I really should get over it

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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MemberSince99
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I really should get over it

Postby MemberSince99 » Tue Jun 11, 2013 7:42 am

But, I just read another story on FICO by a guy, who got approved for a Discover with a 6k starting limit with a score 85 points below me, and baddies on his report and no other cards. I was like wow are these guys something else. I've seriously begun to think they really WANT "risky" customers because they feel they will carry a balance and be more profitable for them. I mean look at the changes they made to the IT card from More - no late fees which people like me couldn't care less about as I never pay late, almost seems like they want to attract a lower tier of customer.

I just honeslty don't "get" how my credit profile doesn't support over a 3k limit with these guys, even though they themselves gave me more not long ago, and yet a 680 score with baddies reporting supports a 6k limit to start without having anything. I really don't get that at all. And they'll probably auto-cli him too, which I never got a thing from these guys despite reasonably heavy spend and PIF immediately.

Just kind of galls me really I probably shouldn't even read the approval posts for Discover as it does no good, just further antagonizes me towards them. I will say though it's glaringly obvious they really couldn't care less about having customers like me. I really suspect they don't like people who do it the way I do - PIF. Amex loves it, they'll let you pay as much as you want to, BofA I've heard prefers that too as does Chase, but Discover is another animal.


dickey1331
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Postby dickey1331 » Tue Jun 11, 2013 9:24 am

If you are nice to people building up there credit then they could be loyal to Discover in the future. Doesnt hurt helping out people who could use a secound chance but I agree that it seems you should have gotten a higher limit.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

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Snowman
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Postby Snowman » Tue Jun 11, 2013 9:34 am

Member- Stop reading myfico!...lol, it'll make you think about Discover more, which in turn (to be blunt) won't do anything to help your relationship with them. Yes, they do like customers like that, and I think mainly it is because they are the smallest of the major CC issuers (compared to Chase, Amex, and Citi.)...and they need to be more profitable...IMO, which is why I would think they don't think your their ideal customer.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

TheLethargicAge
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Postby TheLethargicAge » Tue Jun 11, 2013 11:37 am

Maybe it's all those cards you've closed that they don't like. I dunno.
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)

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djrez4
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Postby djrez4 » Tue Jun 11, 2013 1:26 pm

How did I know who the author of this thread would be without even seeing the first post?

Let it go, man. Be happy in the now.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

Userofcards
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Postby Userofcards » Tue Jun 11, 2013 2:04 pm

I don't get it. You opened a Discover two or three years ago with a 5.5k limit - Bigger than your AMEX BCP, your Chase Sapphire Preferred, a barclaycard account you opened and closed, et cetera. You then closed the card within a short period of it being open because they didnt increase your credit limit. Then within you opened another discover account - 4.5k limit - but closed that after not even six full months, again because the limit was too low (though it seems competitive with at least some of your other limits) and within a month or two after closing that account, you open another but only get a 3k limit, and then you instantly close it.

I don't see that Discover is the one behaving oddly here. Perhaps you are getting lower limits because you are consistently opening and closing accounts with Discover (and other issuers: you had a Chase Freedom, USBank Cash+ and an AMEX that you opened and closed in short time). Perhaps Discover thinks you are only interested in sign-up bonuses or 0% APR specials or perhaps people who open and close accounts are seen as riskier (even if their FICO is excellent).

As for your idea that discover doesn't "like" people who Pay In Full: While they may love people who pay interest, I am skeptical that they "dislike" customers who pay their bill fully each month (unless perhaps those customers only buy stuff in the 5% rotating categories). I've had discover for many years, I've always paid in full each month (never paid a penny in interest), and I have had no problem getting a competitive credit limit (Discover was my first card to reach 5k limit), an APR reduction (Thankfully APR isnt relevant to me, but I simply called and they reduced it!) and a credit limit increase when my income and spending increased. Perhaps Discover is more friendly toward people who carry a balance than other issuers and perhaps discover is less likely than other issuers to give 10k+ limits. But it is certainly possible to use discover, pay in full each month, and have a credit limit that is more than sufficient for one's spending level.

But I suspect your troubles getting a bigger CL (and again your first Discover limit was 5.5k, greater than Chase Sapphire and Freedom, Barclays, AMEX BCP so I'm not really sure how discover is different in this regard) have less to do with who they "like" and more with your pattern of opening their card and closing it in less than a year. I suspect that if you had kept your 5.5k More card and used it consistently, Discover would have increased your limit had you called and asked. Maybe they would have pulled a credit report. But as you've opened/closed them three times in the last few years and other issues quite often as well, so you don't seem adverse to credit pulls.

Finally, you say you don't "get" how your profile supports only a 3k limit while some other myfico poster has a 6k limit. Perhaps that poster has a bigger stated income or perhaps Discover's algorithms see that you have around 50k in available credit. Perhaps if your income isn't ultra-high Discover is concerned. Perhaps Discover feels customers with a lot of available credit compared to income are riskier customers.

Despite your endless complaints about low Discover limits, your initial 5.5k limit with them is higher than what several other issuers are giving you. And despite your endless complaints that Discover won't "grow" with you, you have closed their card before giving them much chance to increase your limit.

Anyway so what. Discover didn't "wrong" you in any serious way despite your talk of being "galled" and elsewhere of being "insulted." If you dislike the card, simply use another one of your many cards. No big deal. These incessant and hyperbolic posts about Discover are harder to read than the "gardening" posts that draw so much ire.

MemberSince99
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Postby MemberSince99 » Tue Jun 11, 2013 6:01 pm

TheLethargicAge wrote:Maybe it's all those cards you've closed that they don't like. I dunno.


It's possible. However, from the lender's point of view, if I can't be a profitable customer, would you prefer I buy a pack of gum every couple of months on a 10k limit card to keep it open, or would you rather I closed it so you could give that line to a potentially profitable customer? It's a serious question.

MemberSince99
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Postby MemberSince99 » Tue Jun 11, 2013 6:02 pm

djrez4 wrote:How did I know who the author of this thread would be without even seeing the first post?

Let it go, man. Be happy in the now.


It says the author by the post, so I'm guessing you saw that?

MemberSince99
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Postby MemberSince99 » Tue Jun 11, 2013 6:08 pm

Snowman wrote:Member- Stop reading myfico!...lol, it'll make you think about Discover more, which in turn (to be blunt) won't do anything to help your relationship with them. Yes, they do like customers like that, and I think mainly it is because they are the smallest of the major CC issuers (compared to Chase, Amex, and Citi.)...and they need to be more profitable...IMO, which is why I would think they don't think your their ideal customer.


I already think of gardens and seedlings and spades (have you seen the spades at the lower right hand corner and like the Charlie Brown Christmas tree for the seedling?) from reading FICO. Oh and their ERT (Emergency Reponse Team) for people thinking of committing the horrible crime against all humanity and terrorist action of applying for a credit card. I will be a MyFICO zombie and spout these things I will I will I will :)

Just kidding!

I know, I'm not a good customer for them. Oh well I guess. I'm happy with the cards I have.

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Snowman
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Postby Snowman » Tue Jun 11, 2013 7:56 pm

LOL, of course I have seen the spades from myfico. LOL, it is actually pretty entertaining. I would like to add a travel card to my list of cards, but I figured that they had a point: I could get approved for the card, but not necessarily at the limits I would like, and in 6 months when my inquiry is less impacted on my CR, I would have a better chance of approval. And yeah, just be happy with the cards you've good, and be happy that you have an Amex and Chase, there are many people that would love to have both issuers in their wallets, don't worry about Discover, they aren't as great as everyone says they are (the only reason why I like them is because of their CS.) Other then that, I'm not fond of Discover.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.



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