Discover Card Credit Limit Increase

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
MemberSince99
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Postby MemberSince99 » Wed Jul 17, 2013 11:13 am

How much use does your IT get?


Sevenfeet
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Postby Sevenfeet » Wed Jul 17, 2013 12:39 pm

Discover gave me a paltry $250 CLI after 3 months with the card. I can ask for a bigger CLI in August at my 6 months point, especially since I'm about the pull the trigger on a $2000 computer purchase. We'll see...
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

cdogg
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Postby cdogg » Wed Jul 17, 2013 12:40 pm

Mully85 wrote:I was just on Discover's website and asked for a credit limit increase, in just a few seconds they approved my request, but it was a couple of hundred dollars less than what I had asked for.

My main question is how long should I wait to ask Discover for another credit line increase, the standard 6 months? My credit scores are all above 700. Thanks!


Thanks to you guys' reminder on this post. I just realized that it's been 6 months since last CL. i just did second ago to request CL from 9500 to 13000 with 3500 cl . Approved right away. I am little surprised since I really don't use this card much. I thought about asking little more like $5000, but then if I don't use that much, why need it. and by reading all these posts, $13000 with DC is not bad here i guess. I had it since 2010, requested cl twice

"Congratulations! You've been approved for a credit line increase of $3,500.You requested a credit line increase of $3,500. Unfortunately, we were unable to approve the full amount. This increase of $3,500 brings your new available credit line $13,000, and your new cash line $4,000 .

You have the option to accept the $3,500 increase now, or request a higher amount. If you choose to request the higher amount, a credit bureau report will be requested and an inquiry will be placed into your bureau file, which could affect your credit score.

What would you like to do?
What would you like to do? A selection is required.
Accept the $3,500 credit line increase.
Current Cards: American Express:Blue Cash Everyday CL 33.6k member since 94
Bank Americard Power Cash Rewards Signature Visa CL 20k member since 10
Discover IT $9.5k member since 10
Chase freedom $10k, since 13
BB Store card $2600, since 02
Macys $2700, since 02
Gap/BR $800, since 02

MemberSince99
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Postby MemberSince99 » Wed Jul 17, 2013 1:16 pm

That's an awesome limit from any lender. With Discover it's especially impressive.

ncosky290
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Postby ncosky290 » Wed Jul 24, 2013 10:42 am

MemberSince99 wrote:That's an awesome limit from any lender. With Discover it's especially impressive.


I agree... My iT card is only 2k limit and my Walmart Discover is 3.5k limit. I am waiting until August to request my CLI with discover iT as it is my 6 month moment...
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-

Kripler68
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Postby Kripler68 » Wed Jul 24, 2013 10:48 pm

Discover has been the most stringent card for auto CLI for me personally. I hope they will loosen up in the future. Card is put away for now.

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jumbo
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Postby jumbo » Wed Jul 24, 2013 11:47 pm

I haven't had auto CLI with discover in around 14 months now... Before that I was getting auto CLI every 3 months for $250 each time, until I hit he 2K limit. And no CLI since last year.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card

kelvSYC
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Postby kelvSYC » Wed Jul 31, 2013 11:59 pm

I'm interested in what Discover will do when I hit my 6-month mark in September. They care enough to give me a $5 gift card at random, but offset it with categories that I could care less about. It isn't my main or secondary card, so does it incentivize them towards larger increases? (Assuming they know balance histories and such from a pull...)
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)

Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD

Userofcards
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Postby Userofcards » Thu Aug 01, 2013 12:01 pm

kelvSYC wrote:I'm interested in what Discover will do when I hit my 6-month mark in September. They care enough to give me a $5 gift card at random, but offset it with categories that I could care less about. It isn't my main or secondary card, so does it incentivize them towards larger increases? (Assuming they know balance histories and such from a pull...)


I think its a great question, but I don't know. It could be that lack of use would incentivize the issuer to give a better limit in hopes of more use. Presumably each issuer has data on whether individuals who rarely use their card will actually use their card more (and pay the bill) after a Credit Limit increase or not. If the bigger line inspired more use, then perhaps that would incentivize them. But if the bigger line doesn't really inspire more use, it might de-incentivize them to issue the increase: after all, that's credit the issuer could extend to another customer.

MemberSince99
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Postby MemberSince99 » Thu Aug 01, 2013 12:27 pm

That's one side of the coin, and there is validity in your argument.

It's also a valid argument that if you have other cards with 5 or 10 or more times the limit of your new Discover, why would you pull out the Discover and give them swipes vs keeping in good standing with lenders who saw fit to give you a grown up limit? Especially when Discover limits your payments to once every 3 days unlike a lot of lenders who let you pay at will.

I would just say that I have yet to pull out my Discover and use it, and have little incentive to, even with the 5% gas I pull my BCP because my expectation is that over time it will grow, unlike Discover where I KNOW beyond doubt it will never grow. If past experience showed me it could grow with time i'd give them swipes but I know better so I'm just not worried about taking care of them.

Honest truth.



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