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Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
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Re: Suggestions for a Balance Transfer Card with My Scores?


creditwherecreditisdue wrote:

DI wrote:

Discover is the last bank your want to app with if there are late payments reporting on your credit report.  


I was approved for Discover More with a high ($8.1K) CL with 13 reporting lates.


But did you get the card at prime or subprime rate?

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Suggestions for a Balance Transfer Card with My Scores?


DI wrote:

creditwherecreditisdue wrote:

DI wrote:

Discover is the last bank your want to app with if there are late payments reporting on your credit report.  


I was approved for Discover More with a high ($8.1K) CL with 13 reporting lates.


But did you get the card at prime or subprime rate?


One percent above the lowest rate possible for a new account at the time (the rate listed for excellent credit) and within the excellent credit APR range. After the intro interest rate period my APR was lowered to one percent below the lowest interest rate available for a new account. The APR is now exactly equal to the lowest rate for a new account - after I successfully recon'ed a modest RJ attempt. This is as prime as you can get with DIscover unless they have allowed you to continue to retain a legacy APR, i.e. haven't gotten around to "adjusting" your account APR yet. There still are a few of those around, but not many.

 

BTW - That's a very large CL for a Discover approval. Would it make sense that they issued me an $8.1K CL on a new account at a subprime rate?

 

I don't do subprime rates. I also don't revolved balances, except for a small residual balance on a closed Providian -> WaMu -> Chase account I carry for strategic purposes and two BT's: a small one at 0% for nine months and a larger one at 2.99% for life. Everything else reports zero and has for months.

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