Is there any point in applying for a 2nd Disco card if not prequaled?

[tricklemoo]

@CreditPoor, are you for real? This thread was asking for specific datapoints to do with Discover. It wasn't asking for strategy, opinion etc on my overall approach to credit or profile etc. I literally am credit seeking, this is a planned spree and not my first. I have control of my finances and am not just willy-nilly applying for credit. I specifically planned things around only one hard inquiry on each CRA. As I have in past, I've planned this current phase of activity and applications incredibly specifically with a different hierarchy of plans based on how things play out. I assumed I'd be pre-qual'd for Discover as part of this plan as they've seemed a big fan of my profile, but since I'm not prequal'd, I am feeling out if I instead move to the next option in my plan if Discover BT isn't what I'm going to here. Another person on thread pointed out the C1 merge and that's USELFUL info as it gives some insight as to why I may not prequal as expected. Planning things carefully in sprees/bunches has worked beautifully for me in the past. Shouldn't have to defend that when that's nothign to do with this thread, I don't need or want your advice unless it pertains to a Discover datapoint with prequals vs actual approvals, thanks.

[JoeRockhead]

I got a second Discover "BT version" as mentioned up thread. I cold applied and was approved with a higher SL than my first Disco SL. I never used it for that. Other than the extended 0% BT offer timeline, it's a regular cash back card just like the first one.

Once upon a time (not long ago) people would get a second Disco, then when one of them was eligible for a CLI, they'd combine limits to one card, and then close the other... Not positive, (I'm sure someone will correct me)  but I don't think they offer this feature anymore so, other than having a second card with revolving cash back categories, and the matching cash back for the first year, there's no real benefit to having two of the same card. 

As an aside, there's a lot of talk about the Cap 1 acquisition of Discover... this may, or may not actually happen. If and when it does, it will likely take up to two years for everything to be integrated so I can't say I'd be concerned with what might happen with Discover cards in the very immediate future.  

[CYBERSAM]

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@tricklemoo wrote:

@CYBERSAM , had no idea about Discover being absorbed by C1?! Do you know if they are going to be maintaining the Discover branding and cardtype, or if its going to be absorbed to the point where Discover as a brand will cease to exist, and cards may be converted to mastercards etc?

My motivation for getting a 2nd Discover is that I need a 0% APR BT card.

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The specifics are not public yet, I'm thinking about a year or so before our Discover accounts being effected!

Back to subject of 0% BT, the issue you going to run in to is even if you get a new card for BT, how much is going to be the limit? So this strategy may not work as you hope it would even with 2nd approval. Discover is not known for huge SL especially for 2nd cards.

Sorry if I missed this, what is the balance amount you are looking to transfer?

Lastly not too long ago I had high UTI and scores around low 700s till I went with a personal loan through CU(Penfed) the interest was not as low but it was much lower then what I was paying on CCs. As I moved balance to PL, my score went up and I got another PL(DCU) few months after with much lower int rate. So finally I was able to stop paying any interest on my CCs and focused on paying the PL all together!

That strategy worked great for paying my high interest balance all together and now I'm able to get qualify for any CC that I like.

[tricklemoo]

@CYBERSAM , looking to BT whatever amount can, the more the better but as long as SL at least 3k, would be worth it. I like having more exposure/open credit as a util buffer, so even if its got the same functionality of the first Discover card, still useful to me. Many of my cards I got mainly to have availible credit, not necessarily to have a particular feature/reward etc. Works for me!

Loan wouldn't make sense as everything is 0% APR, and plan is to play BT game (as above also want more revolving credit exposure anyway) also I just out a largeish NFCU personal loan for personal expense yesterday, so won't be taking out any further personal loans for some years I'd imagine.  

That's helpful to know that Discover isn't particularly known for being generous on 2nd card SL, such as say NFCU is. Of course NFCU mileage may vary as with any lender, but its still helpful to know what lenders have reps for 

[Tdatb64]

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@CYBERSAM wrote:

No point getting another Discover card to have same as what you got with no additional perks! Specially now that Discover is going to be absorbed by CapOne.

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I think that's really gonna depend on who wins the election. I don't see a Biden administration allowing the merger to go through, honestly, while a Trump administration will be happy to rubber-stamp it.