Discover It approved first card

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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takeshi
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Postby takeshi » Thu Jul 17, 2014 8:52 am

ChristianLFonts wrote:So I recently just turned 18 and I had just applied for a Discover It card.I just got my card in yesterday with a no credit history they gave me a CL of $500 I don't know whether that is a good starting limit or not.

Context matters with words like "good". As indicated above for someone starting out with no history it's good. For a person with an established credit history it would not be good.

ChristianLFonts wrote:I have read that I don't want to use more then 33% of my balance so does that mean that I want to restrain myself from using more then $165?

You don't want reported utilization to exceed 30%. It will difficult to use less than 33% of your balance (especially if your balance is 0 since it's a new account). Utilization = balance / limit.

Reported utilization can be adjusted by paying prior to statement end.


ChristianLFonts
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Postby ChristianLFonts » Wed Jul 23, 2014 2:42 pm

Terry wrote:You can charge more than 500.00 per month provided that pay off your charges several times each month. That would demonstrate that you are responsible and after a few months that action will help you with credit line increases. At least that is what I discovered in my early credit days.


I will give this a try only since I know for sure I have all the money in my checking to pay it off I am currently going over about $600-700 on my card today. I have a $50 hold that will be off soon and $60 refunded and the rest I will pay off in a day or two.

Also should I pay it before the end of the month of should I pay it off before Aug 11 as that is when my billing cycle starts , and just asking but I will definitely pay off it not all most of it before the end of this month should I pay it before Sept 11 as that is when my first payment is due?

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otter
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Postby otter » Mon Jul 28, 2014 8:47 pm

MemberSince99 wrote:Thank you for calling Capital One a conservative lender, this is Pradesh I mean George speaking may I please know your first and last name?


Thank you for asking Mr. Membersince99. No we cannot give you a credit limit increase on your 20 year old $200 Capital One account, even though you have never missed a payment. As you say we are a conservative lender. We would like to offer you insurance on your account for only $20 a month in case you become disabled and unable to pay. So you can pay $240 a year to protect your $200 account...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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nismoZtuner
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Postby nismoZtuner » Tue Jul 29, 2014 1:10 am

otter wrote:Thank you for asking Mr. Membersince99. No we cannot give you a credit limit increase on your 20 year old $200 Capital One account, even though you have never missed a payment. As you say we are a conservative lender. We would like to offer you insurance on your account for only $20 a month in case you become disabled and unable to pay. So you can pay $240 a year to protect your $200 account...



How do I get this deal as well it sounds too good to pass!
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

Jeeders
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Postby Jeeders » Sun Aug 10, 2014 9:56 am

otter wrote:Thank you for asking Mr. Membersince99. No we cannot give you a credit limit increase on your 20 year old $200 Capital One account, even though you have never missed a payment. As you say we are a conservative lender. We would like to offer you insurance on your account for only $20 a month in case you become disabled and unable to pay. So you can pay $240 a year to protect your $200 account...



LOL... Get the protection
Discover It 1.5k
Capital One QuickSilver 1.45k
Marriott Rewards Premier 5k

MemberSince99
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Postby MemberSince99 » Sun Aug 10, 2014 12:48 pm

otter wrote:Thank you for asking Mr. Membersince99. No we cannot give you a credit limit increase on your 20 year old $200 Capital One account, even though you have never missed a payment. As you say we are a conservative lender. We would like to offer you insurance on your account for only $20 a month in case you become disabled and unable to pay. So you can pay $240 a year to protect your $200 account...




Will those payments take 2 weeks to restore my available credit just like when I make payments online or by phone now? Or can I actually use the card more than once a month if this happens?



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