Q: At your recommendation, I applied for the Discover it card. Unfortunately, I was denied. Should I try to apply for the Chase Freedom card instead?
A: First, we should look at who qualifies for each card.
For their Discover it card, Discover looks at a number of things, one of the most important being your credit score. The credit score required for Discover it is good or better, so around 700 and up.
If you have a score above 700 and no serious black marks on your credit report (such as high utilization, a lot of credit inquiries, or a recent bankruptcy), then you have a good chance of getting the card.
The requirements are similar for Chase Freedom, requiring at least an “above average” credit score – so around 670 and above. You also will not want too many inquiries. Additionally, Chase frowns on high revolving balances. Based on this, Chase’s card does appear to be a bit more picky.
If you were turned down for Discover it, there’s a good chance you’ll be turned down for Chase Freedom also.
If you don’t mind another inquiry on your credit report, you can try, but keep in mind that the inquiry will be on your report for two years. If you have too many, you may be turned down for other cards that you apply for.
Let’s talk about some cards that will up your chances of being approved.
If your score is in the 600s and you were turned down for Discover it, you might want to try something like the Capital One QuickSilverOne card. This card is a little bit easier to qualify for. It’s also slightly easier to qualify for than Discover it and Chase Freedom.
In fact, we think the QuicksilverOne card is the best cash back rewards card available to consumers with fair or limited credit. So you may want to check it out today.