Discover card requirements?

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Discover card requirements?

Postby Michael_S » Fri Aug 23, 2013 6:32 pm

The following Discover offers are temporarily unavailable. The following information is for reference only.

Want the REAL hidden truth about the credit score requirements in order to get approved for a Discover card right now in 2013?

I have been in "Bad or low credit" cards for about 3 years now. I am looking to get into a "better" credit card now because my credit score is starting to go up. What i mean by better is i have a Citi basic card for 2 years with a $1200 limit but my Best Buy Reward Zone Card has an $1900 limit.

I currently have a 678 credit score and i was looking at Discover card because i have heard so much about their cash back programs.

What do you guys think? I read here that Discover needs a minimum 700 credit score to get approved. Is that true? Should i wait a little longer to get my CS up more or should i go apply now. I think the "it" is the only card i want to apply for now or maybe a capital one card and that is it. I don't want to put a lot of inquiries on my report again if I am going to get denied.

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Postby CCG » Fri Aug 23, 2013 9:18 pm

On a historical basis, the Discover card requirements are the $15k annual income and a minimum FICO in the neighborhood of 690 to 700 (but that's based on feedback I hear from applicants, obviously the issuer doesn't disclose the actual qualifications to anyone).

It's worth noting that if the reason you have that score is due to limited credit history, they seem to view that more favorably then if you have it because of a charge-offs or a bankruptcy in the past (in short- they seem more open to taking a chance on those with thin credit files, as long as there isn't charged-off debt).

Here is a review of the Discover It but I would advise against applying if your score is not in that range.

If you're a student, then try for the Discover it card for students because it's easier to get approved for. But you have to be in college in order to apply for this version.

If you don't have downright "bad" credit but it's not great either, then I would advise you check out these entry-level unsecured cards for fair credit. A couple actually have good reward programs.

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Postby Elvis_C » Sat Aug 24, 2013 12:55 am

I would say that in order to be approved for a Discover Card, you need to have a credit score of at least 670, have at least an annual income of $15,000, and not been recently late on any credit card. Remember that if you want to increase your credit score, you need to pay on time and don't use more than 25% of your available credit line.

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Postby fffresh » Sat Aug 24, 2013 10:41 am

Before the credit crunch I heard that you needed at least a 700 FICO to be approved for a Discover. I bet the Discover card requirements have gotten tighter since. But all creditors are known to constantly change their requirements so you won't know until you try applying. Discover has been doing a lot of marketing lately and that might mean they are a little bit more flexible right now. I think it's worth a shot.

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Postby Money card » Sat Aug 24, 2013 1:09 pm

you have a best buy rewards zone card any others? which ones? other than the Orchard? do you have any with your personal bank ? The only thing about the Discover card is it isn't as accepted as Visa, Mastercard and American express. so when you go places you might want to ask if they take Discover. It doesn't hurt to try.

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Postby danpass » Sat Aug 24, 2013 4:12 pm

I had applied for the Discover card AFTER receiving a pre-approval in the mail.

I figured at that point my 'file' had passed most of their requirements. I received the "we'll let you know in 5-7 days" when the online pre-apporval finally completed.

Hmmmmm ..... "pre-approved" huh?

Well I got a call two days later, that I didn't answer because I don't give out info over the phone unless I initiate the call, googled the number, saw it was Discover. I knew what it was for so I called back.

After about 10 min, and the rep trying to figure out what the deal was with 50% utilization becoming 3% (with no additional credit) in just two months (I paid off a bunch using bonuses and selling stuff), I received 'final' approval for just $1,300.

I almost said forget it but it is a Prime card and I accepted.

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Postby Meltdownblitz » Sat Aug 24, 2013 7:41 pm

Very nice, congrats! Which discover card did you get? I love my discover card, you should enjoy yours too.

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Postby CC Deville » Sat Aug 24, 2013 11:32 pm

Discover likes to see usage. If you use the card on a regular basis, they will likley start giving regular increases.

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Postby chris2k5 » Sun Aug 25, 2013 9:14 am

I am 20 with 2 credit cards: CapitalOne Platinum and Chase Freedom.
According to CreditKarma my score is 704. Never late on a single payment and I have student loans.

I did apply to Amex Blue Cash Everyday and got rejected.

Maybe an hour later I did apply to Discover card. They said they couldn't approve under the CURRENT terms but they altered the terms and approved me. (Increased APR rates I guess)

So I would say you need to have 670-750 range and never been late on a payment. Now I just need that Amex card to round out my wallet.

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Postby irvine801 » Wed Aug 28, 2013 1:56 pm

I initially started at a 1k limit with discover. After 10 mo I went from 2k to 4k. They pulled TransUnion every time and I was about... 675-690ish FICO went I got my cli. I love my discover card. Best of all, American customer service!!! [discoverit].[/discoverit]
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

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