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).
If you want to get a Discover credit card and you have a good or excellent credit score, you might think the application is a slam dunk. Even the best Discover credit cards are aimed at consumers with scores of 670 or above. A score of 700 or more is well beyond what you need.
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Your Discover it approval odds are good if you have a 700+ credit score; this means that you need at least good credit to qualify for most Discover it credit cards. There are, though, some Discover it credit cards that are easier to get.
The Discover it Secured Credit Card's income requirement is a minimum of $10,000 annually unless you're a college student. For students, there's usually no proof of income required in order to be approved for the card.
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.
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 provides your FICO® Score 8. Lenders use several different kinds of FICO® Scores, depending on the type of loan they provide. 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 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.
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.
Discover Uses Equifax the Most
Discover uses all three of the credit bureaus — Experian, TransUnion, and Equifax — to check your credit when you apply for one of its cards. However, research indicates that Equifax is first among equals.
Prequalify on Discover's website
Simply provide basic information about your income, expenses, bank accounts and your Social Security number. The tool also lets you filter the cards based on the type you're looking for, such as a rewards card, a travel card or a business-focused card.
Some credit card issuers let you use your instantly approved card immediately, while others require that you wait to receive the physical credit card. With Discover, you can apply, get a quick decision, and use your new card in your digital wallet right away, if eligible.
The Discover it® Cash Back Credit Card may be a great choice for a first credit card because it offers benefits like 5% cash back on purchases in categories that rotate every quarter up to the quarterly maximum when you activate, 1% automatic cash back on other purchases, and an automatic dollar-for-dollar match on all ...
The Discover pre-approval tool can tell you whether you're pre-qualified for a credit card with no harm to your credit. Since the request for pre-approval only generates a soft inquiry, there is no impact to your credit score.
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).
Remember: A credit card application might be rejected for a variety of reasons. But a rejection doesn't directly hurt your credit scores. However, applying may lower your credit scores by just a few points since it will trigger a hard inquiry.
Let's learn about: being denied for a secured credit card
Because while secured credit cards — which require a cash deposit as collateral for your account — are a great option for those who have bad or nonexistent credit, you're not guaranteed approval.
Credit cards are often denied because the applicant's credit score is too low. Each credit card has a recommended credit score range—and if your credit score is not high enough to fall within that range, the lender might deny your credit card application.
No. The FICO® Score and other credit information we provide will never hurt your credit score. In fact, you can check as often as you like – it will never affect your score.
Unsecured Cards. Credit cards can be either secured or unsecured, though unsecured is by far the most common type. If your FICO score is 650 to 699, you will most likely get unsecured cards.
Experian is the largest credit bureau in the United States. Still, it's not the only entity that houses consumer financial data. Equifax and TransUnion are the other major credit reporting agencies lenders, and creditors turn to for credit reports and scores used to make lending decisions.
A Discover credit limit increase request might involve a hard credit inquiry, which could drop your credit score by a few points, but Discover will only proceed with that part of the application after receiving your consent.
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You can only have 2 Discover credit cards at the same time. To get your 2nd Discover card, you must have had the 1st card open for at least 1 year. Your 2 Discover cards can be different or the same, but only of them can be a student card or a secured card.
The big difference is in the initial bonus. Discover it Miles matches all miles you've earned at the end of your first year, and Capital One Venture nets you a one-time bonus of 75,000 miles for spending $4,000 in the first 3 months.