Discover IT approval probability

iyoulow · ‎09-06-2013

Hello All,

I'm currently in the process of rebuilding my credit. I have recently had tons of collections removed and had a foreclosed mortgage drop from my EX CR. I have a long history with 30+ accounts (most closed). Lots of negatives but all old , 2 CAs, CH 13 BK (all drop next year).

My question is how likely am I to get approved for the Discover IT card? If I get denied, how much will it hurt my score? I have no HPs and low utilization but only have a $300 Cap One in my name. I am an AU on 3 other cards. My current Utilization is 11%.

Thanks in advance

Credit Sesame (EX) - 7/2013 - 639, 9/2013 - 658, 10/2013 - 676, current - 670
Credit Karma (TU) - 7/2013 - 580, 8/2013 - 591, 9/2013 - 607, current - 635
USAA Experian Credit Check - 8/2013 - (EX) 609, (EQ) 634, (TU) 601
9/2013 - (EX) 639, (EQ) 649, (TU) 605 - 3/2014 - (EX) 652, (EQ) 641, (TU) 631

bobbay · ‎09-06-2013

I just posted my success on an app spree. I dont have bk but similar scores, tad higher, similar number of old closed accounts, slow pays in 2010 and 2011 and if it were me... I would wait till true scores were in the 650+ range. I chose to get a variety of cards to show wider amount of access to credit and responsible management of it. I went for ones with soft pulls and easy qualification criteria. I had a couple of declines that I thought I had a shot for that lead me to my conclusion. At 600 ish I think they will really look at history of accounts but who knows.

Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 03/12/17

JamesKnox · ‎09-06-2013

What cards did you apply for that did only SP's?

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

bobbay · ‎09-06-2013

shopping cart ... Comenity cards

JCrew

Express

but there are several others.

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?filter=labels&q=shopping+cart

Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 03/12/17

JamesKnox · ‎09-06-2013

So I can apply for Express or JCrew card and they won't do HP?

If I currently have Fraud Alert on my reports will I get automatically denied?

How fast do they report to the agencies?

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

bobbay · ‎09-06-2013

JamesKnox,

not sure as I have no experience with fraud on credit report. Express and J.Crew were opened same day about 1week ago and have not shown on credit report yet. Oct 4th is the first statement cut for Express. I don't see when the first statement cut will be for J.Crew. So far I am liking J.Crew better. I think each company has their own guidelines that Comenity implements that creates some confusion about inconsistencies between companies. JCrew gave me $300 CLI after 1st order and setting up bank linking for payment with the payment drafting on next friday. Express gave me the 7-10 day message on CLI and when i called they said account was too new and no payment history yet.

hope this helps but with no pull if you get declined there is no issue from my perspective. It seems that the jewlery stores give big increases and would be a great builder. With fraud alert you may want to pick a place that you can authenticate by going to the store locally and verify your ID at purchase but app online.

Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 03/12/17

bobbay · ‎09-06-2013

JamesKnox,

After reading another posters comments with fraud on the credit reports apps have to be in person to verify id. with that in mind I would look at the list of shopping cart companies and try one in store app. Not sure if it will be a soft or hard pull in that situation.

Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Last app 03/12/17

JamesKnox · ‎09-06-2013

So how does the shopping cart trick work?

I put something in my shopping cart on JCrew....should I be expecting them to offer me to apply because it's only giving me the option to pay with my card or paypal?

Also, do you know if Fingerhut does HP?

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

Mryucky · ‎09-06-2013

Fingerhut HP'd my Equifax...

Cap1 Secure card $300, BofA Secure card $300, CU Secure Loan, all July 2013

Starting Score: 7/7/2013 EQ.com - EQ 639 TU 576 EX 566
Current Score: 8/7/2013 EQ.com EQ 605, CK TU 637, CS EX 627
Goal Score: 720

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guiness56 · ‎09-06-2013

@bobbay wrote:
JamesKnox,
After reading another posters comments with fraud on the credit reports apps have to be in person to verify id. with that in mind I would look at the list of shopping cart companies and try one in store app. Not sure if it will be a soft or hard pull in that situation.

Never had an issue applying for credit with a fraud alert only a freeze.

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