topic Re: Discover - keep it or cut it? in Credit Cards

Discover - keep it or cut it?

disdreamin — Tue, 06 Jan 2015 00:48:53 GMT

I called and spoke to a representative about my Discover account - after have community members here recommend the It card and doing some reading up, it seemed like a good card to use for my everyday spending. However, the credit limit I have with them is quite low and has never gone up in the ~5 years I've had the account open. I am disinclined to begin using that card as - given the way revolvers work - it is quite possible for me to exceed my credit limit if I were to run too many expenses through the card and schedule my payment close to the due date (which is my typical MO).

I inquired about a SP CLI to 2x my current CL and was offered a fraction (~30%) of what I asked for. I declined the offer. At this point, I am quite tempted to just drop Discover entirely. I don't want to have a card in my wallet that I have to be overly careful with, and I'm not sure I have the patience to use the card lightly while waiting for Discover to decide I'm 'worthy' (in the trustworthy sense) of a higher CL.

FWIW, I tend to be a one-card-at-a-time person (okay, I have two I use right now, but one is mostly for auto-pays and seldom gets used otherwise) and I don't particularly want to juggle different cards for different spending categories. Discover is my lowest CL by far (except for Target...that's lower, but given that I only use it at Target that one is real easy to keep in bounds for CL) - my next lowest CL is approximately 4x and the other few I have are higher still . AAoA is showing as 20+ years, good FICO scores, no baddies, no new credit cards in the past ~3 years, one new auto loan last month, and a mortgage refi ~2 years ago.

Am I being unreasonable to think that CLI was too conservative? What would you suggest doing?

Re: Discover - keep it or cut it?

Luscher — Tue, 06 Jan 2015 00:57:11 GMT

Keep it, it has no af and free FICO score. (when you use it that cycle)

Re: Discover - keep it or cut it?

-Wade- — Tue, 06 Jan 2015 00:58:27 GMT

@Luscher wrote:
Keep it, it has no af and free FICO score. (when you use it that cycle)

+1 Keep it for sure.

Re: Discover - keep it or cut it?

Anonymous — Tue, 06 Jan 2015 01:00:55 GMT

@Luscher wrote:
Keep it, it has no af and free FICO score. (when you use it that cycle)

+1 Discover is a bit conservative with CL's but sometimes they are known to be unexpectively be generous.

Re: Discover - keep it or cut it?

mongstradamus — Tue, 06 Jan 2015 01:02:12 GMT

@Anonymous wrote:
@Luscher wrote:
Keep it, it has no af and free FICO score. (when you use it that cycle)
+1 Discover is a bit conservative with CL's but if sometimes, they are known to be unexpectively be generous.

it took me an quite an while to finally get some sp cli from discover, even though my tu score was hovering around 800. Took nearly ten months, so i am not sure why after five years there hasn't been any progress.

Shopdiscover or discover deals or whatever they call it now is an pretty good feature for discover cards. You can get some nice discounts if you do some online shopping. It also has no FTF which is another nice feature.

Re: Discover - keep it or cut it?

taxi818 — Tue, 06 Jan 2015 01:06:08 GMT

Well if you have had it 5 years. it is for sure not the it card. probably. the Discover more. i say. get rid of it an reapply for the it card. maybe they will let you upgrade. which will take it to the next level you are looking for. good luck

Re: Discover - keep it or cut it?

-Wade- — Tue, 06 Jan 2015 01:08:51 GMT

@taxi818 wrote:
Well if you have had it 5 years. it is for sure not the it card. probably. the Discover more. i say. get rid of it an reapply for the it card. maybe they will let you upgrade. which will take it to the next level you are looking for. good luck

I would call and switch to the IT card and then ask for a CLI all in the same phone call

Re: Discover - keep it or cut it?

tcbofade — Tue, 06 Jan 2015 01:23:30 GMT

Frankly, I haven't been very impressed with Discover either.

As mentioned above, call and make sure you have the "IT" card, and explain that you need a larger credit line or you will close the account.

If they won't budge, close them. Their loss. It's difficult to remember, but it is NOT personal. It is NOT about YOU. For whatever reason, Discover doesn't want to issue a credit line increase on this account. If you are doing better elsewhere, let them go.

Good luck to you!

Re: Discover - keep it or cut it?

pannna — Tue, 06 Jan 2015 01:31:54 GMT

I had pretty great experience with Discover.

They were the first ones to give me cashback card. And also incresed my credit limit every 6-12 months. I had called them for some silly thing, and they even extended my 15 month 0% APR by another 12 months.

(I am student and they ask graduation details pretty frequently)

Re: Discover - keep it or cut it?

taxi818 — Tue, 06 Jan 2015 01:34:55 GMT

@pannna wrote:
I had pretty great experience with Discover.

They were the first ones to give me cashback card. And also incresed my credit limit every 6-12 months. I had called them for some silly thing, and they even extended my 15 month 0% APR by another 12 months.

(I am student and they ask graduation details pretty frequently)

yes. we agree. discover is a great card. but people that had the old Discover more did not get the same treatment as when the Discover it came out. this is what we are telling op. he had the card 5 years. Discover it came out in 2013. so best to upgrade or cancel and reapply for the it.

Re: Discover - keep it or cut it?

Anonymous — Tue, 06 Jan 2015 01:36:41 GMT

I like Discover I loved Oct-Dec 2014 5% on Online shopping and department store
good rotating categories

Re: Discover - keep it or cut it?

Anonymous — Tue, 06 Jan 2015 01:54:43 GMT

I can't use discover for everyday, as nobody in Seattle accepts it. But for online I use it for retailers, I've gotten 75 bucks back on cash back shop discover the few months I've had it. My CL is only 1.5k. So I can't get into too much trouble

Re: Discover - keep it or cut it?

Anonymous — Tue, 06 Jan 2015 02:28:08 GMT

@disdreamin wrote:
I called and spoke to a representative about my Discover account - after have community members here recommend the It card and doing some reading up, it seemed like a good card to use for my everyday spending. However, the credit limit I have with them is quite low and has never gone up in the ~5 years I've had the account open. I am disinclined to begin using that card as - given the way revolvers work - it is quite possible for me to exceed my credit limit if I were to run too many expenses through the card and schedule my payment close to the due date (which is my typical MO).

I inquired about a SP CLI to 2x my current CL and was offered a fraction (~30%) of what I asked for. I declined the offer. At this point, I am quite tempted to just drop Discover entirely. I don't want to have a card in my wallet that I have to be overly careful with, and I'm not sure I have the patience to use the card lightly while waiting for Discover to decide I'm 'worthy' (in the trustworthy sense) of a higher CL.

FWIW, I tend to be a one-card-at-a-time person (okay, I have two I use right now, but one is mostly for auto-pays and seldom gets used otherwise) and I don't particularly want to juggle different cards for different spending categories. Discover is my lowest CL by far (except for Target...that's lower, but given that I only use it at Target that one is real easy to keep in bounds for CL) - my next lowest CL is approximately 4x and the other few I have are higher still . AAoA is showing as 20+ years, good FICO scores, no baddies, no new credit cards in the past ~3 years, one new auto loan last month, and a mortgage refi ~2 years ago.

Am I being unreasonable to think that CLI was too conservative? What would you suggest doing?

Keep.

Re: Discover - keep it or cut it?

koalablue — Tue, 06 Jan 2015 13:26:39 GMT

Try to product change it to the It card. You might get your CLI. But keep keep the card either way. The Discover Deals are good and there's no AF. Helps your AAOA.

Re: Discover - keep it or cut it?

baller4life — Tue, 06 Jan 2015 13:39:24 GMT

Keep it. Discover can be useful and it will eventually grow......eventually

Re: Discover - keep it or cut it?

lg8302ch — Tue, 06 Jan 2015 13:56:51 GMT

I would recommend to keep the card and when you get the next CLI no matter how small it is - TAKE IT. My Discover limit did not move for 15 months and 6 months later at 18months had 4 x the starting limit. Once it start moving it can go fast ..just be patient !

Re: Discover - keep it or cut it?

taxi818 — Tue, 06 Jan 2015 13:59:40 GMT

I know you guys read that op,has had his card for 5 years already right. Still no movement.

Re: Discover - keep it or cut it?

chalupaman — Tue, 06 Jan 2015 14:01:21 GMT

PC it to the It, see if they can give you an increase that will actually get your account to match your higher limits and if not, either SD the card or dump it. Your choice if you wanna put up with that kind of thing, which it seems like you've already have for over 5 years now. I just SDed mine.

Re: Discover - keep it or cut it?

kdm31091 — Tue, 06 Jan 2015 14:01:10 GMT

5 years and no CLI is crazy. I'd call Discover and politely ask why. There must be some reason they are unwilling to extend you more credit. I love Discover, but if they aren't being good to you after that long for whatever reason, I wouldn't bother keeping it anymore. Move on.

Re: Discover - keep it or cut it?

lg8302ch — Tue, 06 Jan 2015 14:05:41 GMT

@taxi818 wrote:
I know you guys read that op,has had his card for 5 years already right. Still no movement.

Could be because it is still the Discover More?? PC to the IT and keep using the card and try every 3 months to CLI. But OP declined a CLI because it was only 30% of what he requested... bad move.. accept any amount and go from there 3 months later.