Approved for Discover it card

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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ScoreOnTheRise
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Approved for Discover it card

Postby ScoreOnTheRise » Sat Aug 16, 2014 2:06 am

I've been a long-time lurker of this forum and have learned a lot from everyone here. This forum has inspired me to take my credit more seriously.

Over the past year I've managed to raise my average credit score from 564 to 723 and I hope to keep it going.

A year ago I held a Capital One Platinum MasterCard with a $1K limit, a junk Visa card from Credit One Bank with a $400 limit (since increased to $800) and an American Express Green Card. All of these cards are still open and will remain so.

I've never really had any credit card with more than a $1000 limit. After all this hard work raising my score, I decided to apply online for the Discover it card and was pleasantly surprised to get approved for a $10K limit. I'm hoping that having significantly more unused available credit will help drive my score higher.

Do any experienced Discover card holders have any ideas on how to best manage this card to get CLI's in the near future?
American Express PRG [NPSL]
Chase Sapphire Preferred [$25K]
American Express BCE [$20K]
Discover it [$18.5K]
Barclaycard Arrival World MC [$6K]
Citi Diamond Preferred MC [$4K]
Citi Home Depot Consumer Credit Card [$3K]
Citi Best Buy Visa [$2K]


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PlyrStar93
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Postby PlyrStar93 » Sat Aug 16, 2014 2:17 pm

Congratulations on the approval, Discover is a good creditor overall. Also congratulations for the huge good improvement on your credit rating.

$10k on Discover is a pretty high limit, I was approved $2k when TU FICO was at 740 back in May, credit has no derogatory marks ever. Have seen some other people getting Discover but could hardly get credit limit increased. Until now, the request credit limit increase link still doesn't work for me. Therefore, I cannot tell how to "best manage" the card to get CLI's.

There indeed are some cases people put the card away, stop using it and get small automatic CLI's; some other people never get CLI's with Discover. If it's me I would be satisfied with $10k on the card and won't go for CLI, but maybe someone can get CLI by request.

And actually as you have said, as of the junk Credit One card, you may want to ditch it so you can save some money.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

mathman314
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Postby mathman314 » Sat Aug 16, 2014 3:45 pm

10k is really good for Discover. And to a person that has a 723 TU...maybe I'm not having luck with Discover.
I was approved back in December with a 2k limit at a 762 TU, second credit card and no derogatory marks. I got an auto CLI back in June literally 2 days or so after I requested one (my report doesn't show a hard pull so that's good) so now the CL is 2.3k. I remember somewhere MemberSince99 mentioned Discover is a pretty conservative lender but it's always YMMV. Like the above poster stated, I would be satisfied with a 10k limit and just roll with whatever auto cli's they give you.
Cards:
1FBUSA: 5.75k
Discover IT (for students): 4.6k
Chase Freedom (signature): 5k
Target REDcard: 1.5k
AmEx BlueCash Everyday: 5.5k

FICOs:
TU - 785 (December 2015)

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Aug 16, 2014 4:25 pm

Some anecdotal evidence suggests that they tend to give high limits when they think someone is a good credit risk and that person doesn't have several other prime cards with high limits. They may give CLIs after a period of disuse, but they may also like to see regular use - including lots of swipes for small transactions and things outside the rotating categories. Moderate use, though, may not help as much as either extreme. Anecdotes aren't reliable data here.

I would close the Credit One card before you have to pay any more fees on it. Keep the Capital One card for now, though, as some places still only take Visa and MC.

$10k is a huge limit from Discover. I really would not put much hope in getting a bigger one anytime soon, unless you're making a ton of money.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

432521
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Postby 432521 » Sat Aug 16, 2014 5:01 pm

I just upped my limit to 9500 and what I usually do is ask online or on the phone once every 6 months and if they tell me it is going to be a hard pull I stop it. This was actually the first time I have gotten them to up my limit and it being a soft pull.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

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otter
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Postby otter » Sat Aug 16, 2014 5:15 pm

I don't think anyone has figured out the secret formula Discover uses to determine CL's. The best I can see is this: Discover wants to be the star in your wallet- they want Discover to be your go to card, not just for the 5% categories, but for everything. So if you have limited cards, they'll reward you with high CL's because they know you will be "monogamous". If you have a CSP, a Chase Freedom, a couple Amex cards, a few travel rewards cards, and a 1-2-3 type card, don't expect more than a few K for a CL.

No worries... I did sign up for the 5% gas with Discover, I've yet to use the card this summer. When I go over the limit on Sallie Mae for gas, Freedom gets my swipes, not Discover. I even sent their cheap-arse $5 Starbucks gift card back to them this summer ("return to sender- REFUSED"). Don't send me a gift card unless you are going to give me a CLI...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Aug 16, 2014 5:26 pm

otter wrote:I even sent their cheap-arse $5 Starbucks gift card back to them this summer ("return to sender- REFUSED"). Don't send me a gift card unless you are going to give me a CLI...


Send it to me (or the number on it) next time! My reloadable Starbucks card is always hungry for more funding through balance transfers! :)
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

marlonbishop
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Postby marlonbishop » Sun Aug 17, 2014 2:15 am

A few weeks back i got approved for the discover it cc with a 5k limit it said my score was at 723 with Equifax. ill try and ask in 6 months for an CLI.
BoA Cash Rewards $4000
Macy's $1000
Discover it $5000
Chase Sapphire Preferred $5000
Chase Freedom $2000
Amex Green NPSL
Amex Gold Premier Rewards NPSL

Find me on MyFico: Sapingo (if you see me say hello)!

MemberSince99
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Postby MemberSince99 » Sun Aug 17, 2014 6:49 am

otter wrote:I don't think anyone has figured out the secret formula Discover uses to determine CL's. The best I can see is this: Discover wants to be the star in your wallet- they want Discover to be your go to card, not just for the 5% categories, but for everything. So if you have limited cards, they'll reward you with high CL's because they know you will be "monogamous". If you have a CSP, a Chase Freedom, a couple Amex cards, a few travel rewards cards, and a 1-2-3 type card, don't expect more than a few K for a CL.

No worries... I did sign up for the 5% gas with Discover, I've yet to use the card this summer. When I go over the limit on Sallie Mae for gas, Freedom gets my swipes, not Discover. I even sent their cheap-arse $5 Starbucks gift card back to them this summer ("return to sender- REFUSED"). Don't send me a gift card unless you are going to give me a CLI...



I totally understand about the limit with them. You've had that thing a year and it's only 2k which is kind of pathetic really I mean Cap One would probably give you that.


On the gift card, I got one but I used it and enjoyed my Frappucino on Discover's dime. I figured that's my CLI I will never get with them so what the hell.


Sad to say as good as their Customer Service is, I don't miss them in my wallet they are just too conservative for my tastes at this point. I have plenty of cards with decent limits so there just isn't a place for their 2k card that never, ever grows in my wallet anymore than there is for a Cap One card that never, ever grows. In all fairness to them, the last card they gave me was 4.5k, not bad, but it was never going up so I just decided to give the business to companies that took care of me.

popamode72
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Postby popamode72 » Sun Aug 17, 2014 7:25 am

MemberSince99 wrote:I totally understand about the limit with them. You've had that thing a year and it's only 2k which is kind of pathetic really I mean Cap One would probably give you that.


On the gift card, I got one but I used it and enjoyed my Frappucino on Discover's dime. I figured that's my CLI I will never get with them so what the hell.


Sad to say as good as their Customer Service is, I don't miss them in my wallet they are just too conservative for my tastes at this point. I have plenty of cards with decent limits so there just isn't a place for their 2k card that never, ever grows in my wallet anymore than there is for a Cap One card that never, ever grows. In all fairness to them, the last card they gave me was 4.5k, not bad, but it was never going up so I just decided to give the business to companies that took care of me.


I really love that mentality and have been inspired by that ever since I first started reading this forum. Sticking with the companies that have treated you the best and have gone the extra mile to provide you with the best service that they possibly can makes a whole lot of sense rather than bothering to leave a card open for like 2 or 3 years and not have it grow at all or the customer service being too stubborn. I really like Discover's customer service but I don't know what they're going to do with me long term with the college card I have with them. Been using it quite regularly too.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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