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Which to Pick- Discover IT vs Discover IT Chrome ?

New Contributor

Which to Pick- Discover IT vs Discover IT Chrome ?

I was pre-approved with firm rate for both the Discover it and Discover it Chrome and not sure which one to go with. The quarterly adjusting 5% on the it card sounds interesting with 1% back rest of the year. But also find the 2% all year on Food/Gas, with no quarterly adjustments, for the it Chrome to be catching my eye. Should I also expect same Initial limits and CL increases between both types of cards? Would appreciate any opinions on which way to go with my selection of it vs it Chrome.


Chapt7 Discharge 3/17
14 REPLIES
Established Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?

My guess would be that the cards have similar if not the same underwriting & that you could expect similar starting lines. I would suggest the rotating categories on the IT card over chrome for the following reasons: the card is likely to include 5% gas & food at some point in the year, the cashback match effectively makes all category spend 10% vs a flat 2% for gas/food, if the current category isn't gas or dining you will still get 2% on them with match, and lastly if you're spending enough to max out $1500 a quarter on gas and dining alone there are far far better cards to optimize your rewards.
Fico8 (Jun'18) - EQ 692 TU 771 EX 778

Message 2 of 15
Valued Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?

Last I heard, Discover let people switch back and forth pretty smoothly.

 

I have a lot of good cards and personally favor a card that can occasionally give 5% over a card that couldn't exceed 2% (after the first year or any promos).

Protections: CSR, Schwab Platinum, Costco, Double Cash
Rewards/Offers: BBP, CF, CFU, Discover, ED, BCE
Annual nights: IHG, Hyatt, SPG
PIN: Arrival
Message 3 of 15
New Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?

Thanks for the replies! I went for the standard it card and was approved with a nice limit, which surprised me in my failry early rebuild


Chapt7 Discharge 3/17
Message 4 of 15
Senior Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?

It's a good card if you buy gas or eat out.  2% + 2% cashback extra the first year = 4% on those categories.

 

Congrats!  Remember you can apply for the other card in 12 months and also earn another year long double cashback bonus on the second card.

Message 5 of 15
New Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?


ABCD2199 wrote:

It's a good card if you buy gas or eat out.  2% + 2% cashback extra the first year = 4% on those categories.

 

Congrats!  Remember you can apply for the other card in 12 months and also earn another year long double cashback bonus on the second card.


Thanks!  I wasnt aware could look at grabbing a second card from Discover at 12 month mark, I will keep that in mind.


Chapt7 Discharge 3/17
Message 6 of 15
Regular Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?

I was preapproved for the same two cards with a fixed interest rate, but I was hesitant to accept as below it states that it is not a definite approval until they actually pull my credit. My FICO scores have improved to the 690/706 range (from about 630ish), but I still have a paid public record on my report and that was their excuse for turning me down a couple of months ago. Do you think if they say congratulations you are preapproved that I can feel pretty confident?
Message 7 of 15
Valued Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?

The quarterly adjusting 5% on the it card  is IMHO the best use. You can always get the 2% or better on food/gas using a different card. I use the NFCU Go rewards for restaurants and the PFCU cash rewards for gas and groceries.  

 

 

 

 


AX BCP 15k, AX SPG 1k, AX Hilton Ascend 6k (AU), BC Arrival+ 15k, BC AA Aviator 4K, AKUSA FCU -10k , Discover (2) 11k , Kohls-4k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 9.8k, BofA Secured $500, Synchrony E-bates Visa $3.9k, PFCU Plat Rewards Siggy 39.5k, NFCU Go Rewards 31k, NFCU Flagship 40k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $4k,Target 1.4k, Ulta MC Comenity 3k, Pay Pal 1k, CO Venture One 23k, 225k total available credit. Utiliz-2%, Current FICO EQ-707, EX 702,TU 715 Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 8 of 15
Valued Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?


SlightlyRemoved wrote:
My guess would be that the cards have similar if not the same underwriting & that you could expect similar starting lines. I would suggest the rotating categories on the IT card over chrome for the following reasons: the card is likely to include 5% gas & food at some point in the year, the cashback match effectively makes all category spend 10% vs a flat 2% for gas/food, if the current category isn't gas or dining you will still get 2% on them with match, and lastly if you're spending enough to max out $1500 a quarter on gas and dining alone there are far far better cards to optimize your rewards.

I find the 2% gas and restaurants student card is the easiest. I applied a few months ago and was denied for a DiscoverIt, but was approved a few weeks ago for the gas and restaurant card, which I'll PC to the regular IT anyways. 

USAA Limitless
NavyFed AMEX
AMEX Blue Business Preferred
Citi Double Cash
DiscoverIT 5%
Message 9 of 15
New Contributor

Re: Which to Pick- Discover IT vs Discover IT Chrome ?


Chickadee1970 wrote:
I was preapproved for the same two cards with a fixed interest rate, but I was hesitant to accept as below it states that it is not a definite approval until they actually pull my credit. My FICO scores have improved to the 690/706 range (from about 630ish), but I still have a paid public record on my report and that was their excuse for turning me down a couple of months ago. Do you think if they say congratulations you are preapproved that I can feel pretty confident?

I am no way an expert on this but can tell you on the more generic pre approval form I had tried in the past too many times it always returned a large spread on the APR. From what I read on here multiple times that was a pretty safe sign of Not being a true pre approval, and to watch out for when see a single APR listed as a valid pre approval.  That seemed to work in my case yesterday, but again just relaying what I have seen on here and my experience. 


Chapt7 Discharge 3/17
Message 10 of 15