Chances of Second Discover Card

[Jd2683]

That brings up another good point. I checked their pre-Qual tool on Discover’s website, and it did give me a prequalification, however I’m nervous about doing that because I already have a Discover card. I asked for a credit limit increase and was denied.

[Anonymous]

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@Jd2683 wrote:
That brings up another good point. I checked their pre-Qual tool on Discover’s website, and it did give me a prequalification, however I’m nervous about doing that because I already have a Discover card. I asked for a credit limit increase and was denied.

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Interesting. Please update if you do pull the trigger.

[Jd2683]

What’s the thought on that? I’m kind of feeling like if they wouldn’t give me a cli on an existing account, A new account is probably a no go as well. Thoughts?

[Anonymous]

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@Jd2683 wrote:
What’s the thought on that? I’m kind of feeling like if they wouldn’t give me a cli on an existing account, A new account is probably a no go as well. Thoughts?

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I prefer to answer from personal experience, but in this case I haven't tried it. But, I'm sure I've read several cases of where its been done successfully. I'm just not sure with Disco.

[AverageJoesCredit]

No, not being able to get a cli has nothing to do with whether or not Disco would give you another card. If your card is over a year old you could apply for a second card. Some people do get a better limit on the second card so your odds I'd say are 50/50 on getting a good limit. 654 is still a bit low but with Discover anything is possible.

[Anonymous]

 wrote:

That brings up another good point. I checked their pre-Qual tool on Discover’s website, and it did give me a prequalification, however I’m nervous about doing that because I already have a Discover card. I asked for a credit limit increase and was denied.

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If you have a discover card less than 12 months old, in most cases, you will be denied since they will only let you app a new card once every 12 months.  And i think the max is 2 cards with disco as well.   2 IT, 2 miles or 1 of each, but i'm not certain on if you have 2 of one, if you can get 1 of the other.  but the 12 months between is 99% solid. 

I wasnt able to CLI, but got a new card with much higher SL.   So that shouldnt stop you

[UncleB]

Hi @Jd2683, I've moved the posts regarding your question on a second Discover card to a new thread, since it's a different topic from your original question regarding the True-Value Discover card. 

If the topics had remained combined it would be easy for someone viewing casually to conflate the two different products/issuers.

--UB

[Caught750]

Like Jago22 said; 12 months between cards and you're good to go. Lots DPs of people being denied a CLI but getting a new card with a higher limit. Keep us updated.

[Anonymous]

I would like to share my experience with Discover.

I got my first Discover IT Card on Jun'17 (that was my first Card ever). My colleague referred me. They gave me a 1000 CLI (O APR for 12 months) - I didn't have any valid score at that time. Rep approved based on my employment and income.

I was using the Card very frequently, but always paid the minimum balance. After 5 months, I brought down my balance to 200. Requested a CLI and instantly approved for 1500.  Kept using it, paying the minimum balance. Around Mar'18 - brought down my balance to 300. Requested a CLI and instantly approved for 2100. None of them were HP.

In between I tried for another Discover Card - denied straight away without an HP. After talking to the REP - they strongly suggested to wait for 12 months before applying another Card.

On Jun'18 - checked for Pre Qualification on their site. All of their Card shown up. Applied for it. Immediately called, Rep gave me a 5000 CLI for 2nd Discover IT Card (0 APR for 14 months).  Scores Approx: EQ - 700+, EX - 700+ and TU - 730+

My understanding of Discover.

1. They are very generous

2. Not Inquiry or new account (from other banks) sensitive

3. Your Income can be matter if your Score is low or Credit History is limited

4. Not to apply for new Cards with Discover if you already got a Card within 12 months from them.

5. If you use your Card frequently, show that you can pay off, maintain balance below 30% - high chances they will give CLIs after 4/5 months - no HP.

6. After 12 months, if your score is decent - they will approve a new Card with much better CLI compare to the first one

[Anonymous]

I can personally confirm, having done so several months ago, that if you wait at least 12 months after getting your first Discover and demonstrate a responsible history with that card, you will very likely get prequalification offers for a second card, and if approved - one key thing to watch for is whether you're offered a firm single-figure APR, if so, that's as close to a sure thing as possible in credit-card apps - you're likely to get a much more generous SL than you did with your first card ($5000 as opposed to $2500 for me). Once the newer card is at least 1 year old, you can combine the two, but the catch is that, in addition to the usual aging requirement and the requirement for the card being combined to be paid off/zero balance, there also has to be a CLI offer available on at least one of the cards. So you need to check the luv button and if there's a CLI available, do not take it - call the Discover "backdoor" number and ask them to combine your cards, advising them you have a CLI offer on one of them. Once you've done that, I think you should be able to apply for a second Discover again now that you're back down to one card.

If you can't get a CLI on the card(s) when it comes to combo time, you might be able to reallocate most of the limit from one card to the one that you want to keep, then close the other card.

Also, Discover is really funny when it comes to when they're willing to hand out CLI's and how much they'll give out at any given time. Generally, the rule of thumb is to wait until the third statement cuts on your card to begin pressing the luv button, since Discover will sometimes hand out auto-CLI's at that time. After that, members have reported being informed by Discover customer service that they can theoretically get one CLI every 30 days if their profile is good enough (I've heard of members pressing that button a LOT more than once every 30 days!) As to how much you can get, it's a classic crapshoot. Most recently, I got a $500 CLI on my newer Discover last month and then a $300 CLI on my older Discover last week - which I hadn't been able to get a CLI on at all since last December!