"Approved; Great Card For Transferring Balances"

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Written by: joeyman on 2011-10-09

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joeyman's review: I was given an instant approval online. However, to complete the application they asked I call and verify a few things, they did not ask for any income facts (like other FG members have stated). Initial credit line $3,000; I did ask for a higher limit during the phone call and rep explained Discover is typically conservative during the first six months with customers and to expect an increase after that point in time. Last known Equifax credit score: 722, unfortunately I haven't pulled my credit report in a few months so this may have changed.

My primary reason for applying, to take advantage of the 0% balance transfer option for 15 months. I have been spending a bit too much the last 2-3 months and I think this is great way to consolidate balances, which are currently spread out awkwardly on separate cards.

The customer service rep was very nice, and I look forward to talking with them again if necessary.

I was only able to transfer 3 balances during the application; however, the rep indicated I can transfer more online anytime. My balances are small but spread out on other cards so this was kinda annoying.

I am 21 years old, my first credit card was in 2008 after graduating high school.


I hope this helps.

12 Comments

Comment 1 by derek1061
Re: Approved; Great Card For Transferring Balances on 2011-10-09

Congratulations. They gave you a very good credit limit, I wish mine was that high. I got approved in 8/11 for $1,000 but when they called I asked for a higher credit limit and was approved for an additional $500.
Comment 2 by wanderer
Re: Approved; Great Card For Transferring Balances on 2011-10-09

Hot... hot... hot! Congrats! Discover Cards are hot tonight! Great that you joined the Discover Card family. Great CL. Can't believe the number of FG Members that took the plunge lately!!! I also opened a Discover Bank Savings Account.
Comment 3 by joeyman
Re: Approved; Great Card For Transferring Balances on 2011-10-09

Thanks everyone!


@ Derek, I'm sure you'll get a nice increase soon enough. We both know this is great company to grow with. :)
Comment 4 by joeyman
Re: Approved; Great Card For Transferring Balances on 2011-10-09

Update: Discover only pulled Equifax for this application, and my score was 728 after the credit inquiry.
Comment 5 by brian23
Re: Approved; Great Card For Transferring Balances on 2011-10-09

@Joeyman, Congrats on the approval. This really is the hot card for FG members lately.

@Wanderer, I've had a Discover online Savings account for quite some time. I wonder if that plays any part on the application process.
Comment 6 by patrick12
Re: Approved; Great Card For Transferring Balances on 2011-10-09

Congratulations! Wanderer makes a great point! Discover has been great to all us FG members recently! They are top notch in my book! And Discover will grow with you! The future is so bright we all need shades!
Comment 7 by wanderer
Re: Approved; Great Card For Transferring Balances on 2011-10-10

Interesting that Discover Card pulled Eq on joeyman and they pulled Tu on mine. As to does the Discover Bank relationship affect applying for a Discover Card? I opened my bank account after the Discover Card account was set up. My guess is that it does not (but who knows?).
Comment 8 by derek1061
Re: Approved; Great Card For Transferring Balances on 2011-10-10

Discover pulled Transunion for my credit card too. I believe that who the creditor pulls depends on your geographical location.
Comment 9 by phynanciallysavvy
Re: Approved; Great Card For Transferring Balances on 2011-10-10

Joey, they pulled EQ for my initial application. After the first (or second) billing cycle ended, they PULLED ALL THREE CB's - as hard inquiries, which sucks since the account had already been open and reported to each bureau for at least a month.

It was after this action when they slashed my CL in half out of the blue. I love the 12 months of 0%, but after that, it's going in the file cabinet with the Chase Freedom Visa.
Comment 10 by phynanciallysavvy
Re: Approved; Great Card For Transferring Balances on 2011-10-10

Also, my scores were mid 700s at the time they slashed my CL - and I only had two applications for credit within the previous 15 months, one of which was theirs.
Comment 11 by joeyman
Re: Approved; Great Card For Transferring Balances on 2011-10-10

Hmm... hopefully I don't get slashed. :/

My highest credit limit is $5k (Amex Blue cash) and this being $3k... maybe they will try and compete with Amex and raise it after six months? Its always seemed like Amex and Discover compete a lot. I talked to a Discover rep today on the phone and she asked if I wanted credit monitoring, I said no because I just started the same thing with Amex. It was quite funny because she got quiet and said "fair enough."

Staying optimistic.
Comment 12 by kdb030609
Re: Approved; Great Card For Transferring Balances on 2011-10-18

Congratulations young man !!! That is a great starting limit . You've worked hard and now the much deserved rewards are coming to you ! Don't worry about increases . I'm sure that will happen before you know it . I'm sure they'll want to compete with your AMEX card. It might start a battle of increases between the two ! LOL ! Keep us posted !
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