How to get Discover credit limit increase requests approved

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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432521
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How to get Discover credit limit increase requests approved

Postby 432521 » Sun May 05, 2013 1:16 pm

So i was just reading a thread over at myfico and someone said that a Discover rep told them that they don't care about usage. If you pay it off before your statement closes and if you want auto credit limit increases from them, they want to see situations where you have balances on statements; does not mean you have to pay interest.

I have been doing things so my usage across the board for me has been a straight zero percent and have not had any autos increases from Discover or Chase so I think I might leave $100 balances on each and pay them right when my statement hits for a couple of months to see if either company will give me credit limit increases.

While I was willing to take 2 hard pulls for the two CLIs I just got, I want to get ones where you they use soft pulls instead because I want to keep the hits low for when I start shopping for car loans.

I know that it will probably hurt my score because my utilization will be going up but since it isn't even 2% i should be fine correct?
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday


pewpew
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Postby pewpew » Mon May 06, 2013 4:40 am

432521 wrote:a discover rep told them that they don't care about usage if you pay it off before your statement closes


exactly. and this goes for any lender. they report your utilization at the moment the statement closes. they don't report your balance every time you charge an item. hell, i had plenty of times when i went over my CL and it was never reported since i paid off before the statements closed.

when i asked discover for a credit limit increase they never pulled any of my credit reports. they just asked about my salary and why i need the CLI. chase on the other hand pulled one of the 3 reports when I asked for a CLI. it was a hard pull

discover aromatically raised my credit limit every two years or so from the day i opened the account. but i actually had balances when the billing cycles ended. i never paid any interest though since i paid off everything within days after the statement was generated. and i also spent a boat load of cash. to give you an idea of how much i spend with my discover card... in just 2011 alone discover sent me $1275 in gas gift cards.

I'm looking at your siggy right now, and it looks to me that Discover has been very generous on the CL with you already. When I got my Discover card I only had a $2000 CL for the first 2 years. If you are spending only 2k a month across all your cards and not passing any credit lines, then your credit score will be fine. at this point you will just have to be patient. those automatic CLIs will come eventually.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL

Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.

C.K.
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Postby C.K. » Mon May 06, 2013 5:05 pm

I think using your card and paying the balance in full all the time is the right answer. Discover just gave me a 5th auto CLI a couple weeks ago so now my CL is $2k (was $1,500 before that and it was at $500 when I started with them nearly 2 years ago.)
Discover IT: $2,500 CL
BankAmericard Better Balance Rewards Platinum Plus Visa: $2,000 CL

758 FICO Score from TransUnion at no charge thanks to Discover!

KrazyNick
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Postby KrazyNick » Sun May 12, 2013 6:28 pm

Hmm not sure about that, I only charge $100 dollars or so a month on mine, I just converted to the Discover It card and when I called to activate it, she doubled my credit limit from 1500 to 3000. Approved instantly soft pull. I've never had more than a 150 balance on it!
Bank of America Travel Rewards Visa Signature - 5k (2/10)
Capital One Mastercard- 2.5k (1/11)
Chase Freedom- 5k (4/11)
Discover It- 3k (5/11)
Chase Amazon Visa- 2k (5/13)
American Express Blue Cash Everyday- 8k (5/13)

Bank of America WorldPoints Rewards for Business- 18k (11/11)

FutureBillionaire
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Postby FutureBillionaire » Mon May 13, 2013 12:49 pm

I use my cards with them in spurts, since their categories can stink. I've gotten 2 CLIs, one auto, on my IT/More. I've never gotten one on my Discover Miles that was recently upgraded to the Escape.
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

432521
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Postby 432521 » Mon May 13, 2013 12:56 pm

FutureBillionaire wrote:I use my cards with them in spurts, since their categories can stink. I've gotten 2 CLIs, one auto, on my IT/More. I've never gotten one on my Discover Miles that was recently upgraded to the Escape.


do you let the charges report and pay them after your statement has posted or do you leave a 0 balance on your statement?
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

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Z06Biker
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Postby Z06Biker » Mon May 13, 2013 1:06 pm

C.K. wrote:I think using your card and paying the balance in full all the time is the right answer. Discover just gave me a 5th auto CLI a couple weeks ago so now my CL is $2k (was $1,500 before that and it was at $500 when I started with them nearly 2 years ago.)


I guess it depends on your spending pattern, but a CLI of $1500 across 2 years seems pretty stingy to me. Then again, these were auto and not user-initiated.

I suppose the reputation of Discover being misery still holds true?
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

MemberSince99
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Postby MemberSince99 » Thu May 16, 2013 6:33 pm

Yep. I can confirm that. As their underwriter told me "We are a conservative lender". The only other one I've heard that from before is Cap One, and the only time I've heard these used was to deny higher limits. Even if they can't pin an issue on you as to why you shouldn't have a higher limit, the "we are conservative" covers it.

But like everything YMMV. I've read of people with scores in the 680s getting 8k to start. Nothing is set in stone. From what I've seen, a lender can feel anything under the sun about you and it's not much based on your score alone or they'd all like me. Who knows what criteria they use. But as a rule, Discover is pretty stingy and that's why I no longer have a Discover. I love their rewards and their great CS, I just refuse to be stuck with a toy limit card that will NEVER grow like a Cap One. If I wanted that, I'd apply for Cap One. Seems to me that's what Discover is trying to become these days.

Sevenfeet
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Postby Sevenfeet » Fri May 17, 2013 11:06 am

Something to add to this thread...this morning I got an email from Discover congratulating me on new CLI from them on my IT card. Now for those of you following my story, you know that I've been generally ticked at Discover for their lowball CL ($2500) and high beginning interest rate (20.99%) since I apped for them at the end of February. So it was a surprise to see a CLI after only three months....

Oops, cancel the happy dance...the quote from my email:

"Congratulations! We're pleased to inform you that your outstanding credit management has earned you a credit line increase on your Discover® card.

The new credit line on your Discover card account is $2,750, of which your cash credit line is $700.

In the coming months, we will continue to evaluate your account. Then based on your overall credit behavior and Discover card usage, we may continue increasing your credit line."


That's right, they CLI'd me a whopping 10% to bring my old CL of $2500 to a whopping $2750. Not a $2750 CLI...a $250 CLI. Really guys? That's supposed to blow air up my skirt? I just spent that much on dinner with my wife a few days ago at the Palm. Did you not read in my account profile that my household income is closer to $200K, not $20K?

Now in Discover's (weak) defense, I've not been using this card much...no more than $150 ever charged on it in a month and always PIF. I still intend on buying a new Macbook Air or Pro for my wife when Apple announces new product in two weeks with this card. And then we'll see if their opinion of me changes at all. But man, these guys are cheap!
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)

MemberSince99
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Postby MemberSince99 » Fri May 17, 2013 1:06 pm

Yeah, I hear you Seven. I agree that's not much to do the happy dance over, but it's WAY more than they ever gave me (250 more) and I dropped hundreds if not thousands on them almost every month. Never any luv from those guys, and when I closed the card and then re-applied later they ALWAYS gave me a lower starting limit, significantly lower.

They seriously flat out told me we are a conservative lender. Ok, Cap One, whatever you say. It's really a shame I think they are so cheap they are losing profitable customers with it. Mind you I totally understand guarding yourself, you have to, and that's not my beef with them, my beef is in our case they have guys with much higher than toy limits but they still stick us with a toy limit, and in my case they just NEVER give you any luv, and in your case they give you a joke CLI. I think they are costing themselves business with that outlook. Both of us have other creditors who seem to want our business and have given us limits to show that. Not Discover. That's why it's not in my wallet anymore. Why should I give them the business when I can give it to creditors who will grow with me? That's my outlook.



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