Close Discover IT?

[Repo-ed]

Guys, I always wanted a card from Discover, and they were nice enough to grant me the IT card last Jan w/ a 1k CL (so you know I was on the bubble)....

Well a year has gone by w/ perfect pmt history $0 balance, now reporting.

They just gave me an annual account review and auto-CLI of $200 for a total of $1200.

My question is: Should I close it?

My other major cards are either NPSL or at least 5k up to 13kCL

Thoughts?

[chalupaman]

Charge $1.99 a month to keep it active and they'll give you a statement credit to pay it down to 0. Free Amazon gift cards every month if you look at it that way.

If you're not interested in doing that, SD it all the way until it collects dust and cobwebs. They might even give you a CLI without even using it. If you don't wanna do that, close the thing completely. Do whatever you think will work best for you personally.

[juggalo9er]

other will highly disagree but i say close it if it will not grow.

setting my dislike of discover aside, i closed lowes because it never grew from its 500 limit.

[chalupaman]

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@juggalo9er wrote:

other will highly disagree but i say close it if it will not grow.

setting my dislike of discover aside, i closed lowes because it never grew from its 500 limit.

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That's strange. I never even used my Lowes card much and I was able to get the limit up to $17k after asking for $25k though of course it's closed now for various reasons. I really thought it was a card that you could get a big limit on without having to do much of anything for it provided you have decent scores and stuff. Did you have that card in the past somehow?

[Anonymous]

Do you use the rotating categories?

[juggalo9er]

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@chalupaman wrote:

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@juggalo9er wrote:

other will highly disagree but i say close it if it will not grow.

setting my dislike of discover aside, i closed lowes because it never grew from its 500 limit.

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That's strange. I never even used my Lowes card much and I was able to get the limit up to $17k after asking for $25k though of course it's closed now for various reasons. I really thought it was a card that you could get a big limit on without having to do much of anything for it provided you have decent scores and stuff. Did you have that card in the past somehow?

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i applied for it right after i closed on my home.....never went over 500, closest line was 3k

[L-TWT]

keep it open

some food for thought: I recently opened my Discover It card 01/2015 and was approved with a CL of 30K. I hear discover card is very conservative with regards to CL and CLI, but If I was given this CL anything is possible!

[NRB525]

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@Anonymous wrote:
Do you use the rotating categories?

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+1

OP are you aware that your Discover card is (or rather is not) getting 5% cash back on gasoline during this quarter?

$1,000 may not seem like a large limit, but with gas prices the way they are, it's only $30 - $60 for a fill up depending on your vehicle. 5% cash back is not beatable by any other card, so I have my Discover in my wallet this quarter for that purpose.

[NRB525]

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@L-TWT wrote:

keep it open

some food for thought: I recently opened my Discover It card 01/2015 and was approved with a CL of 30K. I hear discover card is very conservative with regards to CL and CLI, but If I was given this CL anything is possible!

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Congratulations! That is truly a stratospheric Discover limit.

What is the rest of your credit profile? MyFICO scores, other cards you already have?

[Anonymous]

If you have a TU HP to burn and your scores have improved, Consider requesting another CLI.