Declined for Discover Platinum

Discussion in 'Credit Talk' started by RichGuy, Oct 8, 2000.

  1. RichGuy

    RichGuy Guest

    Sad story repeats itself:

    In July, I returned one of those "pre-selected" offers for Discover Platinum. They quickly turned me down, citing an Experian report as the reason/excuse.

    In September, I returned another such offer. My reasoning was that the first offer had a reply address in Wilmington DE, while the second would go to El Paso TX. I was hoping that a different state could mean a different CRA. (Experian sells a worse report about me than the other two agencies do.)

    In addition, Barry's list on CreditMania showed Discover using other CRA's. An address in Texas made this seem plausible in my case as well. No such luck. My second rejection letter came quickly as usual, and was identical to the first except for the date. "Identical" includes the use once again of a report from Experian.

    I think there are better cards than Discover, especially where interest rates are concerned. But it would have been much better than my subprime cards like Providian and Capital One. That's why I applied again. I don't believe I'll apply a third time, at least not for a year or two.

    The point of this story is that if you try again, you may get the same result you did the first time. It's better to use that inquiry to try something new.
  2. ED

    ED Well-Known Member

    I dont get it??

    Pre-Approved doesnt mean anything, being a frequent visitor of this board you should know this, and why would you apply for a platinum card if you have credit problems or negative info on your credit report anyways? And worst of all with the same company that denied you before for the same card?????
  3. creditwork

    creditwork Well-Known Member

    RE: Declined for Discover Plat

    My policy is to wait 6 months when turned down, but do not apply again unless you have changed something. You should be making more money or owing less. You should try to clean any inaccuracies before reapplying.
    You should have exercised your credit.
  4. Fred

    Fred Guest

    RE: I dont get it??

    He did say the offer was Pre-Selected Not Pre-Approved. To my knowledge there is a difference. I myself have never known anyone to be denied a Pre-Approved card. He should have stopped and not applied at the Pre-Selected. That offer I know many people have been denied.
  5. Well Ed

    Well Ed Guest

    RE: I dont get it??

    First off he stated preselected not preapproved, there is a difference there. Secondly he was just warning people about what mistake he had done. I really don't think you need to be that critical, afterall we are here to help others .
  6. RichGuy

    RichGuy Guest

    Some Explanations

    If you don't get it why I applied twice, then maybe you also don't get it why they offered it to me twice. I was experimenting to see if a somewhat different offer, apparently from a different office, would lead to a different credit report and a different result. The results of my experiment were negative, but knowing that could be useful to others.

    As far as platinum cards go, I can apply for any card I wish, and this one was offered to me. I already have a platinum card, the Citibank "Platinum Select" card which is less selective than some other platinum cards. I had reason to believe the Discover Platinum wasn't particularly selective either. They're tough on delinquencies but easy on established credit. I hoped they would pull another report without delinquencies, and I happened to be wrong.

    Incidentally, besides the Discover Platinum at 14.9% and my Citibank card at 15.4%, I've seen an offer for the Optima Platinum at 17.4% with a minimum credit line of $2000. So platinum cards are quite diverse in their terms and appeal, and I think anyone who wants one should try every now and then to get one. A lot of people with minor credit problems have gotten platinum cards. It's usually just a matter of how recent those problems are.
  7. RichGuy

    RichGuy Guest

    RE: Declined for Discover Plat

    Your advice fits my situation perfectly. My primary goal is to increase my income, both to reduce my current debt and to support more debt in the future.

    If by "exercising my credit" you mean paying it off quickly, then I suppose that remark has some value as well. Otherwise, it remains a mystery to me.
  8. creditwork

    creditwork Well-Known Member

    RE: Declined for Discover Plat

    Exercising your credit, means using it. Flex it, credit is a lot like muscle, you work out to make your muscles grow. Use your credit to make it grow. Use it responsibly, make large payments and make them early. It works for me, it can work for you.
  9. ble103

    ble103 Guest

    RE: Declined for Discover Plat

    I do the same thing when it comes to managing credit card debt.Never change any set payment on the old part of credit card debt.If any new amount would be added at 1 time all you got to do is to take that amount and add like 2.5% more of that dollar amount add it to the set payment amount on the old debt that way this new debt will be paid off with the old.Also the interest rates are very important factor on achiving your goal on getting out of debt on time.Take avantage of every low rate balance transfer offers to keep the interest at an average of 5.9% or alittle lower on outstanding balances.
  10. Chet

    Chet Well-Known Member

    RE: I dont get it??

    The "pre-selected" offer means that you are pre-selected to "apply" for the card.
  11. Terri Jone

    Terri Jone Guest

    RE: I dont get it??

    You CAN be denied for a "Pre-Approved"....about a year ago(perfect credit record),Providian sent me a Pre-Approved Platinum offer that looked as though it was handwritten by CEO/COO(but....nevertheless....was told that I did not qualify(no particular reason)...which I told them to stick it up their ASS).Well,always ASK why(because you never know how you can debate until you are matching wits with a computer). In 1995, I applied for a Bank One Line of Credit(Signature/Unsecured)just for the heck of it & was DECLINED).I called to the loan by phone dept & asked "WHY??". They could not give any particular reason why,so it was overturned & I started w/$2,500.00 open to borrow. I paid INSISTENTLY on time & my credit limit now is $10,000 dollars !!!!! My respect for Bank One is one that can NEVER be tarnished by anyone....even though everyone tells you that the Credit Union & such are the best,my best relationship is w/Bank One.

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