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New Disco card and BT question

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MrsCHX
Valued Contributor

New Disco card and BT question

I was approved for Discover IT for $6k and want to put about $4k in BT on it. I have an offer for 14 months but would have it paid off in 9-10 months. 

 

How is Disco? Would this be okay with them? I don't want to spook them because this is a card I really wanted to get! 

 

Now, I have read that if you do BT you shouldn't use the card for new purchases. Accurate?? 

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
10 REPLIES 10
AverageJoesCredit
Legendary Contributor

Re: New Disco card and BT question

Sounds good to me. Not sure how cli is with carrying a bt but seeing as Discos being really stingy recently, not sure that matters much. Great limit by the waySmiley Happy
Message 2 of 11
MrsCHX
Valued Contributor

Re: New Disco card and BT question


@AverageJoesCredit wrote:
Sounds good to me. Not sure how cli is with carrying a bt but seeing as Discos being really stingy recently, not sure that matters much. Great limit by the waySmiley Happy

Yeah I've read about not really getting CLIs while paying off a BT but then I've read that first CLI is usually around 6 months?? So it would be okay if I had to push it out a bit...plus $6k isn't a bad limit to start with! 

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 3 of 11
Anonymous
Not applicable

Re: New Disco card and BT question

Congratulations MrsCHX that is one awesome Discover approval! 😊
Message 4 of 11
Creditplz
Valued Contributor

Re: New Disco card and BT question

Shouldn't be an issue, that's what BT offers are for! 😮
Message 5 of 11
MrsCHX
Valued Contributor

Re: New Disco card and BT question


@Creditplz wrote:
Shouldn't be an issue, that's what BT offers are for! 😮

Well...let's not forget that some lenders go crazy at some things! lol! 

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 6 of 11
RockinRay
Valued Contributor

Re: New Disco card and BT question


@MrsCHX wrote:

@Creditplz wrote:
Shouldn't be an issue, that's what BT offers are for! 😮

Well...let's not forget that some lenders go crazy at some things! lol! 


With Discover, I think you will be fine. I would not use the card nor would I try for a CLI while paying down that balance though.

 

Once they see some good payment history with you - and - this will prove your history, I would try as soon as the balance is paid off.

Ray

** Every Card has a Job, and Every Card does its Job **
Message 7 of 11
CreditInspired
Community Leader
Super Contributor

Re: New Disco card and BT question

Since the DiscoIT has 0% BT & 0% purchases for 14 months, I think you can use both at the same time. It's only when the CC has "0% BT only" that you should not mix BT and purchases.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 8 of 11
HeavenOhio
Senior Contributor

Re: New Disco card and BT question


@CreditInspired wrote:
Since the DiscoIT has 0% BT & 0% purchases for 14 months, I think you can use both at the same time. It's only when the CC has "0% BT only" that you should not mix BT and purchases.

Yeah, you're fine because the APR is 0% for both BTs and new purchases. But because your utilization will be high, make sure that your balance decreases from month to month if you're making new purchases.

 

The problem arises when 0% applies only to BTs. That causes interest to be charged on new purchases because the monthly balance isn't being paid in full.

Message 9 of 11
MrsCHX
Valued Contributor

Re: New Disco card and BT question

AH-HA! I didn't realize that's why people were saying that. Got it.

Yeah, I'd be paying around $500/mo and then any new purchases.
NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 10 of 11
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