topic Put spend on capital one or discover it? in Credit Cards

Put spend on capital one or discover it?

Anonymous — Sat, 10 Nov 2018 22:01:59 GMT

Sorry! Another question guys!

Im trying to get better credit and better credit limits on my 2 credit cards. I currently have a capital one platinum card with a limit of 300 enrolled in steps. Also i have a discover it with a limit of 500 in the mail.
Im not going to put anything on my cards thats not in the budget, but should i concentrate all my spending on the discover card since i get cash back match or should i put all the spend on my capital one that i can to get a good credit limit increase.
I will continue to charge something on the cards and pif as it posts to utilize the small limits. Thanks guysa

Re: Put spend on capital one or discover it?

Anonymous — Sat, 10 Nov 2018 22:12:02 GMT

Discover it - people are too affixated with clis imo. They don't really do anything for you, long term that capital one card is just to get your footing, while the discover is the one you will keep for regular spending. Why should now be any different? What's the point of a CLI for a card that doesn't really give you any tangible benefit to actually put spend on?

Re: Put spend on capital one or discover it?

Anonymous — Sat, 10 Nov 2018 22:16:50 GMT

I was going to PC to platinum to the QS at 6 months. But i deffintly see your point. Thanks!

Re: Put spend on capital one or discover it?

Anonymous — Sat, 10 Nov 2018 22:20:05 GMT

I would split purchases between the two cards.

A challenge with working through low limits is that even making prudent purchases may mean high account utilization.

Until you get limits higher it might make sense to pay bills well before they are due in order to lessen utilization reported.

If you know on what days those issuers report to credit bereaus, I would suggest making online payment a few days before those dates. If you really want to optimize, pay off one card completely before balance gets reported. Make very small purchases on the other card but pay in full by the due date making certain the payment gets made in time.

To maximize FICO score you want all cards reporting zero except one card reporting more than zero but less than 8.9 percent utilization.

You want to show spending on the cards so that the issuers can justify credit line increases but you also need to get your scores up.

Re: Put spend on capital one or discover it?

AverageJoesCredit — Sat, 10 Nov 2018 22:21:23 GMT

Discover for spend, C1 for a recurring monthly bill like Netflix maybe.

Re: Put spend on capital one or discover it?

CribDuchess — Sat, 10 Nov 2018 22:21:33 GMT

Discover gets my vote. It's 2% cash back for the first year (10% back on category spend). Congrats on your new Discover card! Don't worry about the $500 starting limit, it will grow. My son started with a limit of $1,000 and it's now at $5,500, all via soft-pull CLI requests.

Re: Put spend on capital one or discover it?

Anonymous — Sat, 10 Nov 2018 22:33:48 GMT

Ive been reading on the forums that capital one likes a ton to spend and they will reward you with a much higher limit, and discover likes smaller spend. Is there any truth to this?

Re: Put spend on capital one or discover it?

AverageJoesCredit — Sat, 10 Nov 2018 23:14:58 GMT

Cap One may like lots of spend, lol who doesn't? But you wont see huge growth on their starter cards. Id use it to advance your profile and move up their rank of better cards if you choose to continue with Capitol One. I can't get one but 3 hps for every card is too steep for my taste.

Re: Put spend on capital one or discover it?

Anonymous — Sun, 11 Nov 2018 00:30:58 GMT

Base your spending on maximizing rewards, let CLI chips fall where they may, don't lose sight on why you got CCs to begin with.

Re: Put spend on capital one or discover it?

AverageJoesCredit — Sun, 11 Nov 2018 00:48:49 GMT

Lol Oldman87, i didnt get cards just for rewards but to establish my credit but i hear ya. Best to get cards that give back then give nothing

Re: Put spend on capital one or discover it?

Anonymous — Sun, 11 Nov 2018 01:34:03 GMT

@AverageJoesCredit wrote:
Lol Oldman87, i didnt get cards just for rewards but to establish my credit but i hear ya. Best to get cards that give back then give nothing

Still doesn't change anything though, if you have a few useless no reward cards whose sole purpose is to beef up your credit profile, a token monthly reoccurring charge to keep it alive will suffice. Example, OP's CapOne Platinum.

Re: Put spend on capital one or discover it?

kilroy8 — Sun, 11 Nov 2018 02:09:59 GMT

That Cap One will not grow much. Agree with AJC and old man.

Re: Put spend on capital one or discover it?

KLEXH25 — Sun, 11 Nov 2018 03:17:53 GMT

I have those two exact cards and credit limits. I just put my Netflix on the Cap1 and pay it before it reports. The Discover is what I try to utilize more for the cash back. I keep it under 30% utilization though and PIF multiple times. Since I have a third card now with a higher limit, I don’t let Discover report either since I’m trying out AZEO.

Re: Put spend on capital one or discover it?

Brian_Earl_Spilner — Sun, 11 Nov 2018 03:30:24 GMT

@Anonymous wrote:
Base your spending on maximizing rewards, let CLI chips fall where they may, don't lose sight on why you got CCs to begin with.

To max them out with all my wants that I'm too impatient to save months for?

Re: Put spend on capital one or discover it?

Anonymous — Sun, 11 Nov 2018 03:40:54 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
Base your spending on maximizing rewards, let CLI chips fall where they may, don't lose sight on why you got CCs to begin with.
To max them out with all my wants that I'm too impatient to save months for?

Exactly, like purple interior lighting and 12" subs.

Re: Put spend on capital one or discover it?

Brian_Earl_Spilner — Sun, 11 Nov 2018 05:07:38 GMT

@Anonymous wrote:
@Brian_Earl_Spilner wrote:
@Anonymous wrote:
Base your spending on maximizing rewards, let CLI chips fall where they may, don't lose sight on why you got CCs to begin with.
To max them out with all my wants that I'm too impatient to save months for?
Exactly, like purple interior lighting and 12" subs.

O, I C what you did there. But the sub and amp were from my truck. The LEDs were $30, wiring kit was $50, and the L2Ci was $70...shoot. That's 30% of my discover limit. Why, oh why, didn't I have Amex then? I could have done a Plan It....

Re: Put spend on capital one or discover it?

AverageJoesCredit — Sun, 11 Nov 2018 13:07:56 GMT

@Anonymous wrote:
@Brian_Earl_Spilner wrote:
@Anonymous wrote:
Base your spending on maximizing rewards, let CLI chips fall where they may, don't lose sight on why you got CCs to begin with.
To max them out with all my wants that I'm too impatient to save months for?
Exactly, like purple interior lighting and 12" subs.

Who in their right mind would eat 12" subs underneath purple lighting while enjoying Purple Rain?

Re: Put spend on capital one or discover it?

Cred4All — Sun, 11 Nov 2018 13:32:29 GMT

I echo everyones good advice here Op. The Capital One serves it's purpose of helping improve a profile regardless of the credit limit. Mine's been with me since 2005 and it started probably in the same range as yours (But darn if I can think back that far.) The Discover gives the cashback perk and it's a card, again as already explained, that will grow exponentially with time so that's going to be the money card. Keep Capital One alive but don't anticipate life changing CLI's.

Re: Put spend on capital one or discover it?

UpperNwGuy — Sun, 11 Nov 2018 13:56:23 GMT

@Anonymous wrote:
@AverageJoesCredit wrote:
Lol Oldman87, i didnt get cards just for rewards but to establish my credit but i hear ya. Best to get cards that give back then give nothing
Still doesn't change anything though, if you have a few useless no reward cards whose sole purpose is to beef up your credit profile, a token monthly reoccurring charge to keep it alive will suffice. Example, OP's CapOne Platinum.

I agree with oldman87.

Re: Put spend on capital one or discover it?

rprisco — Sun, 11 Nov 2018 17:51:29 GMT

I personally am not a fan of cap1, I started in steps @300, 2 mos later cli 400 and final steps increase to 750, I've maxed and paid several times for months, they wont budge, I finally decided to close it 2 weeks ago. Served its purpose in all fairness.

I tend to be loyal no matter what, same cell carrier since 1996, same car insurance, same bank/cu. I am loyal until I dont feel the relationship is mutual.

DISCO did good by me and me them, opened at same time as cap1, secured to 500, graduated mo 7 with 2500 sl. They increased it twice since then it sits at 3100, opened April 2017.

April 2018 opened 2nd DISCO sl 5k, 2 increases sits at 8200. At next cli I will combine the two cards.

Discover will help establish responsibility with larger credit lines and a card to keep for many years. Cap 1, buy a candy bar every 6 mos until you outgrow it.

OP, I'd chill and let things age, soon if you want, once established, AMEX, CITI, CHASE etc will be popping out of your wallet with great rewards and nice cards that will grow.