Why did I get denied for a Discover student credit card?
Like all credit card companies, Discover looks at more than your credit score when you apply for a card. It could deny your application based on other factors. … Insufficient income: Your income determines whether Discover will approve you for a credit card and the amount of your credit limit.
Why did my Discover card application get declined?
Common reasons why credit card applications get denied: You have too much existing debt. If you have a high loan balance or high credit card debt, it will stand out to a card issuer. … Card issuers want to see that you can responsibly use only a fraction of your available credit.
Is it easy to get approved for Discover IT student card?
But we recommend a score of at least 700, which is toward the top of the good range, for the cards that require good credit for approval. So, most Discover cards may be a tough get for the average person, who has a credit score of 680-703. With that being said, it’s not just your credit score you should worry about.
How do I qualify for a student Discover Card?
To qualify for a Discover student credit card, you must be at least 18 years old, enrolled in a two- or four-year college, a U.S. citizen and have a Social Security number. You will also need to have verifiable independent income, like a part-time job, and you may have to show proof of income.
Does student loan affect credit card application?
Falling behind on your student loan payments will significantly lower your credit score and make it difficult for you to qualify for other credit accounts, including credit cards.
Does Discover ask for proof of income?
American Express and Discover are the two main credit issuers who routinely request Form 4506-T to verify your income.
Why wont Discover approve me?
Insufficient income: Your income determines whether Discover will approve you for a credit card and the amount of your credit limit. … 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.
Does Discover Card have a daily limit?
Is there a daily limit to the amount of money I can withdraw from an ATM with my debit card? Yes. The Discover ATM withdrawal limit is $510 per day. Some ATMs may have lower withdrawal limits, but you may complete multiple transactions until you meet the Discover withdrawal limit of $510 per day.
Does Discover credit card have a daily limit?
The Discover it Cash Back credit limit is at least $500 for all cardholders. It has the potential to be higher too. Discover does not disclose a maximum credit limit, but there are reports of some cardholders receiving credit limits between $10,000 and $20,000.
What is the credit limit on a Discover student card?
The Discover student credit card limit is $500 or more for both the Discover it Student chrome Card and the Discover it Student Cash Back Card. There is no reported maximum Discover student credit card limit, but there are reports of cardholders receiving an initial limit of as much as $3,000.
How long does it take to get approved for a Discover student card?
With an instant approval, the issuer will typically deliver the card in 7-10 business days.
What income do you need for Discover Student Card?
Discover does not disclose its minimum income requirements. But several third-party sources say that you’ll need to make at least $2,000 per year if you’re a student. While the Discover it Student Card is fairly easy for students to get, approval is not guaranteed.