IT at full 1%

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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MemberSince99
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Postby MemberSince99 » Mon Dec 03, 2012 7:21 pm

You know that is cool that you are an analyst. Have you noticed, in your work, that companies such as Discover seem to REALLY like some consumers, and others they don't?

Case in point - Citi HATES me. Flat out rejected every app (none for a while as I gave up on them) usually for pretty dumb reasons (like I don't carry a balance). Yet US Bank gives me cards with big limits and auto clis on top of that. They must have certain patterns they look for, and every company seems different in their criteria of what they want to see. I suspect this because based simply on credit score and existing lines and limits, it doesn't make sense. Barclays gave me a 2k Mastercard, when even Discover gave me 4.5k to start and we know how conservative Discover is, and that's with me having a 14k US Bank Cash +. I called them to recon this, was told NO WAY would they give me more, they have to see how I handle their card first. I was like you gotta be kidding me, I have 2 cards over 10k one of which I've had for a year now. They weren't kidding. Well let's put it this way - with a 2k limit, it probably won't be my "go to" card anytime soon in terms of handling it.

So that's just my theory is there anything to it, or am I maybe delusional about that?


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djrez4
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Postby djrez4 » Mon Dec 03, 2012 8:05 pm

You may be delusional, but not about that. Discover gave me a $16k limit when I was in the mid-600s and had nothing but a $1500 WFNNB Trek card. Amex gave me a $2k limit on Friday with much higher scores and more robust history.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
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sticf
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Postby sticf » Mon Dec 17, 2012 1:12 pm

irvine801 wrote:I just heard at work that it will be a full 1% cashback with no tier beginning 2013.... Just a rumor but I seriously hope its true!


As far as I can tell they pulled the trigger on this today. Here are the updated T&Cs....
"REWARDS: We will send full terms and conditions with your card. Each quarterly 5% program has a cap on category purchases and you must sign up for each program. The amount of the cap may change. 5% category purchases over the quarterly cap, and all other purchases, earn a full 1% cash back. Click here to see the current 5% program details. "

I was just in chat to get my card converted. They are shipping a new card with the full details on the Rewards Program. However, my account coverts over after the end of this billing cycle.

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Postby FutureBillionaire » Mon Dec 17, 2012 1:36 pm

sticf wrote:As far as I can tell they pulled the trigger on this today. Here are the updated T&Cs....
"REWARDS: We will send full terms and conditions with your card. Each quarterly 5% program has a cap on category purchases and you must sign up for each program. The amount of the cap may change. 5% category purchases over the quarterly cap, and all other purchases, earn a full 1% cash back. Click here to see the current 5% program details. "

I was just in chat to get my card converted. They are shipping a new card with the full details on the Rewards Program. However, my account coverts over after the end of this billing cycle.



That's sweet. I like it.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

432521
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Postby 432521 » Mon Dec 17, 2012 10:56 pm

I did live chat with discover and got this

I do have one more question, I have been hearing that discover is changing the IT cashback to a standard 1% on everything instead of the old tierd system you guys use now. Is that true?
Chris: Yes you are correct. It changed yesterday, 12/16/2012, so everything you purchase will be at 1%.

so its at a full 1% now, right now chase is getting competition from discover because my freaking chase limit is so low and now my discover is on par with my freedom
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

FutureBillionaire
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Postby FutureBillionaire » Tue Dec 18, 2012 3:46 pm

432521 wrote:I did live chat with discover and got this

I do have one more question, I have been hearing that discover is changing the IT cashback to a standard 1% on everything instead of the old tierd system you guys use now. Is that true?
Chris: Yes you are correct. It changed yesterday, 12/16/2012, so everything you purchase will be at 1%.

so its at a full 1% now, right now chase is getting competition from discover because my freaking chase limit is so low and now my discover is on par with my freedom


I've been singing the praises of discover before this. I believe that it definitely beats the Freedom now.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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djrez4
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Postby djrez4 » Tue Dec 18, 2012 5:03 pm

I just converted my More today.

The only reason IT doesn't beat the Freedom for me is the CSP transfer option. I can get way more than one penny per point that way.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

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sticf
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Postby sticf » Wed Dec 19, 2012 5:33 am

FutureBillionaire wrote:I've been singing the praises of discover before this. I believe that it definitely beats the Freedom now.


They are on par with each other but It vs. Freedom comes down to Discover vs. Visa. Visa is still the most popular card with merchants (esp outside the US). I have no problem with either card, but I cannot call a clear winner for either.

Ratfacedudeguy
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Postby Ratfacedudeguy » Wed Dec 19, 2012 12:00 pm

Another thing to consider when comparing the two cards is their rewards malls. From my comparison, I've found that Shop Discover gives a higher return than the Ultimate Rewards mall for just about any merchant I've found. Discover also gives much better redemption value for gift cards as well. In that case I'd still give the It an edge.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

FutureBillionaire
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Postby FutureBillionaire » Wed Dec 19, 2012 1:13 pm

Ratfacedudeguy wrote:Another thing to consider when comparing the two cards is their rewards malls. From my comparison, I've found that Shop Discover gives a higher return than the Ultimate Rewards mall for just about any merchant I've found. Discover also gives much better redemption value for gift cards as well. In that case I'd still give the It an edge.


Ditto. IT wins when you consider all the amenities. The acceptance issue isn't a problem as much online, either.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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