Reply
Frequent Contributor
Posts: 311
Registered: ‎06-14-2013
0

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.

Senior Contributor
Posts: 4,690
Registered: ‎02-23-2011
0

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.

Moderator
Posts: 27,206
Registered: ‎09-13-2012
0

Re: American Express v. Discover

*1 to Open

I would add if you don't want the charge, app for the revolver.
Frequent Contributor
Posts: 311
Registered: ‎06-14-2013
0

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.

Frequent Contributor
Posts: 311
Registered: ‎06-14-2013
0

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

Senior Contributor
Posts: 4,690
Registered: ‎02-23-2011
0

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.  :smileyhappy:

 

 

Frequent Contributor
Posts: 311
Registered: ‎06-14-2013
0

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.  :smileyhappy:

 

 


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

Senior Contributor
Posts: 4,690
Registered: ‎02-23-2011
0

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.

Frequent Contributor
Posts: 311
Registered: ‎06-14-2013
0

Re: American Express v. Discover

 

:smileyhappy: Your acronyms have once again escaped me. 

 

You are nonethless invaluable to my credit's future.

Senior Contributor
Posts: 4,690
Registered: ‎02-23-2011
0

Re: American Express v. Discover


LawStudentCivilis wrote:

 

:smileyhappy: 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.  :smileyhappy:

 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.