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SDing the Discover IT after today but not by choice!!

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eagles08
Regular Contributor

SDing the Discover IT after today but not by choice!!

Well out of all my new cards my Discover is probably my favorite and ive definitely used it the most! However I think its best to SD it for a while. Since I used to be a finance junkie, until I realized its impact on my credit, I racked up balances on most of my cards. Ive taken care of most of what I owe but I decided to go ahead and take advantage of the BT offer from Discover. To avoid any temptation of running up a higher balance and to just make things simple I think its best I SD the Discover until its allllll paid off. Plus it adds a nice incentive to get it done faster Smiley Happy

AMEX BCE- $12,600 I Discover IT- $10,000 I Chase Freedom- $7,000 I Citi Double Cash- $3,300 I Best Buy- $2,800 I Bayport CU Visa- $1,000
Message 1 of 10
9 REPLIES 9
myjourney
Super Contributor

Re: SDing the Discover IT after today but not by choice!!


@eagles08 wrote:

Well out of all my new cards my Discover is probably my favorite and ive definitely used it the most! However I think its best to SD it for a while. Since I used to be a finance junkie, until I realized its impact on my credit, I racked up balances on most of my cards. Ive taken care of most of what I owe but I decided to go ahead and take advantage of the BT offer from Discover. To avoid any temptation of running up a higher balance and to just make things simple I think its best I SD the Discover until its allllll paid off. Plus it adds a nice incentive to get it done faster Smiley Happy


If thats what works for you I say go for it!

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 10
asphaltcowboy
Valued Contributor

Re: SDing the Discover IT after today but not by choice!!


@myjourney wrote:

@eagles08 wrote:

Well out of all my new cards my Discover is probably my favorite and ive definitely used it the most! However I think its best to SD it for a while. Since I used to be a finance junkie, until I realized its impact on my credit, I racked up balances on most of my cards. Ive taken care of most of what I owe but I decided to go ahead and take advantage of the BT offer from Discover. To avoid any temptation of running up a higher balance and to just make things simple I think its best I SD the Discover until its allllll paid off. Plus it adds a nice incentive to get it done faster Smiley Happy


If thats what works for you I say go for it!


^^^^ +1


Starting Score TU 667 EQ 663 EX 655
Current Score TU 778 EQ 776 EX 781 Last Update 4/2016
Garden Club 04/10/2013
Message 3 of 10
09Lexie
Moderator Emerita

Re: SDing the Discover IT after today but not by choice!!

Message 4 of 10
LS2982
Mega Contributor

Re: SDing the Discover IT after today but not by choice!!


@eagles08 wrote:

Well out of all my new cards my Discover is probably my favorite and ive definitely used it the most! However I think its best to SD it for a while. Since I used to be a finance junkie, until I realized its impact on my credit, I racked up balances on most of my cards. Ive taken care of most of what I owe but I decided to go ahead and take advantage of the BT offer from Discover. To avoid any temptation of running up a higher balance and to just make things simple I think its best I SD the Discover until its allllll paid off. Plus it adds a nice incentive to get it done faster Smiley Happy


WTG on realizing holding the card can put you in debt Smiley Happy

 

Mime is in the SD but for othet reasons Smiley Sad




EQ FICO 548 3/3/16
Message 5 of 10
eagles08
Regular Contributor

Re: SDing the Discover IT after today but not by choice!!

Yeah!! I mean I should be ok but ill take advantage of my Freedom for cash back. Its just much easier to set a specific monthly payment on that one card instead of figuring up and ending up going backwards!!! I cant wait to see that thing at 0! Ill finally have no credit card debt! Its been a couple years since ive done that! Cant wait!!

AMEX BCE- $12,600 I Discover IT- $10,000 I Chase Freedom- $7,000 I Citi Double Cash- $3,300 I Best Buy- $2,800 I Bayport CU Visa- $1,000
Message 6 of 10
myjourney
Super Contributor

Re: SDing the Discover IT after today but not by choice!!


@eagles08 wrote:

Yeah!! I mean I should be ok but ill take advantage of my Freedom for cash back. Its just much easier to set a specific monthly payment on that one card instead of figuring up and ending up going backwards!!! I cant wait to see that thing at 0! Ill finally have no credit card debt! Its been a couple years since ive done that! Cant wait!!


The first step to getting out of debt is acknowledging it... Bravo

The second step is a plan of attack...WTG

The final result is a better financial picture

Keep up the good work

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 7 of 10
eagles08
Regular Contributor

Re: SDing the Discover IT after today but not by choice!!

Thanks for the encouragement everyone!!!
AMEX BCE- $12,600 I Discover IT- $10,000 I Chase Freedom- $7,000 I Citi Double Cash- $3,300 I Best Buy- $2,800 I Bayport CU Visa- $1,000
Message 8 of 10
BungalowMo
Senior Contributor

Re: SDing the Discover IT after today but not by choice!!

I am actually doing the same thing.  Got the card early April.  Found out my Stepdad was very ill 1 week later & put my plane ticket & my sisters' on my AMEX Blue.  Took trip...got home.  Did 0% (18 mo) BT from AMEX to Disc. IT card (for $50).  Total $1700.  Less than 1 week later, stepfather passed away & got another ticket for myself (sis lives in Hawaii...couldn't do 2 trips) back up to Michigan.  2nd leg of flight was delayed over & over.  Used D-IT to rent car & drive from Cleveland to Flint.

 

Long story short...Discover limit $3500.  Discover balance....$3273.  OUCH!

 

But...about $350 has 6 mos 0 interest & the rest has 18 mos.  Sis already gave me $800 of her $1200 flight.  I'm with you.  SD until PIF.

 

All told, this was a very smart move.  Discover gave me exactly what I needed before I even knew I needed it.  And their customer service was impeccable.  I'll ask for CLI after it's paid.

 

BK 7 discharge 06.24.2020 No Fico score at all. Smiley Sad
Message 9 of 10
eagles08
Regular Contributor

Re: SDing the Discover IT after today but not by choice!!

Oh wow that's crazy! Sorry to hear :/ things like that can definitely take a toll financially, but like others have said, good plan! Hope your future is well!
AMEX BCE- $12,600 I Discover IT- $10,000 I Chase Freedom- $7,000 I Citi Double Cash- $3,300 I Best Buy- $2,800 I Bayport CU Visa- $1,000
Message 10 of 10
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