Will I get approved for a Discover secured card?

[Anonymous]

Ok. So I have a rather unique situation I think. I am 20 years old and never had a credit card before until recently. My dad gave me authorized user on his mileage plus explorer card (chase-united) card with a 6000 dollar spend limit. And I finally got my transunion score of 706 it says I have bad credit and I have to improve it before I can get a card. My income is around 10k per year and I am not a student. I graduated from college with an associates in both business administration and accounting. I have 0 dollars in debt. And around 4000 in savings (I am a penny pincher.) I want a 200 dollar credit limit to start and to help me build my credit up. I can pay 250 in security for the 200 dollar limit since I know I can get it back as long as I pay everything on the card. Approval chances for the secured card? If not what card would you recommend? I don't want to apply for one unless I know I can get it since I understand it will ding you if you get denied. My goal is to get the same card as my dad just to be the full user on it. 

New to credit approval odds? 0 debt. 10k income 4k savings. 705 transunion. I want a 200 dollar limit. Willing to pay 250 in security for it.

[EAJuggalo]

You certainly should be approved for a discover secured.  Does your credit union offer a secured card?  Do you have a Bank of America branch near you?  I would take all three of those and be very careful.  Just as a reference point, I received a Discover it earlier this year with a score of 650, so whoever is telling you that a 706 is bad is full of it.  The only things really holding you back is your lack of credit use and your low income.

[LCC_mk14]

Have you tried any pre-qual sites for various lenders? You may be able to get something unsecured, even with your lower income. The pre-quals will not hurt your credit. 

[Anonymous]

I am with Chase bank (switching from US Bank currently finishing it up this week) and I have about 3000 in investments with stockpile not mentioned in my savings if that has any effect on it. Don't want to switch again. I switched for the sign on bonus. 

Oh and I didn't mention why I am asking.

I applied for a capital one secured master card and got denied before I talked to him. My dad said it was really stupid of me to apply for that and it would hurt my credit score. It only knocked it down 15 points but I hear it can be bad. That would be the reason I am worried about applying for discover secured since I already got denied for a capital one secured card. 

[EAJuggalo]

OP can't pre-qual, they are under 21.  If your account at US Bank is still open I would go in and ask a banker there about getting a secured card.  Give that 6 months and you should be able to get something from Chase.  Otherwise, once you turn 21 go into you Chase branch and ask them about prequalified offers, I'm fairly sure they'll have something for you.

[Anonymous]

Okay thank you. I don't want more dealings with US Bank. But when I turn 21 I will go and talk to chase. Sadly it doesn't leave me much time before I go on a big trip. Where I want to have the card if I need it. (Only about 2 weeks) and I figured if I applyed when I turned 21 the card might or might not come in within those two weeks.

[LCC_mk14]

You're completely right, I forgot about the age limit. 

I'm sorry I couldn't be more help, OP!

[Anonymous]

Thanks all. Will I guess talk to US Bank before I close the account completely.