Opened a Discover Bank account on recommendation of a friend. Tried to mobile deposit a big check which they refused. Told me the mobile deposit limit is $500. So I connected my credit union account and transferred several thousand dollars. They refused again. So I called customer service and the SUPER cheerful lady with the Indian accent explained that my account (because it's new) has a total deposit limit of - get this - $500 PER MONTH. She further informed me, still cheerfully, that no, they could not increase that, but that "the limit will gradually increase over time, but not on any set schedule". I explained to her - not at all cheerfully - that that would certainly work for me if I was a child, but having an actual job, I needed to work with somewhat larger numbers, and since she was powerless to give me any useful information whatsoever, I would be opening an account elsewhere. What's even more ironic is they offered a $150 bonus if I deposited 15k in the next 6 months. Clowns.🤡
Hey guys, just wanted to know what your thoughts and opinions are on Discover Banking? Is it a pretty good checking account? Any problems or anything? I want a bank account but just not sure who I should go with. Any perks to Discover Banking? Any downsides? Just wanting to hear from people that use it themselves or have had an experience with it.
Just got back in with Discover after a charge off of $400 or so (CO in 2017) I paid it off with Discover directly in Jan or Feb of 2022. It finally fell off my report and they gave me a secured card. Good to be back, especially now that I'm employed and more responsible.
My experience so far leads me to believe they're run like 2 almost seperate companies. I Zelled money into my Discover checking to find my new card and it was still an ACH, not instant, like a lot of banks can do.
I'm curious if putting a small direct deposit of 10% of my paycheck in the Discover checking. That would easily cover the $600 limit I chose so I could keep it paid off and I could stick the rest in the Discover savings, which is a decent yield as savings go. Not really concerned with yield, mostly "looking good" to Discover.
Certainly, the paying off the card in full will look good, but can they also see I'm building a small savings amount there and would that influence the credit side at all when they unlock me and decide on a CLI?
Unless someone has worked for Discover or maybe been told directly, I understand some of this may be speculation.
I'm also looking for tips on graduating the card to the highest limit possible. What are the agreed upon "best ways to use it?" Max the card but pay it off before statement date? Max the card multiple times and pay it off, and run the majority of my expenses through it and keep it paid off as it hits the limit, then have it paid to 0 before statement? Leave some small, maybe $50 balance on statement?
I don't want them to boot me for "manufactured spending" or "churn" or anything, so if anything I've mentioned is frowned upon by then, let me know.
Thanks in advance.