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Discover Launches Business Card

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Super Contributor

Re: Discover it Business?


@Xatos wrote:
Thanks ppl Smiley Happy and yeah just realized this would mess up my plans to get a 2nd disco it in the future. Which of those cards reports to business only, and does the Chase factor in inq's or new accounts only/subject to 5/24?

Chase 5/24 relates to accounts, not inquiries. If it's a business account that doesn't report to personal credit, it won't get factored in because it won't show up in the personal credit pull.


Total revolving limits 639500 (558000 reporting)
Message 51 of 71
Valued Member

Discover business card

Just got a preapproval in the mail. Just wondering if anyone knows anything on thier approval process.
Message 52 of 71
Super Contributor

Re: Discover business card


@Nomad2076 wrote:
Just got a preapproval in the mail. Just wondering if anyone knows anything on thier approval process.

I don't know anything about their approval process, but just want to caution you: this card, unlike most business cards, reports to your personal credit.


Total revolving limits 639500 (558000 reporting)
Message 53 of 71
Valued Member

Re: Discover business card

Thanks. I didn't know that. I rather not have a business card reporting to my personal account.


@SouthJamaica wrote:

@Nomad2076 wrote:
Just got a preapproval in the mail. Just wondering if anyone knows anything on thier approval process.

I don't know anything about their approval process, but just want to caution you: this card, unlike most business cards, reports to your personal credit.


 

Message 54 of 71
Community Leader
Super Contributor

Re: Discover business card

I actually applied for this card a month or two ago, and was declined solely for my BK (they weren't IIB), and Ive had 3 Personal Discover cards in the past 3 years, with my one open with a CL of $25.1k.

Their UW may be different for their Biz card, as I was declined.

As mentioned, it does report to your personal reports, and any pre-approval Ive ever gotten from them always ended in an approval, but YMMV.

Also, Discover has a 2 card policy. So if you have 2 personal cards currently, and apply for the Biz card, you'll be declined.

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 55 of 71
Super Contributor

Re: Discover business card


@Nomad2076 wrote:

Thanks. I didn't know that. I rather not have a business card reporting to my personal account.

 

 

Me too. Unfortunately I presently have a business card which reports to personal... my TD Bank "Business Solutions" card. I'm looking for the right moment to get rid of that turkey.


Total revolving limits 639500 (558000 reporting)
Message 56 of 71
Valued Member

Re: Discover business card

Thanks
Message 57 of 71
Valued Contributor

Re: Discover business card

My Mom has one of these Discover Business cards open since 2004.... Her limit is 50K.... They seem to be generous on the limits... however it reports to her credit so she hardly uses it.







Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000.
Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.
I WANT to join: Hanscom FCU (For the 2 day early direct deposit).
Burned:
DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 58 of 71
Contributor

Re: Discover business card

I'm late to this conversation but I'm curious for those of us that have a small side business like myself who resell on ebay would this card really be a bad deal since it reports to personal credit?  Amex cards are out since I shop at thrift stores and thrift outlets for stuff to resale online and none of them take Amex yet they do take Discover and I've had nothing but good experiences with Discover so I was looking at getting the Discover IT business card because of that.  Would I be better off getting a chase Ink business card?  I'm not going to hit anywhere near 3k spend on the card in three months even including purchasing product, shipping, shipping material (bubble wrap, padded envelops, etc.) and fees from paypal and ebay so that's the reason why I was looking at getting the discover it business card for my ebay side business instead of the ink business unlimited card.    

Message 59 of 71
Super Contributor

Re: Discover business card


@CWA1984 wrote:

I'm late to this conversation but I'm curious for those of us that have a small side business like myself who resell on ebay would this card really be a bad deal since it reports to personal credit?  Amex cards are out since I shop at thrift stores and thrift outlets for stuff to resale online and none of them take Amex yet they do take Discover and I've had nothing but good experiences with Discover so I was looking at getting the Discover IT business card because of that.  Would I be better off getting a chase Ink business card?  I'm not going to hit anywhere near 3k spend on the card in three months even including purchasing product, shipping, shipping material (bubble wrap, padded envelops, etc.) and fees from paypal and ebay so that's the reason why I was looking at getting the discover it business card for my ebay side business instead of the ink business unlimited card.    


My advice would be to avoid it. Yes it's bad that it reports to personal credit.  Let's say for example you have a $2k credit limit, and you want to buy $1500 worth of stuff. With a regular business credit card you just go ahead and do it. But with a card like that you have to live in fear of getting stuck with 75% utilization which will wreck your FICO scores.

 

Yes you would be better off with a Chase card. Since your operation is small you should go for one of the cash back versions which have no annual fee.  The Chase cards are the best, but not easy to get. But there are plenty of others out there. Almost all business credit cards do not report to personal credit. There are only 3 I know of which do report to personal credit: Discover, Capital One, and TD Bank.


Total revolving limits 639500 (558000 reporting)
Message 60 of 71
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