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Frequent Contributor
Posts: 301
Registered: ‎08-03-2013
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769 Fico - Discover gave me $500 lol

Hi Guys

 

So i contacted Discover, mentioned that I have new credit cards with $4k - $5k limits and asked them to consider raising my cl in line with my new cards.

 

My online app took about 3 days to process - and they raised me to $1750 - yay ;(

 

I contacted CS by email and was talking to her for about 3 or 4 days - I ended up (probably sarcastically) "apologising" for even asking - and told her that I wouldn't bother her again

 

I also pointed out that i make multiple payments a month to them (I have paid them over $6000 in the last 5 months) so the repayment wouldnt be a problem

 

She responded that i should NEVER be afraid to contact them - and gave me the telephone number of one of the credit analysts to speak to them directly.

 

The think that is sticking in my throat, is that it was a hard pull - just to get a $500 CLi - I guess i have nothing left to lose by contacting the Analyst? - They have already done the pull!

 

Today, I received official written conf that they wouldn't raise me to $4k - because i have shown no experience of using such a high CL! - It also quoted my Fico as 769

 

(Same lack of experience as I had with US bank who gave me $5k, Freedom gave me $4.5k, Simplicity gave me $4.5k and Amex $4k)

 

I don't know whether to push for a CLI (that i don't need) - or just sock drawer my Discover Card altogether? - confusing, as I have been a "perfect" customer of theirs - NEVER any lates or baddies etc - I had considered telling them to use their card as a 4 cornered suppository - and to stick it where the sun don't shine! - but i guess it is helping my AAoA (my 2nd olders account)

 

If you have a 0 balance and sock drawer a card - what or how do they report to the bureaus?

 

Thanks all Smiley Wink


Amex BCE - Chase Slate - Citi Diamond Preferred - Citi Double Cash - Discover IT - US Bank Select Perks

Target Of 780 Reached + Onward and Upward Smiley Wink

Regular Contributor
Posts: 131
Registered: ‎08-27-2013
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Re: 769 Fico - Discover gave me $500 lol

From my experience they report "Pays as agreed" with you balence of 0.

Established Contributor
Posts: 622
Registered: ‎01-04-2009
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Re: 769 Fico - Discover gave me $500 lol

[ Edited ]

How long have you had your other cards' limits around 4-5K?

Epic Contributor
Posts: 25,210
Registered: ‎10-23-2007
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Re: 769 Fico - Discover gave me $500 lol

Discover is always known to be VERY slow and low on CL's compared to others... What is frustrating is sometimes you then see someone with mid 600's and past baddies etc. get $6k+... my partner was given $4500 with mid 700's.  I have seen some recent success from people escalating to EO or something demanding a review for higher limits because of much much higher limits with others.

But based on how Discover seems to lend if you are fairly new in credit market and just recently got the $4-5k lines, you might want to give it another 6 months... but they recently changed policy to allow SP CLI every 90 days... so just keep using and hit them back... if in 6 months you have to take another HP and don't get up to your other CL's after a lot more use then I might boil over... but just 6 months in... give it more time.

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Frequent Contributor
Posts: 301
Registered: ‎08-03-2013
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Re: 769 Fico - Discover gave me $500 lol

Hi - thanks for the comments - I have had the card for about 14 months in total - NEVER went over about 40% util - and ALWAYS paid in full - I guess now that the 0% intro is over or at least, soon will be - there is very little reason to keep the card in my wallet - well ok, maybe it can stay there - but it'll be behind my better cards lol


Amex BCE - Chase Slate - Citi Diamond Preferred - Citi Double Cash - Discover IT - US Bank Select Perks

Target Of 780 Reached + Onward and Upward Smiley Wink

Epic Contributor
Posts: 25,210
Registered: ‎10-23-2007
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Re: 769 Fico - Discover gave me $500 lol


chrisw1968uk wrote:

Hi - thanks for the comments - I have had the card for about 14 months in total - NEVER went over about 40% util - and ALWAYS paid in full - I guess now that the 0% intro is over or at least, soon will be - there is very little reason to keep the card in my wallet - well ok, maybe it can stay there - but it'll be behind my better cards lol


5% on gas through this month I would continue to use it.

Then Oct-Dec. is going to online including Amazon... which Chase is also... Id just use your Discover and give it a try for the 90 day sp in Dec.... they might be little generours around the holidays!

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Valued Contributor
Posts: 8,705
Registered: ‎10-21-2012
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Re: 769 Fico - Discover gave me $500 lol

[ Edited ]

Sounds like Discover made the right call from an underwriting and risk perspective.  More than likely you may have read some posts on here and what has been known about Discover as far as being a very conservative lender.  They are not Chase, AMEX or Citi.  Did you need the CLI?  Perhaps not.  Do you have other cards that meet those spending requirements?  Perhaps. 

 

Admittedly you have opened some new accounts and although FICO is one component, your history with Discover and combination of the others hasn't been that long, regardless if you have put a lot of usage in that short period.  With Discover, you need patience.  That being said, they can grow but IMO, I think the timing was off.  Usually, thicker/established files along with similar scores (or higher) tend to have positive results or higher CLIs with either SP or HP.

Senior Contributor
Posts: 3,696
Registered: ‎01-10-2008
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Re: 769 Fico - Discover gave me $500 lol


FinStar wrote:

Sounds like Discover made the right call from an underwriting and risk perspective.  More than likely you may have read some posts on here and what has been known about Discover as far as being a very conservative lender.  They are not Chase, AMEX or Citi. Did you need the CLI?  Perhaps not.  Do you have other cards that meet those spending requirements?  Perhaps. 

 

Admittedly you have opened some new accounts and although FICO is one component, your history with Discover and combination of the others hasn't been that long, regardless if you have put a lot of usage in that short period.  With Discover, you need patience.  That 

 

being said, they can grow but IMO, I think the timing was off.  Usually, thicker/established files along with similar scores (or higher) tend to have positive results or higher CLIs with either SP or HP.


+1

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
Posts: 6,276
Registered: ‎08-16-2012
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Re: 769 Fico - Discover gave me $500 lol

Discover is a slow grower ime, and it's something we have to live with.
While my avg cl is $10k, Discover started me at $4k inOct 2012, six months later- got an auto cli to $4750, three months later, I got an auto cli to $5000. Not too bad, but not the best eh...
But if I get $250 clis quarterly over the span of 2,3,4, 5 or even ten years...
I could end up with a nice cl :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Posts: 1,994
Registered: ‎01-24-2012
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Re: 769 Fico - Discover gave me $500 lol

Credit scores are not what determine credit limits; too often on here people seem to think that. I had 776 when Discover approved me for 1000. I had around 750's when Chase appproved for 25000 and arond 700 when they approved for 17000. What's on the report is more important than the score and if you have opened up a bunch of new accounts that is definitely going to give a lender pause to give you a high limit.

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