How long should I wait to apply for the Discover card?

[Anonymous]

What I worry about is the starting limit on the Discover card. I currently don't have a high limit credit card. I am fairly certain that I will get a high starting limit on the freedom card, and I read that when lenders see a high limit card on your profile, they are encouraged to offer a high limit on their card. That's why I was thinking maybe to wait a month or two before applying for the Discover. Let me know your thoughts on this.

[Anonymous]

I dont think Discover is the competitive type nor do they care to play the match highest limit game. This is strictly based on personal experience and Im sure there are many variables but in my case they seem to want to be the main card used, frequently. I've seen very few high limit starting lines with this card but it does happen here and there  $1500 - $4000 seems to be fairly common

[Anonymous]

What starting limit do you think I will get on the Discover card with my credit profile? Current scores are EQ: 743, TU: 808, EXP:757. AAoA is 3 yrs. Have 10 inquires, all of  which are 7 months old. No negatives. $100k income. No high limit cards. The highest limit I have currently is $1500.

[Anonymous]

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@Anonymous wrote:

What starting limit do you think I will get on the Discover card with my credit profile? Current scores are EQ: 743, TU: 808, EXP:757. AAoA is 3 yrs. Have 10 inquires, all of  which are 7 months old. No negatives. $100k income. No high limit cards. The highest limit I have currently is $1500.

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How many of those inquiries are on Equifax? That's the one Discover usually pulls. When I got Discover my scores were significantly lower than yours, and my AAoA was also lower. My starting line was $3K.

[Anonymous]

10

[ojefferyo]

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@Anonymous wrote:

What starting limit do you think I will get on the Discover card with my credit profile? Current scores are EQ: 743, TU: 808, EXP:757. AAoA is 3 yrs. Have 10 inquires, all of  which are 7 months old. No negatives. $100k income. No high limit cards. The highest limit I have currently is $1500.

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Why aren't you getting any higher limit cards? Is there something on your report? Discover started me with 11.5k, what's in your profile that's making them not want to give you higher limits?

[Anonymous]

Just a thought, run the chase prequal. If the sapphire pref shows up, take that instead of the freedom. Lowest starting line on it is 5k. First year AF is waived, and 40k bonus points with 4k spend in three months (basically 400 dollar statement credit or 500++ dollars in travel rewards.) Get a freedom in 6 or 8 months and if th CSP isn't working for you move some line to the freedom and close it before the AF hits. Discover seems to give weird lines out, somewhat independent of what any one else does.

[Anonymous]

Nothing bad on my report, just that I haven't applied for any cards in the last few years. I am still rocking my student credit cards which have very low limits. I will start app'ing soon. All the inquiries are from a recent auto loan and new apartment.

[Anonymous]

Discover, as I understand, likes them to be one of the main cards in your wallet.  Someone who has up to 6 cards (for instance) has a better shot at getting a higher limit than someone who is carrying 10 or more.  

It's on my list along with Barclay Apple for cards that are relatively easy to obtain with a 650 score (my score just needs to GET to 650 first).  Once I've held on to those for 6 mos-1 year I'll apply for Sallie Mae. 

[ojefferyo]

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@Anonymous wrote:

Discover, as I understand, likes them to be one of the main cards in your wallet.  Someone who has up to 6 cards (for instance) has a better shot at getting a higher limit than someone who is carrying 10 or more.  

It's on my list along with Barclay Apple for cards that are relatively easy to obtain with a 650 score (my score just needs to GET to 650 first).  Once I've held on to those for 6 mos-1 year I'll apply for Sallie Mae. 

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I had 12 accounts when they gave me mine so it really depends on your profile. If you have higher limits on existing cards they tend to try to match if not go above it so you'd use their card for everyday things.