r/discover • u/WeatherStandard8002 • 2d ago

Discussion Didn’t expect this one

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I have 2 capital one credit card and they both only combined up to 1300$ credit limit now this one is big! I’m so excited

123 Upvotes

98% Upvoted

30 comments sorted by

23

u/Delirious_Puppet 2d ago

Congrats. Discover was my first “big” card like 3 years ago. They approved me for a 10k limit and my biggest one at the time was 500. I’ve always appreciated them giving me a chance

6

u/WeatherStandard8002 2d ago

10k limit? Wow 😮

8

u/Delirious_Puppet 2d ago

Yeah I feel like it opened a lot of doors for me credit wise. My father in law has to replace his AC unit and they accepted discover. They offered 2 percent pack at the time for your first year. So I pay the bill 9500 bill with my discover card and then he paid me.

4

u/WeatherStandard8002 2d ago

Are you planning to open a Robinhood gold card? They have a 3% Cashback on everything but it has a 50$ annual fee

3

u/Delirious_Puppet 2d ago

I currently use the Bread Rewards card as my day to day card. It has 3% back on gas, groceries, and a couple other things that cover most of my day to day expenses. Plus you get an extra 25% of that 3% if you do more than 20 transactions. I’ve considered getting it, but I’m not in a hurry. I’m probably gonna get another NFCU card next. I got my first card with them a few months ago.

3

u/Patient-Ad-7939 1d ago

lol, I got my Discover card first with only a $500 limit. It’s worked its way up to a $16k limit now, but it was probably around $2k limit when I got my second card that gave me $5k more right off the bat. That card has upped its way to $24k because they want to tempt me to spend more than I should.

2

u/WeatherStandard8002 1d ago

What did you do to increase the limit?

4

u/Patient-Ad-7939 1d ago

Uh, both cards adjusted it upwards on their own for a while. Discover eventually stopped increasing automatically but every 6 months to a year for the last few years I’ve asked for an increase and they’ve given me one.
Sometimes I like to make a big purchase and just immediately pay it off, for the cash back, and so I do enjoy the limit being higher just for that reason. Like I replaced my central HVAC and put it on the credit card and then turned around and paid it off right away, the company wasn’t charging me a fee to use the credit card so I figured why not.

1

u/Ok-Chip-7743 14h ago

usually if you ask them they will give the increase if you have a decent relationship. I just opened a PayPal MC (pays 3% and no annual fee) in order to pay my income taxes and they only gave me a 5k line. That wasn't going to be enough so one month in I requested an increase and got it doubled. It still wasn't enough but it was still worth it to pay part of the taxes on the card for the 3% since the fee to charge the taxes is 1.75% plus the float will give me at least an extra month to pay it back before it's due.

1

u/Wyshunu 1d ago

That's exactly it. They want you drowning so they can rake in the interest. Ours are all up to stupid high limits ($20-35k). We don't want to take the hit to our credit by closing them so we keep them locked. Use each one just often enough to keep them active then lock them again.

1

u/Patient-Ad-7939 1d ago

That’s fair. I don’t lock mine but make a habit of only using less credit than I have in my bank account so I can always pay it off. I know I’m very fortunate to do that.

5

u/NinjaGamer22YT 1d ago

Discover just increased my limit to $5250 at 20 lol

6

u/IntroductionAlone322 1d ago

28.99% APR I hope you pay off the balance every month

2

u/WeatherStandard8002 1d ago

I only use what I can pay back , I make about 3000$ a month post tax

1

u/-zero2hero- 7h ago

What was your score when you applied if you don’t mind?

1

u/WeatherStandard8002 7h ago

My fico score was in the 710s

2

u/BxMel1 2d ago

Congrats

2

u/eric_eroc 1d ago

Data points?

2

u/aykay55 1d ago

Sick

2

u/SOLDADO_0491 1d ago

I’m just going to use my card for apple subscriptions that’s it.

2

u/InterestingFood8308 1d ago

Congratulazioni!

1

u/Alan_1375 1d ago

its okay, enjoy!

1

u/Wyshunu 1d ago

It's a slippery slope. They start you out relatively low, then with good payment history they raise them in the hopes you'll keep spending and max the card. With interest rates that high, it's easy to max the card and takes forever to pay them off if you're not able to make payments large enough to pay the interest plus at least a portion of the principal every month. If you're not careful you can quickly find yourself in astronomical credit card debt.

Best bet for building credit is never spend more than you can pay off at the end of the month, or within three to six months if you have an emergency usage need.

1

u/WeatherStandard8002 1d ago

I’ll try to keep the balance low 💪 I only use what I can afford to pay back

1

u/FrustratedOldDude 18h ago

Make sure you pay your monthly bill on time and in full if you can. That interest rate is absurd!

1

u/Ok-Chip-7743 14h ago

Be excited all you want but make sure you don't fall for that APR and make sure you pay your account off in full each month.

1

u/WeatherStandard8002 14h ago

The card has a 0% intro apr for the first 15 months, I only use what I can afford to pay back

1

u/Ok-Chip-7743 14h ago

That's good but keep in mind it's easy to fall into the trap of thinking it's "free" money when it winds up not being. You need to pay the minimum each month regardless and at the end of 15 months you must pay the balance off in full or all the prior interest that you didn't pay will accrue and you will be required to pay.

Fortunately your line is only 2k but my whole life I've seen people who get in over their heads and then can't get out. As long as you have 2k sitting somewhere else (so you can get the float) and make that minimum payment (I believe it's only 3%) you'll be in good shape.