It has a $0 annual fee, does not charge interest for the first 14 months, and gives up to $20 cash back each quarter for purchases at gas stations and restaurants. Your initial credit limit will be based on a review of your credit report, income, debt and other information to determine your creditworthiness. Discover’s only travel card isn’t very exciting. Your initial credit limit will be based on a review of your credit report, income, debt and other information to determine your creditworthiness. But if you have a Discover card, you can request a credit limit increase on your card too. Sign-up bonus: None: For new cardmembers, Unlimited Cashback Match – only from Discover. It’s possible you have a low initial credit limit with Discover because of your credit history. If your teen has a job, that’s great. Close • Posted by 5 minutes ago. However, some secured credit cards limit maximum credit lines to as low as $1,000 – or even less if you can only afford to deposit a few hundred dollars. The gas and restaurant cash back is definitely useful to me. Back in July I applied for a Discover card and got a $4,000 limit which at the time was my highest limit credit card. Today, there was a bit excitement for me in the credit world. My wallet : Amex Zync NPSL , Discover More $3500, BankAmericard Cash Rewards $1000, Walmart Discover $1400, Chase Freedom $1000, Capital one Platinum $1000, Macy's Store card $100, Amazon Store card $1400, Southwest rapid rewards $5000, Marriot Visa $5000. I was given a $500 limit. The Discover it® Secured card could be a great option if you’re looking to build credit and have the ability to cover the $200 minimum security deposit. My total credit limit on the Chase cards is $45,000 with a current balance of $1,650, which is average for any given month. Crazy thing is that I applied for second Discover card and was approved for $12k while still being denied for an increase on the first with their reason being "insufficient experience at current limit" or whatever jingle they use. Will applying for this secured credit card generate an inquiry on my credit report? These rewards go even further with double cash back in the first year. Learn more: View Discover it® Student Cash Back card details to apply. I can supply more detail, if needed. Discover's flagship card, the Discover it® Cash Back, offers 5% cash back in quarterly categories that you activate. That means any Discover credit card you apply for now will have no foreign transaction fee, and you won’t be charged extra for making purchases that are processed internationally. Here’s an example of how a credit limit increase can improve your credit score: Imagine that you have a credit card with a $2,000 limit and a $1,000 balance. If your initial credit limit given is very low, don't worry. We have tried many times to get them to increase it to something a little higher - even $1000-2000 would help in case of car repair, travel etc. How to increase my Discover credit limit. Not only does the U.S. Bank Secured Visa Card offer one of the highest credit limits currently available on a secured credit card, but it also comes with a manageable annual fee, relatively low APR and perks that can help keep your credit-building efforts on track.. You can put down anywhere from $300 to $5,000 as a refundable deposit and get a matching credit limit. Discover does not permit applicants to request a specific credit limit. Your credit rating will often determine your initial credit limit, but if you want to keep your spending levels low, you can contact the issuer to request a lower limit after you’re approved. User account menu • Low initial limit on Chase Amażon Rewards. That way I'm at least building credit with normal expenses. That, in turn, can limit how freely you use your new credit card – especially if you’re trying to cultivate a stronger credit score and avoid maxing out your card every month. With the Discover it® chrome, you earn up 2% back on food and gas. But now that you’ve been a Discover customer for some time now, it may be advantageous to get a new card altogether. It's been stuck at $4200 for a couple of years. Get all the details in our review. I called this morning asking the same question. It has a long introductory APR for purchases and balance transfers, and as an extra incentive, Discover will double the cash back you earn for your first year. Press question mark to learn the rest of the keyboard shortcuts. The Discover it credit card is designed to help you earn high amounts of cash back throughout the year.. Its most defining feature is a cash back program that offers 5% … Credit Score: 660 Credit Limit: 500 Age: 18-24. They insist all accounts wait 6 months before a credit limit increase can be considered. Recently got a chase freedom unlimited card, they gave me an initial limit of $3200 with is incredibly low compared to my other cards. Re: Discover(More) initial credit limit? The Discover it® Cash Back is quite popular. Secured Now Unsecured. Posted 04/17 2017 . But, before you get started, it’s important to realize that the Credit Card Accountability Responsibility and Disclosure Act of 2009 requires that people under 21 years old show that they are able to repay the credit card balance — i.e., have an income. Discover does not permit applicants to request a specific credit limit. However, the new card came with a $500 credit limit. Online credit card limit calculators can give you a vague idea of what your credit limit might look like. Lower credit limits, card closures coming from Capital One and Discover. Discover it® Reviews | Credit … Credit Cards. Overall Rating: This was the first card I applied. My first Discover was approved with a $2700 limit. Automatic credit limit increases. I'd like Discover because they have easier approval rates for people looking for their first credit card, from what I hear, and I'd like to hopefully use it for gas, groceries, restaurants, and possibly utilities/rent. The Discover it Chrome and Cash Back student cards are among the best in their class. The Discover it Chrome card is an easy way to earn some cash back on gas and at restaurants. All three cards also have $0 annual fees and require good credit or better for approval, so rewards will have to be the tiebreaker in terms of choosing which Discover card to transfer a balance to. I had a Discover card previously (opened in the 90s) that was closed several years ago by Discover due to inactivity. Make sure to have your bank routing number and account number handy when you apply. So, we are ready to walk away from Citibank, … Discover it® chrome is a good all-around credit card for people with good credit (or better), especially those whose top expenses include gas and dining out. You need a credit card for limited credit but are not a student, or you need a credit card with a 0-percent intro APR on balance transfers to help pay down an existing card balance. Increased by $1k and then by $500. You’ll find four ways to increase your credit limit with Discover. Discover will … You can also deny future credit limit increases to keep your limit the same for as long as you like. So we did - and then canceled the old card. Your credit utilization rate would be 50% in this scenario ($1,000 Balance ÷ $2,000 Limit = .50 X 100 = 50% Utilization). Your maximum credit limit (up to $2500) will be determined by your income and ability to pay. Understand Your Options. Discover it® Secured: $200: $2,500: Capital One® Secured Mastercard® $200: $1,000: Wells Fargo Secured Credit Card: $300: $10,000: How to use an online credit limit calculator. The credit limit was much, much lower than what I typically … Press J to jump to the feed. Now, after a few months, they gave me a credit limit increase of $500. If you have been using your card responsibly for several months, Chase may automatically award you an increase. Just got instant-approved for the Chase Amażon card (for the 5% cash back on Amazon). The Discover it® Miles card doesn’t even really have much to do with travel, outside the name (it used to have a small airline WiFi credit, but no longer).. There are ways to get it increased over time. When you apply for a new credit card, your initial credit limit is based on your credit score, income, and debt. The Discover it Chrome and Cash Back student cards are among the best in their class. This request is one of the many credit cardholder’s rights that you have, but may not know about. It offers 5% cash back on select categories of purchases that rotate throughout the year, up to $1,500 spent per quarter (then 1%; activation required).. Citing mounting concern about the economy, these two major credit card issuers are both tightening the credit reins as a precautionary measure as our robust economic cycle gets a little long in the tooth. Log In Sign Up. I have a question, do cc base the credti limit on your income or your actual fico? Not bad, but also not good. There are some good first credit card options for young adults. Discover it® Cash Backis intended for people with good credit and a 670 FICO score or higher. The Discover foreign transaction fee is 0%, or $0, on all cards. The Discover it Cash, Discover it Chrome and NHL Discover it cards are the best Discover cards for balance transfers because all three offer this 0% for 14 months deal to new applicants. Not long after this, I got the Citi ThankYou Preferred and was given $1000 limit. Discover has many great cards that offer introductory APRs on both balance transfers and purchases, cash back rewards, and sizable credit limits. 1% unlimited cash back on all other purchases - automatically. NOPE. It's been a couple months, so today I decided to try for a credit increase and hit that lovely luvvy-luv button. Since this card has no annual fee that means you can earn quite a profit. See if You're Pre-approved; Respond to a Mail Offer; All Credit Cards; Cash Back Credit Cards — Cash Back Card — Gas & Restaurants Card — NHL ® Card; Student Credit Cards — Student Cash Back Card — Student Gas & Restaurants Card; Travel Card; Credit Building Card; Business Card; Discover vs. I've never had a late or missed payment on anything. AvantCard Credit Card Discover it® Secured; Annual fee: $39: $0: Minimum deposit: $0: $200: Rewards: None : 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Yes, if you submit an application, an inquiry will be placed on your credit file. Discover will also double the rewards you earn in your first year with its Cashback Match offer. 5 years ago. Before you go about requesting a credit limit increase from Discover, make sure you take time to think about why you want to increase your credit limit. Discover Card paid me back my $200 Deposit and increased my limit to $2,000. Read more: Compare More Discover Credit Cards; The Best Credit Cards For Young Adults For people discover it card initial credit limit good credit and a 670 fico score or higher after! New card came with a $ 500 with good credit and a 670 fico score or higher applied! 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