ABS... Asset Backed Securities
Supposedly there are folks with 40k + Discover cards.. but also supposedly income verification comes in somewhere over 30... (but not completely sure of what the cutoff is)
I got approved for the It Miles card a little bit ago. For the longest time I thought my card was It card was the regular version, turns out I've had the student version the entire time. I applied for it with it first came out and I don't think they had the student version back then but I could be wrong. I had to call in to get finish the application because I did not have one of the documents needed for verification on hand, got everything done within 5 minutes. I had to answer a few questions about who I have accounts with and verified some info and had a text sent with a number for verification purposes.
First Discover It opened back in 2013, current CL is $4,800
TU: 741, EQ 742
I did the application through the prequalification page, I got 0% APR for 15 months and then 24.49%, I don't mind the high APR because I usually pay in full in all my accounts (except once in a while I take advantage of the 0%). My first Discover has a APR of around 16%
I have 4 cards opened in the past 6 months, and 2 cards just turned a year old a few days ago.
So how does the it miles card work? It's 1.5% equivalent cash back, and in assuming you pay with the card and get a statement credit?
Just some pointers for those who go for the 2nd card. Got my new card yesterday. I may be wrong. But the new card looks like a foil design. Shines like the QS. If I remember the first card was the default bland blue look. Cant remember. Seeing the double your cash back after 1 year was great. But the winner is seeing that 13.2% after 14 months 0% compared to my first card at 26.9% which is now a SD'ed Chrome. My lowest % out of all my cards. They did pull EQ FICO 8 745. And the CSR didn't get it right saying I had to have 2 sign in pages. 1 for each card. Activated the new card on my main page and it now list both accounts. 1 sign in. Sweet! GL to you all.
Was just approved for my second IT card for $5000 from the Pre-approval page.
income 164000, 58 inquiries (TU-767)
its my third Discover Card actually
First around December 2013/14 SL 2,000. Hit the 16 day Discover train the next March until it crashed that June. CL 8200 then 2-500 CLI’s since for a total of 9200.
Apped 2 years ago for a Miles and received a 500 line. Waited 6 months and called in for a CLI and was denied so I closed it. Was granted a 3x auto CLI on the closed card the VERY NEXT MORNING!😂
I’ll rake in the 10% quarters for the first year then combine when its available
Ok, went out of the garden to get Discover the 2nd. Why? Because I earned over $800 cashback total on the first one, seems worth the HP to me. Stats are below:
1st card: May 2017, pulled EQ, around 700 at the time. $2K SL, grew fast for first 6 months, nothing since then - is now $4K.
2nd card: May 2018, pulled EX (can you believe it?), was at 741 Fico 8, $5K SL, cashback match, 14 mo/0% intro rate, 17.2% after that.
I'm going to see if I can do better than $1K in cashback this year.
So a sucker is born every day and it happened to be me.. Discover and I came to heads again today.. It has been a year since I have been approved for my Miles card with a whopping 1.25k SL which is now at anot so impressive 4.25k CL..
Anyways i did the prequal thinking i would take the double cash on the IT card for a 2nd time.. Of course was pre-approved, etc as crossed the year threshold since last discover approval. Applied like a sucker that cant take enough abuse from Discover and asked to upload utility bill and ss card (probably since recently moving) then asked to call in..So called in and went through a few things and she came back saying congratulations you have been approved for 1k...... I was like really? **bleep** is wrong with Discover.
I make well into the 6 figure income, scores in the 700's(2% utilization atm) my other CL's max is 35k CL with the average of around 17k then Discover throws a 1k approval at me. While others just out of BK or rebuilding or new to credit with alot less income get 5-15k approvals. They have me truely stumped.. Since I was talking with her on the phone I asked her if she could withdrawl or turn down my application as this CL wouldn't work for me.. She mentioned about the BT and I said BT with a 1k CL really lol.. Anyways she was able to decline it and it now shows online as declined and get letter in x days. So I assume it won't report as a new TL.. I did of course get hit for an inquiry as well as they love me so much on Experian while others get SPs as well.... I completely give up on discover since my double cash is up on my Miles card and my lowest CL at 4250 will SD the card until they decide if ever to increase it to 10kish range. For some reason Discover simply doesn't like my profile. Assume it is cause i have 300k in other credit and large limits and they simply don't want to compete with these lenders or don't think they will get swipes.. Two weeks ago I put 4k of my 4.25k CL on a charge and paid it off after posting would of put 12k on it, but didn't have the CL to do so so had to split the charge and PIF it already.. Anyways obviously discover doesn't like my profile and I obviously still continue to dislike discover, but with double cash back it was to tempting.. Another lesson learned. Hopefully this helps out other "suckers" that might fall for discovers low balls or well established credit profile if you have alot of credit already and good scores. /Rant over. Just wanted to throw out a DP.
If you already have a fairly large limit on the first card($25k+), is there a limit to the total amount they'll give you between the two cards?