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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jumbo
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Postby jumbo » Sat Jun 23, 2012 10:48 am

I applied for Discover more card in October 2010, with no prior credit history, and was approved for $500 limit.
Since then in around every 3 months interval, they have been increasing my CL with $250 every time.
So now my Discover more CL is $2000, and I am pretty happy. I use Discover almost everywhere I go.
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Re: Credit limits on Discover vs. other issuers

Postby LACreditGuy » Fri Jul 03, 2015 9:14 am

If you're looking for a large credit limit, stay away from this card. With an impeccable credit rating and high income, I was only able to get a $14,000 limit. That may sound like a lot, but I'm used to a six-figure limit on MasterCard, so the $14,000 was an insult. No offense, but this is a card for people with modest incomes and correspondingly modest credit needs. If you're used to charging tens of thousands of dollars a month, this card is not the one. And their customer service people? No matter how high up you go in the department to beg for a higher limit, they simply string together long sentences, bloated by jargon, that translate to "no."

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Re: Credit limits on Discover vs. other issuers

Postby MemberSince99 » Sat Jul 04, 2015 5:18 pm

LACreditGuy wrote:If you're looking for a large credit limit, stay away from this card. With an impeccable credit rating and high income, I was only able to get a $14,000 limit. That may sound like a lot, but I'm used to a six-figure limit on MasterCard, so the $14,000 was an insult. No offense, but this is a card for people with modest incomes and correspondingly modest credit needs. If you're used to charging tens of thousands of dollars a month, this card is not the one. And their customer service people? No matter how high up you go in the department to beg for a higher limit, they simply string together long sentences, bloated by jargon, that translate to "no."


Well that brought a 3 year old thread back to life.

Anyway, I'm not sure why you wouldn't just get an Amex Centurion and be done with it? What's the point of you even having a Discover? I do have to agree they do not market this card to people like you - that's what Centurion and Palladium are for.

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Re: Credit limits on Discover vs. other issuers

Postby lobbythis » Sat Jul 04, 2015 6:11 pm

Well, Centurion and Discover's Premium Plus are invite only. Palladium needs $250K or more in the bank with Chase, but can at least be applied for in a branch. There's other primo cards floating around out there and I'm sure LACreditGuy knows a few if he already has cards with six figure limits, but yea, Discover plays it safe unfortunately. Definitely read around before applying for others and wasting time. I gave up on them as soon as I found out the game they play too. Discover is a joke for anyone spending lots of money.

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Re: Credit limits on Discover vs. other issuers

Postby MemberSince99 » Wed Jul 08, 2015 6:18 am

Despite their double rewards, my Discover isn't going to get much use. I don't know why I bothered signing up for the double rewards promotion, frankly. I'd be cool if they just revoked it, if they are really looking to save money.

Until they loosen up and give people with decent credit grown up limits, this isn't going to be my full time card. And in fact if they want to play the "conservative" card, at some point, I'm just going to move on. Go ahead and hand out big starting limits to people with crap credit while telling people with high scores that you are "conservative" - I need fewer cards anyway.

I'm just not their target demographic obviously.

And I'm sure someone is reading this bemoaning my "entitlement" mentality - the fact all my other cards are 10k+ shows it's not entitlement it's being competitive, which they really are not for a LOT of people in terms of limit. We aren't debating whether I should get anything out of all the money the government stole from me for "social security" here we are talking a private business competing for customers and these guys just don't hack it.

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Re: Credit limits on Discover vs. other issuers

Postby yfan » Wed Jul 08, 2015 10:55 am

LACreditGuy wrote:If you're looking for a large credit limit, stay away from this card. With an impeccable credit rating and high income, I was only able to get a $14,000 limit. That may sound like a lot, but I'm used to a six-figure limit on MasterCard, so the $14,000 was an insult. No offense, but this is a card for people with modest incomes and correspondingly modest credit needs. If you're used to charging tens of thousands of dollars a month, this card is not the one. And their customer service people? No matter how high up you go in the department to beg for a higher limit, they simply string together long sentences, bloated by jargon, that translate to "no."

Yes, for most people, $14,000 is a pretty big limit. And frankly, despite saying "no offense", your condescension for those of us with "modest income" is pretty obvious, and I don't care for it.

So what Mastercard gave you a six-figure limit and what exactly is the limit? Care to enlighten us?

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Re: Credit limits on Discover vs. other issuers

Postby MemberSince99 » Wed Jul 08, 2015 12:09 pm

yfan wrote:
LACreditGuy wrote:If you're looking for a large credit limit, stay away from this card. With an impeccable credit rating and high income, I was only able to get a $14,000 limit. That may sound like a lot, but I'm used to a six-figure limit on MasterCard, so the $14,000 was an insult. No offense, but this is a card for people with modest incomes and correspondingly modest credit needs. If you're used to charging tens of thousands of dollars a month, this card is not the one. And their customer service people? No matter how high up you go in the department to beg for a higher limit, they simply string together long sentences, bloated by jargon, that translate to "no."

Yes, for most people, $14,000 is a pretty big limit. And frankly, despite saying "no offense", your condescension for those of us with "modest income" is pretty obvious, and I don't care for it.

So what Mastercard gave you a six-figure limit and what exactly is the limit? Care to enlighten us?



Hey I resemble that remark. I have all the respect in the world for people with "modest" incomes. They clearly are not as intelligent, driven and ambitious as I am, that's a given, but they pay a higher percentage of their income than I do, which is only fair and just, and hopefully the new Congress can eliminate taxes for we rugged individualists and put them squarely on the backs of the unwashed masses of the working class where they belong.

So I have all the respect in the world for you - please work 2 or 3 jobs, and keep paying those taxes, I need the tax relief and I desreve it for my patriotic creation of jobs.

Just kidding!!!!!

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lobbythis
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Re: Credit limits on Discover vs. other issuers

Postby lobbythis » Wed Jul 08, 2015 12:28 pm

yfan wrote:
LACreditGuy wrote:If you're looking for a large credit limit, stay away from this card. With an impeccable credit rating and high income, I was only able to get a $14,000 limit. That may sound like a lot, but I'm used to a six-figure limit on MasterCard, so the $14,000 was an insult. No offense, but this is a card for people with modest incomes and correspondingly modest credit needs. If you're used to charging tens of thousands of dollars a month, this card is not the one. And their customer service people? No matter how high up you go in the department to beg for a higher limit, they simply string together long sentences, bloated by jargon, that translate to "no."

Yes, for most people, $14,000 is a pretty big limit. And frankly, despite saying "no offense", your condescension for those of us with "modest income" is pretty obvious, and I don't care for it.

So what Mastercard gave you a six-figure limit and what exactly is the limit? Care to enlighten us?



Regardless of his post offending you or not, what he said is true. Perhaps he should have done more research when specifically looking for lenders who frequently offer higher limits, but his point and frustration is totally understandable. I or anyone else with a business, even a "small business", could never and should never look to Discover for a big spending credit card. It's just the way Discover is. They play it safe and avoid as much risk as possible compared to almost every other major lender. People are constantly posting on many forums the drastically low limits they receive from Discover compared to all the other cards in their profile. That is just undeniable fact.

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Re: Credit limits on Discover vs. other issuers

Postby yfan » Wed Jul 08, 2015 12:58 pm

lobbythis wrote:Regardless of his post offending you or not, what he said is true. Perhaps he should have done more research when specifically looking for lenders who frequently offer higher limits, but his point and frustration is totally understandable.


No, it isn't. First, I might point out that LACreditGuy, in so many words, associated modest incomes with modest credit scores - which is far from true. Lots of people with modest incomes have great credit scores because they manage their money well. So what he intimated there is patently false.

Second, there is no frustration here, just a way to brag about being rich. $14,000 is a pretty good limit, and better than most other Discover stories I have heard. I doubt someone with LACreditGuy's claimed level of wealth is running around after a measly $75 in rewards a quarter (5% of the $1500 spend cap on the bonus categories), and as a flat rewards card, Discover isn't exactly the greatest. A $14K limit is quite good for the purposes for which Discover exists; that it doesn't meet whatever LCG's demands are is not a good reason to be "frustrated" when all the information about Discover and its target market is out there.

I or anyone else with a business, even a "small business", could never and should never look to Discover for a big spending credit card.


Except that Discover is not a business card, and LCG never indicated that he was using it for business. Rather to the contrary, by asserting that it's a card for people with modest income (and incorrectly associated modest scores), he seemed to imply personal use. And I'm still waiting for him to tell us which Mastercard provides a six-figure limit on a personal account and exactly what his limit is.
Last edited by yfan on Wed Jul 08, 2015 1:01 pm, edited 1 time in total.

yfan
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Re: Credit limits on Discover vs. other issuers

Postby yfan » Wed Jul 08, 2015 1:00 pm

MemberSince99 wrote:
yfan wrote:
LACreditGuy wrote:If you're looking for a large credit limit, stay away from this card. With an impeccable credit rating and high income, I was only able to get a $14,000 limit. That may sound like a lot, but I'm used to a six-figure limit on MasterCard, so the $14,000 was an insult. No offense, but this is a card for people with modest incomes and correspondingly modest credit needs. If you're used to charging tens of thousands of dollars a month, this card is not the one. And their customer service people? No matter how high up you go in the department to beg for a higher limit, they simply string together long sentences, bloated by jargon, that translate to "no."

Yes, for most people, $14,000 is a pretty big limit. And frankly, despite saying "no offense", your condescension for those of us with "modest income" is pretty obvious, and I don't care for it.

So what Mastercard gave you a six-figure limit and what exactly is the limit? Care to enlighten us?



Hey I resemble that remark. I have all the respect in the world for people with "modest" incomes. They clearly are not as intelligent, driven and ambitious as I am, that's a given, but they pay a higher percentage of their income than I do, which is only fair and just, and hopefully the new Congress can eliminate taxes for we rugged individualists and put them squarely on the backs of the unwashed masses of the working class where they belong.

So I have all the respect in the world for you - please work 2 or 3 jobs, and keep paying those taxes, I need the tax relief and I desreve it for my patriotic creation of jobs.

Just kidding!!!!!

You have the best snark. I love it! :D



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