So Discover wants me to sign up for a 2nd IT card LOL

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
kdm31091
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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby kdm31091 » Thu Nov 26, 2015 5:53 am

4ktvs wrote:
takeshi wrote:
4ktvs wrote:I think Discover just doesn't know what is going on at all. That or maybe they do want me to have two of them. :confused:

It's just marketing.

If your credit supports a lower APR you can request an APR reduction.

4ktvs wrote:I don't plan to apply for a second one as that would be stupid. I don't really mind I missed the boat on a lower APR

It's not a matter of boats or offers but what you qualify for.


I know it's just business and not a matter of a boat or offers but what they see at the moment when you apply and they pull your credit. (I know your income counts as well.)

I thought it was just marketing being marketing but I wasn't sure.

I am not going to stress about APR though and will leave that alone I think.


Assuming you qualify and meet their criteria, Discover is amenable to lowering APR upon request over time. I've had my Discover for 4 years and it has gone from I believe 19.99% to 15%. Not huge but certainly a drop. They are only willing to drop it once every six months however. Right now, they gave me a 0% promo that lasts until July, after which point I plan to ask for another permanent reduction.


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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby 4ktvs » Fri Nov 27, 2015 9:20 pm

kdm31091 wrote:
Assuming you qualify and meet their criteria, Discover is amenable to lowering APR upon request over time. I've had my Discover for 4 years and it has gone from I believe 19.99% to 15%. Not huge but certainly a drop. They are only willing to drop it once every six months however. Right now, they gave me a 0% promo that lasts until July, after which point I plan to ask for another permanent reduction.


I don't think I would qualify right now. It would have been nice to get %14.99 or lower APR right off the bat but I doubt it was really what my credit profile supports right now.

I just hit the citi site to see if they might want to offer a double cash card and I got a fixed %22.99 APR after the %0 ended. I will likely do as you suggested when my %0 percent ends as I would love to "fail" at a permanent reduction and get a %0 promo. :)

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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby kdm31091 » Sat Nov 28, 2015 9:34 am

4ktvs wrote:
kdm31091 wrote:
Assuming you qualify and meet their criteria, Discover is amenable to lowering APR upon request over time. I've had my Discover for 4 years and it has gone from I believe 19.99% to 15%. Not huge but certainly a drop. They are only willing to drop it once every six months however. Right now, they gave me a 0% promo that lasts until July, after which point I plan to ask for another permanent reduction.


I don't think I would qualify right now. It would have been nice to get %14.99 or lower APR right off the bat but I doubt it was really what my credit profile supports right now.

I just hit the citi site to see if they might want to offer a double cash card and I got a fixed %22.99 APR after the %0 ended. I will likely do as you suggested when my %0 percent ends as I would love to "fail" at a permanent reduction and get a %0 promo. :)


Just a warning on the double cash -- it tends to have low starting limits and the 22.99% APR is even more indicative that you are basically a borderline approval. Many people who got the 22.99% preapproval ended up with 1k or 2k limits. To each their own but to me, a 1k limit on a "general spend" card is basically as useless as having been declined in the first place.

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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby 4ktvs » Sat Nov 28, 2015 11:30 am

kdm31091 wrote:
4ktvs wrote:
kdm31091 wrote:
Assuming you qualify and meet their criteria, Discover is amenable to lowering APR upon request over time. I've had my Discover for 4 years and it has gone from I believe 19.99% to 15%. Not huge but certainly a drop. They are only willing to drop it once every six months however. Right now, they gave me a 0% promo that lasts until July, after which point I plan to ask for another permanent reduction.


I don't think I would qualify right now. It would have been nice to get %14.99 or lower APR right off the bat but I doubt it was really what my credit profile supports right now.

I just hit the citi site to see if they might want to offer a double cash card and I got a fixed %22.99 APR after the %0 ended. I will likely do as you suggested when my %0 percent ends as I would love to "fail" at a permanent reduction and get a %0 promo. :)


Just a warning on the double cash -- it tends to have low starting limits and the 22.99% APR is even more indicative that you are basically a borderline approval. Many people who got the 22.99% preapproval ended up with 1k or 2k limits. To each their own but to me, a 1k limit on a "general spend" card is basically as useless as having been declined in the first place.


I didn't plan on applying for it, I just wondered what APR range other issuers would give me. I plan on waiting a year or more before applying for the double cash. A 1k limit would be a slap in the face to me now. Though I under stand there stance on my credit profile and I am happy with my profile of cards as is right now. I know very well that citi tends to hand toy like limits with it and that was why I was kind of bummed out I had missed out on the Bucksback card. But now I am glad I didn't apply for it so sometimes things work out for the better.

Out of the two cards I want the citi double cash is more on the back burner where as the US bank cash+ is something I want but I know it's best to wait on that one from what I have read.

Thanks for the heads up on the double cash though, I will remember the red flag on the APR late next year or 2017 if I apply for it. I am sure folks on MyFico would be screaming for me to app now for it but that isn't how I roll.

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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby Tubpbs » Sat Nov 28, 2015 11:46 am

I don't particularly agree with the 1K limit being a slap in the face or not worth having the card.

Not that I would want that as a starting limit on any card, but it depends heavily on your long term goals if its worth the approval or not.

If you intend to grow your relationship with the lender, it really does not matter that much. Citi, I'm certain, is not planning on keeping established card members at a 1K limit. They intend to grow the relationship after they're no longer uncertain about what will happen with the account.

Again, I'd be pretty upset with a 1K limit, but I would much rather get approved for that than get a denial.

Just me maybe...
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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby kdm31091 » Sat Nov 28, 2015 2:48 pm

Tubpbs wrote:I don't particularly agree with the 1K limit being a slap in the face or not worth having the card.

Not that I would want that as a starting limit on any card, but it depends heavily on your long term goals if its worth the approval or not.

If you intend to grow your relationship with the lender, it really does not matter that much. Citi, I'm certain, is not planning on keeping established card members at a 1K limit. They intend to grow the relationship after they're no longer uncertain about what will happen with the account.

Again, I'd be pretty upset with a 1K limit, but I would much rather get approved for that than get a denial.

Just me maybe...


It's true, and if you're willing to take a second HP, Citi will often raise the starting limit. If not, down the road 6 months, many people (but not all) qualify for a SP CLI. So it's not like Chase where basically what you get approved for tends to be where you are stuck for good. Citi is willing to do CLIs over time. The Double Cash is certainly a worthwhile card. I find the 1+1 structure a bit annoying as it basically takes two statements to get your full rewards (unless you PIF before the cut, but I'm not into micromanaging like that), but you still do get 2% no everything.

Since 2% is considered to be not really profitable, it's not surprising they are stingy with the limits. If you're in it for the long haul, it doesn't really matter as much.

Agree also that myfico would be telling OP to apply now, but I'd wait until the prequalified APR drops below 22.99% as you have a better chance of at least a semi-reasonable limit.

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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby Tubpbs » Sat Nov 28, 2015 5:52 pm

kdm31091 wrote:
Tubpbs wrote:I don't particularly agree with the 1K limit being a slap in the face or not worth having the card.

Not that I would want that as a starting limit on any card, but it depends heavily on your long term goals if its worth the approval or not.

If you intend to grow your relationship with the lender, it really does not matter that much. Citi, I'm certain, is not planning on keeping established card members at a 1K limit. They intend to grow the relationship after they're no longer uncertain about what will happen with the account.

Again, I'd be pretty upset with a 1K limit, but I would much rather get approved for that than get a denial.

Just me maybe...


It's true, and if you're willing to take a second HP, Citi will often raise the starting limit. If not, down the road 6 months, many people (but not all) qualify for a SP CLI. So it's not like Chase where basically what you get approved for tends to be where you are stuck for good. Citi is willing to do CLIs over time. The Double Cash is certainly a worthwhile card. I find the 1+1 structure a bit annoying as it basically takes two statements to get your full rewards (unless you PIF before the cut, but I'm not into micromanaging like that), but you still do get 2% no everything.

Since 2% is considered to be not really profitable, it's not surprising they are stingy with the limits. If you're in it for the long haul, it doesn't really matter as much.

Agree also that myfico would be telling OP to apply now, but I'd wait until the prequalified APR drops below 22.99% as you have a better chance of at least a semi-reasonable limit.



I would agree that waiting is the better option and the OP doesn't seem to be in a rush which is good for several reasons. Patience is key. Time is important. Knowing your limits (not credit limits) is very important. Long term planning and thinking are both very important as well.
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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby 4ktvs » Sun Nov 29, 2015 2:29 pm

kdm31091 wrote:
Tubpbs wrote:I don't particularly agree with the 1K limit being a slap in the face or not worth having the card.

Not that I would want that as a starting limit on any card, but it depends heavily on your long term goals if its worth the approval or not.

If you intend to grow your relationship with the lender, it really does not matter that much. Citi, I'm certain, is not planning on keeping established card members at a 1K limit. They intend to grow the relationship after they're no longer uncertain about what will happen with the account.

Again, I'd be pretty upset with a 1K limit, but I would much rather get approved for that than get a denial.

Just me maybe...


It's true, and if you're willing to take a second HP, Citi will often raise the starting limit. If not, down the road 6 months, many people (but not all) qualify for a SP CLI. So it's not like Chase where basically what you get approved for tends to be where you are stuck for good. Citi is willing to do CLIs over time. The Double Cash is certainly a worthwhile card. I find the 1+1 structure a bit annoying as it basically takes two statements to get your full rewards (unless you PIF before the cut, but I'm not into micromanaging like that), but you still do get 2% no everything.

Since 2% is considered to be not really profitable, it's not surprising they are stingy with the limits. If you're in it for the long haul, it doesn't really matter as much.

Agree also that myfico would be telling OP to apply now, but I'd wait until the prequalified APR drops below 22.99% as you have a better chance of at least a semi-reasonable limit.


I think the Double cash is a great card and I do want one. I just would like better terms than I would mostly get right now. Like the nearly toy limit they would likely grant and then I would have to fight my way to just maybe get a CLI out of them. That just isn't something I am interested in, I would chose waiting at lest a year for what will hopefully be a starting limit I could work with then get suck with one I would have to work around until they if they so chose gave me a CLI to a level that is okay.

I will remember Citi can do a SP CLI after the account has been open 6 months or more. I had thought that they did HP CLI only but I am glad to know there is a chance of a SP CLI so if I did apply later like late 2016 or at some point in 2017 that I had a chance of getting a CLI if I wasn't happy with it without a HP.

As a side note I don't plan on ever having a Chase issued card co-branded or not so I won't have to worry about the fact they give you what your stuck with forever. I view them as a high risk of default on their end of the contract so I don't wish to approve that risk into my credit profile.
Last edited by 4ktvs on Sun Nov 29, 2015 8:11 pm, edited 1 time in total.

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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby Tubpbs » Sun Nov 29, 2015 5:45 pm

As a side note I don't plan on ever having a Chase issued card co-branded or not so I won't have to worry about the fact they give you what your stuck with forever. I view them as a high risk of default on their end of the contract so I don't wish to approve that risk into my credit profile.


Is the above intended to mean you think Chase is going to default as a bank?
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Re: So Discover wants me to sign up for a 2nd IT card LOL

Postby 4ktvs » Mon Nov 30, 2015 10:08 pm

Tubpbs wrote:As a side note I don't plan on ever having a Chase issued card co-branded or not so I won't have to worry about the fact they give you what your stuck with forever. I view them as a high risk of default on their end of the contract so I don't wish to approve that risk into my credit profile.


Is the above intended to mean you think Chase is going to default as a bank?


No I don't think they are going to default as a bank, I just don't want to deal with a toxic sub prime lender like them. I shall not pay a monthly account fee on a credit card just because I avoid paying interest via paying in full on time before the due date. The terms they have listed avoid the fact they add what ever kind of fee they feel like and then tell customers it's because you don't carry a balance that pays them interest.

All the above is saying is I plan to avoid Chase issued credit cards that's all.



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