- Centurion Member
- Posts: 257
- Joined: Sun Oct 14, 2012 10:22 pm
- Location: California
MemberSince99 wrote:Yeah I hear you Sevenfeet. They are so cheap they would only give me 3k so I closed it. It seems like the better your credit the lower your limit with Discover.
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.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012