discover

[future]

does anybody know what the difference is between a discover card and the hsbc discover.  i applied for the discover more card, they said i wasnt approved but i could geet get a hsbc discover. then it said it had to do futher processing, does that mean i might not get that as well, after they said i was able to

[Tuscani]

HSBC is the sub-prime version.

[Anonymous]

I have heard as far is FICO is concerned, that sub-prime and prime cards are weighted the same. All things being equal, isn't this true? Other then high credit limits that are available on prime cards, how could one be worth more than the other if utilization is the same?

I.e. user A has a 10,000 credit line and has a reported balance of $1,000
User A's utilization is 10%

User B has a 500 credit limit. and has a reported balance of $50
User B's utilzation is also 10%

Should they not be worth the same?

[Anonymous]

yes they count the same in CL and UTIL

[USC08]

if you get the subprime hsbc after getting declined for the discover more or whichever..what is the credit limit usually?

Message Edited by USC08 on 07-01-2008 02:58 PM

Message Edited by USC08 on 07-01-2008 02:59 PM

[Anonymous]

They are the same under FICO scoring if that is your only account but they are not the same under manual review and larger credit lines help your overall util to a larger degree. If you had 2 other accounts with 1k lines and one had 60% utility, an account with 9k in credit free really lowers your total overall util while the 500 dollar line wouldn't.

Still there is no need to discourage someone from getting a card that isn't the very top if they know what they are getting and that is what they want. Any credit is a great step for many on this board trying to rebuild their score.

[FretlessMayhem]

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@USC08 wrote:

if you get the subprime hsbc after getting declined for the discover more or whichever..what is the credit limit usually?

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Normally $300 for most people, but I have seen some other posts of members getting upwards of $2000 on it.

They are also stingy with CLIs, and do not accept customer requests for them.

[USC08]

Also can you reject the counter offer (the hsbc discover) and it won't show up on your account besided a hard inquiry???

Message Edited by USC08 on 07-01-2008 02:59 PM

[Anonymous]

You can always turn down credit and it won't go on your report, just make it very clear you don't want the counter-offer if you are talking to a customer service rep, just be very polite doing it. I have made this very clear with Macy's concerning their Visa.

[USC08]

ok i just applied for the discover motiva card and got denied and called the recon# and the csr said it was due to insufficient credit history (length of history)which is almost 2 years..anyway can i call again and get them to recon me??? what do i say?

Message Edited by USC08 on 07-01-2008 03:55 PM