Discover IT Converted to Discover IT Miles without Knowledge?

[Anonymous]

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@Anonymous wrote:

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And yeah... let's not go into how bad I am about impulse control. 

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Really?   *smirk*

I know what you're talking about....  in comprison to my 5 card pickup this spring.

[Aim_High]

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@Anonymous wrote:

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@Anonymous wrote:

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And yeah... let's not go into how bad I am about impulse control. 

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Really?   *smirk*

I know what you're talking about....  in comprison to my 5 card pickup this spring.

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I know, right? 

Before I got on MyFico, my last major credit actions were closing several accounts a few years ago to simplify my file.   

MyFico Forums has widened my knowledge of cards and lenders. 

But it's also greatly increased my itchy "app finger". 

The only impulse app I had was my GS Apple card in August.

("It's only a soft pull" ... and I was curious ... lol  )

But I have a mini-list of other selected cards and been trying to figure out the timing and how they will fit into my overall lineup.  (I don't typically app just for the SUB.)  

Resisting the urge to app before I know I'm ready is not easy.   Even though I've been on what I would consider a minor run, I'm only 3/6, 4/12, 5/24 for personal cards.   I don't want to blow any future apps into jeopardy due to the dreaded 'too many new accounts.'  (However, inquiries are low to moderate at TU:1  EQ:0  EX:5)

[Anonymous]

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@Aim_High wrote:

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I don't want to blow any future apps into jeopardy due to the dreaded 'too many new accounts.'  (However, inquiries are low to moderate at TU:1  EQ:0  EX:5)

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Sniping cards avoids most of the issues you mentioned.

Pick your targets and dig deep to figure out how they act when you apply beforehand.  I have all my inq's / approvals and such in a spreadsheet and break it out into x/6 and x/24 running totals that change with the date automatically.  If I'm light on one CR then that's my focus for a couple of apps when the time comes.  If I'm going to buckle down and aim for a flagship then that just means I focus more on CLI's until the door opens for that particular target.  

Even in the last haul of 5 new accounts I successfully pulled off one of the most sensitive lenders around Barclay and even bumped them from an IL of 11K to 25K with a quick 2 min phone call and the CL has stuck for the past 6 months unlike others prior experience with them as well as my own experience with them many years ago.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I mean I can't really say anything about the account bloat... after my triple play last night I hit 11 accounts since June...

But unless Disco changes their business model away from asset-backed securities, which I have heard nothing to indicate such a change is coming, they need to attract customers that help to normalize their bottom line. They don't have a travel card, they nerfed every single card benefit they had, and they don't have the acceptance of VISA  and MasterCard. Without rewards, they lose the interest of the prime market and without the prime market, ABS models are too risky to investors. 

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Wow, that's apps on steroids. I'm thinking Sammy Sosa and Barry Bonds territory. I'd do more, but I don't want to spread out the spend so thin that they all get a trickle. I like to put some spend on every card.

I think it was a mistake for DISCO to nerf their benefits. Made me not want to buy merchandise with their card. They boxed themselves into 5% categories and some 1% spend,  at least on my end.

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That's exactly the problem with Disco right now. If they still had Discover Offers, I would probably use the card more. I know NFCU has gotten a lot more business as a result of Member Deals.

And yeah... let's not go into how bad I am about impulse control. 

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There's always a chance, if they lose enough swipes, they bring back their deals. Of course, they would brand it as, "You've spoken, we listened".

Disco does have some occasional invitation-only deals. I took advantage of one last month: set your cell phone bill on autopay using your DISCOVER card and after 2 payments, receive a $20 statement credit. They have one here and there for merchants too.

Btw, I used my DISCOVER card to pay for a round of golf today. I never do that. But I only have $6 this billing period on 1%. I don't want to chance the Miles account conversion punishment lol.

[kdm31091]

The loss of Discover Deals was annoying, although I can't say I used it tremendously often. It was nice for occasional good deals but it wasn't a must have. Many issuers have gotten away from the bonus shopping portal thing. My guess is things like Ebates/Rakuten which don't require a specific issuer, have become more popular, so issuers don't feel the need to compete (or it's not worth trying to). It's either that or the services just weren't utilized much. Citi, Barclay, Amex, BoA etc have had bonus point malls in the past and gotten rid of them. (There may still be one or two Barclay cards that allow access to their portal; not sure). Citi's still comes up if you search for it, but I've heard of exactly zero people using it, so I don't think it actually works.

[Anonymous]

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@kdm31091 wrote:

The loss of Discover Deals was annoying, although I can't say I used it tremendously often. It was nice for occasional good deals but it wasn't a must have. Many issuers have gotten away from the bonus shopping portal thing. My guess is things like Ebates/Rakuten which don't require a specific issuer, have become more popular, so issuers don't feel the need to compete (or it's not worth trying to). It's either that or the services just weren't utilized much. Citi, Barclay, Amex, BoA etc have had bonus point malls in the past and gotten rid of them. (There may still be one or two Barclay cards that allow access to their portal; not sure). Citi's still comes up if you search for it, but I've heard of exactly zero people using it, so I don't think it actually works.

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I mostly take advantage of the ones that credit your account for paying an insurance bill, cell phone bill, using it at Lowe's,  and a few good merchants. Amex is still going strong with those and is the best for me. I got about $400 in deals the last 12 months. $150 is the average. Propel Amex is a close second. 

I've tried Citi's once, and yes it doesn't work. It's a facade.

[Anonymous]

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@Anonymous wrote:

https://www.discover.com/credit-cards/card-conversion/  All you have to is login and select which program you want to be under and hit submit.

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After logging in to Discover and clicking that URL, I'm told nothing to do until 10/27/2019.  ??  Weird.

I have the original Discover 1% back card from like 25 years ago, only really used for one or two small monthly purchases if no category spend.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

https://www.discover.com/credit-cards/card-conversion/  All you have to is login and select which program you want to be under and hit submit.

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After logging in to Discover and clicking that URL, I'm told nothing to do until 10/27/2019.  ??  Weird.

I have the original Discover 1% back card from like 25 years ago, only really used for one or two small monthly purchases if no category spend.

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Well, if you want to switch it up then go back after that date.  Not sure why there would be a waiting period though if nothing is in process in the background you're not aware of.

[ChargedUp]

My first year with Discover IT, I put about $40K in spend through it and the appreciation showed with large and regular CLI's. But that was also when I was only 3 cards deep getting back in the credit card game. (Cap One Union +, Disco and CFU) Since then, my options have grown exponentially and aside from useful 5% categories, the only spend I've left on the card is my auto insurance at around $160/month. (Mostly due to the hassle of moving it to another card.) The CLI's have decreased to $500 now and then, but they still have been content with this since 2017.

The loss of Discover Deals cut a lot of spend that my wife would put on the card, nerfing even more transactions they could've had. I'll never understand why they made that move. She occasionally finds something she can use on Amex Deals or on the Chase cards, but not as often as Discover would be a match.

Discover has got to realize that most people have at least a 1.5% general spend card by now that they can use when the 5% categories don't line up in their favor. (Cap One's QS is an easy grab for anyone who also qualifies for Discover.) Discover could bump the IT card to 1.5% and keep the rotating 5% categories, making a tidy general spend card that covers both bases and one up's most of the flat rate rewards cards out there, thus capturing more swipes. This would also essentially make the Miles card a moot point, which would save money on Discovers end by eliminating a card product that doesn't have much of a following. (Chase could do the same with the Freedom twins and one up Discover, but that would essentially be Discovers only competition in this case.)

[Anonymous]

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@ChargedUp wrote:

My first year with Discover IT, I put about $40K in spend through it and the appreciation showed with large and regular CLI's. But that was also when I was only 3 cards deep getting back in the credit card game. (Cap One Union +, Disco and CFU) Since then, my options have grown exponentially and aside from useful 5% categories, the only spend I've left on the card is my auto insurance at around $160/month. (Mostly due to the hassle of moving it to another card.) The CLI's have decreased to $500 now and then, but they still have been content with this since 2017.

The loss of Discover Deals cut a lot of spend that my wife would put on the card, nerfing even more transactions they could've had. I'll never understand why they made that move. She occasionally finds something she can use on Amex Deals or on the Chase cards, but not as often as Discover would be a match.

Discover has got to realize that most people have at least a 1.5% general spend card by now that they can use when the 5% categories don't line up in their favor. (Cap One's QS is an easy grab for anyone who also qualifies for Discover.) Discover could bump the IT card to 1.5% and keep the rotating 5% categories, making a tidy general spend card that covers both bases and one up's most of the flat rate rewards cards out there, thus capturing more swipes. This would also essentially make the Miles card a moot point, which would save money on Discovers end by eliminating a card product that doesn't have much of a following. (Chase could do the same with the Freedom twins and one up Discover, but that would essentially be Discovers only competition in this case.)

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If Disco made IT a 1.5/5 card, I would definitely use it a lot more. The numbers probably work out to too much of a loss though not offsetting the 5% with 1%.