Discover Shutdowns, should I worry?

[Isacking97]

Do I need to worry?

I have 5 cards 

Data Points: 

Discover $18,400 Util: 5% (Carry Balance at 0% APR)

AMEX ED: $13,200 Util: 6% (Pay in full every month)

AMEX BCP: $10,000 Util: 7% (With a balance since last month, well be paid in full this month)

Citi Costco: $1,200 Util: 27% (Pay in full every month)

BBPR VIsa: $600 Util: 0% (Pay In full every month)

Car Loan: 36 month (24 months left)

Student Loan: Deferred (In-School)

I only carry balances on Discover (Balance transfers) and maybe for a month or 2 with amex 

Income: 15k (Student with Part-time job)

Household Income: $40,000

Credit Card Info on file 16k-23k

Fico: TU 761 EX 756

I know i have a lot in my plate, but for some I keep paying and keep everything under control.

One of the cards my parents use it

[Jnbmom]

---

@Isacking97 wrote:

Do I need to worry?

I have 5 cards 

Data Points: 

Discover $18,400 Util: 5% (Carry Balance at 0% APR)

AMEX ED: $13,200 Util: 6% (Pay in full every month)

AMEX BCP: $10,000 Util: 7% (With a balance since last month, well be paid in full this month)

Citi Costco: $1,200 Util: 27% (Pay in full every month)

BBPR VIsa: $600 Util: 0% (Pay In full every month)

Car Loan: 36 month (24 months left)

Student Loan: Deferred (In-School)

I only carry balances on Discover (Balance transfers) and maybe for a month or 2 with amex 

Income: 15k (Student with Part-time job)

Household Income: $40,000

Credit Card Info on file 16k-23k

Fico: TU 761 EX 756

I know i have a lot in my plate, but for some I keep paying and keep everything under control.

One of the cards my parents use it

---

With disco lately they have been requesting 4506T form mostly for new accounts not sure if existing customers will be next. YOUR income must match YOUR tax return, if it doesn't they are shutting people down. Again I am not sure if this has happened to existing accounts?

That's why I stress always use your income or household with spouse and make sure it matches tax returns. It baffles me why people use their parents income on credit card applications. My daughter is a college student works and we support her. She uses her own income . This way she can prove her income if she needs to one day with a creditor.

[Anonymous]

The bottom line is if they select you and your income doesn't match your tax return, you're going to lose the card. Unless you're married and file jointly, using household income with Discover isn't recommended right now. 

I wouldn't freak about it though. There's nothing you can do about it and it may not even be something that ever comes up. 

[M_Smart007]

OP ..I would not even worry.

[Jnbmom]

---

@M_Smart007 wrote:

OP ..I would not even worry.

---

Yes I wouldnt either at the moment. I just suggest not trying a second card with them.

So far "it looks" like these requests are for new apps, but who knows what can happen. we just have to wait and see I suppose.

[CreditCuriosity]

wouldnt worry about things you cant worry about or out of your control or will drive you nuts..  strange how your CL > your income is only weird thing.  Hopefully you didnt use household income?

[thornback]

---

@Jnbmom wrote:

---

@Isacking97 wrote:

Do I need to worry?

I have 5 cards 

Data Points: 

Discover $18,400 Util: 5% (Carry Balance at 0% APR)

AMEX ED: $13,200 Util: 6% (Pay in full every month)

AMEX BCP: $10,000 Util: 7% (With a balance since last month, well be paid in full this month)

Citi Costco: $1,200 Util: 27% (Pay in full every month)

BBPR VIsa: $600 Util: 0% (Pay In full every month)

Car Loan: 36 month (24 months left)

Student Loan: Deferred (In-School)

I only carry balances on Discover (Balance transfers) and maybe for a month or 2 with amex 

Income: 15k (Student with Part-time job)

Household Income: $40,000

Credit Card Info on file 16k-23k

Fico: TU 761 EX 756

I know i have a lot in my plate, but for some I keep paying and keep everything under control.

One of the cards my parents use it

---

With disco lately they have been requesting 4506T form mostly for new accounts not sure if existing customers will be next. YOUR income must match YOUR tax return, if it doesn't they are shutting people down. Again I am not sure if this has happened to existing accounts?

That's why I stress always use your income or household with spouse and make sure it matches tax returns. It baffles me why people use their parents income on credit card applications. My daughter is a college student works and we support her. She uses her own income . This way she can prove her income if she needs to one day with a creditor.

---

---

@Jnbmom wrote:

---

@Isacking97 wrote:

Do I need to worry?

I have 5 cards 

Data Points: 

Discover $18,400 Util: 5% (Carry Balance at 0% APR)

AMEX ED: $13,200 Util: 6% (Pay in full every month)

AMEX BCP: $10,000 Util: 7% (With a balance since last month, well be paid in full this month)

Citi Costco: $1,200 Util: 27% (Pay in full every month)

BBPR VIsa: $600 Util: 0% (Pay In full every month)

Car Loan: 36 month (24 months left)

Student Loan: Deferred (In-School)

I only carry balances on Discover (Balance transfers) and maybe for a month or 2 with amex 

Income: 15k (Student with Part-time job)

Household Income: $40,000

Credit Card Info on file 16k-23k

Fico: TU 761 EX 756

I know i have a lot in my plate, but for some I keep paying and keep everything under control.

One of the cards my parents use it

---

With disco lately they have been requesting 4506T form mostly for new accounts not sure if existing customers will be next. YOUR income must match YOUR tax return, if it doesn't they are shutting people down. Again I am not sure if this has happened to existing accounts?

That's why I stress always use your income or household with spouse and make sure it matches tax returns. It baffles me why people use their parents income on credit card applications. My daughter is a college student works and we support her. She uses her own income . This way she can prove her income if she needs to one day with a creditor.

---

---

@Jnbmom wrote:

---

@Isacking97 wrote:

Do I need to worry?

I have 5 cards 

Data Points: 

Discover $18,400 Util: 5% (Carry Balance at 0% APR)

AMEX ED: $13,200 Util: 6% (Pay in full every month)

AMEX BCP: $10,000 Util: 7% (With a balance since last month, well be paid in full this month)

Citi Costco: $1,200 Util: 27% (Pay in full every month)

BBPR VIsa: $600 Util: 0% (Pay In full every month)

Car Loan: 36 month (24 months left)

Student Loan: Deferred (In-School)

I only carry balances on Discover (Balance transfers) and maybe for a month or 2 with amex 

Income: 15k (Student with Part-time job)

Household Income: $40,000

Credit Card Info on file 16k-23k

Fico: TU 761 EX 756

I know i have a lot in my plate, but for some I keep paying and keep everything under control.

One of the cards my parents use it

---

With disco lately they have been requesting 4506T form mostly for new accounts not sure if existing customers will be next. YOUR income must match YOUR tax return, if it doesn't they are shutting people down. Again I am not sure if this has happened to existing accounts?

---

Yes, it's happened to existing accounts as well.

OP, not much you can do but wait and see if the request ever even comes your way.   No point in worrying about it.

[Isacking97]

---

@CreditCuriosity wrote:

wouldnt worry about things you cant worry about or out of your control or will drive you nuts..  strange how your CL > your income is only weird thing.  Hopefully you didnt use household income?

---

with Disco No, Just a estimate about 16k

[Jnbmom]

@thornback 

I wasn't aware of existing accounts, hmmmm.

[Jnbmom]

---

@Isacking97 wrote:

---

@CreditCuriosity wrote:

wouldnt worry about things you cant worry about or out of your control or will drive you nuts..  strange how your CL > your income is only weird thing.  Hopefully you didnt use household income?

---

with Disco No, Just a estimate about 16k

---

then you are good)