topic Re: Which to Pick- Discover IT vs Discover IT Chrome ? in Credit Cards

Which to Pick- Discover IT vs Discover IT Chrome ?

Anonymous — Wed, 11 Oct 2017 18:39:24 GMT

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.

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

Anonymous — Wed, 11 Oct 2017 18:53:02 GMT

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.

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

wasCB14 — Wed, 11 Oct 2017 19:03:12 GMT

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).

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

Anonymous — Wed, 11 Oct 2017 20:05:16 GMT

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

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

Anonymous — Wed, 11 Oct 2017 20:21:20 GMT

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.

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

Anonymous — Wed, 11 Oct 2017 22:32:50 GMT

@Anonymous 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.

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

Anonymous — Thu, 12 Oct 2017 03:26:19 GMT

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?

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

morgacj2004 — Thu, 12 Oct 2017 05:27:19 GMT

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.

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

Anonymous — Thu, 12 Oct 2017 05:55:05 GMT

@Anonymous 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.

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

Anonymous — Thu, 12 Oct 2017 16:45:16 GMT

@Anonymous 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.

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

Anonymous — Thu, 12 Oct 2017 16:59:10 GMT

Thanks . I bit the bullet and applied via their preapproval. I was approved for $1500! Not a huge SL but my foot is in the door . The APR is very high at 23.99, but I have no intention of leaving a balance on it so that is not a huge issue.

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

601flyguy — Thu, 12 Oct 2017 17:47:33 GMT

Same SL i started with. It should grow with time. My CL doubled within 5 months. After the first 60 days, i received a $500 cli every 30 days until recently... Seems i have reached my limit with them for the time being.

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

Anonymous — Thu, 12 Oct 2017 18:18:54 GMT

I thought you couldn't get your first disco cli until 90days? Making me feel tempted to hit the button.

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

601flyguy — Fri, 13 Oct 2017 01:30:19 GMT

I took a closer look and i received my first cli at 2.5 months, after my 3rd statement.

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

Anonymous — Fri, 13 Oct 2017 16:24:58 GMT

I got Discover IT and happened to be Amazon category time in the first year. Bought a new $1,500 laptop (I was already planning on). $150 back oni one of my first purhases. I also dine out a lot and got 10% back on everything I ate 1 quarter. No brainer for me.