Discover Card Application
Guest: dbnyc
Post subject: Discover Card Application
Posted: Fri Apr 22, 2005 12:40 pm
I've been tossing around the idea of actually accepting one of those "play-with-fire" 0% for life Discover pre-approved offers.
Anyway, usually, other pre-approved offers have a phone number or website that you can apply and very quickly get an answer. However, I've scoured all over the Discover offer, and can't seem to find any phone# or website.
Does this mean it can only be done by paper/snail-mail?
Has anyone applied for one of these, and how long does it really take for the snail-mail application to be processed?
TIA!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: CreditCardGuru
Post subject: Discover Card Application
Posted: Fri Apr 22, 2005 5:44 pm
I don't really know, I don't much like Discover myself, after what they did to a friend. I prefer VISA and MasterCard, and now AMEX is getting to the more than one bank thing, but Discover only has one bank....I like the idea of banks competing....like the commercial on TV, when banks compete, you win!
I'm the Credit Card Guru, YOU BET
Guest: guessindigo
Post subject: Discover Card Application
Posted: Sat Apr 23, 2005 1:13 pm
Yes. There is never a phone number to call in your app, nor is there a website to respond to a preapproved offer.
Sucks I know, but thats just how Discover is.
Guest: Board Monitor
Post subject: Discover Card Application
Posted: Sun Apr 24, 2005 9:16 am
dbnyc,
Greetings and thanks for your post! Are they requiring you to make a minimum purchase every month? If so, what is the amount? Please advise.
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: CreditCardGuru
Post subject: Discover Card Application
Posted: Sun Apr 24, 2005 4:32 pm
Discover is a low budget business....if you have ever noticed, they use the same commercial every Christmas.....that shows low budget....LOL
I'm the Credit Card Guru, YOU BET
Guest: dbnyc
Post subject: Discover Card Application
Posted: Mon Apr 25, 2005 10:36 pm
Hi, the details of the Discover offer are pretty standard from what I've read.
The most recent one I have is 0% APR until the first statement that includes Nov 1st 2005.
Beginning with that statement, you must make 2 purchases every cycle to extend the 0% APR rate. I'm assuming this means it's safest to start making the purchases by Oct 31st. There is no minimum dollar amount mentioned. So, looks like I could theoretically go to my local drugstore chain and buy a candybar one day, and a small bottle of water the next day (or even a few hours later). That's 2 purchases of less than $1 each.
Thing is, I've decided after all, that this really is like playing with fire... and maybe it's better to just do the Citibank Dividend application w/ 0% APR for a year... I know if I could remember to do the 2 purchases each month, it'd be worth it for minimal-cost loan (only interest on the tiny purchases), except it's really pushing my luck to think I would never forget. Heh.
I don't know, I get these 0% for life offers from them every few months, and each time they are so tempting. The finance-major in me wants to take the offer, and put my money elsewhere to earn "free" interest. Still... just might be too risky.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Post subject: Discover Card Application
Posted: Tue Apr 26, 2005 8:52 am
Good points. I know the one I was looking at a few months back required a $25-$50 minimum purchase every month. That could add up pretty quick. Let us know how things turn out...
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: CreditCardGuru
Post subject: Discover Card Application
Posted: Tue Apr 26, 2005 3:05 pm
That's why I don't like them, they always have hidden agreements.
I'm the Credit Card Guru, YOU BET
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Discover Card Application
Posted: Wed Apr 27, 2005 2:41 pm
Like you said, the Discover offer is gimmicky and risky. Also, if you don't pay in full - balance transfer as well as purchase balance - every month, you will be hit with a purchase finance charge. Reason: your payments are always applied to the lowest interest balance first. Therefore you will never get to pay off your purchases and will get hit with a small but growing finance charge each month until you get to a total zero balance. That's the gotcha which I would avoid like the plague.
Post subject: Discover Card Application
Posted: Fri Apr 22, 2005 12:40 pm
I've been tossing around the idea of actually accepting one of those "play-with-fire" 0% for life Discover pre-approved offers.
Anyway, usually, other pre-approved offers have a phone number or website that you can apply and very quickly get an answer. However, I've scoured all over the Discover offer, and can't seem to find any phone# or website.
Does this mean it can only be done by paper/snail-mail?
Has anyone applied for one of these, and how long does it really take for the snail-mail application to be processed?
TIA!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: CreditCardGuru
Post subject: Discover Card Application
Posted: Fri Apr 22, 2005 5:44 pm
I don't really know, I don't much like Discover myself, after what they did to a friend. I prefer VISA and MasterCard, and now AMEX is getting to the more than one bank thing, but Discover only has one bank....I like the idea of banks competing....like the commercial on TV, when banks compete, you win!
I'm the Credit Card Guru, YOU BET
Guest: guessindigo
Post subject: Discover Card Application
Posted: Sat Apr 23, 2005 1:13 pm
Yes. There is never a phone number to call in your app, nor is there a website to respond to a preapproved offer.
Sucks I know, but thats just how Discover is.
Guest: Board Monitor
Post subject: Discover Card Application
Posted: Sun Apr 24, 2005 9:16 am
dbnyc,
Greetings and thanks for your post! Are they requiring you to make a minimum purchase every month? If so, what is the amount? Please advise.
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: CreditCardGuru
Post subject: Discover Card Application
Posted: Sun Apr 24, 2005 4:32 pm
Discover is a low budget business....if you have ever noticed, they use the same commercial every Christmas.....that shows low budget....LOL
I'm the Credit Card Guru, YOU BET
Guest: dbnyc
Post subject: Discover Card Application
Posted: Mon Apr 25, 2005 10:36 pm
Hi, the details of the Discover offer are pretty standard from what I've read.
The most recent one I have is 0% APR until the first statement that includes Nov 1st 2005.
Beginning with that statement, you must make 2 purchases every cycle to extend the 0% APR rate. I'm assuming this means it's safest to start making the purchases by Oct 31st. There is no minimum dollar amount mentioned. So, looks like I could theoretically go to my local drugstore chain and buy a candybar one day, and a small bottle of water the next day (or even a few hours later). That's 2 purchases of less than $1 each.
Thing is, I've decided after all, that this really is like playing with fire... and maybe it's better to just do the Citibank Dividend application w/ 0% APR for a year... I know if I could remember to do the 2 purchases each month, it'd be worth it for minimal-cost loan (only interest on the tiny purchases), except it's really pushing my luck to think I would never forget. Heh.
I don't know, I get these 0% for life offers from them every few months, and each time they are so tempting. The finance-major in me wants to take the offer, and put my money elsewhere to earn "free" interest. Still... just might be too risky.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Post subject: Discover Card Application
Posted: Tue Apr 26, 2005 8:52 am
Good points. I know the one I was looking at a few months back required a $25-$50 minimum purchase every month. That could add up pretty quick. Let us know how things turn out...
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: CreditCardGuru
Post subject: Discover Card Application
Posted: Tue Apr 26, 2005 3:05 pm
That's why I don't like them, they always have hidden agreements.
I'm the Credit Card Guru, YOU BET
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Discover Card Application
Posted: Wed Apr 27, 2005 2:41 pm
Like you said, the Discover offer is gimmicky and risky. Also, if you don't pay in full - balance transfer as well as purchase balance - every month, you will be hit with a purchase finance charge. Reason: your payments are always applied to the lowest interest balance first. Therefore you will never get to pay off your purchases and will get hit with a small but growing finance charge each month until you get to a total zero balance. That's the gotcha which I would avoid like the plague.
posted by CardRatings.com at 1:04 PM
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