Go disco? or no?

[ibebarrett]

I've been thinking about getting a discover card next, given my situation I believe it may benefit my profile. For the record this is not something I'm looking at app'ing for in the near future, trying to let my inquiries cool off for a second first! That being said I'm curious what ya'll think, whether it's a flat no or a different bank recommendation, anything helps!

Background:

So I know it's an important factor to lenders to see that you're responsible with larger *bankcard* credit limits, and I doubt my current cards will grow much past where they're currently at. From what I've read, Discover seems to be the quickest to handout CLIs(I am aware that they are pumping the breaks though), and I'd love to add something to my portfolio that will show responsible use of a larger line. I have a Synchrony account that grown tremendously and is my largest line, which is great for agg util, but I'd like to see a bigger bankcard tradeline before I hop on the sapphire train. My main focus is to rack up URs, but a little cashback every now and then doesn't hurt, so I was looking at Discover IT because 5% will rack up a decent amount depending on the quarter, and I could easily make use of the $1500 max at least 2 Q's of the year. Plus it would be nice to have an extra account adding to my on time payments, I'd love to drown out those old Student Loan lates!

Anyway here are some stats:

Redstone FCU secured card: $0/350, 46 months....one single monthly recurring charge

Cap1 Quicksilver: $0/1950, 44 months....pretty sure it's bucketed, one single monthly recurring charge

Synchrony CareCredit: $0/12k, 6 months....all vet bills just to keep them in one place

Citi Costco: $300/5500, 3 months...Costco and gas

Chase FU: $1300/2800, 3 months....everything else until 3% is over

Is this sound reasoning? I doubt any of my bankcards will grow much more and I'd love to have a stronger bankcard profile. Would there be a better bank to go to, or should I just blow off this idea? Thanks guys!

[Anonymous]

Disco Miles @ 3% for the first year similar to CFU would be a better bet for max spending vs dealing w/ quarters and categories.

[ibebarrett]

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@Anonymous wrote:

Disco Miles @ 3% for the first year similar to CFU would be a better bet for max spending vs dealing w/ quarters and categories.

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I appreciate the suggestion, but I just plan on keeping my travel through Chase, I like their UR system, and once I have my CSR that freedom will be 2.25% so I'd completely lose use of the Disco Miles, where as with the rotating 5% I'll have times out of the year where IT excels. I'm not really worried about keeping up with quarters, and the only Q I'd be concerned about would be Target/Walmart/Amazon, but the other 3 I could easily hit the $1500!

[FireMedic1]

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@ibebarrett wrote:

I've been thinking about getting a discover card next, given my situation I believe it may benefit my profile. For the record this is not something I'm looking at app'ing for in the near future, trying to let my inquiries cool off for a second first! That being said I'm curious what ya'll think, whether it's a flat no or a different bank recommendation, anything helps!

Background:

So I know it's an important factor to lenders to see that you're responsible with larger *bankcard* credit limits, and I doubt my current cards will grow much past where they're currently at. From what I've read, Discover seems to be the quickest to handout CLIs(I am aware that they are pumping the breaks though), and I'd love to add something to my portfolio that will show responsible use of a larger line. I have a Synchrony account that grown tremendously and is my largest line, which is great for agg util, but I'd like to see a bigger bankcard tradeline before I hop on the sapphire train. My main focus is to rack up URs, but a little cashback every now and then doesn't hurt, so I was looking at Discover IT because 5% will rack up a decent amount depending on the quarter, and I could easily make use of the $1500 max at least 2 Q's of the year. Plus it would be nice to have an extra account adding to my on time payments, I'd love to drown out those old Student Loan lates!

Anyway here are some stats:

Redstone FCU secured card: $350, 46 months....one single monthly recurring charge

Cap1 Quicksilver: $1950, 44 months....pretty sure it's bucketed, one single monthly recurring charge

Synchrony CareCredit: $12k, 6 months....all vet bills just to keep them in one place

Citi Costco: $5500, 3 months...Costco and gas

Chase FU: $2800, 3 months....everything else until 3% is over

Is this sound reasoning? I doubt any of my bankcards will grow much more and I'd love to have a stronger bankcard profile. Would there be a better bank to go to, or should I just blow off this idea? Thanks guys!

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Could you place the credit lines and what the balances are? Especially the Care Credit. Sounds like there's a high balance?

Chase FU: $2800, 3 months....everything else until 3% is over < whats this mean?

[ibebarrett]

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@FireMedic1 wrote:

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@ibebarrett wrote:

I've been thinking about getting a discover card next, given my situation I believe it may benefit my profile. For the record this is not something I'm looking at app'ing for in the near future, trying to let my inquiries cool off for a second first! That being said I'm curious what ya'll think, whether it's a flat no or a different bank recommendation, anything helps!

Background:

So I know it's an important factor to lenders to see that you're responsible with larger *bankcard* credit limits, and I doubt my current cards will grow much past where they're currently at. From what I've read, Discover seems to be the quickest to handout CLIs(I am aware that they are pumping the breaks though), and I'd love to add something to my portfolio that will show responsible use of a larger line. I have a Synchrony account that grown tremendously and is my largest line, which is great for agg util, but I'd like to see a bigger bankcard tradeline before I hop on the sapphire train. My main focus is to rack up URs, but a little cashback every now and then doesn't hurt, so I was looking at Discover IT because 5% will rack up a decent amount depending on the quarter, and I could easily make use of the $1500 max at least 2 Q's of the year. Plus it would be nice to have an extra account adding to my on time payments, I'd love to drown out those old Student Loan lates!

Anyway here are some stats:

Redstone FCU secured card: $350, 46 months....one single monthly recurring charge

Cap1 Quicksilver: $1950, 44 months....pretty sure it's bucketed, one single monthly recurring charge

Synchrony CareCredit: $12k, 6 months....all vet bills just to keep them in one place

Citi Costco: $5500, 3 months...Costco and gas

Chase FU: $2800, 3 months....everything else until 3% is over

Is this sound reasoning? I doubt any of my bankcards will grow much more and I'd love to have a stronger bankcard profile. Would there be a better bank to go to, or should I just blow off this idea? Thanks guys!

---

Could you place the credit lines and what the balances are? Especially the Care Credit. Sounds like there's a high balance?

Chase FU: $2800, 3 months....everything else until 3% is over < whats this mean?

---

The Chase FU SUB is 3% for first year then 1.5(2.25)% after, but eventually plan on having CSR for 2(3)% on travel expenses(%s in parentheses are effective % after CSR redemption) .

Original post is now updated to show util, but here it is again:

Redstone FCU 0/350

Capital One 0/1950(as of next statement)

CareCredit 0/12k(I had multiple large vet bills come up that are all paid off, which would explain the high limit)

Costco 300/5500(would be reporting 0 when/if I apply)

Chase 1300/2800(PIF every month but still working down a large unexpected expense, would be <30% for app though)

[Anonymous]

Personally I don’t see anything that would scare Disco in what you’ve listed. Have you tried their prequal? If you see an offer with a fixed APR rather than an APR range you’re good to go (based on what we see from others on here).

[mikesonthemend]

If your scores are current, and have been there for a few weeks, you should be in good shape. Your EQ score should hit on the "check if prequalified" link. It may require a call in, but they will then pull your EX file and should approve with a minimum of $3k, wouldn't be surprised if it was much more.

If your offer doesn't have a 0% intro rate, keep checking until it does.

Good luck!  Keep those pets healthy!

[ibebarrett]

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@Anonymous wrote:
Personally I don’t see anything that would scare Disco in what you’ve listed. Have you tried their prequal? If you see an offer with a fixed APR rather than an APR range you’re good to go (based on what we see from others on here).

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I'm more concerned over whether or not it would be a step in the right direction, less so getting approved. I have done the prequal, it's a solid apr, but top of the range! I'm sure this has something to do with Chase being barely below 50% and the recent applications, but I also plan to PIF so it's not really a concern. Really I'm looking at Discover's quickly growing limits as a stepping stone.

@mikesonthemend It didn't show a 0% intro period(probably because of recent accounts), but I'm not really concerned about that, part of me wondered if I cold app'd instead if I would get that intro period lol. But yes, the doggos are always near the top of the concern list, she's good now, but still a couple more months of recovery :/

[Anonymous]

It’s a good idea because a) it gives you network diversity having cards on multiple charge networks, which is a good backup plan, and b) Disco IT is a very good card - you won’t find many people who don’t like it. The first year especially is great for the match, but Leo unlike many others, there’s no minimum cash redemption and when you redeem it as a statement credit, it will apply toward your monthly minimum. Not a lot of cards do that.

Disco is a worthy card to have.

[Anonymous]

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@ibebarrett wrote:

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@Anonymous wrote:

Disco Miles @ 3% for the first year similar to CFU would be a better bet for max spending vs dealing w/ quarters and categories.

---

I appreciate the suggestion, but I just plan on keeping my travel through Chase, I like their UR system, and once I have my CSR that freedom will be 2.25% so I'd completely lose use of the Disco Miles, where as with the rotating 5% I'll have times out of the year where IT excels. I'm not really worried about keeping up with quarters, and the only Q I'd be concerned about would be Target/Walmart/Amazon, but the other 3 I could easily hit the $1500!

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It has nothing to do w/ travel.. it's just the name they gave it.  It's all CASH with DISCO.  Take the 3% and run w/ it.  It's a better deal since the category spend is capped at a maximum earn of $75.