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American Express v. Discover

Frequent Contributor

American Express v. Discover

Ah, I dont know if this myfico forum is a blessing or curse?? I research so much I seem to have even more questions!

 

 

Ok here is my current credit profile:

 

Chase Freedom 3.7k

Capital One CW (no AF) 3k

Dillard's American Express 1.5k

 

 

The freedom is my oldest and Capital One is the newest. I have had two additional cards with Chase in the past that I have closed.  I am on the fence about Chase.  Apparently, after much research my Dillards is still considered a store card. I would like to add ONE more card without dragging down my AAOA and would like to get a great CL to make a desirable CR when I graduate and decide to open a mortgage.

 

This long winded story now brings you to my question.  Which is a better card with better rewards American Express or Discover?  I have recently received a Discover IT offer in the mail.  I noticed a discussion on here stating that lenders pay attention to issuers of cards.  Which is more highly favored or prestigious between American Express and Discover?  Who is harder to obtain and who is more generous with CLs?

 

So many questions. This brain of mine is always turning.

Message 1 of 33
32 REPLIES
Super Contributor

Re: American Express v. Discover


LawStudentCivilis wrote:

This long winded story now brings you to my question.  Which is a better card with better rewards American Express or Discover?  


Discover is better with non-grocery cash rewards, especially if redeeming for GCs.

 

Amex is better for travel related rewards and every other way imaginable.  If you're starting out, go with Amex.  There's no need to have a Discover early, since they'll be there later and likely not change in the next 50 or 100 years.

Message 2 of 33
Moderator Emerita

Re: American Express v. Discover

*1 to Open

I would add if you don't want the charge, app for the revolver.
Message 3 of 33
Frequent Contributor

Re: American Express v. Discover

Thanks! That was a nice summary. I'm sorry but what does the abbreviation GC stand for?  My next thread will be about travel and redemption. Sigh, I thought I was a pro, but definitely an amateur when it comes to learning about cards and how to utilize their programs.

Message 4 of 33
Frequent Contributor

Re: American Express v. Discover


09Lexie wrote:
*1 to Open

I would add if you don't want the charge, app for the revolver.

Do you mean if I don't want a charge card? I would much rather a CL

Message 5 of 33
Super Contributor

Re: American Express v. Discover


LawStudentCivilis wrote:

Thanks! That was a nice summary. I'm sorry but what does the abbreviation GC stand for?  


Sorry, Gift Card!  Sometimes, I get carried away with the acronyms.  Smiley Happy

 

 

Message 6 of 33
Frequent Contributor

Re: American Express v. Discover


Open123 wrote:

LawStudentCivilis wrote:

Thanks! That was a nice summary. I'm sorry but what does the abbreviation GC stand for?  


Sorry, Gift Card!  Sometimes, I get carried away with the acronyms.  Smiley Happy

 

 


Thanks! I am learning a lot.  I wonder if AMEX has a generous 0% APR intro like Discover?

Message 7 of 33
Super Contributor

Re: American Express v. Discover


LawStudentCivilis wrote:

Thanks! I am learning a lot.  I wonder if AMEX has a generous 0% APR intro like Discover?


They do have 0% promo rates, but only for 12 months and *only* on certain cards.  SPGs and full MR program cards will never have the 0% promos, except for the MB which is set to 6 months.

Message 8 of 33
Frequent Contributor

Re: American Express v. Discover

 

Smiley Happy Your acronyms have once again escaped me. 

 

You are nonethless invaluable to my credit's future.

Message 9 of 33
Super Contributor

Re: American Express v. Discover


LawStudentCivilis wrote:

 

Smiley Happy Your acronyms have once again escaped me. 

 

You are nonethless invaluable to my credit's future.


LOL...sorry!

 

SPG = Starwood Preferred Guest

MR = Membership Rewards Program

MB = Mercedes Benze

 

You just get used to the aconyms after a while.  Smiley Happy

 

Message 10 of 33