Discover it feedback

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
4 posts
graath
 
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Discover it feedback

Postby graath » Wed Feb 11, 2015 4:01 pm

Just wondering if you all could give me some feedback on a potential CC ap for the "It" card.

I own one cc, the Barclays USAirways card. Owned it for almost a decade. Have an 8400 limit and owe about $4000 on the card. Also have an AMEX gold charge card.

I am an authorized user on my wife's AMEX Blue Cash card and Chase Freedom with a combined credit line of $9500. Does this count towards my score or credit line?

My current FICO, according to Barclays' site, is 693.

A year ago this time I got into some problems with my car loan when I switched banks and the autopay was not switched properly. I got behind on payments without realizing it and was sent to collections. My score jumped from the low 600s to 693 in about a year, according to Barclays.

I owe about $12000 in student debt.
I owe about $1700 on my car.

Used to get cc offers all the time and only now am starting to get them again. I'm pre-approved for Chase and Capital One cash back cards, but want the Discover it card after reading more into cash back cards.

Just want to know what everyone's take is on my chances of getting approved. Thanks in advance.


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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Feb 11, 2015 8:10 pm

First of all, keep in mind that this is all just based on anecdotal evidence. I don't know every detail of Discover's approval criteria.

I'd say you have good odds - maybe 50% or 60%. You might get a good CL and APR, too. since you look like someone who is going to be very profitable for them. They'll get revenue from processing fees when you make purchases. You might transfer in a balance from Barclaycard and pay Discover a fee for that. It also looks like you won't necessarily be paying the balance off before your 0% period expires, so that's interest income for them.

Discover seems to like people who will pay their debt off eventually, after a lot of fees and interest. That's a customer base that other prime issuers often like to avoid.

If you were to apply and get declined, you'd learn the reasons they declined you and have something specific to address. One inquiry isn't going to hurt you.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

takeshi
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Postby takeshi » Thu Feb 12, 2015 8:40 am

graath wrote:I am an authorized user on my wife's AMEX Blue Cash card and Chase Freedom with a combined credit line of $9500. Does this count towards my score or credit line?

Depends on creditor and scoring model. I don't know with regard to Discover.

graath wrote:Just want to know what everyone's take is on my chances of getting approved. Thanks in advance.

No idea what your odds are but to improve them with any creditor see what you can do to address your derogs and get your utilization down. 30% is the generally recommended max. Ideal is typically 10% or less.

graath wrote:I own one cc

Picking nits but we don't own our credit cards.

popamode72
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Postby popamode72 » Thu Feb 12, 2015 1:01 pm

graath wrote:Just wondering if you all could give me some feedback on a potential CC ap for the "It" card.

I own one cc, the Barclays USAirways card. Owned it for almost a decade. Have an 8400 limit and owe about $4000 on the card. Also have an AMEX gold charge card.

I am an authorized user on my wife's AMEX Blue Cash card and Chase Freedom with a combined credit line of $9500. Does this count towards my score or credit line?

My current FICO, according to Barclays' site, is 693.

A year ago this time I got into some problems with my car loan when I switched banks and the autopay was not switched properly. I got behind on payments without realizing it and was sent to collections. My score jumped from the low 600s to 693 in about a year, according to Barclays.

I owe about $12000 in student debt.
I owe about $1700 on my car.

Used to get cc offers all the time and only now am starting to get them again. I'm pre-approved for Chase and Capital One cash back cards, but want the Discover it card after reading more into cash back cards.

Just want to know what everyone's take is on my chances of getting approved. Thanks in advance.


Discover can be such a wild card IMO. There are people who are lucky enough to get auto CLIs on a regular basis but for others, they can be really conservative with CLs and CLIs. They started to loosen up a little bit with me but I had to email their executive office and that's how I got another CLI in less than 3 months.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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