Discover APR Reduction

[Anonymous]

Yesterday was my 1 year mark with Discover yay!!!

I had the option of 0% for 12 months or a permanent reduction down to 18.74%. 14.99%+ Prime

I chose the 18.74% permanent reduction; I pay my Discover card in full monthly so the 0% was not really something I needed. Also thought it might tempt me to splurge on something.

Hard to believe I started with a $200 Secured Discover last February.

I graduated in November and my limit has now been bumped to $1,500

I have an immense love for Discovers customer service!

I hope to one-day app for the Discover Miles because it levels out to 1.5% cash back on everything----- How long should I wait before applying for the Miles?

I was thinking perhaps on my 2 year anniversary with Discover? 

Thanks all!

[Chris679]

Why not just apply for it? Worst that happens is they say no.

[Anonymous]

Thanks for the encouragement, was denied because I have not had my current Discover card long enough. In bright news I now know that my Equifax fico is 705

[Anonymous]

It wasn't because of low score though I've checked and people get approved for Miles with 650+ scores

[joltdude]

Discover likes at least a year or more between apps for other cards they issue or for a second card.... (not cobranded)...

The *minimum* is a year between apps....

They pretty much autodecline if sooner...

This is not a case of score, but account policy...

-J

[Anonymous]

Thanks Jolt!

I was approved for it secured on 2/4/16

And my first statement cut on 3/11/16

Maybe in another couple months?

[Anonymous]

I wonder if they reset the clock when I graduated?

If so it will be November-December of this year before I can apply an be approved

[Anonymous]

No I've seen people graduate at the 12 month mark then 1 month later apply and get approved for another Discover Card.

Was it 366 days or more from the original approval date that you applied for the second card?

[Anonymous]

---

@Anonymous wrote:

Yesterday was my 1 year mark with Discover yay!!!

I had the option of 0% for 12 months or a permanent reduction down to 18.74%. 14.99%+ Prime

I chose the 18.74% permanent reduction; I pay my Discover card in full monthly so the 0% was not really something I needed. Also thought it might tempt me to splurge on something.

Hard to believe I started with a $200 Secured Discover last February.

I graduated in November and my limit has now been bumped to $1,500

I have an immense love for Discovers customer service!

I hope to one-day app for the Discover Miles because it levels out to 1.5% cash back on everything----- How long should I wait before applying for the Miles?

I was thinking perhaps on my 2 year anniversary with Discover? 

Thanks all!

---

Taking the permanent reduction is actually quite smart.  You've locked it in, and there should be another 0% offer if you need to use that down the line.  In a year, you can ask again (and probably get another few pts off the permanent rate), and keep working the lower APR.

Congrats.

[Anonymous]

Matt 367 from my calculations Feb 4th was the day the first statement opened up.