Discover IT CLI question

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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DeeJay8385
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Discover IT CLI question

Postby DeeJay8385 » Wed Oct 01, 2014 4:29 pm

The last auto CLI I received was in 12/2013. I've tried doing a CLI online and was told to call customer service and when I did, I was told that they needed to do an inquiry in order to determine an increase. I've been trying every 3 months for a CLI and had this message every time. Will it be worth it to get an inquiry in order to receive an increase or not?
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14


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PlyrStar93
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Postby PlyrStar93 » Wed Oct 01, 2014 4:32 pm

Personally, with the 3x soft pull CLI ability from AMEX, the hard pull CLI from Discover would be worthless.
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.

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Vattené
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Postby Vattené » Wed Oct 01, 2014 4:49 pm

That is really a decision only you can make. How important is it to you to keep inquiries off your profile? Do you think your chances will be good if you took an inquiry (it looks like your average age of account is decent, have you been PIF on your cards / do you have any derogs on your profile / etc.)? Do you NEED a CLI? In other words, are you making multiple payments a month because you are hitting your CL, or do you just want one for improved utilization? There is nothing wrong with the latter, but it may not be wise to take a HP hit on the chance you will get it.

I don't think it would be worth it, personally. With consistent denials from Discover based on their internal analysis of your history with them, I would be worried about my odds. But, hey, if you think your chances are good and you don't mind taking another HP, by all means go for it.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

takeshi
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Postby takeshi » Thu Oct 02, 2014 9:12 am

DeeJay8385 wrote:Will it be worth it to get an inquiry in order to receive an increase or not?

We can't tell you that. For one thing we can't determine whether anything is worth it to you or not. It doesn't matter what the topic is. That's your call to make.

Second, we have no idea what your potential CLI could be or if you even qualify for one. We don't know the details of your credit (CLI's aren't just handed out in exchange for time) and we are not Discover underwriters.

If you want to find out then take the pull. If you want to avoid the pull then don't request the CLI. You have to determine which is the bigger priority for you.

When I was presented with the same with Discover it was definitely worth it to me but I'm not fretting over every possible HP on my reports. My credit also supported a CLI that nearly doubled my limit. YMMV.

PlyrStar93 wrote:Personally, with the 3x soft pull CLI ability from AMEX, the hard pull CLI from Discover would be worthless.

For me the two aren't relevant to each other. If I want an AmEx CLI I'll request an AmEx CLI. If I want a CLI from another creditor then I'll request the CLI from the other creditor whether HP or SP. The 3x CLI doesn't preclude me from requesting other CLI's.

A CLI from AmEx can help with overall utilization but it won't help with individual utilization on other cards.

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Vattené
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Postby Vattené » Thu Oct 02, 2014 10:18 am

This is a perfect illustration of why this is a subjective evaluation only you can make, without even taking into account the odds of success. I am more HP-averse and happier working within my current limits if it means not taking an inquiry ding. This mindset is informed by the fact that I am also establishing my credit, so a HP has a relatively larger impact. Takeshi, on the other hand, would gladly accept a HP for a higher CL.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Berk
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Postby Berk » Mon Oct 06, 2014 6:57 am

In other words, just wait for Discover to give you an auto CLI. I have been dinged a few times for excessive inquiries and it has only cost me a point or two on my FICO. Don't know what it would do for you. Wait is my advice.
Fico Scores 05/25/2015
Equifax 766
TransUnion 788
Experian 797

Over $140,000 in credit across 12 cards.

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Terry
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Postby Terry » Mon Oct 06, 2014 9:27 am

DeeJay8385 wrote:The last auto CLI I received was in 12/2013. I've tried doing a CLI online and was told to call customer service and when I did, I was told that they needed to do an inquiry in order to determine an increase. I've been trying every 3 months for a CLI and had this message every time. Will it be worth it to get an inquiry in order to receive an increase or not?


Several years ago I allowed Discover to perform a hard pull for a CLI. I went from $1,700.00 to $10,000.00 - for me it was worth it, but no one knows in advance what results one might get.
AMEX Green Card - NPSL [Member Since 1995] ;)
AMEX Everyday Card ($25,000) 6/14 Backdated to 1995 - For 20% Extra Points Benefit
Chase Freedom Visa Signature ($17,000) - For 5% rotating categories
Citi ThankYou Preferred Visa Signature ($16,000) - 2% dining
Discover IT Humane Society Design ($16,500) - For 5% rotating categories
Firestone ($2,600) - For 0% financing
Home Depot ($10,000) - For 0% financing
JCPenney Credit Card ($7,000) - For special discounts
Sam's Club MasterCard - ($20,000) - 5% off gas at any fuel pump
Wells Fargo Personal Line of Credit - ($15,000)

FICO's - 767 EX, 778 EQ, 790 TU [02/2015]

MemberSince99
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Postby MemberSince99 » Mon Oct 06, 2014 4:51 pm

Yep total crapshoot - you might hit the lottery or you might get hard pull and no CLI, or something in between, and no one here can say which it will be. It's just up to you if you are willing and in a position to burn an inquiry for a shot at a CLI.

popamode72
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Postby popamode72 » Mon Oct 06, 2014 5:14 pm

If you think the benefits outweigh the costs even with a HP, then go for it. Discover is notorious for being quite stingy with their limits depending on the person.
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)

DeeJay8385
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Postby DeeJay8385 » Tue Oct 07, 2014 2:04 am

Thanks for the replies, I think I'll just wait for them to do an auto CLI. I took advantage of the 5% cash back for gas and now it's over. Hopefully, when they review my acct, they'll grant me an increase
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14



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