Chances of getting a Discover Chrome card? Newbie here

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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staticjacket
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Chances of getting a Discover Chrome card? Newbie here

Postby staticjacket » Wed Feb 10, 2016 6:17 am

Hi, Im 26 and recently decided to try to get into increasing my credit score and history. So, my score is 675, but the things that count against me are my credit age, only 2 years and two months, total accounts only 6 for transunion, 9 for equifax, and a stupid collections account for 53 dollars that is long paid off (damn hospital sent bill for medical supplies to the wrong address, but I guess that's my fault, right? Would have gladly paid double rather than deal with a collections account) . Some of my accounts are an auto loan, the rest being student debt besides my secure card. My secure card I just got from my bank, wells fargo, and I have yet to even have a complete billing cycle on it, so my credit report doesn't show any history on it yet. However, I've never missed a payment on anything.

I have Credit Karma, and it says I have a Very Good* chance of getting a Discover Chrome card. I'm eager to build credit, as I'm trying to get a house sometime after next year, but I don't want to put another inquiry on my report that's going to get me no where. Do you guys think I actually have a very good chance of getting that card, or should I play it save and only apply for Discover's secure card?


kdm31091
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Re: Chances of getting a Discover Chrome card? Newbie here

Postby kdm31091 » Wed Feb 10, 2016 9:52 am

staticjacket wrote:Hi, Im 26 and recently decided to try to get into increasing my credit score and history. So, my score is 675, but the things that count against me are my credit age, only 2 years and two months, total accounts only 6 for transunion, 9 for equifax, and a stupid collections account for 53 dollars that is long paid off (damn hospital sent bill for medical supplies to the wrong address, but I guess that's my fault, right? Would have gladly paid double rather than deal with a collections account) . Some of my accounts are an auto loan, the rest being student debt besides my secure card. My secure card I just got from my bank, wells fargo, and I have yet to even have a complete billing cycle on it, so my credit report doesn't show any history on it yet. However, I've never missed a payment on anything.

I have Credit Karma, and it says I have a Very Good* chance of getting a Discover Chrome card. I'm eager to build credit, as I'm trying to get a house sometime after next year, but I don't want to put another inquiry on my report that's going to get me no where. Do you guys think I actually have a very good chance of getting that card, or should I play it save and only apply for Discover's secure card?


I would wait awhile....let that secured card age and build a history. With 6 months or so of that, you may have a chance at a non-secured Discover.

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Vattené
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Re: Chances of getting a Discover Chrome card? Newbie here

Postby Vattené » Wed Feb 10, 2016 10:15 am

How old is that paid off collections account, and is it showing as paid on your credit reports?

Waiting a bit would certainly be safer, but depending on the timeline of applying for a mortgage you don't want to wait too long. You should avoid any new accounts 6 months before applying, and if you do get a new credit card account between then and now the earlier you get it translates into more history it can build for you before applying. Do you have a good idea of when you'll want a mortgage? If you think there's a good chance it will be a year from now, I would go ahead and apply right away, personally. You might be a bit on the fence, but I think your chances of approval are decent now. You just say "sometime after next year," so if that will more likely be closer to 18-24 months from now, I would wait a few months, as kdm says. The account may not be reporting, but the HP from applying for it probably is and it would help you to have that inquiry age a bit and let the account get some history.
-Vattené
FICO-8:
EX - 805 (12/16) | TU - 803 (12/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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