Discover Card Credit Limit Increase

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
28 posts
kelvSYC
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Location: San Bruno

Postby kelvSYC » Wed Aug 07, 2013 2:03 am

True. If trends show that CLIs do not indicate an increase in use, they might feel burned by allowing me to borrow more when I need it. Considering that the two times I've asked for a CLI have arguably resulted in me using the affected cards less (my RBC card because I moved from Canada to the US, my BCE because I have found myself grocery shopping less due to laziness), Discover might just pick up on that (well, at least the BCE usage, if they collect usage statistics at all).

Still, I'd think that they would have fleshed-out assessment models they have on whether or not a customer would switch their primary card to one of their own cards due to factors like lower rates, higher limits, better rewards, biting on periodic balance transfer offers, signing up for their savings account, etc.

No biggie, though. I'm in it for the winter quarter bonus. Burn through $1500 of shopping in a month, and maybe collect a few 1% rewards on the side when I vacation to a place outside the US where Discover is widely accepted, and that's about it. (Hey, I'm still recovering from three hard pulls; high utilization on one card for one month can't hurt the scores as long as I can back it up with the cash at the end of the day...)
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


MemberSince99
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Location: WI

Postby MemberSince99 » Wed Aug 07, 2013 6:38 am

Not sure how they would feel "burned" by you not charging more on the card as a result of a CLI. If you DO make full use of your limit, they don't like THAT either and your score suffers and most likely they will slash your limit as you pay it off. (That assumes you let the balance hit then pay).

I just feel I was a bit foolish to go for Discover as I'm not their target demographic and I got a limit that bears that out. But if I never use it which I may not, no harm done I guess. I'm not even using it for the 5% categories I go to my other cards, so if I don't even use it for the max rewards categories, when would I use it....hard to imagine I would.

JeffM
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Postby JeffM » Wed Aug 21, 2013 3:05 pm

MemberSince99 wrote:Not sure how they would feel "burned" by you not charging more on the card as a result of a CLI. If you DO make full use of your limit, they don't like THAT either and your score suffers and most likely they will slash your limit as you pay it off. (That assumes you let the balance hit then pay).

I just feel I was a bit foolish to go for Discover as I'm not their target demographic and I got a limit that bears that out. But if I never use it which I may not, no harm done I guess. I'm not even using it for the 5% categories I go to my other cards, so if I don't even use it for the max rewards categories, when would I use it....hard to imagine I would.


Not to go off topic, but what is the Discover target demographic?

Robrus1
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Postby Robrus1 » Fri Aug 23, 2013 8:33 am

I don't think they even know. Perhaps people who spend little, carry small balances, and pay on time? I ran 2-3K through my Discover in the first 6 months I had it, and really only used it for a 5% category. I got two auto CLIs and combined they came out to a $750 increase. I spent a bit more than that on my CSP in the first 6 months I had it, and after 6 months they gave me an auto CLI of 3K. That's a good example of just how conservative Discover is.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Kripler68
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Location: Arizona

Postby Kripler68 » Fri Aug 23, 2013 3:07 pm

I had a 2500 credit limit on Discover and just recently shot up to 6,000.Yet my Amex denied me the 61 day CLI.
Who knows how they make the distinction between who gets what.

flan
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Location: chicago

Postby flan » Fri Aug 23, 2013 5:23 pm

Robrus1 wrote:I don't think they even know. .


'people they think will make them money'. They just aren't telling us what that customer is. They're doing pretty well at it, though.

Robrus1
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Location: Texas

Postby Robrus1 » Mon Aug 26, 2013 9:19 am

flan wrote:'people they think will make them money'. They just aren't telling us what that customer is. They're doing pretty well at it, though.


Agreed. I was being a bit sarcastic.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Scoobynoodles
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Location: NYC

Postby Scoobynoodles » Mon Aug 26, 2013 9:58 am

After having my Discover More Card for about 3-4 years or so, I received gradual CLIs over time totaling $3750. Once I began reading up and expanding my knowledge on credit and opening up more credit lines, I decided to call Discover on upping my limit. I spoke with a credit analyst and she asked how much and why. I told her I wanted double my current limit to $7.5K and basically reasoned that I have a great stable job, ALWAYS paid ON TIME, considered doing some balance transfers and wanted greater flexibility with regards to my credit utilization. She agreed and actually enjoyed hearing my speak on it, as if an educated credit consumer is much more preferred, as opposed to someone just arbitrarily asking for more but not given solid reasons, only to go in the red. Remember, when we ask for more credit, the creditor is on the hook (usually) if the person doesn't pay up. So they have to assess our risk to them. I think she was satisfied hearing my reasoning. I'm also surprised that she let me double because I know how stingy they are.

I also just opened the It card with a $3K back around June/July and just got a $500 increase last week. When I first opened the card I asked for a higher limit but said within 6 months call back to request it. Thing is I hope I can get it without another hard pull, as that'll defeat the purpose for me anyway. But may have to if I want it.
AmEx Platinum 2009 & Blue Cash $3.5K Delta Gold $2K
BofA BankAmericard $6K | Chase[/i] Sapphire Preferred $10K & Amazon $1.5K Freedom $2.2K | CACU Platinum $13K
Discover Cashback $8.5K & It $6K | Citi Simplicity $5.6K & TY $4.3K



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