Need Advice Discover

Anonymous · ‎05-09-2021

Hello,

I currently have a Discover IT card that's 1 years 4 month. Started at $500 , only ever received 1 CLI of $300 taking it to where it has sat ever since 90 days after getting the account.

Little low , and will not grow. I have put some crazy heavy usage though it in the past. PIF ever month . Now I just use it for auto pay for my Netflix since I have out grown it

Well , I pre-qualified for a 2nd account recently SL $3k ( Little Better, Thanks Discover) Hopefully this 1 will actually grow.

Well my question is, instead of having a card that aparently is not going to grow , the 1 that is sitting at $800 ( capital one, flash backs ) should I just close it out and keep fingers crossed the new 1 actually does grow?

I have tried and tried and tried to get some CLI love on the $800. NO SOUP FOR YOU!!

My scores as of today are ,

674 / 676 / 672

1 Paid off Baddie , From 4 years ago

AAoC - 2 1/2 years

24 Inquiries - New vehicle Purchase in December 2020

Hit a deer and Totalled Vehicle I purchased in 2019 ( so had those Inquiries on my credit report also ) they fall off in June so will be down to 8

All accounts are PIF each month , except chase & I rotate each month what card to let a small balance report on ( $50 - $100 )

Anonymous · ‎05-09-2021

Use the new one heavily and check for CLIs. When you get offered one, don't accept it, call customer service and ask them to combine the old card with the new one. The only time they do combinations is when you have a CLI available. Otherwise if you don't want to do that, no big deal closing the old one really. Discover does asset-backed securities lending - https://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-w... - and that can result in your account being bucketed. New account's SL suggests a better bucket.

Anonymous · ‎05-09-2021

Thanks mate,

I called in , and asked after I got approved if I could combine the accounts. I was told the new account has to be at least 1 year old and the old account has to be available for a cli

With the new account you mentioned a better bucket ? As in higher limit bucket hopefully ?

Anonymous · ‎05-09-2021

@Anonymous wrote:
Thanks mate,

I called in , and asked after I got approved if I could combine the accounts. I was told the new account has to be at least 1 year old and the old account has to be available for a cli

With the new account you mentioned a better bucket ? As in higher limit bucket hopefully ?

The way I always understood it was the old account has to be a year old and the new account has to be eligible for a CLI. You're going to be moving the limit from the old to the new, not the other way around.

Yes your limit seems to suggest that your new card is bucketed higher than the old one so it should grow but keep in mind that your scores are borderline for Disco so they may want higher scores and/or more time first.

NoMoreE46 · ‎05-11-2021

Since Covid, the 2nd Disco card must be at least 12 months old and Both cards must be CLI eligible in order to have them combined.....

Here's the thread with a picture of my chat on this topic in March with a Disco CSR:

https://ficoforums.myfico.com/t5/Credit-Cards/2021-DPs-to-combine-merge-Two-Discover-accts/m-p/62818...