Auto Discover CLI!

[creditwherecreditisdue]

It is not totally Discover's fault, but a good part of it is. DIscover is famously slow posting transactions. (That behavior has been well noted here,)

[DI]

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@creditwherecreditisdue wrote:
It is not totally Discover's fault, but a good part of it is. DIscover is famously slow posting transactions. (That behavior has been well noted here,)

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True, but one should know what was charge to the card without it being posted at the speed of light.  

[creditwherecreditisdue]

I have never had an authorization not post right away. It's the charge posting that is delayed.

[tracynva]

I do think this is a delay at Discover (and not the merchant) because my available balance has been decreased by the amount of the charge.  It's just that the balance owed is still 0.  I'm only monitoring it because I want to pay the balance.  They won't let me pay anything more than the current balance...which is still 0. 

It'll only be a problem if my statement closes on the same day the transaction posts...therefore not giving me time to make the payment.  Citi did that to me last month...but I'm becoming more aware of all their tricky ways!

[creditwherecreditisdue]

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@tracynva wrote:

I do think this is a delay at Discover (and not the merchant) because my available balance has been decreased by the amount of the charge.  It's just that the balance owed is still 0.  I'm only monitoring it because I want to pay the balance.  They won't let me pay anything more than the current balance...which is still 0. 

It'll only be a problem if my statement closes on the same day the transaction posts...therefore not giving me time to make the payment.  Citi did that to me last month...but I'm becoming more aware of all their tricky ways!

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And it does happen. It has happened to me and I did not like it. But it is not a "tricky way". It's just the way things fall out.

Meanwhile they may not let you make a payment through their website for more that the current amount due, but you can always push them a payment through a billpay system wherever you have a checking account. That always works and in any amount, including an overpayment!

[GregB]

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@andyaycw wrote:
I have always PIF my Discover card, although I was always very conservative with utilization. Utilization with the card has always been less than 10%. I'd venture a guess that Discover likes to see enough usage of their card, but not over-usage, in justifying rate decreases. In your case, GregB, even with your new $15000 credit line, a $6k balance pegs you at 40% utilization, something Discover might see as too high risk to be offering rate decreases.

I am also a firm believer that the criteria for APR rate decreases and CLIs are different. CLIs might have a higher weight on your spending patterns, whereas APRs might be based on perceived risk. In your case, GregB, you may have gotten the CLI to $15k as a result of your heavy spending on the card. On the other hand, your heavy spending on the card may have pegged you at too high of a risk to justify a lower APR.

In regards to heavy spending yielding CLIs, I should say though that it's not a requirement - at least not with Discover. I have spent no more than $10 in the past three months on my Discover More card, and yet that small usage was enough for them to justify giving me an unsolicited, unrequested $250 CLI from $3750 to $4000. Small CLI, I know, but a CLI nonetheless.

Of course I'm no expert, and the above is just my interpretation and my speculation. GregB, you make a good point though: in this climate, issuers may not be as willing to offer rate decreases as they once were.

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$6018 was a single charge from last month, payment set to PIF 10/22. A new charge last week of $5300 plus some small charges since this is 5% cash back on restaurants. Current balance showing about $12K until the $6018 payment hits in a couple days. Then back to $6K until the next payment is due which will be PIFed. Would have to be a fool to carry a balance at 18%. My point was that payment pattern, which is generating $60-80 cash back each month, should get their attention. I'm simply taking advantage of a vendor that is so anxious for cash flow that they will take a CC instead of cash. The cash back help to pay 20-50% of my restaurant bills for the month. One of the few advantages to owning a business to help balance out all the negatives.

[haulingthescoreup]

Goodness, would you like to take me out to lunch? I generally order from the low end of the menu, but I do like lobster. And filet mignon. And pinot grigio, the more, the merrier.

I'm guessing these are business meals??

[tracynva]

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@creditwherecreditisdue wrote:

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@tracynva wrote:

I do think this is a delay at Discover (and not the merchant) because my available balance has been decreased by the amount of the charge.  It's just that the balance owed is still 0.  I'm only monitoring it because I want to pay the balance.  They won't let me pay anything more than the current balance...which is still 0. 

It'll only be a problem if my statement closes on the same day the transaction posts...therefore not giving me time to make the payment.  Citi did that to me last month...but I'm becoming more aware of all their tricky ways!

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And it does happen. It has happened to me and I did not like it. But it is not a "tricky way". It's just the way things fall out.

Meanwhile they may not let you make a payment through their website for more that the current amount due, but you can always push them a payment through a billpay system wherever you have a checking account. That always works and in any amount, including an overpayment!

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I guess I've had so many "two steps forward two steps back" moments with the CC companies that I start to think they're out to get me. 

I know that some things just happen.  What I really meant was: "I've learned not to use my card in the last week before the statement closes."

But I never thought about direct bill pay through my bank.  It makes sense because the CC company can't limit the amount.  Thanks so much!

[creditwherecreditisdue]

Your welcome!  Best of luck!

[GregB]

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@haulingthescoreup wrote:
Goodness, would you like to take me out to lunch? I generally order from the low end of the menu, but I do like lobster. And filet mignon. And pinot grigio, the more, the merrier.

I'm guessing these are business meals??

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Sorry to burst that brief fantasy about expensive lunches but:

The cash back helps pay my personal restaurant bills for the month which are $100 or so total. These are virtually all with my son, which is because I have zero time with 3 small business and being an almost-full-time single parent. The $6000 and $5300 are the monthly statement for an auto parts vendor for business. Pretty boring, huh?

Probably a good thing I don't have any time or energy left to date since I DO like "lobster. And filet mignon. And pinot grigio, the more, the merrier."

I have to be content to remembering the fabulous meals of the year after separation but before I figured out that I was broke.