Tiny Auto Credit Limit Increase

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Robrus1
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Tiny Auto Credit Limit Increase

Postby Robrus1 » Thu Jun 06, 2013 5:27 pm

As of this month I have had my Discover card for 6 months. I got an auto CLI for $500 a couple months ago, which I thought was small but it's Discover so whatever. Yesterday I got an email that they had given me another auto CLI for a whopping $250! Anyway, I appreciate two auto CLIs in 6 months, especially considering who they're from, but I just thought a $250 increase was kind of pointless. Discover is kind of weird. $50 increments is like they're Cap One or something and I have a $500 secured card. Anyone else ever get two CLIs from them in 6 months? I feel like that might be rare coming from them.
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Postby MemberSince99 » Thu Jun 06, 2013 7:41 pm

It is rare that means they like you. I never got anything from them. And a 5k limit on a Discover card is like 15k on a Citi or Amex. The vast majority of limits I see people put on their cards is under 5k. Yep they really like you.

And they do remind me of Cap One that way. I've started to not think of them as a prime lender anymore despite having fantastic CSRs and decent rewards with a great online shopping system. I kind of think of them these days as a Cap One with American CSRs. I have to tell you, the only two banks to tell me on the phone they are a "conservative lender" are Cap One and Discover. And neither one of them is kidding.

Ratfacedudeguy
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Postby Ratfacedudeguy » Fri Jun 07, 2013 12:26 pm

I lol'd because I just hit my 6 month mark as well and got a $750 increase. Definitely not feeling the odd dollar amount, but I guess I'm just too high risk to get that extra $250.

I do find it bewildering that everyone talks about how conservative Discover is when assigning limits. They've always been my highest limit. I remember back in '09 they approved my More at $2k and I about pooped myself lol. That was when my next highest limit was my BoA card at either $1k or $1500.
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Postby MemberSince99 » Fri Jun 07, 2013 12:44 pm

You are the exception though not the rule. If you check most of the limits of those cards on MyFICO or here, they are mostly below 5k, often way below.

There are exceptions and you are one of them so that's a very fortunate thing for you!

Ratfacedudeguy
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Postby Ratfacedudeguy » Fri Jun 07, 2013 1:10 pm

You know, doing some thinking about it, they may be so willing to give me high limits because I have such a prominent history of carrying balances and paying interest. I think that's the key is the paying interest part. I'm profitable for them and haven't ever burned them or missed any payments or anything. Maybe having a high limit Discover card isn't something to be proud of after all lol.
Amex Green - NPSL - 05/12
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Robrus1
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Postby Robrus1 » Fri Jun 07, 2013 6:14 pm

Ratfacedudeguy wrote:You know, doing some thinking about it, they may be so willing to give me high limits because I have such a prominent history of carrying balances and paying interest. I think that's the key is the paying interest part. I'm profitable for them and haven't ever burned them or missed any payments or anything. Maybe having a high limit Discover card isn't something to be proud of after all lol.


Discover seems like they want you to use the card a lot, but they prefer smaller transactions. They also prefer to give most people lower limits, and I agree that they like people to pay on time and carry a balance, but to make their payment early. The two times I got emailed about receiving an auto cli was just a few days after I had made a payment before receiving a statement. Discover likes you to spend less and pay less, vs Amex who likes you to spend spend spend, but then they want to be paid back asap. Their business models couldn't be much more different.
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Postby MemberSince99 » Fri Jun 07, 2013 6:21 pm

That's why I'm a good customer for Amex and not a good customer for Discover. Amex much better fits the way I like to do things and vice versa.

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Postby jrv » Fri Jun 07, 2013 9:25 pm

Robrus1 wrote:As of this month I have had my Discover card for 6 months. I got an auto CLI for $500 a couple months ago, which I thought was small but it's Discover so whatever. Yesterday I got an email that they had given me another auto CLI for a whopping $250! Anyway, I appreciate two auto CLIs in 6 months, especially considering who they're from, but I just thought a $250 increase was kind of pointless. Discover is kind of weird. $50 increments is like they're Cap One or something and I have a $500 secured card. Anyone else ever get two CLIs from them in 6 months? I feel like that might be rare coming from them.


I don't remember ever getting an Auto CL increase from them & I've been a cardmember for about 10 years. The only time I got any increase from them was in 2011 when they called me up out of the blue. They asked me the standard financial questions & I was able to get a CL increase of $1800.
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Postby jumbo » Mon Jun 17, 2013 9:51 am

Discover seems to not like me anymore. I got the Discover More in 2010, and for the first year and half, they increased my limit by $250 every 3 months. So I got from 500 to 2000 in the first 18 months. I have not had auto increase in more than a year now.
I use discover as my major card and almost always reach the limit, which I pay every month of course.
Recently I talked with a CSR about the CLI, and she told me I am not eligible for the increase now.
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Postby MemberSince99 » Mon Jun 17, 2013 2:13 pm

They sound just like Cap One. Next time you are declined, stop her and say let me take a wild guess at what you are obligated to say now: "Discover appreciates your business. We are a conservative lender, and we periodically review all cards to determine if they are eligible for increases. If you receive a credit line increase, it will be reflected on your account within 24 hours and you may begin immediately using it at that time. Unfortunately we are not accepting customer initiated credit line increases at this time, but as a conservative lender, Discover appreciates your business".

(That's the Cap One spiel, roughly).



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