I will be looking to open my second Discover BT card in Jan 2020.
I started with a Discover Chrome Secured card in Jan 2019 ($200 deposit) and graduated in Aug 2019 with a $1750 CL.
I have paid in full 8 of my 11 so far months. Right now i'm carrying 4.4% balance.
Maybe this month Ms. Disco will give me my first CLI. Doubtful, let me get the shredder warmed up.
I’m posting to add some data points about combining Disco Cards and then getting a 3rd Card (a new 2nd Card). I have been hoping for a while to combine my two IT cards, close the first card and apply for a new card. I wanted to do this in order to increase my CL and in order to get the double cash back match again.
I got my first It card in Sept 2017 with a $700 or $800 limit and had slowly gotten increases to bring it up to $5.8K. I got my second It card in Sept of 2018 and had gotten that cards limit up to $7.5K. My last CLI’s on these 2 cards had both occurred in August of 2019 which was a month too soon to do the combination. I have been trying unsuccessfully to get another CLI since Sept which is when my 2nd Card turned a year old and was eligible to do the combo. As I have said my last CLI’s on both of my previous cards were in August and I kept getting turned down using the love button until early this morning.
This morning I decided to check my accounts (both of which I have used for about $500 of category spend over the holidays) just to make sure everything was paid. I wasn’t planning to ask for CLI’s because I had been turned about a month ago. While I was checking they asked if I wanted to add my card to Apple Pay. I didn’t really want to do it but I thought that maybe if I did that it might somehow increase my odds for a CLI on the card so I added the card to Apple Pay. I then asked for a CLI on that card (my 7.5K Sept 2018 #2 card). They offered me a $2K CLI and I declined it and hit cancel and I called them at 4 O’clock in the morning to ask for the combo.
I was a little worried that the right people wouldn't be working at that hour but they were and I got the combo done! One odd thing happened though. They said they had to make a new request for a CLI because I had canceled the first one and they came back with $1.5k not $2K. I know sometimes people have a hard time finding CSR’s who know how to do the combo so I decided that I was perfectly happy with $1.5K and a combo/closure so that’s what I did. My new combined card has a $14.8K limit.
Then I started wondering how long I needed to wait to apply for a new card. I figured at least a statement right? I searched the MyFICO forum for about an hour and I couldn’t find the answer (although I’m sure it’s there somewhere). Anyway I decided just for the fun of it to check to see if I had a prequalified offer for a new card and I did!
The offer included double cash back match for the first year, 0% into APR and a solid 16.49% APR after the first year. I was thinking it might be a bad idea to apply for a few reasons (the most obvious one being a denial and wasted HP). They said the offer was good until the 18th but I was afraid to leave the page and somehow lose the offer. So I decided just to go for it! I’m glad I did because I was approved for $8K!!!!
I’m delighted with the results and I just hope I don’t attract too much attention and end up with an AA on this or any of my other accounts because of my recent credit seeking and accumulating behavior. I have also recently received 3 SP CLI’s from Navy and I have opened 4 new accounts since November (including this Disco). 3 of the 4 new cards (including this newest Disco) pulled Experian. At the time of this Disco application I had 5 Experian inquires (now 6) in the last year and 2 (now 3) in the last 6 months. I’ve had 11 (now 12) Experian hard inquires in the last 2 years. My Experian report currently showed 4 accounts opened in the last year but it doesn’t show my GS Apple Card or my new BBVA Card which hasn’t reported yet.
Disco pulled Experian only and I’m pretty certain it was FICO 8. My FICO 8 score was 733 but the inquiry brought it down to 723. Interestingly 733 is the same score I had in September of 2018 when I was approved for what was previously my most recent Disco Card. My first Disco Card was approved for $700 or $800 (I can’t remember or find the exact amount) in Sept 2017 and my 2nd approval was for $1K in Sept of 2018. Since my score was coincidentally exactly the same as it was at the time of my last approval I was fully expecting a similar starting limit on my 3rd Card. I was very pleased when I was instantly approved for $8K for this 3rd Card.
I can’t believe I was able to do the combo, close an account and then open a new card all in about two and a half hours!
I usually (and currently) have 3 of my 23 cards reporting a balance and my aggregate utilization always reports 1%.
I hope this data will be useful to others. Per usual I want to thank all of the members of this community for sharing their knowledge with me. You guys are the best!!!!
I’m delighted with the results and I just hope I don’t attract too much attention and end up with an AA on this or any of my other accounts because of my recent credit seeking and accumulating behavior.
Congrats all the way around! Thanks for sharing and enjoy that shiny new card
One ?- Did you put down the same income for all the apps?
Great post, Hex -- thank you.
Congrats! on your Disco success, and on all of your credit successes. You've got it going on.
@GApeachy - My income has gone up. I don’t know the exact figures but I report my income accurately so it was around:
$145K for card #1
$155K for card #2 and
$166K exactly for card #3.
I’m in a union and I’ve reached the top of the pay scale so my income won’t be going up that quickly anymore. I feel very fortunate to have the income I do. I had a very low income for years.