Very generous auto CLI

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Nash
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Location: Southeast, US

Very generous auto CLI

Postby Nash » Tue Jul 21, 2015 10:41 pm

My wife has had her discover it card since June 2012 and only uses it for tiny purchases (using it just to have activity). It was her first CC, so we used it to build her credit, it started at a $500 CL, then six months later, auto CLI to $1,000. Well, in two years, the card has had maybe a $40 balance throughout each statement, so it's not like the card is used frequently. On the third "anniversary," Discover gave her an auto CLI of $7,000.

I've always heard how conservative Discover is with CL's. My it card, which I've had since March 2012 still only has a $2,500 CL. I'm not trying to knock my wife's credit, because we have come a long way in boosting it (~780 fico), but from $1,000 to $7,000 is a big jump. Is Discover finally loosening the reigns on their limits? That, and I can't help but be a little jealous :rolleyes: I haven't had an auto CLI in probably two years. Oh well, I'm still just happy for her.
Arsenal:
Discover it [3/12, $2,500]
Amex BCE [5/13, $25,000, bd 9/12]
Chase Freedom [1/13, $5,500]
SunTrust Cash Rewards [4/14, $7,000]
Bank of America Travel Rewards [9/15, $6,000]


takeshi
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Re: Very generous auto CLI

Postby takeshi » Wed Jul 22, 2015 8:14 am

Nash wrote:I've always heard how conservative Discover is with CL's.

People tend to fixate on the creditors but that's just one half of the equation. One's credit and income determine what limit, CLI, etc that one will qualify for. It's certainly possible to obtain larger CL's/CLI's with a "conservative" creditor if one's credit is sufficiently good. Discover doubled my CL to ~10K after 3 months. PenFed granted my a 30K CL right off the bat.

Don't rely solely on people's perception of a given creditor. "Conservative" creditors can give higher limits. "Generous" creditors can give out lower limits. It really all depends on one's credit and income.

Also consider your sources. There are a lot of builders and rebuilders on credit discussion forum sites.

Nash wrote:I'm not trying to knock my wife's credit, because we have come a long way in boosting it (~780 fico), but from $1,000 to $7,000 is a big jump. Is Discover finally loosening the reigns on their limits?

I doubt it but it would take much more than just one data point to determine a trend like that. Your first sentence quoted above is the reason IMO.

morgacj2004
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Re: Very generous auto CLI

Postby morgacj2004 » Wed Jul 22, 2015 6:39 pm

Discover is hard to figure out. My wife and I have almost the exact same bureaus, scores and products. I applied and was given a $500 SL. My wife applied and was given a $4500 SL. So go figure. ?

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ScoreOnTheRise
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Re: Very generous auto CLI

Postby ScoreOnTheRise » Wed Aug 19, 2015 6:22 pm

morgacj2004 wrote:Discover is hard to figure out. My wife and I have almost the exact same bureaus, scores and products. I applied and was given a $500 SL. My wife applied and was given a $4500 SL. So go figure. ?


SL? Starting Limit? Add that to the alphabet soup dictionary.
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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