topic Re: Is it possible that Discover buckets cards? in Credit Cards

Is it possible that Discover buckets cards?

jonblaze24 — Tue, 08 Mar 2022 00:52:14 GMT

I've had my DiscoverIT cash back card for about 7 years now. SL of $1,500 back when my credit score was in the 5's, after years of use and random small increases here and there, I have my limit up to $8,300. Not bad at all, but my score is now in the low 7's and im generally curious if I may be better off just applying for a new one (not only to see if I can get a better SL but to get a lower APR). I am a huge fan of discover, so its not a question of keeping them around but I would like a little more flexibility with them.

Re: Is it possible that Discover buckets cards?

FinStar — Tue, 08 Mar 2022 01:06:00 GMT

The majority of financial institutions that issue CCs have tranches. And Discover is no exception. It's not as prevalent as Capital One, but they follow similar ABS methodologies.

An item to keep in mind, relative to your other unsecured exposure, how often do you use Discover? And, is $8,300 not flexible or sufficient for how you use the card? Are you maxing out the 5% categories every quarter? So, $8,300 doesn't really sound like it's 'bucketed', but perhaps that's as much as they're willing to extend on this particular account. You can always apply for a 2nd card and see what that yields.

As far as the standard APR, they're definitely flexible with lowering it over time. You can contact them to see if your account is eligible, and if so, you can repeat the process once every 12 months.

Re: Is it possible that Discover buckets cards?

FalconSteve — Tue, 08 Mar 2022 01:24:28 GMT

My wife had a Discover IT secured card and she probably could have gotten a non-secured card, but we were skiddish, but they clearly bucketed us (at least for a while) with our $300 CLIs despite 800+ scores. We did get ONE increase Spring 2021 that was an exception ($5000) that I cannot explain.

Re: Is it possible that Discover buckets cards?

AlanGJP — Tue, 08 Mar 2022 07:05:19 GMT

Absolutely they do. Discover IT was one of my first cards during rebuild when I was in the lower 600's. Barely grew, even with decent (1-3k) usage/month and always PIF. Grew to $2500 in 3 years, most of that in the first 2. Then constant denials. For giggles, I applied for a second card - INSTANT $10k approval. First card still hasn't moved, despite monthly requests and decent usage. I may cut that one soon. (I'm on a thinning spree of late, too many cards)

My suggestion would be to focus on your scores and app for new cards (use the pre-quals), apply when you're happy with the offer. You may be surprised what pops up. Good luck!

Re: Is it possible that Discover buckets cards?

FireMedic1 — Tue, 08 Mar 2022 10:19:46 GMT

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

Re: Is it possible that Discover buckets cards?

AverageJoesCredit — Tue, 08 Mar 2022 11:16:35 GMT

@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years

Re: Is it possible that Discover buckets cards?

dragontears — Tue, 08 Mar 2022 12:00:48 GMT

@AverageJoesCredit wrote:
@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.
My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years

My second card also had a higher APR (still does) as well as a lower SL than the first.

Re: Is it possible that Discover buckets cards?

FinStar — Tue, 08 Mar 2022 20:39:29 GMT

@dragontears wrote:
@AverageJoesCredit wrote:
@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.
My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years
My second card also had a higher APR (still does) as well as a lower SL than the first.

Indeed.

There were a couple members who were approved for very, very low limits ($1K) despite having long histories on their other Discover cards (with high limits), so results will vary when a 2nd Discover account is opened.

Conversely, there have been members that were approved with a similar or higher limits on their 2nd card -- profile dependent of course.

Re: Is it possible that Discover buckets cards?

jonblaze24 — Tue, 08 Mar 2022 22:53:35 GMT

If i were to apply for another DiscoverIt, do they allow you to combine accounts? Or would it still be 2 separate cards, 2 separate accounts?

@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

Re: Is it possible that Discover buckets cards?

dragontears — Tue, 08 Mar 2022 22:55:43 GMT

@jonblaze24 wrote:
If i were to apply for another DiscoverIt, do they allow you to combine accounts? Or would it still be 2 separate cards, 2 separate accounts?
@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

Last I heard, you had to be eligible for a CLI on the card you want to transfer the limit to but policies change all the time so....

Re: Is it possible that Discover buckets cards?

FinStar — Tue, 08 Mar 2022 23:00:07 GMT

@jonblaze24 wrote:
If i were to apply for another DiscoverIt, do they allow you to combine accounts? Or would it still be 2 separate cards, 2 separate accounts?

@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

Only if your other account is eligible for a CLI when you apply for the 2nd card and are approved. Otherwise, you'll have 2 separate accounts until you have the option to combine them.

Re: Is it possible that Discover buckets cards?

MarkintheHV — Wed, 09 Mar 2022 11:08:31 GMT

They bucketed me. First card was $5500 and was stuck there for a long time. App'd a second card, and they gave me $3000 and no CLI's for any of them after 2 years. Kind of discouraging if you look at my other CLI's below. I closed them, and came to the conclusion that Discover doesnt like me.

Re: Is it possible that Discover buckets cards?

mgs2010 — Wed, 09 Mar 2022 14:30:10 GMT

@MarkintheHV wrote:
They bucketed me. First card was $5500 and was stuck there for a long time. App'd a second card, and they gave me $3000 and no CLI's for any of them after 2 years. Kind of discouraging if you look at my other CLI's below. I closed them, and came to the conclusion that Discover doesnt like me.

I have the same issue - 2 cards both with stagnant small limits and I use them all the time. Though I did burn them in a ch7 over a decade ago so I can't blame them I suppose. Still tempted to just close their cards and move on since they don't really want to grow the relationship, or so it seems.

Re: Is it possible that Discover buckets cards?

MarkintheHV — Wed, 09 Mar 2022 14:46:15 GMT

@mgs2010 wrote:
@MarkintheHV wrote:
They bucketed me. First card was $5500 and was stuck there for a long time. App'd a second card, and they gave me $3000 and no CLI's for any of them after 2 years. Kind of discouraging if you look at my other CLI's below. I closed them, and came to the conclusion that Discover doesnt like me.

I have the same issue - 2 cards both with stagnant small limits and I use them all the time. Though I did burn them in a ch7 over a decade ago so I can't blame them I suppose. Still tempted to just close their cards and move on since they don't really want to grow the relationship, or so it seems.

I moved on as there are other institutions that value me as a customer. I never burned them, or had any issues with them, but, for some reason they bucketed me. DW has a 10k Discover and they wont give her a CLI either.

Re: Is it possible that Discover buckets cards?

805orbust — Wed, 09 Mar 2022 23:20:10 GMT

Frankly, they annoy me as well. I was so annoyed with them in 12/20 (it was still at a $1200 limit after 6 years) that I opened a Chase Freedom Flex because I was gonna shred it. Then was paying the bill and figured what the hell, and they raised me to $6300. Unreal. I've just got a couple bills on there every month and I have it autopaying. Gonna close it soon... I think

Re: Is it possible that Discover buckets cards?

FireMedic1 — Thu, 10 Mar 2022 09:47:45 GMT

@AverageJoesCredit wrote:
@FireMedic1 wrote:
Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.
My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years

@AverageJoesCreditThose moves were because of you and your relationship with Missy back then. The day someone anyone can figure out how she ticks. Its a toss up. Roll the dice. I got a $500 CLI the other day with no contact telling me. Didnt ask for it. Popped on CK. Ok what did I do? Use it as I usually do. Go figure. But I was fresh out of BK with the first card. Second was 3 years later.

Re: Is it possible that Discover buckets cards?

FireMedic1 — Thu, 10 Mar 2022 17:53:16 GMT

@dragontears @AverageJoesCredit Well so much for 13.4%. Its even lower now 11.9%. Guess I need to read the fine print more often. Dont know when that happened.¯\_(ツ)_/¯

I'll take it. Must have been the roses at the doorstep...

The closed Chrome card is still there on the home page. Closed 11/19.

Re: Is it possible that Discover buckets cards?

AverageJoesCredit — Fri, 11 Mar 2022 11:19:49 GMT

@FireMedic1 wrote:
@dragontears @AverageJoesCredit Well so much for 13.4%. Its even lower now 11.9%. Guess I need to read the fine print more often. Dont know when that happened.¯\_(ツ)_/¯
I'll take it. Must have been the roses at the doorstep...
The closed Chrome card is still there on the home page. Closed 11/19.

That's a great apr FM1 I agree Miss Disco was fun years past. I might have to start using her more to at least entice $500 but it will a battle. I would like to combine so maybe IT can be my new goal