Just got an automatic CLI after 3 months

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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Just got an automatic CLI after 3 months

Postby ScoreOnTheRise » Fri Nov 07, 2014 10:49 pm

I'm still in a credit repair phase and I posted three months ago about getting approved for a Discover it card with a $10K CLI (my first really significant CLI). http://creditcardforum.com/discover-diners-club/10441-approved-discover-card.html

After only three months with this card, I'm happy to say I just got an email from Discover informing me that they raised my CL by $2K.

I've learned tons from this forum and have really been inspired to take get serious about my personal finances.

A big "thank you" to everyone here for providing so much great info.

I'm quickly on my way.
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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lobbythis
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Postby lobbythis » Sat Nov 08, 2014 12:10 am

A $12K card and you're in "credit repair phase"? And, Discover on top of that. What they hell did you do to make them love you?

That thing trounces the rest of your profile. I can't even get accepted by those arseholes and it's to the point I've given up on them.

Nixon
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Postby Nixon » Sat Nov 08, 2014 12:12 am

lobbythis wrote:A $12K card and you're in "credit repair phase"? And, Discover on top of that. What they hell did you do to make them love you?

That thing trounces the rest of your profile. I can't even get accepted by those arseholes and it's to the point I've given up on them.


High EQ, Low EX/TU is probably the case here. Or the OP has a very high income.
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PlyrStar93
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Postby PlyrStar93 » Sat Nov 08, 2014 12:26 am

lobbythis wrote:A $12K card and you're in "credit repair phase"? And, Discover on top of that. What they hell did you do to make them love you?

That thing trounces the rest of your profile. I can't even get accepted by those arseholes and it's to the point I've given up on them.

Have seen several cases Discover giving large limits to people with FICOs like 650'ish or 670'ish or something like that, while people with 700+ scores may not have that luck. That's also what some others here cursed Discover about.

This trend does cause some speculations about their underwriting criteria, like Discover would think someone with just a little bit higher risk may use credit a lot while not paying in full, so Discover can get a lot of interest unlike low risk PIF-er's who make Discover harder to earn profit.

Nixon wrote:High EQ, Low EX/TU is probably the case here. Or the OP has a very high income.

I am for the possibility of an acceptable but not so high FICO plus high income. There are exceptions as someone with high FICO still gets big limits indeed.
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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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Nov 08, 2014 1:24 am

Congrats!

Your CLI = My CL

PlyrStar93 is right that Discover likes people to carry balances and pay lots of interest.

In a way, I'm starting to like Discover's twisted criteria. $2k suits me most months, and as long as they're making interest income from other people, that's a strong incentive for them to keep their great service and not cut the rewards.

Compare that to Cash+. Those cardholders tend to have pretty good credit (and often several other prime cards). Their customers largely pay in full while getting 5% on a lot of spending. That super-prime, high-rewards card has been continually nerfed.

Related discussion: http://creditcardforum.com/visa-mastercard/10849-us-bank-downgrading-restaurants-cash-2-a.html
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Cre
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Postby Cre » Sat Nov 08, 2014 11:15 am

Nixon wrote:High EQ, Low EX/TU is probably the case here.


Does this mean that it is possible to have a high Equifax credit rating, and a low Experian and TransUnion rating?

Is one credit bureau considered to be "superior" or more relied upon, or more "thorough", than the other two?
Current Cards:
AmEx Platinum Charge: NPSL, $450 AF
AmEx Reserve Credit: $30K limit, $450 AF
Chase Slate Visa Credit: $32K limit, No AF
Future Strategy:
Near Term: Need a good MasterCard for places that won't accept AmEx or Visa
Long Term: Will downsize out of one or both current AmEx cards to reduce AFs

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PlyrStar93
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Postby PlyrStar93 » Sat Nov 08, 2014 12:02 pm

Cre wrote:Does this mean that it is possible to have a high Equifax credit rating, and a low Experian and TransUnion rating?

It is possible to have a (maybe dramatically) higher credit score on any bureau while having lower scores on other bureaus.

This is usually caused by inconsistencies in data between different bureaus. If you have a negative item on one bureau report while don't have negatives on the other, that's usually why the two scores can make significant difference.

As of credit repairing, one may have begun cleaning up stuff on reports. Sometimes there are bureau(s) who agree to delete certain negatives while other bureau(s) don't.

Cre wrote:Is one credit bureau considered to be "superior" or more relied upon, or more "thorough", than the other two?

No.
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.

popamode72
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Postby popamode72 » Sat Nov 08, 2014 12:55 pm

Wow. You're so lucky. I've had mine for like 7 months and no increase yet. Every time I've requested one I've gotten denied because of the length of time the account has been open.
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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PlyrStar93
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Postby PlyrStar93 » Sat Nov 08, 2014 1:00 pm

popamode72 wrote:I've had mine for like 7 months and no increase yet. Every time I've requested one I've gotten denied because of the length of time the account has been open.

That's odd. The credit department person told me I only have to wait until the account is 6 months old. Like I have said I will have to see how it goes with me when the time comes.

I guess the sockdrawer is probably welcoming my Discover if it's your case.
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.

popamode72
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Postby popamode72 » Sat Nov 08, 2014 1:08 pm

PlyrStar93 wrote:That's odd. The credit department person told me I only have to wait until the account is 6 months old. Like I have said I will have to see how it goes with me when the time comes.

I guess the sockdrawer is probably welcoming my Discover if it's your case.


I've also put a ton of my spending on the card. Oh well. I guess they wanna be as conservative as they can. My CapOne card has grown faster BTW and has at least been matched to one of my higher existing CLs. That's all I want from Discover.

Just tried again online for a CLI and still nothing unfortunately. I might as well SD it and not use it anymore.
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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