I just got approved for a $500 Discover card!

[RichieRich2]

As the title says! I was just approved for a $500 Discover (now says Discover by Capital One. Okay) card. That was their counter, did this through their website applying for Discover It and this was their counter and I took it. 

 

Capital One used to give CLIs if you maintained good account history etc so... This is my chance to not max the card out and screw the opportunity up.

 

My question is, simply, how to best use it as far as how much to spend a month, how to calculate dates, and how to really manage this one well, since I have about 7-10 accounts to pay off, mostly revolving open and unsecured credit cards. I'm ignoring the "collections" for now. They are mostly dormant, so.. What is the best strategy about how to use and pay this $500 limit card?

 

Thank you!

[chicagorich]

What's your goal? If you have balances on multiple accounts, some late, you won't get many or any credit limit increases on the Dicso card.

[ShawnPY1972]

On 6/27/2026 at 8:28 AM, RichieRich2 said:

As the title says! I was just approved for a $500 Discover (now says Discover by Capital One. Okay) card. That was their counter, did this through their website applying for Discover It and this was their counter and I took it. 

 

Capital One used to give CLIs if you maintained good account history etc so... This is my chance to not max the card out and screw the opportunity up.

 

My question is, simply, how to best use it as far as how much to spend a month, how to calculate dates, and how to really manage this one well, since I have about 7-10 accounts to pay off, mostly revolving open and unsecured credit cards. I'm ignoring the "collections" for now. They are mostly dormant, so.. What is the best strategy about how to use and pay this $500 limit card?

 

Thank you!

 

What I do with most of my credit cards is anything I charge I pay whatever amount off prior to my account cycling so my account bills or cycles with no balance.  I always did this with Discover Card and Capital One and I still got credit line increases after 6 months.  Both of these accounts are closed now.  I had problems with my Capital One card pertaining to an authorized user and I decided to close out my cards with them.

[Flyingifr]

On 6/27/2026 at 11:28 AM, RichieRich2 said:

As the title says! I was just approved for a $500 Discover (now says Discover by Capital One. Okay) card. That was their counter, did this through their website applying for Discover It and this was their counter and I took it. 

 

Capital One used to give CLIs if you maintained good account history etc so... This is my chance to not max the card out and screw the opportunity up.

 

My question is, simply, how to best use it as far as how much to spend a month, how to calculate dates, and how to really manage this one well, since I have about 7-10 accounts to pay off, mostly revolving open and unsecured credit cards. I'm ignoring the "collections" for now. They are mostly dormant, so.. What is the best strategy about how to use and pay this $500 limit card?

 

Thank you!

Step 1 - put the card in your sock drawer.

Step 2 - on your birthday, remove the card from your sock drawer, fill up your gas tank using it, then promptly put the card back into your sock drawer.

Step 3 - wait 5 days, go on line to Cap1's web site and pay off the card.

Step 4 - Go to Step 1.

 

Follow that and you should never screw up that card again.

[ShawnPY1972]

On 7/6/2026 at 6:10 AM, Flyingifr said:

Step 1 - put the card in your sock drawer.

Step 2 - on your birthday, remove the card from your sock drawer, fill up your gas tank using it, then promptly put the card back into your sock drawer.

Step 3 - wait 5 days, go on line to Cap1's web site and pay off the card.

Step 4 - Go to Step 1.

 

Follow that and you should never screw up that card again.

 

I think at least one charge a month and promptly pay that off each month and every 6 months should qualify for higher credit line.

[Flyingifr]

You are talking about Cap1 - an bank that is stingier with CLI's than the Grinch.

[RichieRich2]

19 hours ago, Flyingifr said:

You are talking about Cap1 - an bank that is stingier with CLI's than the Grinch.

 

I second his question though.. isn't it important to show use? Like use that card once a month to fill up my tank, then return it to said drawer.

 

I also got approved for a $1000 First Premier card. I'm still debating Snowball vs Avalanche method for my other cards. The conclusion I keep coming to, is: "Pay off the largest balance which is larger by 4x than any of your other balances so it doesn't eat you alive, then turn the guns on your next highest balance" - about 2 or 3 months of this and I should be allll paid off, .... I am not sure if that is Snowball vs Avalanche but since all the interest rates are high, that seems my most logical point of attack. 

 

I still have the chance to manage this $500 Discover/Capital One card and $1000 First Premier card properly. I could have sworn that First Premier does NOT charge an Annual Fee but, given that is now my 3rd highest limit.. how do I handle that, too?