second DISCOVER IT card

[Anonymous]

I have a question? What is the purpose of having a second Discover IT card? Use it, wait for the cash match comes, then cancel the card? and re-apply? 

[Anonymous]

That's 3 questions. 

Yes, you get the 2nd card when cashback match is over (you can't apply for the 2nd one until the old one is 1 year old anyway) but you don't close the old one, some will keep the old one as a backup for the 5% catagory ($1500 max per quarter), some will wait for the new one to be eligible for CLI and request to combine the old with the new.

[AverageJoesCredit]

Exactly, you could also get a second one to have a different Discover like the Miles which can be like 3% cash back first year if I understand correctly. Some of us cant get good cli on the first so trying a second one is another chance. Though not guaranteed, getting cashback match again is a huge factor for many.

[Anonymous]

I got my second Discover IT card in March for several of the above-listed reasons: (1) to have a card with a better SL and - one hopes! - better CLI prospects now that I'm further along in my credit journey, and to be able to combine the older card next spring into the new card providing a CLI is available at that time; and (2) to have a second go-round with Cash Back Match; I didn't exploit it as actively as I could have with my older card, so I'm working the new card much more actively this time and should be able to get a really good chunk of CB next spring/summer.

[Anonymous]

I got two It cards because there are only two 5% categories I use. For the other half of the year I'd rather use the 2% CB, especially the 4% for the first year. I've seen others get a second of the same card to maximize the 5% categories. I was thinking a second AMEX but I didn't get any CLI over the year (no 3x for me!) & Discover has almost doubled a generous SL.
My plans are to reallocate part of my old limit to my new, then take CLIs on both. Some keep both and use them. Or just let them age. Some reallocate all of the limit to the one card after the first three months. Still other people will close them and move on to the next card. It all depends on what you're looking for.