tempted to apply for Discover More...should I

[Anonymous]

I just received a preapproved offer from Discover for the More Card and been thinking about applying since I received the letter. I applied last year about this time when I went on my application spree; through there website; and was decline. For the past few years i have been cleaning up credit from when I was young and dumb but really want this card even if it is a low limit to get my foot in the door. I do have two old Capital One accounts that I paid off through a settlement agreement with them that are scheduled to fall off all three credit reports at the end of this year or early next year. Should I wait?

BTW Equifax has already removed one of the Capital One accounts throught disputes

(FAKO) scores through truecredit EX 650 (23 inquires) EQ 744 (3 inquires) , TU 681 (3 inquires)  

Most of the inquires are at the 1 year mark or about to fall off,  I hate that everyone pull experian

BOA $3500 CL

CHASE WAMU  $1461 CL,  combined most of cl with Chase freedom account orginal limit was $3,000

CHASE FREEDOM $8040 CL, combined circuit city and wamu accounts into this card

CITI $11,000 CL

HOOTERS $1400 CL 

GMAC CAR LOAN  REMAINING BALANCE $10,600

Message Edited by newbeeneedadvise on 05-09-2009 12:42 PM

Message Edited by newbeeneedadvise on 05-09-2009 12:52 PM

[Anonymous]

I went ahead and submited my application after thinking about it for a while and got an instant approval.  Called to get my credit limit and was told I was approved for $7500.  This is my highest starting limit ever now I just need an AMEX and I will be complete.   

[Itsmeagain]

Congrats . . . sounds like you're doing something RIGHT!!

[athensguy]

Congratulations. That's a high starting CL for Discover.

You might want to reconsider Amex, though. Their cardholders have been having a hard time.

Which benefits from Amex were making you consider one of their cards?

[Anonymous]

Or go with a Bank issued Amex.

[Anonymous]

Nice starting CL...CONGRATS.............

[Anonymous]

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@Anonymous wrote:
I went ahead and submited my application after thinking about it for a while and got an instant approval.  Called to get my credit limit and was told I was approved for $7500.  This is my highest starting limit ever now I just need an AMEX and I will be complete.   

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Nice CL!  They only approved me for $2k.  But I had a couple inquiries and new account, so I think they are pretty sensitive to those things.

[Anonymous]

I have read copious comments in my short time viewing this board and one theme that appears to be consistent is one of negative opinions from current AMEX customers.

While there will always be exceptions, I echo "athensguy".

After reading how AMEX treats their customers with an EXCELLENT payment history, I declined to accept their offer.

I do like my Discover more card. 

[Anonymous]

I was looking to apply for the Amex Blue Cash or Clear because those do not have an annual fee that I am aware of. I don't have any plans on applying until the 2 Capital One accounts are removed and the inquires on experian fall off.  I don't really need the Amex for any specific reason other then to have at least one card from each credit issuer (Visa, Mastercard, Discover, and Amex).  From the research I have done those appear to be the best cards to get from Amex other then a bank or store issued Amex (ex. BOA, Dillards).  Any thoughts because you guys rock.

Message Edited by newbeeneedadvise on 05-10-2009 10:05 AM

[CHARGE_IT]

Newbe,

I have the Clear and Blue among five accounts with AMEX. I recommend the Blue over the two you mention and you should pay a small extra fee to get the Membership Rewards instead of the Express Rewards. Btw; Don't take the criticism of any bank here too seriously. You may notice that a lot of people criticize banks with which they have no accounts or have had unfortunate experience. There are CITI HATERS, BOA HATERS, CHASE HATERS, AMEX and so on. You should remember that there are plenty of people who are more than happy with these banks and therefore have no reason to post comments. Bad press always gets more print but distorts the facts. There are people on here that think some of these banks have no more customers left which is hardly true.

I think you should wait until the Cap one stuff is gone before you app for AMEX. I believe based on my experience you will get a good deal with Blue based on the limit you have with Discover. The two banks watch each other well and like to share customers.

Continued good luck. (btw, there are people who would have told you not to app for Discover)

CI

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@Anonymous wrote:
I was looking to apply for the Amex Blue Cash or Clear because those do not have an annual fee that I am aware of. I don't have any plans on applying until the 2 Capital One accounts are removed and the inquires on experian fall off.  I don't really need the Amex for any specific reason other then to have at least one card from each credit issuer (Visa, Mastercard, Discover, and Amex).  From the research I have done those appear to be the best cards to get from Amex other then a bank or store issued Amex (ex. BOA, Dillards).  Any thoughts because you guys rock.

Message Edited by newbeeneedadvise on 05-10-2009 10:05 AM

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