topic Re: Discover it, Amex Everyday or both? in Credit Card Applications

Discover it, Amex Everyday or both?

Anonymous — Tue, 14 Apr 2015 17:46:55 GMT

Looking at applying for one or both of these cards in the next couple weeks so I can transfer some or all of the balance from my BoA Cash Rewards. Its promo 0% ends in June on the card and needles to say, I was stupid and am trying to fix things. Been doing well on that front with paying things down and just got increases on both of my current cards but I think I can help things along. The game plan is to apply for one or both of these cards on the same day, balance transfer and then lock the cards up until the balances are paid off. Once that is done, I am left with good rewards cards so I'm looking at the "short term" in terms of balance reduction and the "long term" of me using these cards in the future (why I ruled out the Chase Slate; good for the balance transfer but no long terms benefits)

Current scores from myFICO:

EQ 673
TU 672
EX 667

PS - I know there are two different Discover it offers, a 0% 14 month and a 0% 18 month, would I more easily be able to get one over the other?

Re: Discover it, Amex Everyday or both?

TRC_WA — Tue, 14 Apr 2015 18:14:29 GMT

I got in with Discover in December with scores similar to yours.

If you don't qualify for one offer they will offer you the other or will offer you something else... like no 0% offer which is what they did for me. I didn't care, I just wanted in the door.

Re: Discover it, Amex Everyday or both?

greenfield1 — Tue, 14 Apr 2015 18:14:08 GMT

What's your AAoA? I applied for the Amex Everyday when it first came out and by that point I had the Discover It and Amex Green for a couple of months each, but was denied due to lack of history. The Discover It is far easier to get than the Amex Everyday.

Re: Discover it, Amex Everyday or both?

Anonymous — Tue, 14 Apr 2015 18:22:16 GMT

TU AAoA - 3 years
EQ & EX - 10 months

Good to know about the Discover it.

Re: Discover it, Amex Everyday or both?

Jerry45 — Tue, 14 Apr 2015 20:08:41 GMT

Go with Discover

Re: Discover it, Amex Everyday or both?

DeeBee78 — Tue, 14 Apr 2015 20:23:47 GMT

How about neither?

The best balance transfer card out there is the Chase Sapphire Preferred. 15 months at 0%, and a 0% fee. No one can touch it right now.

Re: Discover it, Amex Everyday or both?

Anonymous — Tue, 14 Apr 2015 20:29:39 GMT

@DeeBee78 wrote:
How about neither?

The best balance transfer card out there is the Chase Sapphire Preferred. 15 months at 0%, and a 0% fee. No one can touch it right now.

I think you mean the chase slate card. The CSP has no introductory offers that I know of.

Re: Discover it, Amex Everyday or both?

Anonymous — Tue, 14 Apr 2015 20:30:05 GMT

It looks like Discover will be the winner. IvI'vee been eyeing the card for a whilewile.

@DeeBee78 definitely not. It comes with a $95 AF after the first year and that is a giant no from me for that fact alone. I also don't put enough through cards a month to benefit from that card either

Re: Discover it, Amex Everyday or both?

DeeBee78 — Tue, 14 Apr 2015 20:35:27 GMT

Bah, I totally meant Slate!

Re: Discover it, Amex Everyday or both?

DeeBee78 — Tue, 14 Apr 2015 20:36:36 GMT

@Anonymous wrote:
It looks like Discover will be the winner. IvI'vee been eyeing the card for a whilewile.

@DeeBee78 definitely not. It comes with a $95 AF after the first year and that is a giant no from me for that fact alone. I also don't put enough through cards a month to benefit from that card either

Sorry I meant Chase Slate! 0% for 15 months, 0% BT fee, no annual fee.

You can also check the Chase pre-qualifer to see if it shows up in your recommended cards. That way you don't waste a hard pull applying for it.

Re: Discover it, Amex Everyday or both?

Anonymous — Tue, 14 Apr 2015 20:41:34 GMT

No problem. As in my OP, I rilruleded out the Slate for its long term potential. Granted I could probably PC to something else later but I'm very on the fence about Chase. The max I'd be charged for fees would be $40 if I transferred the wwholehile balance but mostly looking to transfer about 50% (so pretty much skip a night out) I have awesome customer service experience with Discover (student loan with them) and others are positively recommending them so they're edging out right now.

Re: Discover it, Amex Everyday or both?

SecretAzure — Tue, 14 Apr 2015 20:43:59 GMT

@Anonymous wrote:
TU AAoA - 3 years
EQ & EX - 10 months

Good to know about the Discover it.

How does this even happen? Don't things report to all 3?

Re: Discover it, Amex Everyday or both?

DeeBee78 — Tue, 14 Apr 2015 20:45:00 GMT

@Anonymous wrote:
No problem. As in my OP, I rilruleded out the Slate for its long term potential. Granted I could probably PC to something else later but I'm very on the fence about Chase. The max I'd be charged for fees would be $40 if I transferred the wwholehile balance but mostly looking to transfer about 50% (so pretty much skip a night out) I have awesome customer service experience with Discover (student loan with them) and others are positively recommending them so they're edging out right now.

Gotcha. Yeah, other than the awesome BT, the Slate is a somewhat useless card.

However, what you can do is app the Freedom down the road, transfer the Slate's credit line to it, and close it.

Or just get the Freedom outright, if you're not opposed to BT fees. It has the same 0% for 15 months that the Slate does.

Just a couple of thoughts...

Re: Discover it, Amex Everyday or both?

bigbang91 — Tue, 14 Apr 2015 21:15:33 GMT

Amex everyday if you value travel redemption

Re: Discover it, Amex Everyday or both?

kdm31091 — Tue, 14 Apr 2015 21:21:58 GMT

Honestly they are not comparable cards and are for completely different purposes (and spending patterns/lifestyles), so it's hard to say. It's not really a good comparison to make.

Discover is going to be better if you like cash back and can make use of their categories (typically throughout the year including some mix of gas, movies, restaurants, home improvement, online shopping, maybe a couple more) and are OK getting 1% back on your other purchases (or have another general spend card). I find Discover's categories useful, but it depends on what you spend money on. I will say that compared to their usual "rival" card, Freedom, Discover tends to have broader categories i.e. home improvement and online shopping vs just Lowe's and Amazon w the Freedom.

Amex Everyday is primarily geared as a general spend card for people who are going to travel. You can redeem the points for cash but it's a terrible redemption value and if you're doing that you may as well get a cash back card, you will get better value from that. If you travel and want to use the points for transfers, it's a good card but you do have to hit a decent amount of transactions (I believe 20) to get the "bonus" points each month.

In short, two totally different cards. You could get both, if your goals and spending fit in with that. Good luck!