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Discover it chrome?

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Anonymous
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Discover it chrome?

Hello,

This is my very first post!

I have always been intersted in getting a discover student card.

A little background about my credit:

TU: 627 INQ: 9

EQ: 629 INQ: 4

I am currently 18 and got my first CC in Dec. 2014.

The current cards I have are: Cap 1 Journey 1500

Citi Student Preferred: 1000

CU card: 500

VS: 250

My utilization has gone up lately and is pretty high..

Should I risk it and apply, or should I wait?

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2 REPLIES 2
Skye12329
Valued Contributor

Re: Discover it chrome?

I suggest waiting. Definitely get your utilization done which should help your scores. What's your aaoa?
BK7 - 2/21
Cap1 QS - 2k (4/21) - Closed
Mission Lane - 4k (11/21) - Closed
Venmo - 900 (11/21) - Closed
SavorOne - 2700 (12/21)
VentureOne - 2000 (7/22) - Closed
CareCredit - 15000 (6/23)
Sam's Club - 5000 (7/23)
Venture - 5500 (8/24)
HELOC - 33000 (7/23)
Venture X - 15000 (11/24)
WF Reflect - 5000 (6/25)
Costco - 6800 (8/25)
Message 2 of 3
NRB525
Super Contributor

Re: Discover it chrome?

Welcome to the forum!

 

As an 18 year old, you have plenty of cards. $3k in real credit. You would be best advised to not get any more cards, to just work with the cards you have, keep the utilization down to minimize interest costs.

The danger of getting more credit now, if you already have high utilization is that you will carry larger balances. That means more interest cost, so everything you buy becomes more expensive. Your budget gets stressed, and that is the wrong way to use credit.


Better to pay down what you have, get used to only charging what you can PIF, keep interest expense at zero, and only borrowing for a particular purpose using the good credit you are going to be building, such as potentially financing a used car, later on, through the CU at a low APR.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
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