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Discover 0% APR offer & thoughts

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Chazzay12
Frequent Contributor

Discover 0% APR offer & thoughts

I recently reached out to Discover and asked if I could receive an APR reduction. Instead, they offered me 0% APR for a year. Not bad at all. I don't pla to carry any balances, and it's my lowest limit card, but this is really neat that they do this. Very impressed - and the rep was extremely helpful/nice. I got this card May 2022. 

I've been contemplating on applying for another discover, and am prequalified for them all, but haven't pulled the trigger. That cash back bonus was very nice. Also my current card seems a bit stuck with them. I put some regular spend on it, but no Cli. Calling in just reminded me of their excellent customer service I've always received from them ...which is always a plus. 

Discover It (Student) $1500 | Capital One QS $2300 | Amex BCE $6000 | Chase FU $3200 | Amex Green NPSL | CSP $6000 | Discover it 3k
Car loan w/ Langley 3.5%
Homeowner since April 2023

Starting Score: 580s
Current Score as of May 2023: EX 692, TU 691, EQ 693
Goal Score: 700+


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Message 1 of 11
10 REPLIES 10
GatoradeZeroGuy
Valued Contributor

Re: Discover 0% APR offer & thoughts


@Chazzay12 wrote:

I recently reached out to Discover and asked if I could receive an APR reduction. Instead, they offered me 0% APR for a year. Not bad at all. I don't pla to carry any balances, and it's my lowest limit card, but this is really neat that they do this. Very impressed - and the rep was extremely helpful/nice. I got this card May 2022. 

I've been contemplating on applying for another discover, and am prequalified for them all, but haven't pulled the trigger. That cash back bonus was very nice. Also my current card seems a bit stuck with them. I put some regular spend on it, but no Cli. Calling in just reminded me of their excellent customer service I've always received from them ...which is always a plus. 


2nd discover cards are more prone to prompt 4506-C requests from discover, if that would be a dealbreaker for you

 

otherwise a second discover card (particularly a non-student one) seems like a no-brainer

 

I'm unsure how bucketed student discover cards are compared to the regular versions, maybe others can chime in 

Starting FICO 8:

Current FICO 8:

1/6, 5/12, 12/24




Message 2 of 11
Chazzay12
Frequent Contributor

Re: Discover 0% APR offer & thoughts

@GatoradeZeroGuy  the student "it" I have is the same as the normal rotating 5% card. But yea, it's definitely possible they bucket those cards differently. That's my thinking. 

Of course I'd like to avoid any sort of 4506 request, as anyone would. Not sure that'd be a dealbreaker. 

Discover It (Student) $1500 | Capital One QS $2300 | Amex BCE $6000 | Chase FU $3200 | Amex Green NPSL | CSP $6000 | Discover it 3k
Car loan w/ Langley 3.5%
Homeowner since April 2023

Starting Score: 580s
Current Score as of May 2023: EX 692, TU 691, EQ 693
Goal Score: 700+


Take the myFICO Fitness Challenge
Message 3 of 11
Kforce
Valued Contributor

Re: Discover 0% APR offer & thoughts


@GatoradeZeroGuy wrote:

2nd discover cards are more prone to prompt 4506-C requests from discover,

if that would be a dealbreaker for you

 

otherwise a second discover card (particularly a non-student one) seems like a no-brainer

 

I'm unsure how bucketed student discover cards are compared to the regular versions, maybe others can chime in 


^^^^ This

 

Message 4 of 11
Innov8v
Member

Re: Discover 0% APR offer & thoughts

That 0% APR deal, they will offer you again 6 months after this 0% cycle ends. You can just ask for it then. I run 2 Discover cards for this reason. They're timed in such a way that I always have a 0% APR emergency card hanging around. I'm on my 3rd cycle of 0% with Discover now. 

Message 5 of 11
md_rebuild
Regular Contributor

Re: Discover 0% APR offer & thoughts

I have some balances on my cards, and got an offer from Discover (I already have 1 card - from my rebuild) for 18mo 0% interest for balance transfers.   Pulled the trigger, got a $3K CL, and have moved some balances to this card.

 

And I thought I was done with Discover!

BK7: Discharged Sept 2019
2/25/24:

Message 6 of 11
Chazzay12
Frequent Contributor

Re: Discover 0% APR offer & thoughts


@Innov8v wrote:

That 0% APR deal, they will offer you again 6 months after this 0% cycle ends. You can just ask for it then. I run 2 Discover cards for this reason. They're timed in such a way that I always have a 0% APR emergency card hanging around. I'm on my 3rd cycle of 0% with Discover now. 



Wow, good to know. Thanks! Great idea

Discover It (Student) $1500 | Capital One QS $2300 | Amex BCE $6000 | Chase FU $3200 | Amex Green NPSL | CSP $6000 | Discover it 3k
Car loan w/ Langley 3.5%
Homeowner since April 2023

Starting Score: 580s
Current Score as of May 2023: EX 692, TU 691, EQ 693
Goal Score: 700+


Take the myFICO Fitness Challenge
Message 7 of 11
SUPERSQUID
Valued Contributor

Re: Discover 0% APR offer & thoughts


@Chazzay12 wrote:

I recently reached out to Discover and asked if I could receive an APR reduction. Instead, they offered me 0% APR for a year. Not bad at all. I don't pla to carry any balances, and it's my lowest limit card, but this is really neat that they do this. Very impressed - and the rep was extremely helpful/nice. I got this card May 2022. 

I've been contemplating on applying for another discover, and am prequalified for them all, but haven't pulled the trigger. That cash back bonus was very nice. Also my current card seems a bit stuck with them. I put some regular spend on it, but no Cli. Calling in just reminded me of their excellent customer service I've always received from them ...which is always a plus. 


My personal choice would depend on what I needed and my credit limit on the card.

If i had a balance on another account that I wished to pay down over the next year I would opt for the BT offer.

If I had low or no balance on my other cards I would opt for the rate reduction.

And thirdly it would depend on my credit limit on the Discover card, you said you had a low cl but didnt state how low. perhaps the cl is too low to consider a BT, In that case I would opt RR.

{ BK7 DC 12/2019 } target 1600/ kohls Visa 7000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 / firestone 2800 /legacy 3000 /first savings bank cc 3000/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4k, Penfed PCR signature visa 10k/ penfed gold 7.5k NFCU >signature visa cash rewards 21700/bread cashback amex 8000

>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 40k
Total utilization around 20 pct depending on my current usage/needs
Ficos in the 680 - 690 range, the 9's slightly higher than the 8's
My vantage scores 708 - 711
TCL - about 110k
Retired since 2017
Message 8 of 11
mgood
Valued Contributor

Re: Discover 0% APR offer & thoughts


@GatoradeZeroGuy wrote:

 

2nd discover cards are more prone to prompt 4506-C requests from discover, if that would be a dealbreaker for you

 

otherwise a second discover card (particularly a non-student one) seems like a no-brainer. . . .


I was not aware of that. Getting a 2nd Discover it Cash Back is next on my list. Probably late this year. I want to start rotating them so I always have one getting the double cash back.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 771, TU8 762, EX8 774 as of February 27
Goal Score: EQ8 780, TU8 780, EX8 780

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AZE7 - 2% Utl - New Accts: 2/6, 4/12, 6/24
Message 9 of 11
JoeRockhead
Senior Contributor

Re: Discover 0% APR offer & thoughts

I got a 2nd Discover card back in March. I went with the BT version which is essentially the same as their cash back cards, but had a 0% for 15 months offer. Instant approval, no 4506 requests, HP on EX. YMMV

Message 10 of 11
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