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QUESTION REGARDING MY NEW DISCOVER IT CARD

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Community Leader
Mega Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD

Op, look forward to card #2 getting the 0% apr 0% bt offerSmiley Happy Plus with good management , in a year when you ask for apr redux, you might get a 0% apr 12 month offerSmiley Happy. Disco is the new Mambo #5Smiley Wink
Message 11 of 21
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Mega Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@SEAlifer wrote:

I've noticed this too. My Chase account shows the points as soon as the purchase has been processed whereas Discover shows it at the statement date. Still, love their points and I've got A LOT of value out of it in just my first four months with them. I love it and my card design gets all the compliments Smiley Very Happy


For Chase (at least the UR cards) while the online statement shows the points earned as the transaction post, I believe that they are not actually available until statement close.   Or am I wrong?

Message 12 of 21
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Valued Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@Jannelo wrote:

So I received my new Discover it Cash Back credit card.   I have used it about seven times.   Two restaurants for the 5 percent and other  items for the 1 per cent cash back.  My Cap One Quicksilver shows the cash back rewards as soon as the charge posts.   Nothing is showing on my Discover card, not for regular purchases and not for the 5 percent category purchases.  Is that normal or is it handled differently than what Cap One does?  

 

Oh, and it's great I receive the TU FICO score.  They just posted mine, and I've gone up 3 points in the last two weeks since I pulled it.  I love that service with the card.


Another nice feature with DISCOVER that you may or may not use is cash over on purchases, mostly at groceries stores. Works like a debit card and you can request cash back after a purchase. $20, $40, $100. No fee, no interest, and the cash back is added to your grocery purchase amount. You earn no rewards on the cash back, but it saves you a trip to the ATM. Easy way to get some petty cash for your wallet or purse. 

Scores, HPs/24 mos. (updated 10/09/20):
    Experian FICO Score 8 = 825, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 815, 1/24
    Equifax = 819, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07
Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 13 of 21
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Frequent Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@CardNut wrote:

@Jannelo wrote:

So I received my new Discover it Cash Back credit card.   I have used it about seven times.   Two restaurants for the 5 percent and other  items for the 1 per cent cash back.  My Cap One Quicksilver shows the cash back rewards as soon as the charge posts.   Nothing is showing on my Discover card, not for regular purchases and not for the 5 percent category purchases.  Is that normal or is it handled differently than what Cap One does?  

 

Oh, and it's great I receive the TU FICO score.  They just posted mine, and I've gone up 3 points in the last two weeks since I pulled it.  I love that service with the card.


Another nice feature with DISCOVER that you may or may not use is cash over on purchases, mostly at groceries stores. Works like a debit card and you can request cash back after a purchase. $20, $40, $100. No fee, no interest, and the cash back is added to your grocery purchase amount. You earn no rewards on the cash back, but it saves you a trip to the ATM. Easy way to get some petty cash for your wallet or purse. 


I didn't know that.  Thanks.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC'd to Quicksilver (9/19) - $800 CL
Capital One QuicksilverOne (3/19) - $1650 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $1300 CL
Amazon Prime Store Card (4/20) - $4800 CL
NFCU cashRewards (4/20) - $1500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL

Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2020 - 672
Equifax FICO 8 score 9/2020 - 674
TransUnion FICO 8 score 10/2020 - 658
Message 14 of 21
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Frequent Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD

So I received my Discover it Cash Back card about a week ago.   I now have a $195 balance showing, with no due date  listed yet.  I paid it last night online,  but payment hasn't posted.   I wake up to two Experian alerts, which were new credit card and increase in score .   Well, my Discover hit my credit report with the $195 balance showing, so a 20 percent utilization on that card, and yet my Experian FICO score jumped 7 points to 645.  That's with another credit card showing a 1 percent utilization.   So no AZEO as far as open accounts.    But it does bring my overall utilization down when you include the charged-off Cap One balance showing on my credit report, which hasn't updated yet to show a much lower balance.   What a nice surprise this morning.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC'd to Quicksilver (9/19) - $800 CL
Capital One QuicksilverOne (3/19) - $1650 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $1300 CL
Amazon Prime Store Card (4/20) - $4800 CL
NFCU cashRewards (4/20) - $1500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL

Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2020 - 672
Equifax FICO 8 score 9/2020 - 674
TransUnion FICO 8 score 10/2020 - 658
Message 15 of 21
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Valued Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@Jannelo wrote:

So I received my Discover it Cash Back card about a week ago.   I now have a $195 balance showing, with no due date  listed yet.  I paid it last night online,  but payment hasn't posted.   I wake up to two Experian alerts, which were new credit card and increase in score .   Well, my Discover hit my credit report with the $195 balance showing, so a 20 percent utilization on that card, and yet my Experian FICO score jumped 7 points to 645.  That's with another credit card showing a 1 percent utilization.   So no AZEO.     What a nice surprise this morning.


Your total utilization went down with the additional 1K credit line added. Even though it was at 20% still not bad, so it didn't drop it much.

 

I don't agree with the single card utilization ding when its above 30% or at 99%. Total utilization is more important. For instance, I recently maxed out one card. Came within 40 cents of the limit, so it was at 99.99% utilized. Dropped my score by 39 points, but my overall utilization was at 6%. The risk is higher for the one lender, but a score measures overall risk. 6% is 6%, regardlessof where it is. I paid it in full and my utilization is at 1%, and I got my 39 points back. Actually a few more added.

Scores, HPs/24 mos. (updated 10/09/20):
    Experian FICO Score 8 = 825, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 815, 1/24
    Equifax = 819, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07
Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 16 of 21
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Moderator

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@CardNut wrote:

@Jannelo wrote:

So I received my Discover it Cash Back card about a week ago.   I now have a $195 balance showing, with no due date  listed yet.  I paid it last night online,  but payment hasn't posted.   I wake up to two Experian alerts, which were new credit card and increase in score .   Well, my Discover hit my credit report with the $195 balance showing, so a 20 percent utilization on that card, and yet my Experian FICO score jumped 7 points to 645.  That's with another credit card showing a 1 percent utilization.   So no AZEO.     What a nice surprise this morning.


Your total utilization went down with the additional 1K credit line added. Even though it was at 20% still not bad, so it didn't drop it much.

 

I don't agree with the single card utilization ding when its above 30% or at 99%. Total utilization is more important. For instance, I recently maxed out one card. Came within 40 cents of the limit, so it was at 99.99% utilized. Dropped my score by 39 points, but my overall utilization was at 6%. The risk is higher for the one lender, but a score measures overall risk. 6% is 6%, regardlessof where it is. I paid it in full and my utilization is at 1%, and I got my 39 points back. Actually a few more added.


 

 

 

How is using 40% of the limit 99% utilized?
Unless something changed since yesterday, 40%=40%.

Message 17 of 21
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Valued Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@Remedios wrote:
How is using 40% of the limit 99% utilized?
Unless something changed since yesterday, 40%=40%.


I came within 40 cents ($0.40) of the limit, not 40%, which is 99% utilized. 

Scores, HPs/24 mos. (updated 10/09/20):
    Experian FICO Score 8 = 825, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 815, 1/24
    Equifax = 819, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07
Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 18 of 21
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Frequent Contributor

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD

@rsmy1235, well, my utilization was only at 1 percent regarding open accounts before it hit.   But I did add this to my post after you quoted it.

 

"But it does bring my overall utilization down when you include the charged-off Cap One balance showing on my credit report, which hasn't updated yet to show a much lower balance."   I have a charged-off account still reflecting $1366 on my credit report, which is showing a 34 percent utilization as far as balance still owed.   It is paid down to under $400 balance left owing, but Cap One doesn't report any update on my balance on this card until the end of the month.    So I guess the card did help in the respect of overall utilization of both open and closed accounts reflecting a balance.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC'd to Quicksilver (9/19) - $800 CL
Capital One QuicksilverOne (3/19) - $1650 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $1300 CL
Amazon Prime Store Card (4/20) - $4800 CL
NFCU cashRewards (4/20) - $1500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL

Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2020 - 672
Equifax FICO 8 score 9/2020 - 674
TransUnion FICO 8 score 10/2020 - 658
Message 19 of 21
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Moderator

Re: QUESTION REGARDING MY NEW DISCOVER IT CARD


@CardNut wrote:

@Remedios wrote:
How is using 40% of the limit 99% utilized?
Unless something changed since yesterday, 40%=40%.


I came within 40 cents ($0.40) of the limit, not 40%, which is 99% utilized. 


 

 

Obviously I need more coffee. 

I've had it happen to me when AU was added and Discover reported off cycle.  I did ask them to report again after payment because I could not look at it. I lost less points than you,  19 or something like that. 

Utilization was at 91% and because anything over 89% is considered maxed out, that was surprisingly small loss. 

 

Message 20 of 21
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