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Frequent Contributor
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Registered: ‎12-31-2013
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Discover IT

Some of you may or may not know, but I was recently approved for an IT card, $500 limit.  Is it worth trying for more, right off the bat or just dealing with what I have and letting it grow.  I wanted to try to take advantage of BT but the $500 won't cover.

 

Thanks!!

 

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Re: Discover IT

It wouldn't hurt to call and let them know what you were looking to do and see how they respond.  It's safe to say it'll be a pleasant call regardless of the outcome.  They're easy to talk to/deal with IME.  If they tell you it'll take another HP, that will be up to you.  Otherwise, you may just want to let it grow with you.  You won't know unless you call so I would personally pick up the phone.  Smiley Happy

 

Good luck and let us know how it goes if you call.  

 

 


FICO SCORES: TU 769; EX 790; EQ 790 ***Gardening indefinitely***



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Re: Discover IT

Thank you. 

 

I meant to ask also....Is there a difference between the regular and student version?  I app'd for the student version and they wanted school verification.  But they also wanted me to call which I did, and they just wanted to verify my name and address, and approved me over the phone with no verification.  The rep just said, "congratulations your approved for the Discover IT", or something to that effect.

 

I assume since the starting limit is low that my score along with the fact that I app'd for the student version is the reason?

 

Thanks again!!

Valued Contributor
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Re: Discover IT

Student IT has shorter intro APR. Regular IT is14 months but Student IT is only 6 months. Not much difference. Still offers same benefits.

As of 2017, rebuilding...
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Re: Discover IT

I would certainly think the student version CL's would be a bit lower than their regular card based on the overall avg student income alone.  I thought I remembered reading where they have a portal to upload docs to prove you're a student but I could be wrong.  Others may know better than myself in that regard.

 

It sounds like they had you call specifically to verify identity which is common these days with many lenders.  If you don't mind my asking, how much of a balance are you looking to transfer?  How far off is the $500 from how much you need?  


FICO SCORES: TU 769; EX 790; EQ 790 ***Gardening indefinitely***



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Re: Discover IT


axledobe wrote:

I would certainly think the student version CL's would be a bit lower than their regular card based on the overall avg student income alone.  I thought I remembered reading where they have a portal to upload docs to prove you're a student but I could be wrong.  Others may know better than myself in that regard.

 

It sounds like they had you call specifically to verify identity which is common these days with many lenders.  If you don't mind my asking, how much of a balance are you looking to transfer?  How far off is the $500 from how much you need?  


I would have wanted to transfer close to $1000.   I called and they said my limit was $500, I can transfer up to 95% of the limit.  Told them what I wanted an increase for, they understood and were great but basically said no without explicitly saying NO.  Gave me the good ole - They periodically review the account to give limit increases if eligible, and after 3 months of good payment and account history I can request an increase.

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Re: Discover IT

I'm glad the call went well for you although I wish you could have gotten a little more.  If I were you, I would transfer $350 just so you have a little breathing room on the card and not completely max it out from the start and really dig in to pay it off as quickly as you can (and even make multiple payments per month if you want).  Carrying a balance is not a bad thing with Discover IMO.  If you treat it right, I have a feeling in 90 days they may show you some luv with the limit.  Obviously this is just a recommendation and ultimately it's your decision with your finances but that might be a good place to start.  

 

Good luck.  It'll grow.  It may take some time, but it will definitely grow.  I got a $500 increase in my anniversary month with mine.  Woah, right?  Then 3 months later they doubled the entire limit with a SP.  

 

Enjoy your new card.  Smiley Happy


FICO SCORES: TU 769; EX 790; EQ 790 ***Gardening indefinitely***



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Registered: ‎12-31-2013
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Re: Discover IT

Thanks, I may do half like 250 pay it off within a month to month and a half.  Then do more. 

 

When you got the first increase did you initiate?  I know they do HP increases and such, but would want to try and avoid that if possible.  I was just so in shock I got it LOL.  Scores are 644 EX, 606 EQ, 631 TU (recently joined 600 club Smiley Happy.   All of those are FICO scores btw Smiley Happy.  I am so excited about the free FICO too LOL, I think I am just as excited about that as I am the approval.

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Re: Discover IT


Eyisila wrote:

Thanks, I may do half like 250 pay it off within a month to month and a half.  Then do more. 

 

When you got the first increase did you initiate?  I know they do HP increases and such, but would want to try and avoid that if possible.  I was just so in shock I got it LOL.  Scores are 644 EX, 606 EQ, 631 TU (recently joined 600 club Smiley Happy.   All of those are FICO scores btw Smiley Happy.  I am so excited about the free FICO too LOL, I think I am just as excited about that as I am the approval.


The $500 was auto luv. The doubling was me calling in and asking for an increase with a SP. One minute later, it was doubled. No HP. 

 

I think you have a great plan. Good luck and let us know how it goes!  Also, major congrats on your journey and approval. You're heading in the right direction. 

 

 


FICO SCORES: TU 769; EX 790; EQ 790 ***Gardening indefinitely***



Frequent Contributor
Posts: 255
Registered: ‎12-31-2013
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Re: Discover IT

Thank you for the kind words and encouragement.

 

Without people like you and everyone else on these forums, this definitely wouldn't have been possible.

 

I will keep all updated as I progress through this journey to rebuild, repair and grow Smiley Happy

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