@Anonymouswrote:
@Anonymouswrote:
@Anonymouswrote:
@Anonymouswrote:
Just for the record, I tested Discover prequal again this morning and got preapproval offers for two versions of IT; the 14-month zero-APR-on-purchase version and the 18-month zero-APR-on-BT/6-month-zero-on-purchase edition. I think they may have dated from the beginning of the month so that my existing card is notionally 1 year old as of March 1 even though I got it on March 22nd of last year. The offers are good until next Thursday so I have time to think about it a bit.
Your post prompted me to try just for fun, mine was established March 10th last year and I did end up getting a pre-approval for two Discover IT card versions one for BT and the other for regular Introductory offer for 0% APR for 14 Mos. Also got an offer for Discover IT Miles with the same 14 mos. 0% Introductory offer. But after that the APR goes up to 19.24% which is still very high. Funny thing is that, I can't even get a limit increase from them since Sept. so I doubt if they would extend me higher credit if I do apply. But it's good to know that one does not have to wait after their original approval date to get pre-approved for a new Discover card.
The APR figure I got quoted was 24.24%, which is really pretty high compared to the 17.99% - 19.24% (still high, but I'll see later if I can negotiate an APR reduction) that I'm getting on my three current biggest cards (Penfed, Apple and Cap One QS, all Visas; the Cap One is at 0% until the end of October when it switches over to 19.24%). That being said, that's an improvement over my current Discover IT which is going to go to 26.24% when the 0% APR period ends in May. I didn't complete the application at this time; I'm going to think it over and revisit it next week since the offer is open until the 15th. Also, they didn't show me a soft-pull score (which they did last month when I was declined due to not having had my current card long enough), but I imagine it must have been EQ and that it may have improved since last month due to account payoffs and my Cap One QS Visa beginning to report.
Wow that is pretty high APR, considering you've already had a history with them. My current APR on the existing Discover card is also 26.24%, I am waiting after the Introductory offer expires in May and will ask them if they have any existing offer for an APR reduction. Although I don't think i'm interested in expanding my relationship with Discover. I stopped using the card since January. They're giving me some tough love on the CLI and I'm just returning the favor. If they do agree to lower the APR in May, then maybe... maybe i will give them some of my spend.
Keep in mind, though, that I filed Chapter 7 BK in late 2014. I didn't have an account with Discover back then, but the BK is still the biggest single drag on my credit score. I can't apply to Chase or Citi pretty much until the BK drops off because they were included in the filing, and Amex, even though I've never had an account with them, is also a no-go until next fall because they have a policy of requiring at least 5 years/1 month to pass before they'll consider granting you a card after BK.
I'm hoping that the upward pressure from other cards in my portfolio that have gone above $5K limits in recent months will help push the SL on a new Discover IT upwards as well, should I apply for it (I'm still thinking about it, since the offer is good until the 15th). As I mentioned, I didn't get a CLI in my last attempt this morning, which seems to break the 90-day track I've been on. I'm not sure if I'll get any more with this particular card, which might be a "starter" type, so if I get a second Discover IT, I'm probably going to use the accumulated rewards after the April statement cuts, then pay off the balance and close the older card after the May statement.
I don't want to overdo the HP's on EQ, though, since I'm also planning a CLI request to Penfed after the next statement cuts (and my current balance is paid off) next week, and I'm also planning to look into possibly getting my old PayPal Credit/Bill Me Later account reinstated (it was closed at the time of the BK), which might also require another HP.
