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Upset with Discover - Approved

jayjayhawaii
Regular Contributor

Upset with Discover - Approved

I have about $2,700 of interest bearing balance outstanding on my cards, and wanted a bal transfer card to nix that.

I've looked at BoA and Citi, but neither allows me to fo pre-qual nowadays, so when I got the pre-qual from Disco I figured why not.

 

SL: $2,000

 

I tried to recon, but they won't budge for the first 12 months. The limit on my current Disco is $5,500 which would have allowed me to bal transfer everything and still be under <50% util on the bal transfer card.

Is there any reason for me to keep this card open? The HPs hurt lol, but I guess 10% cashback the first year is nice..

Credit Cards:


Misc Revolvers:

Current FICO8:


Wish List:


2017: $200 secured card
2021: $120,000+ total credit line
17 REPLIES 17
AllZero
Super Contributor

Re: Upset with Discover - Approved

Congratulations on your approval! I would think the cash back is incentive to keep the card open. Enjoy the rewards.
Message 2 of 18
Ficoproblems247
Valued Contributor

Re: Upset with Discover - Approved


@AllZero wrote:
Congratulations on your approval! I would think the cash back is incentive to keep the card open. Enjoy the rewards.

+1. You took the inq and the new account penalty, you may as well earn 10% on some rotating categories for it. That's pretty hard to beat. 


FICO 8: June '21 EX 751 EQ 746 TU 744
Message 3 of 18
blindambition
Community Leader
Senior Contributor

Re: Upset with Discover - Approved

Congrats on the approval!!! It's still a useful card and will grow.

Theres no guarantee on approval, let alone starting limit. Always consider other options. A CU might provide larger limit, they typically do, but not a guarantee. Many have BT offers and options.

Message 4 of 18
kittycreditmeow
Frequent Contributor

Re: Upset with Discover - Approved

Congratulations on the disco approval. I know I personally would love to be in that position with disco right now but I can totally understand why you would be disappointed with the SL, especially if you already have one card with them that's 5K+. I would def hold onto it but that's just me. 

Credit Cards, Loans & Store Cards

Bank and Credit Union Memberships


Available Credit - $10,600
Util: 16%. Inquiries: TU: 43 EX: 31 EQ: 22
Gardening Until: March 28, 2023
AaOA: 1 Year & 6 Months

Fico 8 Scores Current as of March 2021

Fico 8 Scores Post BK

Bankruptcy Discharged: November 1, 2019
Message 5 of 18
M_Smart007
Epic Contributor

Re: Upset with Discover - Approved

Congratulations on your approval! ...

 

I know it is a knee jerk reaction to close it, but weigh the benefits of keeping it open?.

Message 6 of 18
AverageJoesCredit
Mega Contributor

Re: Upset with Discover - Approved


@jayjayhawaii wrote:

I have about $2,700 of interest bearing balance outstanding on my cards, and wanted a bal transfer card to nix that.

I've looked at BoA and Citi, but neither allows me to fo pre-qual nowadays, so when I got the pre-qual from Disco I figured why not.

 

SL: $2,000

 

I tried to recon, but they won't budge for the first 12 months. The limit on my current Disco is $5,500 which would have allowed me to bal transfer everything and still be under <50% util on the bal transfer card.

Is there any reason for me to keep this card open? The HPs hurt lol, but I guess 10% cashback the first year is nice..


Keep it. With your scores and im going to assume good income if you are here on myFico lol, you should be able to pick up another cc to cover bt  even with low sl. My rec is definetly get into a CU , most have excellent bt options or low apr cards that can be used even after a promo is done

Message 7 of 18
CreditAggie
Senior Contributor

Re: Upset with Discover - Approved

Congratulations on your Discover approval! It's a great card with a nice sign-up bonus (Cashback Match). I got an auto-CLI after the first year. Treat them well and they will treat you well. There's no harm in keeping the card since you already took the HP. 

Current Cards (in order of approval):


Current FICO 8 | 9:

Credit Age:

Inquiries (24 month):

Banks & CUs:

Goal Cards:



Currently: 2/6, 2/12, 5/24
Message 8 of 18
MyFault
Valued Contributor

Re: Upset with Discover - Approved

Congrats on your approval



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Message 9 of 18
gdale6
Moderator

Re: Upset with Discover - Approved

Grats on the second Disco and it will grow over time!

Message 10 of 18
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