Author Topic: Discover Card versus Discover IT  (Read 52884 times)

Fireman

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Discover Card versus Discover IT
« on: January 08, 2014, 08:13:41 AM »
I called Discover yesterday to find out the percentage of purchases I was receiving in rewards on my credit card.  I wasn't very pumped when I found out I was only making 1/4 of a percent cash back on purchases up to $3000 especially since I doubt i'll go over this amount in a calendar year.  While on the phone, I asked about transitioning my account to the Discover IT card.  My research had shown that it had some good benefits including the same 5% on rotating categories but it also gave 1% cash back on everything else!  Plus, new IT customers would receive a $150 sign on bonus with $750 of purchases in three months.  Customer service was happy to change my account type and my membership date and rewards would transition to the new card.  However, I wouldn't be eligible for the sign on bonus. 

I ended up applying for the IT card with the intention of keeping the original card open but not using it (it's my oldest card).  After speaking with a representative and explaining what my plan was, she approved me on the new card but split my original credit limit 50/50 between the two cards.  I don't think this is a problem since according to the last credit report I ran (12/2013), my credit utilization was less than 5%. 

So...if you have the original Discover and want better rewards, you can transition to the IT card or sign up for a new one.  I included the link for the application page that has the $150 sign on bonus.  There you can see the other benefits of the IT card as well.

https://www.discovercard.com/cardmembersvcs/acqs/app/display?&pageFileId=listingsite&sc=KCV3&iq_id=a220088FOF518809696&pid=1032499&cmpgnid=ls-dca-flex-kcv3

brooklynguy

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Re: Discover Card versus Discover IT
« Reply #1 on: January 08, 2014, 02:07:27 PM »
Thanks for posting this.  Discover's website does a poor job of explaining that the It card is something different from the traditional Discover card (and, from what I can tell, it appears that the It card has replaced the traditional card as the only option available to new applicants).

From your post, it sounded like, by applying for a new It card while keeping your current card outstanding, you will be eligible for the $150 bonus.  Is that correct?  I am also a long-time holder of the traditional Discover card.  After reading your post, I applied for the It card, but it's unclear to me based on the terms and conditions whether the $150 promotion is available to any new It card applicant or whether all current Discover cardholders are excluded.

Fireman

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Re: Discover Card versus Discover IT
« Reply #2 on: January 08, 2014, 02:21:42 PM »
Thanks for posting this.  Discover's website does a poor job of explaining that the It card is something different from the traditional Discover card (and, from what I can tell, it appears that the It card has replaced the traditional card as the only option available to new applicants).

From your post, it sounded like, by applying for a new It card while keeping your current card outstanding, you will be eligible for the $150 bonus.  Is that correct?  I am also a long-time holder of the traditional Discover card.  After reading your post, I applied for the It card, but it's unclear to me based on the terms and conditions whether the $150 promotion is available to any new It card applicant or whether all current Discover cardholders are excluded.

I agree that it appears the IT is the only option available and that it is poorly advertised.

When I spoke with customer service (both before and after applying) they indicated that by signing up for the IT card as a 'new' customer, I would be eligible for the sign on bonus despite being a current member.  I did note that I had to link to a certain page on their website from an outside source because the $150 bonus wasn't readily advertised by Discover.

brooklynguy

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Re: Discover Card versus Discover IT
« Reply #3 on: January 14, 2014, 07:55:27 AM »
It appears that the Discover It card now also provides your FICO credit score for free on your monthly statement, which is a nice benefit.

tomq04

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Re: Discover Card versus Discover IT
« Reply #4 on: January 20, 2014, 04:55:46 PM »
I'm not seeing the $150 bonus on that webpage

Fireman

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Re: Discover Card versus Discover IT
« Reply #5 on: January 20, 2014, 05:13:21 PM »
I checked the original link and you're right, no bonus.  A google search led me to the site below which links to the site.  I tried to paste the direct link here and it shows the page but has weird errors.  Anyway, here's the site with the link.

http://ficoforums.myfico.com/t5/Credit-Cards/Discover-s-IT-150-Cash-back-UPDATED/td-p/2561071

PMG

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Re: Discover Card versus Discover IT
« Reply #6 on: January 29, 2014, 06:14:17 PM »
I got the Discover IT a few weeks ago.  I found it odd that I couldn't activate it online.  I hate phone calls! But, when I called my call was answered by a real live person.  No computerized voices at all.  We had easy conversation.  She answered some questions. Very nice experience.

I've been saving for a new computer, this was perfect timing to buy it.  I ended up getting a refurbished Mac.  By buying it on the credit card Discover adds a year to my warranty.  By accessing the Apple Store through their website I was able to get a 5% cash back on the purchase.  That purchase also hit the $750 mark to earn their $150 reward. 

I'm curious to see what the next set of rotating 5% cash back categories are.  The current restaurant and movies category is not one I spend a lot in, but getting 1 percent back on bills is sure better than nothing!


theSchmett

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Re: Discover Card versus Discover IT
« Reply #7 on: January 30, 2014, 04:20:23 AM »
I'm stuck on the OPs 1/4 % cash back. I use Discover and I thought I was getting at least 1% on everything.

Fireman

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Re: Discover Card versus Discover IT
« Reply #8 on: January 30, 2014, 10:02:38 AM »
I'm stuck on the OPs 1/4 % cash back. I use Discover and I thought I was getting at least 1% on everything.

The Discover IT is 1% on everything but IIRC the plane Jane Discover was 1/4% up to a certain amount ($3000 maybe) and then it increased to 1% after that. 

I'd call and confirm your own account.  The experience was quick and pleasant and they pointed out other ways I could make extra money as well.

MissPeach

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Re: Discover Card versus Discover IT
« Reply #9 on: January 31, 2014, 11:49:23 AM »
This may be a silly question but has anyone noticed any issues with their credit opening and closing cards (churning)? I would imagine as long as you keep your larger credit limit and oldest cards if shouldn't make any difference. Just want to see if I missed a catch for this. The only thing I really can see if the 5-10 point hit for an inquiry.
« Last Edit: January 31, 2014, 11:56:11 AM by MissPeach »

Fireman

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Re: Discover Card versus Discover IT
« Reply #10 on: January 31, 2014, 01:47:34 PM »
Check out these topics:

https://forum.mrmoneymustache.com/welcome-to-the-forum/credit-cards-rewards-and-sign-on-bonuses-(churning)/
https://forum.mrmoneymustache.com/welcome-to-the-forum/cc-usage/

You can also Google credit card churning.  Yes it can lower your credit but most successful churners say that it will come back up again.  Like you suggested, I would recommend keeping your oldest card and highest limit card whether you use them or not. 

nordlead

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Re: Discover Card versus Discover IT
« Reply #11 on: January 31, 2014, 02:08:10 PM »
This may be a silly question but has anyone noticed any issues with their credit opening and closing cards (churning)? I would imagine as long as you keep your larger credit limit and oldest cards if shouldn't make any difference. Just want to see if I missed a catch for this. The only thing I really can see if the 5-10 point hit for an inquiry.

If you have an established credit history it isn't the opening/closing accounts that kills you, it is the hard inquiry count. Companies don't like to see 6-8 of them on your account. Luckily, those drop off after 2 years and are most important in the first 6 months. So the worst thing you can possibly do is open 8 accounts within 6 months. There is a good chance after that, that you can't open any more accounts until the hard inquiries drop off at which point you should have good credit again.

Fireman

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Re: Discover Card versus Discover IT (Referral for $100)
« Reply #12 on: February 01, 2014, 04:28:52 PM »
So I was thinking that we could turn this into a referral thread, much like Ting.  Discover IT offers $50 to both parties once the card is activated and a purchase is made.  So if it works, everyone after me will pick up $100 ($50 for being referred and $50 for referring).  I'll get it started (hopefully)!

Edit:  Link removed until the $150 on $750 is no longer an option.  Then we can cycle referrals.
« Last Edit: February 01, 2014, 05:36:52 PM by Fireman »

daverobev

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Re: Discover Card versus Discover IT
« Reply #13 on: February 01, 2014, 05:29:51 PM »
Yeah but there is a $150 sign up bonus after $750 spend available.. better off doing that!

rockstache

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Re: Discover Card versus Discover IT
« Reply #14 on: February 03, 2014, 07:20:52 AM »
Yeah but there is a $150 sign up bonus after $750 spend available.. better off doing that!

I can't find this right now...has it ended?

Fireman

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Re: Discover Card versus Discover IT
« Reply #15 on: February 03, 2014, 08:00:11 AM »
I checked the original link and you're right, no bonus.  A google search led me to the site below which links to the site.  I tried to paste the direct link here and it shows the page but has weird errors.  Anyway, here's the site with the link.

http://ficoforums.myfico.com/t5/Credit-Cards/Discover-s-IT-150-Cash-back-UPDATED/td-p/2561071

I just tried this link and it's good. One you get to that site click for the offer.

theSchmett

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Re: Discover Card versus Discover IT
« Reply #16 on: February 03, 2014, 08:35:14 AM »
Well, I upgraded my existing card, I missed the part about the signon bonus, but at least I don't have to completely reboot my account login etc... oh who cares about that... 8(

rockstache

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Re: Discover Card versus Discover IT
« Reply #17 on: February 03, 2014, 08:45:19 AM »
I checked the original link and you're right, no bonus.  A google search led me to the site below which links to the site.  I tried to paste the direct link here and it shows the page but has weird errors.  Anyway, here's the site with the link.

http://ficoforums.myfico.com/t5/Credit-Cards/Discover-s-IT-150-Cash-back-UPDATED/td-p/2561071

I just tried this link and it's good. One you get to that site click for the offer.

Thank you! That worked perfectly!!

 

Wow, a phone plan for fifteen bucks!