- Centurion Member
- Posts: 532
- Joined: Thu Jan 17, 2013 7:20 pm
- Location: United States
OK, I finally heard from Discover today. The bottom line is that they won't help me because of the strict policy surrounding the Discover IT product. Basically they won't consider a credit limit change for 6 months and a interest rate change for the first year, even though this very same company sent me a better offer three weeks after I signed up for the Discover IT. They do have some flexibility on the older Discover More product, but not the Discover IT.
Needless to say, this flies in the face of Discover's vaunted customer service. There needs to be some flexibility in the policy for situations like this, but I imagine no one thought something like this would happen. Ironically I was encouraged to apply again using the new offer and perhaps I would see the rate of 12.99% I was looking for. Apparently you are allowed to own more than one Discover card. I still think this is silly, but I suppose it's a possible way out.
Since my app spree last month, my credit scores have begun to recover (I applied for the Discover on a day my FICOs were fairly depressed). My Equifax FAKO began at 755 and dropped as low as 719 before rebounding to 735. I expect it to increase again when my balance transfer away from BofA finally are reported. Next month I intended to purchase a new computer with the Discover card. At that time, I may use the offer to see if I get a better deal from Discover. If I do (and I'm also looking for a better CL than just $2500), then I can cancel the old card and go forward. The downside is yet another hard pull on Equifax.
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)