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Discover IT

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Anonymous
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Discover IT

Hi, I recently applied for a Discover IT Student card, However I Didn't have my enrollment papers yet to prove my school status, so they switched my application to a regular Discover IT card and gave me a $500 limit, Would the Limit have been $1000 on a student card? Also this is my first credit card, I have no FICO score what so ever, Just the inquiries from Discover, Who do they report too for CB? I don't even see a pull from them n my TransUnion or Experian report? also how long should I wait to request a CLI? should I use the card and pay it off like crazy to get a CLI? or would just charging my Apple Music and iCloud storage monthly be good enough?

 

Also in 6 months when I get a FICO score is that when I apply for another card?

 

Thanks!!

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Discover IT


@Anonymous wrote:

Hi, I recently applied for a Discover IT Student card, However I Didn't have my enrollment papers yet to prove my school status, so they switched my application to a regular Discover IT card and gave me a $500 limit, Would the Limit have been $1000 on a student card? Also this is my first credit card, I have no FICO score what so ever, Just the inquiries from Discover, No I dont think your SL matters much since you have had no CC history, be happy you were approved! (though Discover and Cap1 are the only thin file friendly)!  Who do they report too for CB? I believe they report to all the three major CB. I don't even see a pull from them n my TransUnion or Experian report? Patience, it will show up eventually if not immediately on TU, If you using Credit karma to monitor activity it will showup on both TU and EQ.   also how long should I wait to request a CLI? I like my CLI given to me without asking just use it normal, you shall be able to see auto-CLI on your account.  should I use the card and pay it off like crazy to get a CLI? or would just charging my Apple Music and iCloud storage monthly be good enough?

 You can use it however you want, but see that by statement date you have balance 0 - 8.9% of credit limit used.

Also in 6 months when I get a FICO score is that when I apply for another card?

 Yes little after 6 months, so when 7th statement cuts you can app for new cards however be prepared for lower limits on approved CC. Everything comes at a price, if you wait till 1 year you would be approved for same cards but slightly higher starting limits..  also you will be able to access your true FICO 8 Scores after 7 statement is generated, you can obtain TU free from Discover score card. EQ from CITI free online credit scores and EX from its website.

Congratulations on your first CC! Wishing you best of luck! 

PS. Study well.

 


 

Message 2 of 9
Anonymous
Not applicable

Re: Discover IT

Thanks! I'll probably have to wait a while now, as I have like, 8 inquiries before I did my research and tried to apply for a Card from Wells Fargo, Chase, Citi and BoA, not knowing they aren't really interested in customers that have no Credit history and ended up with a bunch of Inquiries for nothing really. only Discover approved me.

Message 3 of 9
Anonymous
Not applicable

Re: Discover IT


@Anonymous wrote:

Thanks! I'll probably have to wait a while now, as I have like, 8 inquiries before I did my research and tried to apply for a Card from Wells Fargo, Chase, Citi and BoA, not knowing they aren't really interested in customers that have no Credit history and ended up with a bunch of Inquiries for nothing really. only Discover approved me.


We all learn it the hard way! I regret doing same. At least, we are fortunate for having this forum though. It really helped me and many others understand CC and financial things better than any average man outside this forum.

  

Message 4 of 9
Anonymous
Not applicable

Re: Discover IT

Well, I had applied for a CapOne card too and it asked me to send in a copy of my SSN and Photo ID and then I'd hear back in 7-10 days or whatever, assuming it was an automatic denial I just forgot about it, Just checked the mailbox and theres a card from Capital One, small $200 limit. But oh well itll start my score off. I'll probably never use the card, Will a card still build your score even if you dont use it?

Message 5 of 9
Anonymous
Not applicable

Re: Discover IT


@Anonymous wrote:

Well, I had applied for a CapOne card too and it asked me to send in a copy of my SSN and Photo ID and then I'd hear back in 7-10 days or whatever, assuming it was an automatic denial I just forgot about it, Just checked the mailbox and theres a card from Capital One, small $200 limit. But oh well itll start my score off. I'll probably never use the card, Will a card still build your score even if you dont use it?


Congratulations on Cap1! Yaaay, Well irrespective of you using it or not using it, it does affect your scores. For instance, now that you have a disco and cap1 your total Credit limit is 500+200, so your overall limit is increased which is a good sign. Just ensure to use both of your cards at least once in 3-6 months to avoid inactivity. Ps, I would not just put Cap1 immediately inside drawer because they promise to increase limits after 5-6 months of use so report 2 bucks or 5 bucks for next five months and you will see they will increase credit limit by 300. I just got my auto CLI last month from them, I don't see it grow any sooner so this month onwards it is going inside my socks drawer   

Message 6 of 9
Anonymous
Not applicable

Re: Discover IT

Sounds good, To be honest just to keep mysefl from using these cards while I'm out and about and buying stuff I don't need I'm just going to be putting them both in the safe with my passport haha. I will setup Discover to pay my iCloud storage fee and Capital One to pay my Apple Music and just set both the cards on AutoPay and let them do their thing, hopefully in a year or so I'll be able to get some of the good cards, like an Amex haha.

Message 7 of 9
joltdude
Senior Contributor

Re: Discover IT

Amex might be an option in a little bit... id wait to age your Discover though.... (Amex seems to be amicable to thin files... might want a revolver from them)....... 

 

-J

 

Message 8 of 9
joltdude
Senior Contributor

Re: Discover IT

You should use these cards ... but pay them off.... Even if its just one purchase a month and then making a payment on them....

The lack of use can bite you too...

 

Of course i didnt see the autopay setup and subscription post.. Yep. you got the idea...

 

-J

 

Message 9 of 9
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