topic Re: Any Reason Not to App for Discover? in Credit Cards

Any Reason Not to App for Discover?

steve23111 — Thu, 12 Jul 2012 03:08:22 GMT

I am looking to add another cash back card to my portfolio to maximize my earnings on everyday purchases. Currently, my AMEX BCP is my daily spender. I have examined my spending my know the $75 AF is worth it-- even with the fee I make about an extra $100 in cash back on an annual basis with my current spending vs. the standard BCE.

I am considering either a Discover or Chase Freedom for the 5% Cash Back.

I have a past BK, now totally off my reports, and a FICO over 800. Discover was IIB in 2002 to the tune of $7000 IIRC. I hear their memory starts to slip after about five years and see some reports of folks getting back in with them (AMEX had no problem letting me back in despite IIB them for $4500).

Chase was not IIB.

I really could go either way with one (or hell, both) of these cards for the 5% cash back categories, as they would compliment the BCP nicely. I'm inclined to go Discover, but am wondering if I should be too concerned about having IIB'd them 10 years ago. I'd hate to waste an inquiry on them.

Re: Any Reason Not to App for Discover?

laboi_22 — Thu, 12 Jul 2012 03:13:37 GMT

Check Discovers preapproval site. See what comes us. I would personally go for Chase. You get a full 1% on purchases that are. It in the rotation. It would also compliment your AMEX nicely as a Visa back up whereas I find Dicovers acceptance limited as well. Again I have both Discover is a fine card but doesn't seem to grow. I just think IMO that Chase would be a better fit and I can't even believe I'm saying this since chase is certainly not my favorite.

Re: Any Reason Not to App for Discover?

steve23111 — Thu, 12 Jul 2012 03:16:36 GMT

Thanks for the input. I never had any problems with acceptance of Discover 10-12 years ago, but I have noticed the logo conspicuously absent from the front doors of many businesses lately. It's been rare for me to come across a place that doesn't accept AMEX, but there seem to be large holes in Discover's footprint.

I have been checking the preapproval site and nothing ever comes up.

Re: Any Reason Not to App for Discover?

laboi_22 — Thu, 12 Jul 2012 03:20:31 GMT

I was suprised when I began using Discover for 5% at restaurants that a large handful would not accept Discover but when I asked if they take AMEX always yes. Strange since I haven't had a merchant that I use regularly turn down an AMEX seems to be more common for Discover at least in my neck of the woods.

Re: Any Reason Not to App for Discover?

steve23111 — Thu, 12 Jul 2012 03:22:35 GMT

I'd imagine that's something that varies from one locality to another. I have come across a number of places that don't have AMEX displayed as an accepted payment type (only Visa & Mastercard) but when handed my AMEX they take it without hesitation. I do always keep my BB&T Visa with me as backup, but it's never really been a problem.

Re: Any Reason Not to App for Discover?

Anonymous — Thu, 12 Jul 2012 03:26:07 GMT

I too have both cards and I tend to use my Freedom more often. If you have a Chase checking account you get even more points, so its a no brainer to use it more. I found, however, that Chase is really difficult to get CLI from. Discover started my with a much higher limit (2x that of Chase) and I also prefer Discover customer service way more than Chase.

Both have their benefits, so just weigh the pros and cons for each and see what matters more to you. I will take more rewards over better customer service anyday - But I also tend to have a lot of patience

Re: Any Reason Not to App for Discover?

laboi_22 — Thu, 12 Jul 2012 03:26:46 GMT

Same here. I've handed AMEX to merchants that only have the Visa/MC logo on the door and they took my AMEX to my suprise. Even the smallest places that you just know would not take an AMEX. Very interesting.

Re: Any Reason Not to App for Discover?

PokemonMaster — Thu, 12 Jul 2012 03:27:40 GMT

@steve23111 wrote:
I'd imagine that's something that varies from one locality to another. I have come across a number of places that don't have AMEX displayed as an accepted payment type (only Visa & Mastercard) but when handed my AMEX they take it without hesitation. I do always keep my BB&T Visa with me as backup, but it's never really been a problem.

Around here a lot of places take Discover but AMEX is very spotty in terms of coverage. I plan to get an AMEX card eventually so I can have one card on each network just in case.

Re: Any Reason Not to App for Discover?

steve23111 — Thu, 12 Jul 2012 03:30:59 GMT

@Anonymous wrote:
I too have both cards and I tend to use my Freedom more often. If you have a Chase checking account you get even more points, so its a no brainer to use it more. I found, however, that Chase is really difficult to get CLI from. Discover started my with a much higher limit (2x that of Chase) and I also prefer Discover customer service way more than Chase.

Both have their benefits, so just weigh the pros and cons for each and see what matters more to you. I will take more rewards over better customer service anyday - But I also tend to have a lot of patience

I would consider that, but there are no Chase branches around here... possibly not anywhere in Virginia... so checking accounts are not an option. I'm happy with BB&T.

I know Chase is tougher on CLI's and I am spoiled by the soft pull CLI's on my GE PayPal MC and AMEX cards. All of my existing cards have decent limits, but not extraordinarly high, and I would hate to have one of these come back with a low CL and have to fight for a CLI. If there's one thing this board has taught me, though, it's that there's always a recon!

My current cards are BB&T Visa Platinum $2500, AMEX BCP $4500, AMEX Clear $5000, AMEX Zync NPSL, GE PayPal MC $6000. BB&T is about two years old, PayPal is about a year old, and the AMEX cards are backdated to 2000.

Re: Any Reason Not to App for Discover?

Anonymous — Thu, 12 Jul 2012 03:33:14 GMT

@steve23111 wrote:

I really could go either way with one (or hell, both) of these cards for the 5% cash back categories, as they would compliment the BCP nicely.

Go for both! I have the Amex BCP, the Discover and the Chase Freedom. With the Chase Freedom, I also have checking with Chase so, I'm also getting the rewards of their 10--10 plan. Between these 3 cards, the Rewards are VERY nice. Also, I live in Southern California and I have NO problem finding merchants who accept Discover or American Express -- I have NEVER had either one rejected anywhere. Interestingly, sometimes the Discover logo is NOT on the front door --- BUT, the merchant accepts the card anyway. I've found this to be true at 4 or 5 different restaurants, as well as the movies, and, the stores that I shop in at the mall.

I say go for both!

Re: Any Reason Not to App for Discover?

trumpet-205 — Thu, 12 Jul 2012 05:00:34 GMT

Unless you shop online, where you can take advantage of ShopDiscover,

Chase Freedom > Discover More.

* Discover has this spending tier where you need to spend $3000 above annually to get 1% base cashback.

* Discover imposes tiny cap on bonus category vs Chase.

* Discover has some "weak" categories, like grocery for only a month.

* In terms of acceptance, Discover will never beat Visa/MC.

Re: Any Reason Not to App for Discover?

steve23111 — Thu, 12 Jul 2012 05:02:15 GMT

@trumpet-205 wrote:
* Discover has this spending tier where you need to spend $3000 above annually to get 1% base cashback.

I did not know that! That's cheesy! But yep, I see that in their FAQ now. Wow.

Re: Any Reason Not to App for Discover?

Anonymous — Thu, 12 Jul 2012 05:03:02 GMT

I would app for them both if I were you.

Re: Any Reason Not to App for Discover?

trumpet-205 — Thu, 12 Jul 2012 05:14:26 GMT

@steve23111 wrote:
@trumpet-205 wrote:
* Discover has this spending tier where you need to spend $3000 above annually to get 1% base cashback.
I did not know that! That's cheesy! But yep, I see that in their FAQ now. Wow.

Also, stores like Walmart and Dollar Tree falls into warehouse/discount category, as such, always earn 0.25% cashback on Discover More.

Personally, Discover More is the weakest 5% rotating cashback CC. Unless you shop online frequently, and can take advantage of ShopDiscover that is.

Chase Freedom > Citi Dividend > Discover More.

Re: Any Reason Not to App for Discover?

steve23111 — Sat, 14 Jul 2012 00:29:59 GMT

Well, I just pulled the trigger and applied for the Chase Freedom. Got the "Decision Pending" page, will be notified within 10 days. Oh well.

Re: Any Reason Not to App for Discover?

gettnthere — Sat, 14 Jul 2012 00:39:40 GMT

did you call the BACKDOOR number to do RECON. it could be something simple as verifing some info or may need to ask about something on your CR. i CANNOT see chase dening you the card with your kind of scores. the number is 1-888-245-0625. i would def. take a minute to call as you have already taken a HP

Re: Any Reason Not to App for Discover?

steve23111 — Sat, 14 Jul 2012 00:46:23 GMT

And what do I do, just ask to check on the status of the application?

Re: Any Reason Not to App for Discover?

gettnthere — Sat, 14 Jul 2012 00:52:23 GMT

yea, you will be directly speaking with a credit analyst. tell them you just apped for the freedom and got the 7-10 message and that you were wondering if they needed some additonal info to approve the application. at any point in the conversation the analyst tells you your online app was denied tell him you would like to request a RECONSIDERATION or manuel review of the applicaton. it should go well in your direction.if you dont mind, come back here and update me on what happens and if you have any more questions, good luck

Re: Any Reason Not to App for Discover?

steve23111 — Sat, 14 Jul 2012 00:54:19 GMT

They want an account number or reference number. I don't have either one.

Re: Any Reason Not to App for Discover?

gettnthere — Sat, 14 Jul 2012 01:02:00 GMT

That # should put you directly in touch with a live person. When they answer and still ask for an acct or ref. Number just tell them you just apped for the freedom card and and ask them if they would please pull your app up and then just follow what I said in my previous post