Suggestions for a new Credit Card

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Nikhil
 
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Suggestions for a new Credit Card

Postby Nikhil » Fri Oct 03, 2014 11:14 pm

My introductory 0% APR period for Discover card will be ending in October, I can pay the entire amount and thereby avoid the interest on my amount. I was thinking of closing the account with them and taking a new card of higher limit. Please suggest a good bank for card which will provide me with good services and offer me a higher limit.


MemberSince99
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Postby MemberSince99 » Sat Oct 04, 2014 12:44 pm

Pretty much anyone. We know nothing about you other than you have a Discover card so we have no idea what you are looking for other than a higher limit. So given that criteria, all you can really say is just about any lender. Good luck.

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Vattené
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Postby Vattené » Sat Oct 04, 2014 12:46 pm

Is a higher limit the only thing you are looking for out of a card? Have you tried requesting one with your Discover card?

There are no guarantees when applying for a new card. Even if an issuer has a reputation of giving high limits, it will be largely determined by your credit profile (and even then, sometimes it can appear to be a crapshoot). If the credit limit is your biggest priority, I would guess you'd haver better luck growing with Discover than applying for a completely new card and hoping, assuming approval, they give you a higher limit than you currently have.
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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lobbythis
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Postby lobbythis » Sat Oct 04, 2014 4:38 pm

I wouldn't cancel that Discover either. Apply for a higher limit with them. If it gets decline or is too small, call their recon/executive offices.

That's what I had to do with CapitalOne to get anywhere. Their auto-CLI stuff is nonsense, so I made a call and they gave me much higher limits.

daniel2304
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Postby daniel2304 » Sat Oct 04, 2014 11:31 pm

If you continue the pattern "canceling after the introductory promotion", you will end up with a card with an awesome limit equal to what you have in your checking account.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

MemberSince99
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Postby MemberSince99 » Sun Oct 05, 2014 5:35 am

It seems a few are assuming things. He says the intro period is expiring so that means he's has and hopefully used the card and possibly still has a toy limit.


Discover is one of two lenders (Capital One being the other) that I've heard call themselves "conservative" with a certain amount of pride. Roughly translated, that means don't be too shocked by a toy limit that grows slowly if ever.


Personally Discover was always my lowest limit card and it never grew, kind of like Cap One in that regard I guess, though the customer service is outstanding and the rewards are great as well. So I'm not at all surprised when others don't seem to have success getting limits that are competitive with other lenders or that meet their own needs. That's the biggest reason I don't have Discover today.


I would say go for a CLI with them but don't take a hard pull - I have read more failures than success stories when people go this route. If they don't want your business, then take it elsewhere if you can, and if someone else gives you a better limit use that card and just save Discover for the 5% categories. With any luck over many years it may grow, hope springs eternal.

hockeyplayr
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Postby hockeyplayr » Sun Oct 05, 2014 9:22 am

Request an increase on your discover card. They bumped me up from 5k to 9k with a soft pull and the rep said it was based on my history with them. So if you made timely payments they probably love you.
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|



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