Credit limits on Discover vs. other issuers

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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danpass
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Postby danpass » Tue May 15, 2012 3:49 pm

MShawCT wrote:......................

I read somewhere that they were more likely to give you an increase if your thinking about a balance trans. I don’t know if that’s true, but it seems to have worked for me. There is also nothing that requires me to now make a balance transfer.


You just cost me a hard pull.

I knew it would (and it tells you) and it's ok, it worked out :D

I had seen the Request Increase button last week. But now after reading you're post I went all the way thru with the process this time to take it from 1800 to 3000 with the reason as Balance Transfer.

It worked!

lol

Now there is a 0% for 6mos offer on the website.

I was giving it 50/50 odds at best that the system would accept a 67% increase. I don't actually have a BT to do hahaha


ModdedMach
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Postby ModdedMach » Thu May 17, 2012 3:32 pm

Try this one. Im 22, ive paid off 2 cars, i have a loan on 1 car now and i own a house. When i was 18 i got a small student loan (around 5k) and it was deffered for a couple years and ive been paying on it here and there for a while now, ive never been late on a mortgage payment, all my student loans show fine, no lates (even tho technically there have been a couple, but student loans dont really report bads unless you default)

So my credit is pretty decent for a 22 year old, i paid 72k for my house and 14.2k for my 2003 mach 1 mustang @ around 8%, which for a ten year old car, isnt bad.

So a week ago i get a preapproval letter from discover for the more card, i had already been thinking about getting a credit card to build creidt, so when i got a preapproval from discover i looked into different cards, then decided to apply for an Amex BCP, as it would reward me the most for my purchases. Amex denied me :( , so i decided to take discover up on their offer, applied, they called me and spoke with me and i was approved. The discover associate told me the ONLY thing on my credit report that is questionable was ONE 30day late payment on a car, i explained to the discover guy that it was because I totalled the car and it took like 4 months for the insurance company to pay it off because of title complications and i didnt really want to make a payment on a car that was totalled, lol. He was like ok, you are approved hows 6500 sound? I was like, thats plenty. So discover gives me my first credit card EVER with a starting CL of 6.5k

I say all that to say this...i got a letter from Amex yesterday that said i wasnt approved because my fico was 583, 583! WHAT, i was under the impression that my score was in the low 700s, now idk if thats experian that i was thinking about but my credit history is pretty much flawless besides being a short history at a young age, Amex tells me to blow smoke and Discovers gives me a bigger limit than most people i hear about with the discover more card...Whats up with that? Is Amex really that tough?

Im going to try to use around 500 a month and PIF on the Discover, thats a credit utilization of around 8% PIF every month my credit score should shoot up quick.

MemberSince99
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Postby MemberSince99 » Tue May 22, 2012 1:22 pm

ModdedMach wrote:Try this one. Im 22, ive paid off 2 cars, i have a loan on 1 car now and i own a house. When i was 18 i got a small student loan (around 5k) and it was deffered for a couple years and ive been paying on it here and there for a while now, ive never been late on a mortgage payment, all my student loans show fine, no lates (even tho technically there have been a couple, but student loans dont really report bads unless you default)

So my credit is pretty decent for a 22 year old, i paid 72k for my house and 14.2k for my 2003 mach 1 mustang @ around 8%, which for a ten year old car, isnt bad.

So a week ago i get a preapproval letter from discover for the more card, i had already been thinking about getting a credit card to build creidt, so when i got a preapproval from discover i looked into different cards, then decided to apply for an Amex BCP, as it would reward me the most for my purchases. Amex denied me :( , so i decided to take discover up on their offer, applied, they called me and spoke with me and i was approved. The discover associate told me the ONLY thing on my credit report that is questionable was ONE 30day late payment on a car, i explained to the discover guy that it was because I totalled the car and it took like 4 months for the insurance company to pay it off because of title complications and i didnt really want to make a payment on a car that was totalled, lol. He was like ok, you are approved hows 6500 sound? I was like, thats plenty. So discover gives me my first credit card EVER with a starting CL of 6.5k

I say all that to say this...i got a letter from Amex yesterday that said i wasnt approved because my fico was 583, 583! WHAT, i was under the impression that my score was in the low 700s, now idk if thats experian that i was thinking about but my credit history is pretty much flawless besides being a short history at a young age, Amex tells me to blow smoke and Discovers gives me a bigger limit than most people i hear about with the discover more card...Whats up with that? Is Amex really that tough?

Im going to try to use around 500 a month and PIF on the Discover, thats a credit utilization of around 8% PIF every month my credit score should shoot up quick.


CCs are funny. They all have their own way of determining how to give what to who, and if you really think about it, there are a lot of variables so it's not as cut and dried as we might hope.

What I've seen is they either like you, or they don't. I've read numerous posts from people who can get credit with ease from company A, but company B won't touch them. My own experience is in the last 6 months, the only company that has declined me for credit is Citi. They simply do not like me I have come to the conclusion. I've applied with them 3 times in the last year and a half, and it was denied every time for pretty minor reasons. The first was I did not carry a balance on a revolving account, the second was inquiries, and the last time (last month) and last time ever as far as I'm concerned was because I had new accounts. I was like yeah, and? I mean if they told you derogs or something I could see it, but it seems like if they don't like you, they will find a reason to deny you, and if they do like you they will find a way to approve you. On the other hand I've been golden lately with Amex with 3 new cards in under a month with them.

So YMMV and it seems they either like you or they don't.

Ratfacedudeguy
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Postby Ratfacedudeguy » Wed May 30, 2012 8:42 pm

I seem to have the opposite experience from a lot of people here when it comes to Discover and credit limits. They've consistently been providing me with my highest limits of any other issuer from day 1. Customer service has always been outstanding for me as well. So even though my credit limits aren't anything to really shake a stick at, I've been a very pleased customer since 2009.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

Bobzig
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Postby Bobzig » Thu May 31, 2012 10:40 pm

randeman wrote:Discover actually asked me if I was "okay" with the credit limit that they offered when I was approved. That may have been something they do for everyone that talks to them when they apply, but since the limit was three times higher than any other card I had at the time, I was "okay" with it. :cool:


they told me the same thing! i was surprised haha
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MemberSince99
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Postby MemberSince99 » Fri Jun 01, 2012 8:36 am

Bobzig wrote:they told me the same thing! i was surprised haha


The CSR who I spoke with when verifying my info also asked if I was "okay" with the starting limit they offered. I was, but if I wasn't, I don't think they would have increased it. But I honestly thought it was good so I was cool with it. I do think they ask everyone that though.

JMK
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Postby JMK » Fri Jun 01, 2012 12:13 pm

Discover started me with a $2500 limit and also asked if that was fine with me when called in to activate the card. They have recently bumped me up to $5500, as I have been using it as my go to CC. Have nothing negative to say about them and I think their cash back rewards are great!
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randeman
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Postby randeman » Sat Jun 16, 2012 9:03 am

Three months after being approved for the card they increased my credit limit, without request, by $500.00. I guess I must be doing something right. I have never heard of an increase, regardless of how small, three months after opening the account.
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Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

MemberSince99
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Postby MemberSince99 » Tue Jun 19, 2012 5:59 am

randeman wrote:Three months after being approved for the card they increased my credit limit, without request, by $500.00. I guess I must be doing something right. I have never heard of an increase, regardless of how small, three months after opening the account.


I haven't either. I talked with one of their CSRs yesterday, in regards to this, he stated their "policy" is they do not give CLIs before 6 months. I knew it may be their "policy" but it could be done, but that they weren't going to do anything. So as always YMMV.

mlint007
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Postby mlint007 » Fri Jun 22, 2012 7:05 pm

I opened up a discover more card recently and I was approved for $8,000. So I have no problem with their limits.



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