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Valued Contributor
Posts: 2,667
Registered: ‎03-03-2008

Discover unOfficial Data Points

[ Edited ]

I'll start with the link to my first year post - http://ficoforums.myfico.com/t5/Credit-Card-Approvals/My-first-year-with-Discover-Data-Points/m-p/47...

 

Things that have been trending with Discover lately:

https://www.discover.com/credit-cards/secured/ - $0 AF / $200-$2500 deposit depending on the limit YOU want / rewards on purchases

 

Secured cards now have a 7th month statement conversion Reviews start per their new policy as of a couple of months ago.

- many posters showing conversion @ 7 months + a week or so after statement with a CLI and refund of deposit

- some posters in the 18-24 month period now getting conversion as well (seems Discover is clearing the backlog of secured cards)

 

Discover and CLI's:

First one isn't until 90 days unless you see an Auto CLI post to your account and then you can hit the CLI button and more than likely get the remainder of the cash on the table.

 

Some have reported double dipping on CLIs by calling 800-347-4856 the same day and doubling up on the CLI  ( this only works on the instant request and not the 2-day messages)

 

Someone had a question in another thread regarding when to use the number and I did a little more research and found it's only when you want to bump your instant SP request and not the traditional 2-day message requests.  Also, this is their "Lending" group for CLI's if you need to increase the amount over what's offered these are the people that can help do that and it may require a HP to do so depending on their initial review of the SP approval amount.

 

800-347-4856

Assuming these are EST:

MON-FRI 7AM-12AM
SAT-SUN 8AM-12AM

 

The rep I talked with today 12/2 was in their SLC UT call center.  The call was answered very quickly and just asked to verify DOB and said the CLI was approved, gave the new limit, and said that a supervisor needed to hit the final approval due to the normal reps limited to the CL that they can approve on their own.  Typical supervisor approvals after submitted take about a half hour for them to process and show up online. 12/5 It finally showed up and I had success on getting it rouded up from ending with 600 to 000 instead w/o a HP like they mentioned on the call Friday.

 

Discover and growth / spending:

 

Unlike other lenders Discover doesn't really like seeing tons of spending and will let you know on a CLI with the "balance escalating" reason code when denying it

Discover will entertain a CLI every 30-90 days depending on your profile; the sweet spot seems to be every other month (60 day intervals)

The card use should be normal useage and not chasing the rewards for an optimal CLI and not the $500 CLI

Discover plays hard to get when applying and you need to play hard to get when using it to maximize your "reward" CLI amount

 

 App Status

 

ETA: stealing this from another poster for the EO information to contact them.

Cardmembers with concerns regarding their personal credit card account should contact our Executive Office of Customer Advocacy at 1-866-222-0536

 

ETA: here's a quick link someone posted for checking your 5% spend earnings and any promos you may have on your account currently

https://card.discover.com/cardmembersvcs/promotions/app/myoffers/home

 

**feel free to tack onto this post as we gather more data about their practices and more people post about their experiences**

If you're going to whine about it, then you need to do something about it!
If you play the odds on CC's then the rules of Vegas will come into play and the House always wins and you don't own the House
http://ficoforums.myfico.com/t5/Credit-Cards/Discover-unOfficial-Data-Points/td-p/4802538 http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/m-p/4802617 www.depositaccounts.com go under checking / reward checking https://refer.discover.com/s/uya7c https://www.creditscorecard.com/registration
Established Contributor
Posts: 709
Registered: ‎01-20-2016

Re: Discover unOfficial Data Points


austinguy907 wrote:

 

 

Secured cards now have a 7th month statement conversion per their new policy as of a couple of months ago.

- many posters showing conversion @ 7 months + a week or so after statement with a CLI and refund of deposit

- some posters in the 18-24 month period now getting conversion as well (seems Discover is clearing the backlog of secured cards)

 

 

 

 

 


I wouldn't say they HAVE a 7th month statement conversion ... they now say they're reviewing secured accounts monthly to potentially graduate to unsecured. Not sure at which month they begin the review, but I just had my 8th statement cut and no "unsecured joy" for me yet. 

Senior Contributor
Posts: 6,144
Registered: ‎04-11-2016

Re: Discover unOfficial Data Points

While 30-90 days apart for CLIs is pretty standard for Discover, I would like to add that some outliers have reported CLIs 21 days apart or perhaps even sooner in some instances.

Valued Contributor
Posts: 1,415
Registered: ‎01-09-2015

Re: Discover unOfficial Data Points

What you're saying about spend in relation to CLI is interesting.  I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

 

Of course, Discover hates me in general.  I got a $800 starting limit after I responded to their pre-approval mailer whilet I've had many instant approvals between $10-30k with other cards; and with their paltry CLIs it is my lowest limit card other than a couple of cards from when my credit was in the toilet and I haven't sought CLIs since.

Senior Contributor
Posts: 6,144
Registered: ‎04-11-2016

Re: Discover unOfficial Data Points

It has been said in the past that Discover tends to like thinner profiles.  From the looks of your sig, you've got over a half deck of cards in your wallet so it's quite possible that Discover doesn't feel they are all too important on your list and your SL and lack of CLIs could very well be a product of that.

 

Regarding the spend, some have reported getting monster Discover CLIs with very little spend while others have had to spend a good amount.  As with almost any creditor, results seem to be very profile-specific.

Frequent Contributor
Posts: 424
Registered: ‎06-04-2011

Re: Discover unOfficial Data Points


happypill wrote:

What you're saying about spend in relation to CLI is interesting.  I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

 


I had the exact opposite experience.

 

I got my Discover last December.  Since then I have exclusively used it in the 5% (10% with doubling) categories, maxing each out in the first month of the quarter then ignoring the card until the next quarter came around.  Have received 5 CLIs taking me from $4500 to $14500.

 

 

Valued Contributor
Posts: 1,415
Registered: ‎01-09-2015

Re: Discover unOfficial Data Points


Aahz wrote:

happypill wrote:

What you're saying about spend in relation to CLI is interesting.  I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

 


I had the exact opposite experience.

 

I got my Discover last December.  Since then I have exclusively used it in the 5% (10% with doubling) categories, maxing each out in the first month of the quarter then ignoring the card until the next quarter came around.  Have received 5 CLIs taking me from $4500 to $14500.

 

 


Yeah, they've hated me since the beginning when they started me at $800.  I don't know about their processes, but I wonder if I started in their "deplorables" bucket where I'm destined to remain forever.

Senior Contributor
Posts: 6,144
Registered: ‎04-11-2016
0

Re: Discover unOfficial Data Points


happypill wrote:


Yeah, they've hated me since the beginning when they started me at $800.  I don't know about their processes, but I wonder if I started in their "deplorables" bucket where I'm destined to remain forever.


It happens, across all creditors IMO.  Same thing happened with me with Capital One.  I finally threw my QS card in the SD today after nearing 2 years of having the account open.  They gave me the account when my scores were low and seemingly have held a grudge ever since.  I started with a relatively low SL and received only two $500 CLIs in a year and a half when my scores went up 130-140 points over that time.  Today I was denied a CLI for the first time which was it for me and that card.  Time to move on.

Frequent Contributor
Posts: 273
Registered: ‎09-17-2015
0

Re: Discover unOfficial Data Points


Aahz wrote:

happypill wrote:

What you're saying about spend in relation to CLI is interesting.  I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

 


I had the exact opposite experience.

 

I got my Discover last December.  Since then I have exclusively used it in the 5% (10% with doubling) categories, maxing each out in the first month of the quarter then ignoring the card until the next quarter came around.  Have received 5 CLIs taking me from $4500 to $14500.

 

 


Well i have to agree with you, started with $1000 SL, after 13 months and over 30K in spending my card is at $11,900, and just got approved for the second card with $5000 SL, one time a put my card to the limit and i needed more, asked for CLI and i got $500 more, both CLI were SP and within the same month, in my case it was general spending.

 

 

 

 

Valued Contributor
Posts: 1,609
Registered: ‎04-26-2014

Re: Discover unOfficial Data Points

[ Edited ]

I got my discover card in October 2015 my data points are listed below:

 

EQ Fico at approval 675 SL 7000 rate 10.25 -  2 Inq. not counting Discover

 

My file was thin at the time of approval. I only had First Premiere 900 CL, Credit one card 2K CL, Capital one card 3K CL, AU on 3 other cards CL from 10-12K and had just got 2 other Cap1 cards approved in September

 

CLI 2/15/2016 - 500.00 Instant. - 7500 used a lot highest balance 3500

CLI 5/23/2016 - 1500 instant - 9000 used a lot and did a balance transfer to it highest balance 7000

CLI requested 6/25 denied instant Not enough exp with current limit. heavy use balance 5000

CLI requested 7/25 denied instant Not enough exp with current limit heavy use balance 3000

CLI 9/24/2016 4000 instant - 13000 heavy use balance 9000

CLI 11/23/2016 - 6500 2 day message I logged in and saw it - 19500 balance currenly 600

CLI 12/23/2016 - denied instant, letter stated not enough time wih current limit.

CLI 1/4/2017 - 2 day message, logged in 1/7 went form 19.5K to 26K balance 800.00 statement to cut 1/9 paid down to 200.00 1/7.

 

I used the card often, my one year double cash back was 1400ish. I never took the cash out until the one year doubling. I let the balance report for the month then paid it off. Now that the double cash back is over for me. I will change cards and not use it as much. I will keep the balance low around 300-400 to see what CLI's I get in the next 6 months, I think I'll try every two months.

 

It has grown nicely in the last 12 months. My cash advance limit is only 1300, not that I ever use it. I just thought I would mention that is has always been low only 10% of my limits each time.

 

 

BK13 Filed 7/10-DC 8/15 // Fico 8's TU 753/ EQ 763/EX 769 6/17// AAoA 5.8 years // Lines 6/2017= 197K // Inquiries 7-7-7 BK now off all all reports....WE CLOSED ON OUR HOUSE 6/7/2017 long hard road, but we made it !!!

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