2nd Discover

[Anonymous]

Hello, I've had my Discover almost 2 years and $30+ CL. I'd like to open a second IT card to avoid a reduction (due to spend or income) and increase my total CL for all cards. I'm pre-approved.
Does Discover allow you to transfer part of a credit limit to a new card?
Is there a limit to the total CL you can have on both cards?
What is the best way to go about this?
Thank you in advance.

[Anonymous]

I think the first card would have to be eligible for a limit increase for it to allow you to either combine or move limits to another Discover card.

[FinStar]

IIRC, in the event that Discover UW feels your current exposure is on the high end, they may conditionally approve a 2nd CC by reducing the amount of the existing CC. Again, provided that's one of the stipulations upon approval.

Or, they may likely approve the 2nd one, but with a much lesser SL. If the latter occurs, then you'd have to be eligible for a CLI before you can reallocate limits between the two CCs. I'm sure other folks can chime in on similar outcomes.

[Anonymous]

That's very helpful! Thank you both.

[wasCB14]

I must be missing something. Why not just ask for a CLI? And if Discover thinks a CLD is necessary in the future, how does a second card stop Discover from taking whatever AA it feels is appropriate for the customer?

[Anonymous]

I must be missing something. Why not just ask for a CLI?

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My last CLI just put me over $30k. I don't want to do the paperwork for a CLI more than that and honestly I doubt they'll give me more. 

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@wasCB14 And if Discover thinks a CLD is necessary in the future, how does a second card stop Discover from taking whatever AA it feels is appropriate for the customer?

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I suppose nothing will stop an AA, though I would think it's odd since they just gave me the CLI. I just feel that the CL spread out between two cards would be better than a high limit on a single card. I could be wrong. Plus one gave me the 5% categories and the other gave me the 2% on gas, so the best of both worlds. 

[AverageJoesCredit]

Discover may not even ask for POI until maybe you are over 50-60k. You might have plenty of growth still on this card especially if you keep using it.

However excellent point on perhaps opening up a second card to differentiate the bonus categories. A Chrome and an It, CHROME IT, Sounds good. You may even get another year of double cash back. Worth a shot imo

[wasCB14]

Well...it does seem a little odd that someone with a profile that supports a $30k+ Discover would find a 2% gas bonus category appealing.

[Anonymous]

AverageJoesCredit: Alas, they only gave me $3k for the second. No cash back match. That's okay, I'll wait for the realloc and take some from the other card. 

wasCB14: "a profile that supports a $30k+ Discover"....All it took was a very good credit score and patience (3 CLI), not a high income. So yes, 2% back on gas is a nice perk  to me b/c have you seen the price of gas?! ;-) 

[wasCB14]

There are cards that give 2% or more on everything. If a gas category is important to you, you could easily get more than that.