Is it possible that Discover buckets cards?

[jonblaze24]

I've had my DiscoverIT cash back card for about 7 years now. SL of $1,500 back when my credit score was in the 5's, after years of use and random small increases here and there, I have my limit up to $8,300. Not bad at all, but my score is now in the low 7's and im generally curious if I may be better off just applying for a new one (not only to see if I can get a better SL but to get a lower APR). I am a huge fan of discover, so its not a question of keeping them around but I would like a little more flexibility with them. 

[FinStar]

The majority of financial institutions that issue CCs have tranches. And Discover is no exception. It's not as prevalent as Capital One, but they follow similar ABS methodologies. 

An item to keep in mind, relative to your other unsecured exposure, how often do you use Discover? And, is $8,300 not flexible or sufficient for how you use the card? Are you maxing out the 5% categories every quarter? So, $8,300 doesn't really sound like it's 'bucketed', but perhaps that's as much as they're willing to extend on this particular account. You can always apply for a 2nd card and see what that yields.

As far as the standard APR, they're definitely flexible with lowering it over time. You can contact them to see if your account is eligible, and if so, you can repeat the process once every 12 months.

[FalconSteve]

My wife had a Discover IT secured card and she probably could have gotten a non-secured card, but we were skiddish, but they clearly bucketed us (at least for a while) with our $300 CLIs despite 800+ scores. We did get ONE increase Spring 2021 that was an exception ($5000) that I cannot explain.

[AlanGJP]

Absolutely they do. Discover IT was one of my first cards during rebuild when I was in the lower 600's. Barely grew, even with decent (1-3k) usage/month and always PIF. Grew to $2500 in 3 years, most of that in the first 2. Then constant denials. For giggles, I applied for a second card - INSTANT $10k approval. First card still hasn't moved, despite monthly requests and decent usage. I may cut that one soon. (I'm on a thinning spree of late, too many cards)

My suggestion would be to focus on your scores and app for new cards (use the pre-quals), apply when you're happy with the offer. You may be surprised what pops up. Good luck!

[FireMedic1]

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

[AverageJoesCredit]

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@FireMedic1 wrote:

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

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My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years

[dragontears]

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@AverageJoesCredit wrote:

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@FireMedic1 wrote:

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

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My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years

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My second card also had a higher APR (still does) as well as a lower SL than the first. 

[FinStar]

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@dragontears wrote:

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@AverageJoesCredit wrote:

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@FireMedic1 wrote:

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

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My apr was actually higher on second card despite being in 700's. Hard to combine if neither account is ever eligible for a cli lol. Haven't been able to get a cli in past 2+ years

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My second card also had a higher APR (still does) as well as a lower SL than the first. 

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Indeed.

There were a couple members who were approved for very, very low limits ($1K) despite having long histories on their other Discover cards (with high limits), so results will vary when a 2nd Discover account is opened.

Conversely, there have been members that were approved with a similar or higher limits on their 2nd card -- profile dependent of course.

[jonblaze24]

If i were to apply for another DiscoverIt, do they allow you to combine accounts? Or would it still be 2 separate cards, 2 separate accounts?

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@FireMedic1 wrote:

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

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[dragontears]

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@jonblaze24 wrote:

If i were to apply for another DiscoverIt, do they allow you to combine accounts? Or would it still be 2 separate cards, 2 separate accounts?

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@FireMedic1 wrote:

Second card will yield a higher SL and lower APR. But its YMMV. My first was 2k (cant remember the first APR, 20's?) and the 2nd 7k 13.4%. Got CLI's on both and then combined the 2.

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Last I heard, you had to be eligible for a CLI on the card you want to transfer the limit to but policies change all the time so....