If you’re looking for a secured credit card, the Discover It Secured Card is a great option. But what has been Discover It Secured Card Approval Odds. In this blog post, we’ll break down the approval odds and give you some tips on how to increase your chances of being approved.
Let’s start.
What are the approval odds for the card Discover it secured Credit Card?
When it comes to the Discover it Secured Credit Card, your odds of approval might be high if you’re pre-approved for it. Usually, pre-approval means your chances are around 90%.
To see if you’re pre-approved, just check the list of cards designed for people with 700 credit scores – the Discover it Secured Credit Card is often included in this list. And lucky for you, many of the best credit cards for those with a 700 credit score don’t have annual fees.
This card’s approval criteria are much more lenient than most others on the market. Plus, it can be a fantastic tool for improving your credit score.
That said, approval isn’t guaranteed and it’s important to examine any potential red flags before submitting your application. Overall, the Discover it Secured Credit Card is a great option for those in need of rebuilding or establishing credit.
What is the requirement for Discover it secured card approval?
The Discover it Secured Card is a great way to build or rebuild your credit. And, unlike some other secured cards, it comes with some great perks like cash-back rewards.
But what are the requirements for getting approved for this card? Let’s take a look.
Security Deposit
To be approved for the Discover it Secured Card, you’ll need to have a bank account so that you can pay the security deposit. The minimum deposit is $200, but you may need to deposit more depending on your credit history.
Income
You’ll also need to have some form of income. This isn’t as big of a factor as your deposit, but if your income is too low, you may be denied.
Low Debt
It’s also important to have as little debt as possible. You can still get approved if you have debt, but if you have an overwhelming amount of debt, you may not be approved.
No pending bankruptcy
Finally, you cannot have a pending bankruptcy. If you have a completed bankruptcy on your credit report, you may still be approved, but if it’s pending, you will not be approved.
If you’re looking to build or rebuild your credit, the Discover it Secured Card is a great option. And, unlike some other secured cards, it comes with some great perks like cash-back rewards. But there are a few requirements for getting approved for this card.
Namely, you’ll need a bank account so that you can pay the security deposit, some form of income, and as little debt as possible. You also cannot have a pending bankruptcy.
If you meet all of these requirements, you should have no problem getting approved for this card!
How to (Almost) Guarantee Approval for the Discover It Secured Card
The Discover It Secured Card is one of the best-secured credit cards on the market. And while its approval requirements aren’t too high, there’s always a possibility of rejection. So, what can you do to increase your chances of being approved for this card?
1. Check Your Credit Score and Report
Before you apply for any credit card, it’s always a good idea to check your credit score and report. This will give you a better understanding of your financial situation and where you stand in terms of creditworthiness.
If your score is on the lower end, don’t worry – there are still plenty of options available to you.
2. Apply for the Card Online
One of the best ways to increase your chances of being approved for a credit card is to apply online. When you apply online, the process is usually faster and more streamlined.
Additionally, many issuers will provide an instant decision, so you’ll know right away if you’ve been approved or not.
3. Call for Reconsideration if You’re Rejected
If you are rejected for the Discover It Secured Card, don’t despair – all is not lost. You can always call Discover’s reconsideration line at 1-800-347-2683 and speak with a representative about your situation. Oftentimes, they will be able to approve you over the phone.
The Discover It Secured Card is a great option for those with bad or limited credit history. And while its approval requirements aren’t too high, there’s always a possibility of rejection.
However, by following these simple tips, you can almost guarantee that you’ll be approved for this card.
Conclusion
If you’re looking for a secured credit card that comes with some great perks, the Discover it Secured Card is a great option. You’ll need to meet a few requirements, such as having a bank account and paying the security deposit, but if you do, you should have no problem being approved.
What do you think? Do you have the Discover it Secured Card? How did you find the approval process? Let us know in the comments below!
