Bksuper wrote:Actually, even though I don't have any first hand experience with discover, from what I've read here they give smaller limits not because your score is high or low, but if you already have lots of cards and credit proportional to your income. Even if you make $200k per year, if you already have $100k+ in credit, they'll lowball you. If you've built up enough history to show you're trustworthy, but only have a couple of cards open with decent breathing room with your total limit to income and utilizations, then they'll give you a higher limit, even if your score and income is much lower than the person with the higher total limit. If you have a really low score, they'll just decline you outright, but I think DTI, Total Limit to income, and low utilization is probably what sets the limit once you're actually approved.
You could be on to something. I don't really get them, and it's just better in my case I do business with other lenders who show a desire to compete for my business. It's a shame, though I like everything else about them except how damn Cap One like stingy they are. Drives me nuts. If they just loosened up a bit, I'd have their card. I'm not going to waste my time on their 3k limit card that will NEVER grow at this point. I'd rather give the business to those who show they want it.