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Discussion in 'Credit Talk' started by rolo, Sep 19, 2000.
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the only offer is only for the platinum.
AND WHAT DOES THAT MEAN, I HAVE CAPITAL ONE AND PROVIDIAN BUT WOULD LIKE TO APPLY FOR DISCOVER
RE: Discover-some else reply t
Sorry, the online application is for the platinum discover which would require good credit. That is all I know. Sorry if i upset you.
Whoa...it means you've been eating too many Rolos. Calm down..."roni" meant nothing disrespectful by it...
Anyway, you can apply online for the Platinum (and by the way, Providian and Capital One aren't necressarily prestigious) and if you're not approved for that, they will consider you for the regular card. Both cards are good.
Jo's right they will consider you for the Gold or Regular one if you don't qualify.
Also the on line apps I've submitted so far all told me further processing is needed but they were approved for Plat.
As far as your question about approval chances here's what I have seen from personal exp. and posting here on the board:
1. about 1 yrs credit history is needed
2. Discover does not like damaged or blemished history!
3. About 3-4 trade lines reporting should be enough to get the card.
4. Discover seems to go on your income more than what other cards have given you, so the credit limits are generaly higher.
My advise is this. If you don't have many inquiries apply now, and you can reapply in 4-6 months time if not approved.
If you've got some inquiries why not wait 3-4 months then apply.
continue to re apply with them and call to ask why your not approved if you are denied.
I would also ask the rep his/her advice for increasing your chances the next time you apply!
I got the Discover Platinum with less
than 1 year of credit history. But i have
already had 4 other accounts with spotless
history on them...
They didn't approve it online, they said it
will require offline processing. But after
about 10 days i've got the card in the mail.
What 4 accounts did you have?
Capital One MC secured $200
Providian Visa Classic $1100
Associated Visa Classic $750 (at that time)
Citibank Platinum Select $1200
and i forgot to mention a personal loan
for $3000 from First Union
When did you get your cards? You mentioned that you applied for Discover and were approved with less than 1 year credit history.
Also, were you approved for the Platinum for the standard card?
Cap One, 9/99
First Union Loan 5/00
It is a Platinum card, $6000 line, 14.9% APR
0% APR till 2001.
I haven't got any credit line before Cap One,
so i guess that makes less than a year of
WOW! That's great. Did you have balances on your credit cards when you were approved?
Also, did you have many inquiries?
Last, I read that Discover sometimes approves if there is a short history, but substantial income; is that your case?
I usually don't keep balances (i pay in full)
It is possible that the income was considered, I was making 50k a year at that time.
And about the inquiries, i had about 5 in the
last 6 months before applying.
WHAT I'VE SAID BEFORE!
Thank you Sorin for this great post.
This is exactly why I've been praising Discover Card, and recomending it so highly.
If Sorin now applys for an Optima Card he should get it with a $6,000.00 limit thanks to Discover taking him from the $1-2K limits to the $6K figures, and increaseing his FICO score to boot.
Sorin my strong advise now is to slowly start closing those crappy $200-300.00 sub primes as they come for renewal. Start applying for bigger, and better things!
RE: WHAT I'VE SAID BEFORE!
>Sorin my strong advise now is to slowly >start closing those crappy $200-300.00 sub >primes as they come for renewal. Start >applying for bigger, and better things!
This is exactly what i'm planning to do.
I've already closed Cap One ($200) limit.
Now I'm trying to decide which one is
the next. Providian is the only one left
with annual fee, but if they'll remove it
i think i'm gonna keep it (i kinda like their
new online account stuff). The Associates
have no online access and a huge APR (27%)
but no annual fee...
Meanwhile I'm gonna apply for an AMEX.
Not sure which one though...
That is a better product to apply for. You will have more leverage if you are denied.
Just my suggestion,
RE: Optima Platinum
I agree, you can then (if denied) request a review and probably get at least a "Blue" Optima card
Let us know what happens!