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HiLine
Posts: 2,836
Registered: ‎10-19-2012

Discover's perplexing credit limit increase

I have a Discover More. I requested a credit limit increase on the phone last weekend after the customer service representative reassured me that the request would not result in a hard inquiry. I wanted a new credit limit of 5k, a 3k increase from the current limit. The instant decision was a flat out denial. The following Monday, a letter was sent to my address to confirm the credit request rejection, stating the reasons including the number of new accounts and the ratio of overall balance to total available credit (which was around 12% at the time).

 

There wouldn't have been anything to talk about if not for what ensued next. On Thursday, a different card of mine reported a new balance, bringing overall utlization to 17%. Consequently, on Saturday, my credit monitoring service alerted me of a credit limit increase of $250. Insignificant, but still non-zero.

 

I can't come up with the reason for the eventual credit limit increase. I did not make a second request. The only thing that changed over the course was the new, larger reported balance from a different credit card. Could it be that Discover regretted their initial decision and sought to appease the customer by "partially" granting the request? $250 is not even 10% of what I asked for, but it shows that Discover partially agrees that I should be granted more credit.

 

What's your theory? :smileyhappy:

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: Discover's perplexing credit limit increase


HiLine wrote:

I have a Discover More. I requested a credit limit increase on the phone last weekend after the customer service representative reassured me that the request would not result in a hard inquiry. I wanted a new credit limit of 5k, a 3k increase from the current limit. The instant decision was a flat out denial. The following Monday, a letter was sent to my address to confirm the credit request rejection, stating the reasons including the number of new accounts and the ratio of overall balance to total available credit (which was around 12% at the time).

 

There wouldn't have been anything to talk about if not for what ensued next. On Thursday, a different card of mine reported a new balance, bringing overall utlization to 17%. Consequently, on Saturday, my credit monitoring service alerted me of a credit limit increase of $250. Insignificant, but still non-zero.

 

I can't come up with the reason for the eventual credit limit increase. I did not make a second request. The only thing that changed over the course was the new, larger reported balance from a different credit card. Could it be that Discover regretted their initial decision and sought to appease the customer by "partially" granting the request? $250 is not even 10% of what I asked for, but it shows that Discover partially agrees that I should be granted more credit.

 

What's your theory? :smileyhappy:


There really is no methodto Discover's madness. They have a special place in my sock drawer. :smileyhappy:




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oscar_actuary
Posts: 292
Registered: ‎03-25-2013

Re: Discover's perplexing credit limit increase

they were just hoping to get some publicity on myficoforums.

 

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azguy13
Posts: 5,375
Registered: ‎04-30-2013

Re: Discover's perplexing credit limit increase


oscar_actuary wrote:

they were just hoping to get some publicity on myficoforums.

 


So essentially they got a bunch of free advertising on myficoforums by giving a $250 CLI.... not a bad advertising model, lol. 




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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: Discover's perplexing credit limit increase


oscar_actuary wrote:

they were just hoping to get some publicity on myficoforums.

 


:smileyvery-happy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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myjourney
Posts: 25,277
Registered: ‎02-07-2013

Re: Discover's perplexing credit limit increase

Discover ....Discover....Discover 

When you figure out your CLI' criteria

Shoot me one:smileywink:

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HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: Discover's perplexing credit limit increase

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Senior Contributor
myjourney
Posts: 25,277
Registered: ‎02-07-2013

Re: Discover's perplexing credit limit increase


HiLine wrote:

Can't believe I fell for it lol


:smileylol:

"Intelligence plus character--that is the goal of true education"
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Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Discover's perplexing credit limit increase

Discover typically, ime, does small auto clis every few months, usually available a few days after statement cutting.
Did your statement cut recently? Did a new billing cycle begin for you?
Either way, congrats!
So far I've received a $750 cli and then a $250 cli - so a total of $1000 via sp. lol
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HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: Discover's perplexing credit limit increase

Oh that's right - I forgot to mention that my statement cut on Thursday. My Discover More is now 9 months old - I got it last October. Perhaps the statement balance of 0 helped - even though the balance on the card has been $0 for 2 weeks now.


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