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Which to Pick- Discover IT vs Discover IT Chrome ?

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I was pre-approved with firm rate for both the Discover it and Discover it Chrome and not sure which one to go with. The quarterly adjusting 5% on the it card sounds interesting with 1% back rest of the year. But also find the 2% all year on Food/Gas, with no quarterly adjustments, for the it Chrome to be catching my eye. Should I also expect same Initial limits and CL increases between both types of cards? Would appreciate any opinions on which way to go with my selection of it vs it Chrome.


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Re: Which to Pick- Discover IT vs Discover IT Chrome ?

My guess would be that the cards have similar if not the same underwriting & that you could expect similar starting lines. I would suggest the rotating categories on the IT card over chrome for the following reasons: the card is likely to include 5% gas & food at some point in the year, the cashback match effectively makes all category spend 10% vs a flat 2% for gas/food, if the current category isn't gas or dining you will still get 2% on them with match, and lastly if you're spending enough to max out $1500 a quarter on gas and dining alone there are far far better cards to optimize your rewards.
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Re: Which to Pick- Discover IT vs Discover IT Chrome ?

Last I heard, Discover let people switch back and forth pretty smoothly.

 

I have a lot of good cards and personally favor a card that can occasionally give 5% over a card that couldn't exceed 2% (after the first year or any promos).

Perks, purchase protection, and sketchy merchants: Schwab Platinum.....Price rewind and extended warranties: Costco.....Travel insurance: Prestige.....Renewal nights: IHG, Hyatt.....Rewards/Offers: Discover, Freedom, ED, BCE.....Taxes/Misc: SPG...Questioning the value of: CSP, Arrival

760ish FICOs...Rebucketing hurts!
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Re: Which to Pick- Discover IT vs Discover IT Chrome ?

Thanks for the replies! I went for the standard it card and was approved with a nice limit, which surprised me in my failry early rebuild


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Re: Which to Pick- Discover IT vs Discover IT Chrome ?

It's a good card if you buy gas or eat out.  2% + 2% cashback extra the first year = 4% on those categories.

 

Congrats!  Remember you can apply for the other card in 12 months and also earn another year long double cashback bonus on the second card.

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Re: Which to Pick- Discover IT vs Discover IT Chrome ?


ABCD2199 wrote:

It's a good card if you buy gas or eat out.  2% + 2% cashback extra the first year = 4% on those categories.

 

Congrats!  Remember you can apply for the other card in 12 months and also earn another year long double cashback bonus on the second card.


Thanks!  I wasnt aware could look at grabbing a second card from Discover at 12 month mark, I will keep that in mind.


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Re: Which to Pick- Discover IT vs Discover IT Chrome ?

I was preapproved for the same two cards with a fixed interest rate, but I was hesitant to accept as below it states that it is not a definite approval until they actually pull my credit. My FICO scores have improved to the 690/706 range (from about 630ish), but I still have a paid public record on my report and that was their excuse for turning me down a couple of months ago. Do you think if they say congratulations you are preapproved that I can feel pretty confident?
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Re: Which to Pick- Discover IT vs Discover IT Chrome ?

The quarterly adjusting 5% on the it card  is IMHO the best use. You can always get the 2% or better on food/gas using a different card. I use the NFCU Go rewards for restaurants and the PFCU cash rewards for gas and groceries.  

 

 

 

 


BC Ring 11.5K, BC Arrival+ 9.5k, BC AA Aviator 4K, AKUSA FCU -10k , Comenity Blue Nile 11k, Discover (2) 10k, Kohls-4k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 9.8k, BofA Secured $500, Synchrony Cathay Pacific Visa 6k, Synchrony E-bates Visa $2.4k, PFCU Plat Rewards Siggy 18k, PFCU Power Cash Rewards 21.5 k, NFCU Go Rewards 24k , NFCU Flagship 31.5k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $3250, Target 1k, BLIS PAY 5k, Pay Pal 1k, Synchrony Virgin America 6k,CO Venture 23k, 239k total available credit. Utiliz-2%, Current FICO EQ-707, EX 702,TU 715 Chapt 7 BK D/C 11-2012. Starting scores 520-550
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Re: Which to Pick- Discover IT vs Discover IT Chrome ?


SlightlyRemoved wrote:
My guess would be that the cards have similar if not the same underwriting & that you could expect similar starting lines. I would suggest the rotating categories on the IT card over chrome for the following reasons: the card is likely to include 5% gas & food at some point in the year, the cashback match effectively makes all category spend 10% vs a flat 2% for gas/food, if the current category isn't gas or dining you will still get 2% on them with match, and lastly if you're spending enough to max out $1500 a quarter on gas and dining alone there are far far better cards to optimize your rewards.

I find the 2% gas and restaurants student card is the easiest. I applied a few months ago and was denied for a DiscoverIt, but was approved a few weeks ago for the gas and restaurant card, which I'll PC to the regular IT anyways. 

Amazon Store Card - 3.7k / AMEX Ameriprise Platinum - NPSL / AMEX Blue Cash Preferred - 3k / AMEX Hilton Honors - 1.2K / Capital One Quicksilver - 15k / Chase Amazon Visa Signature - 3k / Citi ThankYou Premier - 5.6k / Citi AT&T 4.6k / Citi AAdvantage Platinum - 6.5k / Citi Simplicity - 4.6k / Empower MasterCard - 1k / USAA Limitless - 1k (previously 5k) / USAA Rate Advantage - 2k (previously 5k)
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Re: Which to Pick- Discover IT vs Discover IT Chrome ?


Chickadee1970 wrote:
I was preapproved for the same two cards with a fixed interest rate, but I was hesitant to accept as below it states that it is not a definite approval until they actually pull my credit. My FICO scores have improved to the 690/706 range (from about 630ish), but I still have a paid public record on my report and that was their excuse for turning me down a couple of months ago. Do you think if they say congratulations you are preapproved that I can feel pretty confident?

I am no way an expert on this but can tell you on the more generic pre approval form I had tried in the past too many times it always returned a large spread on the APR. From what I read on here multiple times that was a pretty safe sign of Not being a true pre approval, and to watch out for when see a single APR listed as a valid pre approval.  That seemed to work in my case yesterday, but again just relaying what I have seen on here and my experience. 


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