Your Discover it Secured Card approval odds are pretty good, even with bad credit. Discover it Secured was designed for building or rebuilding credit, which means you can get it despite being a newcomer or having a bad score. As long as you have at least $200 to put down for the mandatory security deposit, which serves as your credit line, your odds are very good. But nothing is guaranteed. In particular, Discover names three reasons why you might not be approved: not enough income, too much debt, or a pending bankruptcy. You can look into whether those exclusions apply to you by checking both your latest credit report and your personalized credit analysis, which you can get by signing up for a free WalletHub account.
In general, secured cards have the highest approval rates of any credit cards because there’s little to no risk to the issuer. They can just keep your security deposit if you don’t pay your balance, after all. If you do get denied, Discover will tell you exactly why in their response. But you don’t necessarily have to give up there. You’re allowed to call Discover at 1-800-347-2683 and ask them to reconsider your application.
And if you’re still denied after reconsideration, you’re not completely out of options. Becoming an authorized user on a friend’s or family member’s credit card account can help improve your credit, at least to the point where you can qualify for your own card. You may also want to check out our ”guaranteed approval” credit cards page to see if there are any offers available that don’t require a credit check.
Kind of. The bad score won't really be a problem, as that's what secured cards are for. With that said, it depends on where you are at with your bankruptcy. If it's not discharged, and still fresh, they might deny you. Best to just wait a while. If it's discharged, you still have good odds.
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