Should I go for Discover It?

GeneralCucumbre · ‎05-19-2013

I am thinking about adding another 5% cash back card (along with the Chase Freedom) to use for different categories that maybe the Freedom doesn't offer. I have been recieving pre-approvals from Discover in the mail to apply for their "It" card like crazy. I don't know much about the Discover It card and I am wondering how this card is. Is it a hard card to get approved for? Do they "match" current credit lines or do they start you off low and build you up over time? I appreciate any feedback that anybody can offer.

AMEX Green Corporate - NPSL | AMEX Everyday - $60,000
Chase Freedom Unlimited Visa Signature - $49,500 | Chase Freedom Visa Signature - $27,300 | USAA Platinum Visa - $26,000

09Lexie · ‎05-19-2013

Discover has the rotating categories similar to Freedom. If you already have the Freedom they should complement each other well. Discover has excellent customer service and all are US based. Regarding, cl, that's a YMMV, they may match then again they may exceed your other CL's.

Based on the cards in your siggy you shouldn't have a problem being approved.

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enharu · ‎05-19-2013

From what I've see, they generally start you at where your highest CL is around but a little lower. For some people Discover is also their highest CL, so it can go goes both ways depending on your CR.

There's a chance of auto CLI, and they do SP / HP CLIs as well. Generally they like to see usage on the card in order to stand a better chance for CLIs.

It is not that hard of a card to get approved for. I'd say its somewhat similar to Freedom.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

GangnamFICO · ‎05-19-2013

Yes! Go for IT!!!

Walmart TU Score 740
Chase Freedom($5000); CitiThankYou Preferred($5000); GEWM Discover($3500); Walmart Store($1300); AMEX Gold; AMEX BCE($6000); GE Discount Tire($1500); Mor Furniture ($4700);Cap1($750)

Burned2manybridgesB4 · ‎05-19-2013

OP, you'll get approved, but it'll mostly depend on your stated income, in regards to their coming close to your other cards' limits. Reading between the lines, for just having your cards to guess by... 8k??

LS2982 · ‎05-19-2013

Lowest CL you may get is 8K but that is YMMV. Your golden for approval! Good luck!

EQ FICO 548 3/3/16

RyVision · ‎05-19-2013

If your file is clean and you have a good AAoA, as was already said, with your current cards, Discover will probably grant you a CL around the 6 to 8k mark. According to their letter, my score was lower than I thought (about average), but with my history and limits (and spotless CR), they started me at 6.5k, then bumped it to 8.5k about 8 months later.

They have decent CS from what I've experienced and "Shop Discover" can save a few bucks here and there on top of the cash back.

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kmkotas · ‎05-19-2013

The IT card is pretty much identical to Chase but the Freedom is more restricting example: you can only get 5% on online shopping at Amazon Oct-Dec but with discover it is all online shopping). I have both cards and am trying to convert my Freedom to CSP. I work for Discover so I may be a bit biased but I like my It card more than the Freedom. Both have great online shopping malls to maximize your rewards. Only thing that sucks about Discover is that you can only redeem CBB towards your bill or into bank acct in $50 increments. Chase will do any dollar amount if I'm not mistaken. Good luck : )

1st Financial Bank USA Mastercard (2007) $1,900.00
Chase Sapphire Preferred (2008) $16,000
American Express Gold (April 2013) NPSL
Discover It (April 2013) $5,000
**Experian 765, Equifax 782, TU 787**

RyVision · ‎05-19-2013

I should add, I got the MORE just months before the IT was introduced (which is the card you're actually interested in). Also, my house and cars are all paid for, haven't had a loan for either of those in well over 10 years. Income is a bit higher than average. Hope the added info helps you decide if "IT's" right for your needs.

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dddewdrop · ‎05-19-2013

Between Discover It and Freedom, you can get 5% cash back on gas 9 months out of the year...

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