Discover Card approved or not?

[Red]

I am 20 years old (21 in October) and my fiancee is a month younger than me. I owe about $4000 on Credit cards ($2800 to 1stFinancial, $1000 to Citi, $400 to Sears) and Discover kept sending me balance transfer offers so I applied online for 0.0% for 12 months. After applying, it said "We need to further review your application, we will contact you through the mail within 30 days"

That sounds like a turndown to me, I've never had an application say that it needs more time... usually they just say yes or no.

BTW, please no thread crapping about how I shouldn't owe money on credit cards... I know this already, I was a collector for Citibank for over a year and I am very familiar with the credit system and analysis of credit bureaus, I simply want to know if Discover is really going to "further review" my application, or if they are just shoving me into the denied tray.

 

[Gunslinger08]

You'll get a letter soon telling you why you were denied.

 

[ddwbi0]

or a letter telling you that you were approved

 

[Gunslinger08]

Further review usually = denied.

 

[RossMAN]

How did you apply online, via phone or mail?

You can call Discover at 1-800-347-2683 they might have a decision already, explain HOW you applied and WHEN you applied, ask them if they have a credit decision yet.

 

[vegetation]

It will flat out say you are denied online if that's the case. Your score was probably on the iffy side so they need a person to look at it, rather than a computer analysis.

 

[manly]

RossMAN, he mentioned he applied online.

If you were in fact denied, under the Fair Credit Reporting Act, you can write the major credit bureaus and request a free copy of your consumer credit report.

 

[ddwbi0]

Originally posted by: joshsquall
Further review usually = denied.

i must be lucky then

 

[RossMAN]

Originally posted by: manly
RossMAN, he mentioned he applied online.

If you were in fact denied, under the Fair Credit Reporting Act, you can write the major credit bureaus and request a free copy of your consumer credit report.

Ah ok, sorry I haven't had my morning coffee yet so I skimmed his post.

I would wait until 3 days has passed since you applied then call for a credit decision.

 

[Red]

Thanks fellers, I'll try that 800 #. My credit score is right around 640... I've never been late, and my unsecured credit is over two years old now, so my score would be pretty high (700+) if I didn't owe so much on my credit cards, grr.

 

[RossMAN]

nm I can't read this morning

 

[Red]

At work, haven't called yet, I'll do it now just for you Ross =)

 

[kranky]

The last card I applied for (AAA card with 5% rebate on gas purchases) said I could apply over the phone for an instant decision. I called and after I gave all the information they transferred me to another group who would tell me if I was approved. Instead of a person, I got a recording that said my application needed further review and they would contact me within 30 days.

About two weeks later my card showed up in the mail.

 

[Red]

Gives me hope but my credit is still overextended, I'm not sure how Discover handles people like me:

I have 3 regular, unsecured credit cards (all Mastercard), ~$4000 balance.

I have 1 retail card, $0 balance.

I had one $12,000 car loan when I turned 18 that was opened 14 months before being paid off by Honda (trade in on old car). So now I have a new Honda Car loan that has been open 9 months.

I paid off a $3,500 engagement ring debt that I did 12 month financing on... and I opened up a Dell account and my father is paying that off within the next 3 months ($1400 loan).

I make $10/hr and work 30 hours a week during school, 40 over summer.