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I have had my Discover IT card since December 2015 and have had the same $500 credit limit the whole time. I used it frequently and would leave a balance sometimes adn pay it off sometimes for 6 months but after 6 months they wouldn't budge on a CLI. I stopped using that card and used my Barclay arrival and now Southwest but I wanted to take advantage of the 5% bonus catagory for the next 3 months but I went to ask for a CLI and it wants to pull my credit report and I don't want the hard pull, is there any way around this? and with my luck it would be a HP and denied CLI lol
@mattayy wrote:I have had my Discover IT card since December 2015 and have had the same $500 credit limit the whole time. I used it frequently and would leave a balance sometimes adn pay it off sometimes for 6 months but after 6 months they wouldn't budge on a CLI. I stopped using that card and used my Barclay arrival and now Southwest but I wanted to take advantage of the 5% bonus catagory for the next 3 months but I went to ask for a CLI and it wants to pull my credit report and I don't want the hard pull, is there any way around this? and with my luck it would be a HP and denied CLI lol
You mean 3 months (January,February, March)? A $500 limit means that your approval was borderline. I was in the same situation and my CL did not grow until the 1 year year mark. Please understand that unless you give it time and whatever Discover did not like about your profile changes, they will not increase it.
Woops sorry guys December 2014*****
My credit scores now are between 50-70 points higher than when I had applied for the card
@mattayy wrote:My credit scores now are between 50-70 points higher than when I had applied for the card
Scores are not everything though. They take a look at the whole picture (scores, income, inquiries, AAoA, new accounts, utilization, derogs, etc). There must be something in your reports that they are not liking. My Discover was opened in October 2014 and has grown to $4.8k, but I have not applied for anything else in months and BK fell off my reports.
@mattayy wrote:My credit scores now are between 50-70 points higher than when I had applied for the card
Right, and as mentioned above, scores are one of several factors considered for potential CLIs reviews. It appears you barely squeezed through the door with that SL though. Otherwise, all things considered, they would've approved for a higher CL from the get-go. So, I guess the question begs, what's holding back your profile?
Hmm I really don't know what the problem is...are they inquiry sensitive?
don't know about for CLI's but for new accounts I routinely get denied strickly for "inquiries within the last 3 months" & "inquiries in the last 6 months"
Good morning. My Discover It was approvedabout 10 months. My starting CL was $800. In December, it was auto-increased to $1,000. Last week, when paying my card on-line, I requested another increase and it was approved for an additional $500., bringing my CL now to $1500. For me personally, they are stingy with the CLIs. On the same day my Discover It card was approved, I had also applied for and was approved for Barclay card for $1,000 starting limit. About 6 months after having the card, I called and asked if they could lower my APR and increase my credit line. They lowered my APR by 1% but it was a no-go on a CLI. In late January, before leaving on a cruise, I had paid my Barclay card online and was throlled to see they had increased my CL by $2000 and now my CL stands at $3,000.
My point in compating the two is to simply say that credit card companies and their banks are finicky. I've had major success with my Cap 1 Quicksilver, which has increased over $5,000 in the same time period. My CL with my Quicksilver is now at $9,000. They have been much more CLI - friendly than any card I have. So do not be discouraged. Try again in another 90 days. It will grow, albeit not as quickly as you woul like. As I said, Discover It has been the most stingy with CLIs than any other card I own. Good luck.
PS -- My scores are similar to yours. 673, 679, 688.