@SouthJamaica wrote:
@Anonymous wrote:
I'm stunned. After huge approvals and score boosts into low 700 land, Discover made me get a co applicant for approval and then on top of that gave us a $500 CL !!! My partners scores are 770s and our combined income is almost $175k!!! Absolutely ridiculous. They seek to think they are elite among the Elite!
Amex ED: $4000
Amex Delta: $7,700
BBVA Nba: $5,000
USAA: $2,000
All within a week. Discover was my last in spree and I was stunned. They cite reason as 30'day lates from 5 years ago and INQs !!! Five years! I told her that a late or two from five years ago no way accurately reflects my present situation (I was very ill), and is unjust to utilize at this time. No dice. $500 with a consigner.
I'm angry and thinking of telling them to shove it and canceling. Why Discover has this holier than thou attitude I will never know. Their card is pretty, but much like other things in life, pretty doesn't always equate to something worth while! Perhaps I sound entitled myself, but I'm sorry -- scores as mine, high income AND a cosigner with $500 CL is just insulting. Sleeping on it then possibly closing in AM. waiting on a call from a Manager too, but that'll do no good I hear. Many complaints on this forum for the exact same reason with this company.
I'll
Be happy with my Amex's and BBVA :-). Got an awesome
BT OfferwithBBVA and scooped it up !Let me tell you a recent experience I had. I applied for the Synchrony Walmart Mastercard. Was approved but got a disappointingly low credit limit Then I reconned and they stuck with the limit. I was PO'd so I cancelled the card within a couple of days after receiving it.
Then I started reading a lot of posts here about people with that card getting all kinds of credit limit increases. And I also realized that I'd already taken a hard pull to get the card, and was also being credited with a new account even though it was now cancelled, and had nothing to show for it. At least if I'd kept the card, I'd have the card, I'd have the itty bitty credit limit, and over time the limit would grow.
So I resolved that the next time I apply for a card and am granted it, I'm keeping it, whether I'm disappointed in the credit limit or not.
Very wise words!
The same thing happened with my Sam's Club MasterCard; I was thrilled with getting approved, but the initial $1500 CL left a bit to be desired.
I decided the rewards were worth the hassle of 'maxing' the card each month, and I stuck with it. Just a few weeks ago (after the third statement) they gave me an auto-CLI to make my new credit line $4850. To many folks that's still "small" but for me it's very usable, since I PIF each month other than deferred interest promos. (I'm aware that Credit Solutions could possibly give even more, but for now I'm happy...)
To the OP, I definitely understand your frustration with Discover, especially with having such a strong co-signer. While simply closing the card would certainly be reasonable, if it were me I would let it stay open. You've taken the 'hit' for the HP, and it's going to report anyway so you might as well make it work to your advantage. You can use the card for 'category' purchases, and simply PIF each month (or more, if necessary). If you don't believe using it this way would be worth your trouble, simply SD the card; it's likely that with a little time they'll give you a CLI, which might make it valuable to you.
This being said (and, for what it's worth) I would support you in whatever you decide. Like you I've recently 'graduated' from rebuilding myself, and regardless of the cause this offer from Discover is like being told to sit at the 'kiddie table' after you've just gotten used to sitting with the adults. 
Didn't you have a recent approval for $1,000 SL on a BoA card? That should have probably told you to chill out a bit and hit the garden. When you start getting those low CLs with prime lenders it means you've hit the wall for your profile and its time to stop. What are your current EQ scores? Cause if you got a $500 line with a 700+ score, that's insane but possibly telling. The one thing is Discover is generally very good with CLIs once you get a little history with them. So it might behoove you to keep it open.
You've done really, really well but you're going to keep ending up with toy limits if you don't hit the garden. Just because you can get approved for something doesn't mean you should apply. Discover can be finicky, they represent my smallest CL too, so I wouldn't take it personally. It's based on some kind of data. $1,000 and $2,000 limits are rebuilding type lines - or they mean lenders are getting wary of the recent INQs.
@Anonymous wrote:
I'm
Not really "rebuilding" anymore. Rebuilders typically don't get CLs of $7700, and a total of over $15k in a few days. . When I hear rebuilding I think high 500s, low 600s scores. I'm way past that. I suppose in a sense I'm still in that bracket but barely.
You have to admit that it is completely off compared to other approvals -- especially with other prime lenders. Amex especially ! Just don't get it.
I consider myself still rebuilding even though I don't have a limit under $4,000 and several nice limits. I consider negatives on your reports to still be 'rebuilding.' That may be way off the typical definition of rebuilding but that is mine! It just takes time. Discover is weird. I got approved for a huge limit with scores well below yours, and below what mine are now, and it's coming up on 3 months of account opening for my first increase. You already took the HP's so you may as well keep the cards open. Even though it won't help your utilization (way over hyped anyways) it'll be a positive account on your reports which is more important anyways.
Keep up the good work Joey!
Personal:
@Broke_Triathlete wrote:
@Anonymous wrote:
I'm
Not really "rebuilding" anymore. Rebuilders typically don't get CLs of $7700, and a total of over $15k in a few days. . When I hear rebuilding I think high 500s, low 600s scores. I'm way past that. I suppose in a sense I'm still in that bracket but barely.
You have to admit that it is completely off compared to other approvals -- especially with other prime lenders. Amex especially ! Just don't get it.I consider myself still rebuilding even though I don't have a limit under $4,000 and several nice limits. I consider negatives on your reports to still be 'rebuilding.' That may be way off the typical definition of rebuilding but that is mine! It just takes time. Discover is weird. I got approved for a huge limit with scores well below yours, and below what mine are now, and it's coming up on 3 months of account opening for my first increase. You already took the HP's so you may as well keep the cards open. Even though it won't help your utilization (way over hyped anyways) it'll be a positive account on your reports which is more important anyways.
Keep up the good work Joey!
Proof disco is weird. I just submitted my 1 CLI and they offered $500. I declined because hopefully in a few weeks it'll be a litle more, and honestly $5K is more than what I need for my spending anyways. However, with my vacation and my engagement I recently had I have gone though $12K in the last few months. In the end though it is what it is. No hard feelings and keep moving forward!
I still say keep the account open and try your best to keep the sense of entitlement to a minimum to keep the emotions out of play. Although disappointing disco approval with your awesome limits as of late, it's just business to them. If you keep the emotion out of it you'll mentally feel better for this game of credit!
