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Frequent Contributor
steve23111
Posts: 337
Registered: ‎08-09-2011

Any Reason Not to App for Discover?

I am looking to add another cash back card to my portfolio to maximize my earnings on everyday purchases.  Currently, my AMEX BCP is my daily spender.  I have examined my spending my know the $75 AF is worth it-- even with the fee I make about an extra $100 in cash back on an annual basis with my current spending vs. the standard BCE.

 

I am considering either a Discover or Chase Freedom for the 5% Cash Back.

 

I have a past BK, now totally off my reports, and a FICO over 800.  Discover was IIB in 2002 to the tune of $7000 IIRC.  I hear their memory starts to slip after about five years and see some reports of folks getting back in with them (AMEX had no problem letting me back in despite IIB them for $4500).

 

Chase was not IIB.

 

I really could go either way with one (or hell, both) of these cards for the 5% cash back categories, as they would compliment the BCP nicely.  I'm inclined to go Discover, but am wondering if I should be too concerned about having IIB'd them 10 years ago.  I'd hate to waste an inquiry on them.

5/2002 - Chapter 7
7/2011 - Equifax FICO 693
5/2012 - Equifax FICO 812! In the "800 Club!"
2/2013 - Lender-pulled FICO 821 (car loan)
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: Any Reason Not to App for Discover?

Check Discovers preapproval site. See what comes us. I would personally go for Chase. You get a full 1% on purchases that are. It in the rotation. It would also compliment your AMEX nicely as a Visa back up whereas I find Dicovers acceptance limited as well. Again I have both Discover is a fine card but doesn't seem to grow. I just think IMO that Chase would be a better fit and I can't even believe I'm saying this since chase is certainly not my favorite.
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Frequent Contributor
steve23111
Posts: 337
Registered: ‎08-09-2011

Re: Any Reason Not to App for Discover?

[ Edited ]

Thanks for the input.  I never had any problems with acceptance of Discover 10-12 years ago, but I have noticed the logo conspicuously absent from the front doors of many businesses lately.  It's been rare for me to come across a place that doesn't accept AMEX, but there seem to be large holes in Discover's footprint.

 

I have been checking the preapproval site and nothing ever comes up.

5/2002 - Chapter 7
7/2011 - Equifax FICO 693
5/2012 - Equifax FICO 812! In the "800 Club!"
2/2013 - Lender-pulled FICO 821 (car loan)
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: Any Reason Not to App for Discover?

I was suprised when I began using Discover for 5% at restaurants that a large handful would not accept Discover but when I asked if they take AMEX always yes. Strange since I haven't had a merchant that I use regularly turn down an AMEX seems to be more common for Discover at least in my neck of the woods.
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Frequent Contributor
steve23111
Posts: 337
Registered: ‎08-09-2011

Re: Any Reason Not to App for Discover?

I'd imagine that's something that varies from one locality to another.  I have come across a number of places that don't have AMEX displayed as an accepted payment type (only Visa & Mastercard) but when handed my AMEX they take it without hesitation.  I do always keep my BB&T Visa with me as backup, but it's never really been a problem.

5/2002 - Chapter 7
7/2011 - Equifax FICO 693
5/2012 - Equifax FICO 812! In the "800 Club!"
2/2013 - Lender-pulled FICO 821 (car loan)
Regular Contributor
cmthomas06
Posts: 174
Registered: ‎06-21-2012

Re: Any Reason Not to App for Discover?

I too have both cards and I tend to use my Freedom more often. If you have a Chase checking account you get even more points, so its a no brainer to use it more. I found, however, that Chase is really difficult to get CLI from. Discover started my with a much higher limit (2x that of Chase) and I also prefer Discover customer service way more than Chase. 

 

Both have their benefits, so just weigh the pros and cons for each and see what matters more to you. I will take more rewards over better customer service anyday - But I also tend to have a lot of patience

Ex 752 (Amex) Tu 758 (Walmart) Eq 703
Goal: 750+ on all
Current Cards: Cap1 Cash Back; Chase Freedom; Chase Amazon; Citi Thank You; Citi Forward; Discover iT; Amex Zync; GE WalMart; BoA 3-2-1
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: Any Reason Not to App for Discover?

Same here. I've handed AMEX to merchants that only have the Visa/MC logo on the door and they took my AMEX to my suprise. Even the smallest places that you just know would not take an AMEX. Very interesting.
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Regular Contributor
JollehRoger
Posts: 233
Registered: ‎06-05-2011

Re: Any Reason Not to App for Discover?


steve23111 wrote:

I'd imagine that's something that varies from one locality to another.  I have come across a number of places that don't have AMEX displayed as an accepted payment type (only Visa & Mastercard) but when handed my AMEX they take it without hesitation.  I do always keep my BB&T Visa with me as backup, but it's never really been a problem.


Around here a lot of places take Discover but AMEX is very spotty in terms of coverage. I plan to get an AMEX card eventually so I can have one card on each network just in case.


Scores: TU - 777 (Discover FICO - 1/31/2014), EQ - 716 (MyFico FICO - 12/1/2013)
Current Cards: NFCU cashRewards Siggy - 5k, Citi Dividend WE- 3.7k, Discover It - 5k, Amex BCE - 6.6k
In the garden for the near future.
Frequent Contributor
steve23111
Posts: 337
Registered: ‎08-09-2011

Re: Any Reason Not to App for Discover?


cmthomas06 wrote:

I too have both cards and I tend to use my Freedom more often. If you have a Chase checking account you get even more points, so its a no brainer to use it more. I found, however, that Chase is really difficult to get CLI from. Discover started my with a much higher limit (2x that of Chase) and I also prefer Discover customer service way more than Chase. 

 

Both have their benefits, so just weigh the pros and cons for each and see what matters more to you. I will take more rewards over better customer service anyday - But I also tend to have a lot of patience


I would consider that, but there are no Chase branches around here... possibly not anywhere in Virginia... so checking accounts are not an option.  I'm happy with BB&T.

 

I know Chase is tougher on CLI's and I am spoiled by the soft pull CLI's on my GE PayPal MC and AMEX cards.  All of my existing cards have decent limits, but not extraordinarly high, and I would hate to have one of these come back with a low CL and have to fight for a CLI.  If there's one thing this board has taught me, though, it's that there's always a recon! :smileyhappy:

 

My current cards are BB&T Visa Platinum $2500, AMEX BCP $4500, AMEX Clear $5000, AMEX Zync NPSL, GE PayPal MC $6000.  BB&T is about two years old, PayPal is about a year old, and the AMEX cards are backdated to 2000.

5/2002 - Chapter 7
7/2011 - Equifax FICO 693
5/2012 - Equifax FICO 812! In the "800 Club!"
2/2013 - Lender-pulled FICO 821 (car loan)
Valued Contributor
discernment
Posts: 1,142
Registered: ‎09-01-2011

Re: Any Reason Not to App for Discover?


steve23111 wrote:

 

I really could go either way with one (or hell, both) of these cards for the 5% cash back categories, as they would compliment the BCP nicely.


Go for both!  I have the Amex BCP, the Discover and the Chase Freedom.  With the Chase Freedom, I also have checking with Chase so, I'm also getting the rewards of their 10--10 plan.   Between these 3 cards, the Rewards are VERY nice.  Also, I live in Southern California and I have NO problem finding merchants who accept Discover or American Express -- I have NEVER had either one rejected anywhere.  Interestingly, sometimes the Discover logo is NOT on the front door --- BUT, the merchant accepts the card anyway.  I've found this to be true at 4 or 5 different restaurants, as well as the movies, and, the stores that I shop in at the mall. 

 

I say go for both! 



Husband's Current Score: EX 691 CUSC; EQ 694; TU 687; Mine: EX 773 (AMEX); EQ 720; TU 750
Wallet Contents: SECURED: Capital One Platinum Mastercard, US Bank Harley Davidson Visa, USAA Bank American Express;
UNSECURED: Chase Freedom; USAA Cash Rewards World Mastercard, Discover More, CUSC Platinum Rewards Visa, American Express Zinc, American Express Blue Cash Preferred, Amazon Card, Walmart Discover Card

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