I would like to know if anyone has gotten a Discover Platinum card, if they currently had a lot of credit. I know Discover is notorious for giving credit to people with a limited amount of credit. I have about 30 accounts reporting on me, all are positive, no negatives, and a trillion inquiries. Of those 30 accounts, 5 are "AU", 10 has been paid off and closed as of this month, and 10 have been paid off, still open, and the others have balances. My debt load was 27,000 in revolving debt and now it down to 15,000,w/70% aval. credit and 1 new auto loan. What do you think my chances of approval are? I plan on applying in 6 months, allowing time for my credit report to update and so my inquiries won't harm me too bad.
I have DISCOVERCARD PLATINUM...and have a lot of other credit. Was an upgrade from regular card. NOTE: HAD CARD FOR OVER FIVE YEARS W/O ANY "AUTOMATIC" CREDIT LINE INCREASE, EVER!!! APPLY??? IF YOU HAVE NO INQUIRES FOR SIX MONTHS IT WILL PROBABLY BE APPROVED. IF YOU WANT, YOU CAN APPLY ON LINE. ALSO BAD...NEW APPLICATIONS GET LOWER INTEREST RATE THAN PEOPLE WITH OVER FIVE YEARS. ALSO GET 0.00% INTRO RATE.
RE: Thanks George Yeah that sucks when the new applicant can get better terms than a long time customer. I sure hope I can get the card. I want it so bad, that if they had a secured card, I would jump on that, just to have the card.
They use your credit score to decide if you meet their criteria for an increase on your credit limit.Creditors are tighting up further on their credit standards to guard against any major losses that they are expecting as this booming economy is starting to wind down.The 4 reasons code that makes up your score will be the factor on them deciding wether to give to you or not.
I definitely suggest waiting 6 mo. for the inquiries to lose their negative effect. I applied in September, and my first denial reason was "excessive inquiries." I had 13-15 in the past six months when I applied (I assume "trillions" is more yet!!) I called the rep, and she said they look at inquiries from the past six months, so if you could go that long w/o applying for any more credit, then you should be in good shape. They pulled TU for me here in Indiana, but it seems like everybody else has different reports pulled than me from the same lender, so I don't know for sure...
