@Anonymous wrote:
@Anonymous wrote:
Let me see if I understand this within the context of gaining CLI's at Discover. The goal is to ask only once in 2-3 months and not asking frequently, correct? Is that what I have been doing wrong is asking too often within the 2-3 month space of time?
I don't know if asking matters much. My wife requested a CLI every month for a while and they approved it usualluy after 31 days, somtimes not. They almost always did after 91 days. She did put large purchases and PIF every month. I think they really like that
What I found is that taking the every other month approach is more productive than requesting more frequently. Although it doesn't hurt to ask more often it just isn't as productive in the amount of the increases.
When requesting more often I was seeing 3-4K/increase which was coming out to 18-24K/yr in increases.
When requesting less often it boosted the amount to 6K which would be 36K/yr in increases.
While everything is different for everyone sometimes less is more when working on bringing up the limit with Disco. Some people from other posts I've suggested a couple of tweaks to the use / CLI pattern have seen more success. For instance in 2016 I spent just shy of 5K on the card and got 29.6K in CLI's and that's almost 5X the amount spent. Some spend 20K in 6 mo's and only bump up $1500. My simple formula has been putting a couple of recurring bills on the card each month and setting it to autopay and forgetting about it other than setting reminders to hit the CLI button. My first year post shows my attempts trying to figure out the timing with Disco with various results depending on timing in a detailed format.
http://ficoforums.myfico.com/t5/Credit-Cards/My-first-year-with-Discover-Data-Points/m-p/4705523
For instance I requested 8/1 10/1 12/1 and now 2/1 and all 4 were successful in comparison to when I was trying to time things out it was more sporadic like a hit 6 weeks or 3 months in between. Trying every other month gives them time enough to report the updated CL and see additional payment / use history which for my profile seems to be enough for them. If you're getting denied at 75 days try 90. If you're hitting on 31 days then that's great too but, spacing things out more might result in more significant rises. There's a sweet spot for each account and you just have to try to figure it out. Another user hits the button on the 9th of every month in the hopes of an auto cli each month and had been getting 2-3K/increase and the last one was only $500.
There are just a lot of variables from person to person and it takes time to get to know each other to find that magic solution.
