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All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
TheLethargicAge
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Postby TheLethargicAge » Fri May 31, 2013 10:58 pm

MemberSince99 wrote:Sevenfeet has much higher limit cards than I do. And they gave him even less.

There must be a method to their madness, I'm not sure exactly what it is, it may be like Bksuper thought, if they see you have a bunch of high limit cards already, they aren't as inclined to give you a high limit.


True, but he got that card at the end of an 5-card app-spree and on top of that he was carrying a $30K balance which he transferred to one of his new cards. So the method to their madness seems to be, High Utilization + Many Recent New Accounts = Low Initial CL
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)


kqwqk27
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Postby kqwqk27 » Sat Jun 01, 2013 12:02 am

Discover seems to have a bit of gamble in them. Saw a thread over at myFICO of someone that received a decent starting CL with only fair credit. Larger than BK or Member99, and he didn't have anywhere near the limits on his existing cards as they do.

There's definitely a method.
My Cards:
Capital One Platinum MasterCard ($500)
Capital One Platinum Visa ($2k)
BofA Visa ($4k)
Citi ThankYou Preferred ($6.5k)
Chase United MileagePlus Club ($8k)
Discover IT ($8k)

MemberSince99
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Postby MemberSince99 » Sat Jun 01, 2013 12:17 am

My own utilization is never even as much as 1%. Currently as of yesterday (today it should be 0 across the board once Elan updates) I have 207 as a reporting balance on ~50k in limits (CSP and Amex are not yet reporting). That's higher than usual. It's usually more like 8 dollars or something. So I had very low utilization, and only a couple of new accounts in the last 6 months when I app'd with them (2).

It would be interesting if anyone who worked there spoke up and kind of shed some light but they probably can't.

I was just reading a post on FICO of a guy who got a CLI out of Discover. With a HP of course. He recon'd them into giving him a 5k limit from 2500. He talked with the analyst and said this:

"It was definitely worth it. The only question he had was why I allowed only nine dollars to report last month. I told him that I was nervous that allowing too much to report on a small limit would cause my score to drop. That seemed to do it."

That kind of confirms the suspicion I've had that Discover does not like customers like me, who do not let huge balances post. I run plenty of money through my cards I'm using (and did through theirs in the vain hope of a CLI) but I pay the bill immediately as soon as it posts so I never report much of a balance and by the time it reports it's paid, or by the next day. Discover seems to really dislike that philosophy, contrary to most other lenders who like that kind of thing. That is a bit of confirmation of what I'd been suspecting.

As I've said I'm really not the sort of customer they want - I pay the damn bill immediatley and they don't care much for that apparently. Amex on the other hand loves it - I paid them twice yesterday in the same day.

AMEXPlatino86
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Postby AMEXPlatino86 » Sat Jun 01, 2013 3:12 am

See after reading this and a lot of the the other posts, I most like won't have any interest in applying for a Discover card. I get a letter from them once (sometimes even twice) a week wanting me to sign up with their cards but nothing really stood out to benefit me and just grow with me over time.

But now after hearing about this I would have to agree with you MemberSince99, probably going to blacklist them also.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752

rockyrock
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Postby rockyrock » Sat Jun 01, 2013 7:33 am

MemberSince99 wrote:
That kind of confirms the suspicion I've had that Discover does not like customers like me, who do not let huge balances post. I run plenty of money through my cards I'm using (and did through theirs in the vain hope of a CLI) but I pay the bill immediately as soon as it posts so I never report much of a balance and by the time it reports it's paid, or by the next day. Discover seems to really dislike that philosophy, contrary to most other lenders who like that kind of thing. That is a bit of confirmation of what I'd been suspecting.



I'm trying to feed your theory about Discover being out to get you but last year after more than nine months of no use at all they automatically gave me a CLI from $8k to $9.5k.

Your fixation with high limits--or failing to be approved for one is curious to me. Would you be willing to share why it is so important?
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

MemberSince99
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Postby MemberSince99 » Sat Jun 01, 2013 8:57 am

rockyrock wrote:I'm trying to feed your theory about Discover being out to get you but last year after more than nine months of no use at all they automatically gave me a CLI from $8k to $9.5k.

Your fixation with high limits--or failing to be approved for one is curious to me. Would you be willing to share why it is so important?


Um, where in what I said did I mention anything about them being "out to get me"? Would you mind quoting that and letting me know where I said it, or is that just your interpretation? And in that case you're wrong - I don't think that. I simply stated the fact they are not interested in being competitive with my other limits.

Seriously you have to be kidding. Why are high limits important? I'm not going to rehash credit 101 - do your own research. You aren't going to listen to anything I say so why would I waste my time explaining what you could easily Google?

What is important to me is something COMPETITIVE with what I currently have. I'd have been fine with 5k, which match my lowest limits. It didn't have to be 15 or 20k just something at least in the ballpark with what I have.

Did that answer your question or are you just hacked off because I closed them out for that?

MemberSince99
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Postby MemberSince99 » Sat Jun 01, 2013 9:14 am

Along these lines I just read a guy on FICO did an app spree. He got Amex Plat NPSL, Discover for 8k (sigh), and Chase Freedom for 500 bucks, and denied for CSP (no shock there, if they only give you 500 on Freedom you are marginal in their eyes and you won't be getting CSP along with it).

So in this case Discover showed him the luv, but Chase took the skittish approach. It's really always YMMV, that's just how it is, and some lenders will love you and you will hit it out of the park, and some will run you off the field as quickly as they can. In my case, as mentioned Discover is not a big fan, and Citi absolutely hates me, wouldn't touch me with a 10 foot pole. I've wasted at least 4 if not more inquiries just over the last couple of years with them, struck out every single time. I gave up on Citi. It's just how it is, when that happens it's best to just move on to other lenders, which is what I also did with Discover. Doesn't mean they are "out to get you" it just means they see something they don't like and don't really want your business either at all or very much. I'm sure all of us have seen this before.

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Z06Biker
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Postby Z06Biker » Sat Jun 01, 2013 2:03 pm

99, probably is best (for you) to avoid Citi, anyway. With the broad selection of cards you already have, doesn't seem to make much sense to further spread out your spending across yet another rewards program (ThankYou Points).
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 » Sat Jun 01, 2013 4:30 pm

Z06 agreed. I can't see what good Citi would do for me even if I could get a card from them, which I'd have more luck winning the lottery apparently than ever doing that, or getting a non-toy limit out of Discover. I gave up on Citi and have zero plans to app with them.

I'd rather work on Amex and Chase and FNBO though they already gave me a great limit that is honestly more than sufficient for my needs. The FIA card is a great card as well. I guess the ones that may be on the chopping block at some point are Associated and the BofA cards. I want to stabilize what I have for a bit and see how things shake out before I do that though. I need to feel comfortable with cutting them loose and I'm not there yet. But I honestly have too many cards to comfortably handle right now. Ideal would be 4 or 5 at most. What I currently have is getting a bit nuts, though I see guys on FICO with almost 20 cards, I don't know how they do it.

rockyrock
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Postby rockyrock » Mon Jun 03, 2013 3:47 am

MemberSince99 wrote:Um, where in what I said did I mention anything about them being "out to get me"? Would you mind quoting that and letting me know where I said it, or is that just your interpretation? And in that case you're wrong - I don't think that. I simply stated the fact they are not interested in being competitive with my other limits.

Seriously you have to be kidding. Why are high limits important? I'm not going to rehash credit 101 - do your own research. You aren't going to listen to anything I say so why would I waste my time explaining what you could easily Google?

What is important to me is something COMPETITIVE with what I currently have. I'd have been fine with 5k, which match my lowest limits. It didn't have to be 15 or 20k just something at least in the ballpark with what I have.

Did that answer your question or are you just hacked off because I closed them out for that?


Wow, lighten up a little. I just didn't understand where you are coming from, it wasn't a jab. Maybe you read a little too deep into these things, it’s just business after all, there is nothing personal about being denied an app or receiving a low initial limit. Each grantor has their own model with an ideal customer. The further you are away from that ideal customer the lower your limit, the higher your APR, etc.

It is because of the research I've done and my personal experience that led me to ask the question.

I have several cards and since 2005 haven't had an app denied. The limits on my cards range from $800 to $25k plus whatever my Amex Plat gives. Having a few cards with low limits has never hindered me getting approval for new cards, CLIs or APR reductions.

Last month when I called to have my HA Visa limit raised I told them I wasn’t going to change how I use it or use it more I just didn’t want the card maxed out each month. She told me that was a smart move and raised my limit to $3k from $1k. In fact I let her talk me into $3k, I originally only wanted $2k…

On average my FICO scores are probaly 25 pts lower than yours. I do well though probably due to all the other variables. All this leads me to believe that credit score is like $ e x in a relationship. When it’s good, it only accounts for about 10 percent of equation. When it's bad, it's 90 percent…

My experiences. YMMV
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC



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