans in rehab, and one collection. My secured cards have yet to report to my credit report in any way.

DeeBee78 · ‎05-25-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
So I've recently secured two secured cards in the process of rebuilding my credit. Stumbled upon the Discover pre qualify site, and I input my information. I've been informed that I should probably get one more card, hopefully unsecured.

It came back with the Discover it Card with these specs.

Your Offer
No Annual Fee*
0% Intro Purchase APR* for 14 months and then 10.99%– 22.99% Standard Variable Purchase APR based on your credit worthiness.
0% Intro Balance Transfer APR* for 14 months from date of first transfer, for transfers under this offer that post to your account by August 10, 2015 and then 10.99% – 22.99%Standard Variable Purchase APR* based on your credit worthiness.
3% fee for each balance transferred .
* See rates, rewards, free FICO ® Credit Score terms and other info
Cash Rewards
5% Cashback Bonus in categories that change each quarter throughout the year like gas, restaurants and more up to the quarterly maximum. Signing up each time is free and easy.

See 5% Cashback Calendar
1% Cashback Bonus on all other purchases -with no limit on how much you can earn.
If I understand it correctly, I'm not exactly approved yet. Do you guys think it's worth the HP and a good potential card?
Discover's preapproval site is worthless. In no way, shape or form is that a preapproval. You can enter any information and get the exact same results

If you provide us your credit scores and other credit info we could give you a better idea if you'll be approved.
Oh, alright.

EQ - 549 TU - 597 EX - 560

3 Student loans in rehab, and one collection. My secured cards have yet to report to my credit report in any way.

With those scores, you're highly unlikely to be approved. I'd say you have a 1-2% chance of actually getting it.

CreditCuriosity · ‎05-25-2015

With those scores hold off at least 6 months.. Get them to the 680 area or higher then you might have a better chance.. You would be wasting an inquiry..

Anonymous · ‎05-25-2015

I had a eq of 647 and got approved last month, but I was not given the terms I applied for, I qualified for another offer on the card which I accepted. Wait a couple months. Good luck.

CreditCuriosity · ‎05-25-2015

@Anonymous wrote:
I had a eq of 647 and got approved last month, but I was not given the terms I applied for, I qualified for another offer on the card which I accepted. Wait a couple months. Good luck.

Yes people have been approved in the 630-640 range, but this isn't typical of Discover especialy with OP's profile.. A EQ of 549 wouldnt get a secured discover either. Just trying to give the OP solid advise from alot I mean alot of reading on this forum about discover among many other places.

Eq is most likely what they would pull

Anonymous · ‎05-25-2015

Yeah, thanks for all the advice guys. I guess I was a little naive thinking that the pre qualify site held any weight.

I'll wait until the other cards report and I get a little bump from them.

CreditCuriosity · ‎05-25-2015

@Anonymous wrote:
Yeah, thanks for all the advice guys. I guess I was a little naive thinking that the pre qualify site held any weight.

I'll wait until the other cards report and I get a little bump from them.

Very good call and I am glad you didn't jump on the Pre-Qual and asked here first! Best of luck on your build/rebuild, you will get these sooner than you know if you keep to your plan!