Got an offer, not sure if I should apply...

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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creddit
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Got an offer, not sure if I should apply...

Postby creddit » Fri Jun 07, 2013 6:49 pm

I've been getting offers from Discover since I got my first credit card with BoA back in 2009. I've never applied, but now that I'm looking to increase my credit line and improve my credit, I'm seriously considering it. Just got another offer in the mail for the Discover It.

The thing is that I also have a Citi Forward card on which I recently (this past week) requested a credit line increase after being "pre-approved" through the Citi Cards site. I was declined - they pulled from Experian.

I've been lurking around here for a while, and consensus seems to be to wait for a few months in between credit inquiries. Still, I'd love to get the Discover It, especially since I'm moving soon into my first apartment.

Should I pull the trigger on it now, or wait until the Citi Forward inquiry drops from my credit report? When would that be - 6 months from now, or longer? Also, should I do an "app spree" on a bunch of different cards when I do eventually apply, or should I target the Discover It for the time being?

My stats, in case you're wondering:

- 22, just graduated from college
- starting income of $12,000 + assistance from family
- BoA Visa (opened 2009) with $1,000 limit, Citi Forward (opened 2010) with $800 limit
- 0-20% utilization on both (actually, I literally just paid the Forward off completely yesterday)
- CK score: 728 (as of June 4); CreditSesame: 731 (as of June 5); Quizzle: 712 (as of May 17)


catsartcox
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Postby catsartcox » Sat Jun 08, 2013 1:08 pm

First - you got a inquiry from asking for a Credit line increase? yeah? If they did indeed do a hard inquire for a increase I would call them back now and ask to speak to the Credit line increase Dept. Since the site did say you were pre-aproved. Most of the time after talking to a 2nd-level rep you can get them to do something for you. It would be a shame for a hard inquiry to go to waste. Even with your score...odd that they said no.

Discover from what I seen seems to be pretty easy on accepting people. Seeing your scores you should have no problem.
I would call them tough. Apply over the phone. Doing it that way is more personal and can yield better results.

Also, If you just-just graduated and still have a transcript from the last year. You can probably swing a student IT card. As a last resort, cause those, as long as your a student, are a sure fire.

yep..
Wells Fargo w/ Points - 6.2k
Discover More - 10k
Citi Forward - 3.7k
Citi Thank You Preferred - 18.5k
AMEX Blue - 16.4k
AMEX PRG- NPSL
Barclay Juniper card/Apple - 9k
GE Capital Amazon Store Card 5k

score
722(7/13) 732(8/13) 734(9/13) 743(2/14) 763(07/14) 798(3/15) 749(4/16)

MemberSince99
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Postby MemberSince99 » Sat Jun 08, 2013 1:12 pm

Do NOT do an app spree. You really have a couple of cards already that should suit your needs, adding another is probably a good idea, but not 5 or 10 more.

Discover will probably approve you. I would give it a shot you might be surprised. I would go for that and see what happens before doing anything else. I think you have good odds if they are contacting you asking you to app.

And by the way those scores are not FICO scores, your "real" FICO scores might differ, and it might differ a lot. Just an FYI.

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t528491
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Postby t528491 » Sat Jun 08, 2013 7:35 pm

I'm almost positive they'll approve you. They approved me with only 5 months of history for a $1500 limit.
Now, getting a CLI, that's another story...
[size=80]
02/12 Authorized user on Chase Freedom ($5000)
08/12 Discover It ($1500)
08/12 American Express Zync (NPSL)
12/12 NFL Visa ($500)[/size]

[size=60]Future cards:
Citi Forward for Students 6/13
American Express Blue Cash Everyday 1/14
Sallie Mae World Mastercard 2014
Chase Freedom 2014
Penfed Platinum Rewards Card 2015[/size]

creddit
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Postby creddit » Sat Jun 08, 2013 8:29 pm

Thanks everyone for your thoughts! I should add that I was shopping at Macys today for luggage with my parents, and they encouraged me to apply for a Macys store card (not the AmEx, just the regular store card). I did so and was approved - albeit for an $800 limit. Not sure if that changes the game a bit.

I'm going to take your advice, catsartcox, and call Citi. If it won't hurt me any further, I guess it's worth a try. Otherwise, I'll hold off on the Discover for now, especially since I just got the Macys card. I don't want there to be too many inquiries in a short period of time.

catsartcox
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Postby catsartcox » Wed Jun 19, 2013 1:15 pm

How did it work out?
Wells Fargo w/ Points - 6.2k
Discover More - 10k
Citi Forward - 3.7k
Citi Thank You Preferred - 18.5k
AMEX Blue - 16.4k
AMEX PRG- NPSL
Barclay Juniper card/Apple - 9k
GE Capital Amazon Store Card 5k

score
722(7/13) 732(8/13) 734(9/13) 743(2/14) 763(07/14) 798(3/15) 749(4/16)

creddit
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Postby creddit » Sat Jun 29, 2013 11:35 pm

catsartcox wrote:How did it work out?


Sorry for the long delay - been busy! I actually just applied today and was approved! The other day I also upgraded my Bank Americard to a non-annual-fee rewards card, so I'd say things are working out well. :-D

MemberSince99
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Postby MemberSince99 » Sat Jun 29, 2013 11:47 pm

Congrats +1!!!!

hockeyplayr
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Postby hockeyplayr » Sun Jun 30, 2013 12:10 am

congrats! limit?
Credit Scores: Equifax - 736 (October Fico) | Experian 726 (October Fico) | TU - 758 (October Fico)

Credit Lines: Diners Club 20k | Citi DC 9.1k | SDFCU 5k | Penfed 7k | Amex BCE - 10.5k | Chase Marriot - 5.2k | CSP - 6.5k |Discover IT - 9k | Sallie Mae 3.8k | Citi TYP - 3.5k | BOA 123 - 4.9k | Total Rewards 3.25k|

catsartcox
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Postby catsartcox » Sun Jun 30, 2013 1:13 am

i am glad! yay!
Wells Fargo w/ Points - 6.2k
Discover More - 10k
Citi Forward - 3.7k
Citi Thank You Preferred - 18.5k
AMEX Blue - 16.4k
AMEX PRG- NPSL
Barclay Juniper card/Apple - 9k
GE Capital Amazon Store Card 5k

score
722(7/13) 732(8/13) 734(9/13) 743(2/14) 763(07/14) 798(3/15) 749(4/16)



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