FICO Factor in Discover Credit Card Approval
Guest: nessaness
Post subject: FICO Factor in Discover Credit Card Approval
Posted: Mon Jun 12, 2006 2:56 pm
JoJo,
Might want to check out this website:
http://www.financeglobe.com/Finance/index.php?p=getdb&db_id=33
You can click on Discover cards and then choose a card. Under Credit Record Needed it will say the FICO score necessary to qualify for acceptance.
Pretty handy site to see what you qualify for. You can also choose Cards by FICO Score and see all the cards you will qualify for.
Good Luck !!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: quiznut1
Credit Expert (100+ Posts)
Posted: Mon Jun 12, 2006 3:05 pm
Yeah, jojo, my relationship with Discover has been one of love and hate. I had their 5% cash back restaurant card for about a year until they decided to cancel the program, and now I got converted to the standard platinum cashback card, which I must admit, stinks. On every other purchase outside of the get-more categories, here are the cashback tiers:
Annual purchases:
$0-$1500 - .25% cash back
$1500-$3000 - .50% cash back
$3000 and higher - 1% cash back
You can see what I mean. I get better with Citi Dividend's straight 1%! Anyway, the only thing good with Discover is they will give you the 5% cash back on get-more purchases in specific categories throughout the year (they alternate the categories once every 3 months, or 4 times a year). It just depends if you will purchase things in those categories. At the conclusion of last year it was internet purchases, from January to March it was "Health and Wellness" purchases, from April-June it is gas and automotive, and from July-September it will be education expenses.
I'll be taking advantage of the 5% cash back on education expenses in August, when I have to pay for my college. I'll be getting about $90 back as my tuition is around $1,800. So I'm excited about that. I can pay my bill, I just want the $90! Anyway, I would just recommend if you use a Discover cash back card, only use it for 5% purchases, which can be few and far between I know. Even their gas card is 5% only up to the first $1,200 in yearly purchases, then it is back to the standard rate of .25%!! Go figure.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fire3000
Credit Expert (100+ Posts)
Posted: Mon Jun 12, 2006 4:30 pm
I say go for it since your score is very good and you already have high credit limits. They occasionally call me at home and offer me low rate BT deals on my two discover cards. They also offered me special bonuses such as a $20 cash reward for transferring a recurring utility bill to the card. When I did not use one of the cards for six months, they sent me an offer to pay me a dollar for every charge up to 20 during the next 45 days. I also earn 5% on gas purchases. Their cashback rewards are not as good as Citi, but overall I am very pleased.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Jun 12, 2006 8:29 pm
WALMART/SAMS 0.25% MAX (NEVER 1.00%)
(even if you spend $50,000 at those stores)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Mon Jun 12, 2006 8:29 pm
discover turned me down fico 713 at time of application...but soon i try again..
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: jojo
Posted: Tue Jun 13, 2006 1:40 am
thx for all tips!
guess i should try for it
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: FICO Factor in Discover Credit Card Approval
Posted: Mon Jun 12, 2006 2:56 pm
JoJo,
Might want to check out this website:
http://www.financeglobe.com/Finance/index.php?p=getdb&db_id=33
You can click on Discover cards and then choose a card. Under Credit Record Needed it will say the FICO score necessary to qualify for acceptance.
Pretty handy site to see what you qualify for. You can also choose Cards by FICO Score and see all the cards you will qualify for.
Good Luck !!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: quiznut1
Credit Expert (100+ Posts)
Posted: Mon Jun 12, 2006 3:05 pm
Yeah, jojo, my relationship with Discover has been one of love and hate. I had their 5% cash back restaurant card for about a year until they decided to cancel the program, and now I got converted to the standard platinum cashback card, which I must admit, stinks. On every other purchase outside of the get-more categories, here are the cashback tiers:
Annual purchases:
$0-$1500 - .25% cash back
$1500-$3000 - .50% cash back
$3000 and higher - 1% cash back
You can see what I mean. I get better with Citi Dividend's straight 1%! Anyway, the only thing good with Discover is they will give you the 5% cash back on get-more purchases in specific categories throughout the year (they alternate the categories once every 3 months, or 4 times a year). It just depends if you will purchase things in those categories. At the conclusion of last year it was internet purchases, from January to March it was "Health and Wellness" purchases, from April-June it is gas and automotive, and from July-September it will be education expenses.
I'll be taking advantage of the 5% cash back on education expenses in August, when I have to pay for my college. I'll be getting about $90 back as my tuition is around $1,800. So I'm excited about that. I can pay my bill, I just want the $90! Anyway, I would just recommend if you use a Discover cash back card, only use it for 5% purchases, which can be few and far between I know. Even their gas card is 5% only up to the first $1,200 in yearly purchases, then it is back to the standard rate of .25%!! Go figure.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fire3000
Credit Expert (100+ Posts)
Posted: Mon Jun 12, 2006 4:30 pm
I say go for it since your score is very good and you already have high credit limits. They occasionally call me at home and offer me low rate BT deals on my two discover cards. They also offered me special bonuses such as a $20 cash reward for transferring a recurring utility bill to the card. When I did not use one of the cards for six months, they sent me an offer to pay me a dollar for every charge up to 20 during the next 45 days. I also earn 5% on gas purchases. Their cashback rewards are not as good as Citi, but overall I am very pleased.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Jun 12, 2006 8:29 pm
WALMART/SAMS 0.25% MAX (NEVER 1.00%)
(even if you spend $50,000 at those stores)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Mon Jun 12, 2006 8:29 pm
discover turned me down fico 713 at time of application...but soon i try again..
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: jojo
Posted: Tue Jun 13, 2006 1:40 am
thx for all tips!
guess i should try for it
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:14 PM
0 Comments:
Post a Comment
<< Home