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Discover IT approved, with a LOW credit limit and a HIGH APR :/

cabronsaim
Contributor

Discover IT approved, with a LOW credit limit and a HIGH APR :/

Should I still celebrate?
They didnt like the fact that i had 2 cards close to max ...lol.
Im getting 3.99 intro Apr, then 22.9%....
With 1200 credit limit....
They did deny me about a year ago, so this feels a bit better than last.
3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL
Message 1 of 13
12 REPLIES 12
09Lexie
Moderator Emerita

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

You should celebrate! Discover is awesome.
Welcome to the Discover family.
Message 2 of 13
webhopper
Moderator Emeritus

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

You should celebrate... My limit started around there, and look where it is now.. 13.5k.

 

dont feel bad, celebrate!  Use it wisely, pay in full, dont exceed your limit.  Discover is nice about doing Auto CLIs


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 676 EQ 676 EX 676
Filed Chapter 13 on 06/01/2017 after job loss.

Goal: FHA Construction Loan

Take the myFICO Fitness Challenge
Message 3 of 13
youngandcreditwrthy
Senior Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

Congrats!!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 4 of 13
asteroidblues86
Regular Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

Congrats. You should be happy. Just PIF. Discover slowly gives auto increases over time with regular usage.

Message 5 of 13
cabronsaim
Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

Uhmm, starting to feel better now...
Any of you can tell me the bigger difference between this and discover more?
3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL
Message 6 of 13
sarkell
Frequent Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

I got approved too for 3k but my utilization was low 11% and I have good income plus an account from 8 years ago still on my credit report. I don't know about my apr yet it was instant. I'll find out next week.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


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Message 7 of 13
andre181
Established Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

You should be happy. Discover started me off with a CL of $1,080 (random number!) and 3 years later, its at $15,300.

 

The biggest difference between More and IT is the IT earns at least 1% everywhere all the time, plus the 5% in bonus catagories. The More had a $3000 spending requirement before you started earning a full 1%.

 

With the IT, they also will not charge you a late fee on your first late payment, and will never charge you a penalty APR. 

Discover IT $35K | FNBO Visa $30K | Cash+ Visa Sig $19.5K | Southwest Premier $16K | Priceline $15K | Citi Forward $14.3K | US Bank Plat $14K | Commerce Bank $13K | CSP $13K | CSR $10K | Sallie Mae World MC $10K | Lowe’s Consumer 10K | BoA Cash Rewards 1-2-3 Sig $7.5K | Fidelity Visa $7K | Citi Double Cash $6.5K | WF Cash Back Visa $5.4K | Capital One Cash Rewards $5K | AMEX BCE $3.9K | Freedom $2.5K | Younkers/Comenity $2.4K | Kohl’s 1.5K | Target $1.4K | EX FICO (from AMEX): 768, TU FICO (from Discover): 797, AAoA: 4.4 years
Message 8 of 13
asteroidblues86
Regular Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/


@andre181 wrote:

 

 

The biggest difference between More and IT is the IT earns at least 1% everywhere all the time, plus the 5% in bonus catagories. The More had a $3000 spending requirement before you started earning a full 1%.

 

 



And More never gives 1% at discount stores such as Wal-mart or warehouse clubs such as Sam's Club.

 

Message 9 of 13
cabronsaim
Contributor

Re: Discover IT approved, with a LOW credit limit and a HIGH APR :/

Ohhhhh.
5% in rotating cats sounds nice.:-)
3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL
Message 10 of 13
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