Discover IT card-free monthly FICO score plus...

Discussion in 'Other Credit Card Programs' started by jbcarioca, Jan 14, 2014.  |  Print Topic

  1. jbcarioca
    Original Member

    jbcarioca Gold Member

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    The Discover IT card has now been around for a year. Payments.com had an interview with a senior Discover executive who described how the card features came about.

    As many of us know the IT card has a few features that are both popular and rarely seen, among which are:

    No late fees;
    No overlimit fees;
    Free monthly FICO score;
    A rebate system that includes period "specials", extra rebates in a specified category.

    Not so rare but welcome:
    No annual fee.

    http://www.pymnts.com/briefing-room...14&utm_campaign=January+8+NL&utm_medium=email

    This is one of the best consumer values around.

    For the record I do have one of these myself and I have a business relationship with Discover. Thus, I do not think I am biased but neither can I claim 100% third party objectivity.
     
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  2. servo

    servo Silver Member

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    I've heard IT marketed as "first late fee waived", rather than NO late fees. However, I got the card last year as well and the 5% promos + the great shopping portal bonuses over the holidays, I've earned about $500 in cash back already. It's a highly underrated card.
     
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  3. John Deere

    John Deere Silver Member

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    I rather spend on the freedom card. It has better reward options than plain cash back (only because I also have the sapphire preferred card, so I can transfer to Airlines)
     
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  4. servo

    servo Silver Member

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    I'd rather avoid wasting a Chase card for something when I can get 10% bonuses from Discover that you can't get from the UR portal and just spend more on the CSP or Ink card to get additional URs that I might have otherwise received from the Freedom spend. To each their own. I don't have Freedom and won't get it. I'd prefer to keep acquiring their other hotel and airline cards. I don't think Freedom is that much more valuable than Discover when Chase offers some of the more valuable cards for loyalty programs and it's usually a 5-6 card limit for most people. (I've already got IHG,CSP, Airtran, BA and Ink Plus and have plans for Hyatt and the WN companion pass - just can't afford to have Freedom in my wallet, especially with devalued UR recently with UA and WN)
     
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  5. John Deere

    John Deere Silver Member

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    Maybe I'm just happy with it cuz im still on the old freedom exclusives.... ;)
     
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  6. beachminter

    beachminter Member

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    Like the added benefit of my FICO score. Amazing to see the big differences between brands as my FICO from Discover is about 40 points higher than from Experian.
     
  7. othermike27

    othermike27 Silver Member

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    Agreed. Discover now reports my FICO score on my old More card from Trans-Union - I assume that's the source for all the scores they report.
     
  8. bigx0

    bigx0 Gold Member

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    I was stunned to see the FICO score they reported, especially since I saw it not too long ago elsewhere. I strongly think the wrong score was given. (If an error, at least it was in the "good" direction though!)
     
  9. othermike27

    othermike27 Silver Member

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    Well, if you're concerned that your records are messed up, you can always order one or all three FICO scores from myfico.com (for a fee of course). I have done that in the past, and comparing FICO and FAKO scores shows differences of 20-50 points (my experience). Even all three FICOs show a spread of 10-30 points.
     
  10. bigx0

    bigx0 Gold Member

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    Yes, thanks, I could pay. I do keep track of what's on the reports... at least the FICO which Discover reported was absurdly good rather than bad, so I probably will just keep an eye on things. (Well, yes, it should be good, but even I have my limitations :))
     

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