Amex or Discover

[Trudy]

I've not spent a lot of time seeking out new credit cards or comparing.  But now I'm nearing being ready  to venture outside of MC and Visa.  I think I know Amex is considered best for travel rewards and balance has to be paid in full each month although I think I've read they have revolving options now.  Discover is a better cash back card.  I don't travel outside of the country much so foreign benefits is not a concern for me.

Regardless of my profile (age, scores, etc) and no concern about income and DTI issues, it seems I can't get a high SL.  Small sample since I haven't app'd a new card since 2005 with the exception of a new CC a little over a year ago and a store card opened recently for a large purchase and a give me from the CU who financed my car a few years ago.  I took it since it was a 20K SL and no addition HP.

High SL is something I'm looking for.  The one card I did get over a year ago I only received a SL of 5K (profile better at this time than it was when I received a 20K card provided by the CU lender).  Can't get CLI and I believe all of this is related to not spending much on cards (Don't ever want to get back in the high UTL world).  However, I'd like a high CL card to allow for larger purchases I may need without maxing UTL, which is the only reason I opened the store card a few months ago because it would have exceeded the UTL I'm comfortable with on my other cards.

Summary - Looking for a different type of card (Amex or Discover), preferably cash back rewards and high SL or easy growth ability without running up my UTL.

Thoughts, suggestions?

[AverageJoesCredit]

With your stats you could get high limits from the right lender. Sometimes, NOT using credit cards or their limits can hurt you in that some lenders want to see you can handle high limits through your credit report.

A high limit from Amex or Disco is not a surefire thing no matter ones income or profile but in the case of Amex, those things can help tremendously especially after 61 days and the vaunted 3x possibilty. Now 5k may seem small potatoes to you or some, but sometimes you need to build on what you get. I like both cards so all depends what you want to spend your money on. Good luck

[Nomad3]

Discover doesn't have many options for cards, current SUB matches whatever cash back you earn first year. No AF. But you have to spend in quarterly categories.

Amex blue cash everyday is a good deal for gas/groceries, no quarterly categories. No AF. And Amex is also known for 3x CLI at day 61.

Discover will offer the best cash back, unless you have tons of spend on gas. Amex will probably have a higher limit, 3x CLI at day61 and no quarterly categories to worry about.

[Trudy]

Thanks for your response.  Didn't mean to make 5K sound like pennies but the sole purpose of higher limits for me is the ability to make large purchases when needed.  Hopefully this is not a regular occurrence, but I'm in need of certain items for my home that would cost near if not more than 5K.  Clearly my regular spending habits won't show a need, just want a cushion in those events.  Not looking for the likes of a Lowes, etc, because I don't want to be limited to a store and free to buy where I want and should a need be outside of home improvement.

I also have a 25K card but had some expensive repairs that I put on another card and transferred since this card could absorb it without too high UTL and due to a 0% balance transfer offer.  All other cards are from $2800 - $8800.  All opened between 12Y- 23Y+ ago.  They just won't grow.

[Anonymous]

I personally use discover and they were very generous with my SL even though I'm somewhat low income, I have friends that use the AMEX Everyday and they have said that SL is low but you can increase once you build history and they are pretty generous with their increases. I love Discover because of the way their CLIs go is you can request for $15,000 and if they don't approve you they give you a counteroffer ex: $7,500 instead of $15,000.

[Anonymous]

I definitely don’t have your credit profile but the discover it was much more generous on the SL than my Amex bce, both being my first card with either company.

[JNA1]

My experience was the opposite of others in that my AMEX SL was more than double what the Disco was ($10,500 AMEX vs $4000 Disco) but my profile was thicker when I got the AMEX. My best SL was BBVA, which has a prequal site that told me what the SL and APR would be before I applied, if you are in their coverage area. Apple Card (if you have an iPhone) also lets you know what your SL and APR will be with a SP before you apply, if you want to see where you might currently stand.

[Anonymous]

I think they’re both good just in different ways.

I’m partial to Discover because they were my first big credit line. They gave me $9500 in April when my other limits were $300-500. The card currently sits at $11500. The rotating categories are easy to keep track of. I don’t like the 4th quarter one as it’s Walnart Target and amazon.com. First year they match your cash back which is cool.

Amex offers 3x CLI after 60 days so if your starting line isn’t as high as you’d like, with good history with them it can be tripled and future cards all soft pull. Good grocery cash back. as well.

[AverageJoesCredit]

As you can see, in credit ,YMMV

If you could join Navy Federal though either your Military experience or a family member, you could see big limits. Penfed is an option anyone csn join but may be conservative at first. If you are under 5/24 and a Chase card csn work for you, Chase is known to give big limits to high income earners on their Saphire products. Boa can also start small but grow big depending on ones income and even more so with assets with them.

If you list what cards you currently have and what lenders, its possible you might get more strategic advice . Also what kind of things you like to buy. There are some big ballers here with alot of credit experience that can offer better suggestions thsn a LIEr like me

@K-in-Boston
@FinStar
@CreditCuriosity
@Gmood1
@Mahraja
@credit_is_crack

Just to name a few with vast experience with multiple lenders.

[Anonymous]

During the financial crisis ten years back, Discover kept giving me automatic credit line increases when other lenders were either holding my limits the same or cutting them based on the overall economy.

Also, not sure whether anyone else mentioned it, but Discover is generally less sensitive to high-utilization than other lenders.