Got a huge credit line on my first account

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
catsartcox
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Postby catsartcox » Wed Jun 26, 2013 2:56 pm

That is crazy. I am in the low 700's and they never offered me that.
Question though, Did you get the college IT card or the normal 'prime' one?
Wells Fargo w/ Points - 6.2k
Discover More - 10k
Citi Forward - 3.7k
Citi Thank You Preferred - 18.5k
AMEX Blue - 16.4k
AMEX PRG- NPSL
Barclay Juniper card/Apple - 9k
GE Capital Amazon Store Card 5k

score
722(7/13) 732(8/13) 734(9/13) 743(2/14) 763(07/14) 798(3/15) 749(4/16)


Striker_9
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Postby Striker_9 » Wed Jun 26, 2013 4:49 pm

I got the normal IT card.

25y/o, $65,000 income, $400 rent, just got a $7,000 car loan from Penfed, ~$25,000 in student loans.

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Z06Biker
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Postby Z06Biker » Wed Jun 26, 2013 4:52 pm

I think the REAL question here is -- how the hell do you find a place with only $400/month rent?!
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 » Wed Jun 26, 2013 4:53 pm

I'll trade you both my Associated cards for your Discover card!

Striker_9
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Postby Striker_9 » Wed Jun 26, 2013 5:02 pm

Z06Biker wrote:I think the REAL question here is -- how the hell do you find a place with only $400/month rent?!



Doesn't include utilities, $1200 rent split between 3 roommates, Cleveland.


Figure I'll use this for about 6 months and then an app spree.
I'd like to get a card for Delta or United rewards and maybe another for general rewards on gas/restaurants.

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Z06Biker
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Postby Z06Biker » Wed Jun 26, 2013 6:18 pm

I hear Cleveland is fast becoming a new metropolitan hub complete with celebrity chef gastropubs, prohibition-style spots featuring the latest in molecular mixology, and a lot of cool new loft-style condos. Hey, get in while you can.

If you're looking at airline cards, boy is there ever a lot to choose from. Personally, I view United as having the best miles program. Delta would probably be among the worst.
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

Robrus1
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Postby Robrus1 » Thu Jun 27, 2013 8:16 am

$16,300?! What? I bet Bill Gates' Discover Card is about 12K. Congratulations! That's awesome! What did you put down as your occupation? Chairman of the Board of the Federal Reserve?
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

MemberSince99
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Postby MemberSince99 » Thu Jun 27, 2013 10:23 am

Yeah it is hard to believe isn't it Robrus1? As tight as they are with limits, and every now and then they just go nuts on it. And I've NEVER seen them do it for someone in the 780-800 score range honestly it's always people in the 600s. There has to be a method to the madness but damned if I can figure it out. Your score has little to do with the limit you get with Discover, that much is pretty clear.

flan
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Postby flan » Thu Jun 27, 2013 5:46 pm

MemberSince99 wrote:Yeah it is hard to believe isn't it Robrus1? As tight as they are with limits, and every now and then they just go nuts on it. And I've NEVER seen them do it for someone in the 780-800 score range honestly it's always people in the 600s. There has to be a method to the madness but damned if I can figure it out. Your score has little to do with the limit you get with Discover, that much is pretty clear.


Score, at least in terms of 'vanilla' fico score, has very little to do with limit from any lender. They have more sophisticated mechanisms at their disposal. Discover uses something quite unlike other credit card companies, true, but I'm sure it's rational. (sort of, at least.)

Userofcards
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Postby Userofcards » Thu Jun 27, 2013 6:36 pm

MemberSince99 wrote:Yeah it is hard to believe isn't it Robrus1? As tight as they are with limits, and every now and then they just go nuts on it.r.


You keep talking about discover being 'tight with limits" when it isn't even true in your case. You opened a Discover More in 2012 with a 5.5k limit. That's higher than your AMEX BCP, closed Chase Freedom, current Chase Sapphire Preferred, a Barclaycard account you closed, and probably others. True, Discover didn't give you the high limits of FNBO or Associated, but it seems odd to single Discover out for "tightness" when Discover actually did better, limit wise, than around half your cards.

Its true your limit went from 5.5 k on Discover to 3k on your last. But within a bit over 1 year you opened and closed Discover 3 times! You never kept an account open long enough to get a substantial CLI (auto, soft pull or otherwise). The decreased limits are probably caused by that.

Anyway, perhaps Discover may be less likely to give large limits than other lenders. But these repeated insinuations that Discover gives only "toy limits" are simply false.



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