Discover provides your score from data on your TransUnion® credit report. Scores may vary when using data from your Experian or Equifax credit report. The score Discover provides is a snapshot of your info at a moment in time and will often vary from month to month.
Discover uses all three of the credit bureaus — Experian, TransUnion, and Equifax — to check your credit when you apply for one of its cards.
A 700+ credit score is needed to get most Discover credit cards, but there's no minimum credit score needed for a few Discover cards. You can get the Discover it® Secured Credit Card with a bad credit score (below 640).
Discover is a credit card brand that is issued by the American financial services company Discover Financial (DFS).
You can get a Discover credit card with any credit score or even no credit history at all. Discover has credit card options to fit every consumer. If you have bad credit or no credit history, you could get a secured card with Discover.
The reasons will be listed in the denial letter Discover sends out shortly after its decision. They may include an annual income below what's needed to make minimum monthly payments, a low credit score, too many recent credit inquiries or a high amount of debt, among others.
Credit cards branded Visa Signature or Visa Infinite typically offer a starting credit limit of $5,000 or more. The Chase Sapphire Preferred® Card is a Visa Signature card, for example, and the Chase Sapphire Reserve® is a Visa Infinite card (a tier above Signature).
About Discover Financial Services, Inc. Discover Financial Services, Inc., a business unit of Morgan Stanley (NYSE:MWD), operates the Discover Card brands and the Discover Business Services network for its more than 50 million Cardmembers.
The minimum security deposit is $200 to open a Discover it® Secured Credit Card account. You can choose to deposit more money to get a higher limit. The maximum credit limit is $2,500.
Major Credit Card means MasterCard, Visa, American Express, or Discover.
Discover card approval may happen instantly when you apply, or you'll get a letter and email within a couple of weeks. Your card should arrive 7-10 business days after you're approved.
There's a good chance you'll be pre-approved for at least one Discover card, as Discover has cards for people of all credit levels. But it's important to remember that pre-approval does not actually guarantee you'll get a card.
A high number of credit applications also makes you a riskier applicant. You could have trouble getting a Discover credit card if you've applied for multiple credit cards or loans recently, even if you weren't approved for some of them.
Discover provides your score from data on your TransUnion® credit report. Scores may vary when using data from your Experian or Equifax credit report.
That's not good. I did indeed say that I've found -- based on what I've been told by experts and Discover customers -- that FICO scores provided by Discover are accurate. Keep in mind that Discover isn't calculating these scores.
If you have good credit, you should have high odds of getting approved for a credit limit around $5,000. With excellent credit, you may get a limit of more than $10,000. A high credit limit is good because using up most or all of your credit card's limit is bad for your credit standing.
Discover may automatically increase your credit limit depending on your account history and creditworthiness. If you consistently make on-time payments on your Discover card account, for example, you might be more likely to receive an automatic credit limit increase than someone who regularly misses payments.
As such, if you have one of these cards, you might consider a $5,000 credit limit to be bad and a limit of $10,000 or more to be good. Overall, any credit limit of five figures or more is broadly accepted as a high credit limit.
Yes, Discover Bank is FDIC insured (FDIC# 5649). The federal government protects your money up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
Discover Financial Services, a business unit of Morgan Stanley (NYSE:MWD), operates the Discover Card and the Discover Network for its more than 50 million Cardmembers.
One major national chain outlet that doesn't accept Discover at any outlets is Costco, which only honors one credit card brand at its members-only warehouse stores, tire centers and gas stations.
A good credit limit is above $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income and little to no existing debt.
The Secured Sable ONE Credit Card offers one of the highest credit lines currently available for secured credit cards: $10,000. But unlike typical secured credit cards that often require minimum security deposits of around $200, the Secured Sable ONE Credit Card does not have a minimum deposit requirement.
In general, you could get approved for a credit card with a $20,000 limit if you have excellent credit, a lot of income, and very little debt.