Discover IT Reduced my Credit limit

Niki9 · ‎02-15-2015

My BK was done in May of 2014 I got a Discover IT card in August. My score has gone up about 10 points and now Discover reduces my credit limit from $1400 to $770 ...... UGGGHHHH!!!!!

Creditwiser · ‎02-15-2015

Wow. Youre the second post Ive read on this topic in the last week or so. Just like the other post, its remarkable that you were approved in the first place. Congrats on that. Remember that you're still in the door. Take care of the account and Im sure you'll get back to where you were and then some.

Niki9 · ‎02-15-2015

I'm appreciative that I recieved the card in the first place. This just messes up my plans. I have to readjust and maybe keep my creditone card longer than I wanted to.

Anonymous · ‎10-23-2015

this happened to me as well. From 1000$ to 500$. I was a bit surprised. No balance, no lates, nothing.

possible reasons:

I had not used the card at all in the 6 months since I opened the account.

In the billing month this happened my fico scores had dipped into the 650s due to higher utilization on other cards.

although they gave zero reason or notice for that matter

2 months later my fico scores are above 700. I paid down my cards to have under 5% utilization. Cap One and Amazon have both raised my limits above 4000$ and I have since been approved for a CU Mastercard 2000$ @ 8.9%. I have tried discovers credit line increase button on their site recently and got zero love. I think I will call their reconn line soon and see if they can bump me back up. A 500$ credit limit seems so dinky now compared to my other cards.

ezdriver · ‎10-25-2015

Same thing happened to me. I now just use the card for my bar tabs knowing that I cannot overspend in any bar [no matter how spaced out I happen to be] as my card would just reject the charges. I thought of that as my silver lining in order to keep my cool about Discover. lol