Discover and limits

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
36 posts
plc44
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Location: Houston, TX

Postby plc44 » Wed Jan 02, 2013 10:53 am

I'm not sure what I'm going to do...

It was about late October when I realized I should put everything on my credit card (where I earn rewards when spending money) rather than continue to use my debit card. Since October/November I've been utilizing the Credit Card a lot more.

I had been paying down my balance to about $100 the day before my statement date and then paying off the rest on the payment due date. I try to keep as much cash on hand as possible for as long as possible. Really my goal is to be able to have a high enough credit limit where I won't have to pay down the balance because I maxed out my credit card before the statement date, and can hold my cash until the payment due date.

My current plan is to use my AmEx for everything that is not on the 5% or 2% bonus categories. Since I have the 2% offer on the first $250 I spend between the 1st and the 15th, as well as the 5% bonus being restaurants and movies it will get used a lot in January. Being a 23 year old single male, I go out to eat often.

Thanks for all the advice guys, I'll keep y'all informed. Please let me know if y'all have any other thoughts.
Discover More - $1000 (07/12)
Chase Freedom - $1000 (02/13)
American Express SPG - $2000 (08/13)
American Express Green Card - NPSL (12/12)


FutureBillionaire
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Location: Down South

Postby FutureBillionaire » Wed Jan 02, 2013 12:21 pm

I use my Discover heavily during quarters that have bonus categories I need. I started out with a 2k limit. I did a hard pull to get 3k. I randomly logged into my account one day and had a 6500k limit. They are slower and stingier, but they will grow with you.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

plc44
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Joined: Tue Oct 09, 2012 10:31 am
Location: Houston, TX

Postby plc44 » Wed Jan 02, 2013 10:52 pm

I think I'm gonna hold off and wait for the Auto CLI, I'll use it a lot over the next 3 months, after that if I still haven't had a CLI, I'll probably call them. I'll let you guys now.

Also, this forum is awesome, I've learned a bunch.
Discover More - $1000 (07/12)
Chase Freedom - $1000 (02/13)
American Express SPG - $2000 (08/13)
American Express Green Card - NPSL (12/12)

itsmeandrew
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Location: Utah

Postby itsmeandrew » Mon Jan 07, 2013 7:41 pm

I got my More in July. I started off with a $2,000 CL. After 3 months of good use, I got a *great* $250 CLI. After another 3 months of using near my CL, PIF, repeat, I got another CLI! This one for $250 too.
Capital One Platinum $500 (2/2010) CLOSED (1/2013)
Wells Fargo College Cash Back $1.2K (8/2011) CLOSED 3/2015
Chase Freedom (Signature) $10K (4/2012)
AmEx Zync NPSL (4/2012)
Samuels Financing $2.9K CLOSED 4/2015
Discover IT $3.95K (7/2012)
Chase Marriott Premier (Signature) $5K (9/2012)
Chase Slate $2.5K (12/2012)
Citi Simplicity $4K (3/2013)
AmEX BCE $9.5K (5/2014)
Chase Amazon $4.5K (5/2014)
Barclaycard Apple Financing $2K (6/2014)
Capital One VentureOne (Signature) $5K (1/2015)


TU (Discover): 760

trumpet-205
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Joined: Sat Oct 23, 2010 1:51 pm
Location: CA, USA

Postby trumpet-205 » Mon Jan 07, 2013 10:08 pm

I just got my second auto CLI, another $250.

$2,000 to $2,250 to $2,500.
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

plc44
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Joined: Tue Oct 09, 2012 10:31 am
Location: Houston, TX

Postby plc44 » Tue Jan 08, 2013 7:19 pm

I called discover today to let them know about my travel plans.

And went ahead and asked for a CLI, was told it would require a hard pull, so I decided to just put it off. No request yet.
Discover More - $1000 (07/12)
Chase Freedom - $1000 (02/13)
American Express SPG - $2000 (08/13)
American Express Green Card - NPSL (12/12)

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Calipso
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Location: Boston

Postby Calipso » Tue Jan 08, 2013 8:11 pm

Just got my auto-CLI from $5,500 to $7,200.

Such an odd increase. $1,700? Why not just make it $1,500 to give me an even $7,000?

Definitely automated or issued by some formula.
My Limits:
NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
Discover IT: $7,700
Barclay's NFL Extra Points (Carolina Panthers): $5,000
DCU Platinum: $3,000
RTN FCU CC: $2,000
CCCU Platinum Rewards Visa: $2,000

Current total limit: $129,500

MemberSince99
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Location: WI

Postby MemberSince99 » Wed Jan 09, 2013 6:44 pm

From what I read on the FICO forum, sometimes after doing this, they give you an automatic CLI within a few weeks. Obviously YMMV but I've read more than one account of that happening.

Freedomtodiscover
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Location: CA

Postby Freedomtodiscover » Wed Jan 09, 2013 9:44 pm

MemberSince99 wrote:From what I read on the FICO forum, sometimes after doing this, they give you an automatic CLI within a few weeks. Obviously YMMV but I've read more than one account of that happening.


Hope so! Tried to get some luv on the website and they couldent give me anything without a hard pull.
[size=80]
HSBC Premier - $32K
Amex BCE - $10.5K
Amex ZYNC - NPSL
Chase Freedom - $5K
Discover IT - $3K
EX Fico- 780[/size]

MemberSince99
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Location: WI

Postby MemberSince99 » Thu Jan 10, 2013 8:07 am

I still view them as being kind of Scrroge-like. Some people get a high limit but I would take a wild guess based on the CLs I see in people's signatures that the vast majority of Discover limits are below 5k.

I was going to use mine heavily to try to get the score up there, but now I'll just put a small recurring on it (probably Netflix) and just pay that using Discover and whatever they give me for CLIs will be all auto, if anything. I'd rather give the business to companies that have given me some real "luv". Not that Discover is bad they are wonderful to call and talk with - their CSRs are top notch. But the limits, in my view, leave something to be desired.



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