Discover student credit card requirements?

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macosxp
 
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Discover student credit card requirements?

Postby macosxp » Thu Sep 26, 2013 11:08 am

Since it seems impossible to contact Discover for an answer to this question, I figured I'd ask here. (If there's a secret email address or phone number, please tell me! The people on the phone aren't good for anything other than taking over-the-phone applications.)

Basically, I'm a student in community college, and I'm about to transfer to a university. I'm also a dependent on my parents' taxes, though I do have some income of my own.

(And before you say that there's no chance of me meeting the credit requirements for a Discover card, know that I have had a credit card co-signed with one of my parents for over a year, always paying perfectly, and my credit score is now over 700.)

Anyway, here's where I'm stuck:

First, when it asks me to put in my college, do I put in the college I'm *currently* in or the one where I'm going to actually be getting my degree from?

Second, in the Yearly Income, do I put my income (which is something but not very much) or my parents' income (since I am a dependent)? I'm not sure what they mean, and their question mark hover-tool-tip thing brings up a 404 page thing.

Thanks!


CCG
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Postby CCG » Thu Sep 26, 2013 1:23 pm

First, when it asks me to put in my college, do I put in the college I'm *currently* in or the one where I'm going to actually be getting my degree from?
To the best of my knowledge you should put the college you are currently attending at the time of the application.

Second, in the Yearly Income, do I put my income (which is something but not very much) or my parents' income (since I am a dependent)?
This is tricky question and unfortunately I do not know the answer. Some credit card issuers have almost circumvented the credit card reform student card requirements by allowing the inclusion of grants, scholarships, and parental contributions in figuring the income amount. I do not agree with that practice and imagine it will change but as of Feb. 2011 many issuers are doing it. Whether Discover does or not I do not know but I talk more about their cards here in my sponsored writeup about them:

Discover Student credit card review

If it were me applying, I would use my regular income amount (excluding the above items) even if it is low. Card issuers do not expect students to be making much and many reportedly have annual income requirements as low as $2,000 from what I have heard in the media.

Good luck,
CreditCardGuru


creditcruncher
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Location: Tampa

Postby creditcruncher » Thu Sep 26, 2013 3:42 pm

The Discover student credit card is only for students attending a four year university. I am currently attending a community college and applied for their student card in the past. Instead of processing your application for a student card they processed it for a regular card. Unfortunately I was declined due to a lack of credit history.

In more positive news, Capital One accepted me for the card here.



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