Discover Motiva Card

Title: Rebuilding AND Approved!!!
Date Reviewed: 2011-12-06 15:59:46 | Recommended?: Yes
Remarks: Based on how much time I have logged reading reviews on this site, I feel obligated to share my recent approval story. Warning: this is lengthy & detailed!! I began rebuilding in April 2011 and my starting points were: Exp 601 / EQ 569 / TU 599. As of Dec 2011 they are: Exp 666 / EQ 621 / TU 642. Still alot of work to do. I had resisted urges to apply for cards and my last attempt had been about 16 months ago--denied for AMEX & BofA card in Aug 2010. I had applied before understand how credit works and before I was rebuilding. Here is an idea of my situation: I had a student loan that was in a C/O status but has since been changed to OK, 1 collection account (paid but still on report), and to this day I have a old 2007 Citi account that is listed as a C/O status which I am working to get removed due. Another site that you can compliment your use of this website with is whogavemecredit.com. I would not have applied for this Discover card if something else hadn't happened first. I was reading that the AMEX Zync card was approving people with around the same Experian score with me, many of whom earned less than me (85k), and those same people also that they were given credit decisions based on Exp alone--as you can see this played into my benefit due to it being my best score. I decided to go for it. I received an instant approval!! Apparently this is not a typical credit account with a traditional CL but rather a "charge card" in which I will pay in full after each month and there is no "limit". I am still in the process of receiving the card, finding out what my one time transaction limit is, and also how it will affect my chances of getting a more prestigious and traditional AMEX in the future. I will give an update in the next couple of weeks. But back to the Discover Motiva card...so I was feeling that there may be a chance of receiving an approval with this Discover card so I applied online. I received the "please wait 5-7 days" message and called the backdoor number listed on the myfico.com forum (another awesome site!!!). I was connected right to an extremely nice senior credit analyst who asked me several questions: income, how long i have worked at this current job, previous job, allowed me to explain several discrepencies on the report he was looking at--and afterwards let me know they'll approve me with a $1000 CL. He commended my effort by noticing that I have had a good year of paying a Capital One Card, a small HSBC card, student loans, and a Chase Auto loan. If you find yourself in a similiar situation and you're on the phone with a credit analyst--be professionaly and don't shy away from sharing your rebuilding strategy to the CSR!! He said after 6 months they will review and perhaps extend that initial CL, and/or negotiate a lower APR. I did not ask the exact reports they pulled, or if it was FICO or FAKO, or even the exact details of the intro APR or normal APR. I hope this can give some people insight!!

Title: Approved
Date Reviewed: 2011-08-18 20:02:09 | Recommended?: Yes
Remarks: Initially receive 5-7 days message, after checking status, it gives 30 day messages. 3 days later, they called me at work to verify some information and got approved afterwards. Time to fire off HSBC low credit limit credit cards. Initial credit limit is $1500.

Title: Approved
Date Reviewed: 2011-08-03 12:39:48 | Recommended?: Yes
Remarks: I was approved for this card after calling them about the status of my application. I was given a credit limit of $1,500.00 because of my thin credit file. They pulled my myfico equifax credit score which is 743. This is my first prime card, and I am so happy that I have another cc other than capital one platinum card that I have with a $500.00 credit limit. TU FICO: 688 EQ FICO: 743

Title: Waiting for Processing..Approved 3 hours later
Date Reviewed: 2011-07-18 16:06:03 | Recommended?: Yes
Remarks: That is what happened. i thought i was going to get denied. Applied for AMEX Skymiles this morning and instant DENIAL. EQ 665, EXP 635. Discover said it needed more time then i got a phone call and after answering a few questions I got an approval. I figured since AMEX denied me, than Discover was sure to follow. Ive heard that Discover's approval process is twitchy..and that it's hard to get, but I was pleasantly surprised.. Now I'm waiting in CITI. they said the same when i appiled (waiting for additional processing) i hope an approval is on the way. If i get CITI too then i'll have 3 CC's and i'm done. I had only a CAP1 card to start. I got it to get my foot in the door to getting a better CC. FYI - I have a few hard inq's, but no BK and 2 old payed off bills on my credit rep still showing as a negative.

Title: GODD GOOD CARD
Date Reviewed: 2010-05-17 23:16:16 | Recommended?: Yes
Remarks: LOVE THIS CARD. PERIOD. I Would recommend anyone with a FICO ON TU of 720 with limited INQ no more than 2 apply for this best discover around!

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Discover® Motiva Card