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BAM! Discover IT sockdrawered!

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AndySoCal
Valued Contributor

Re: BAM! Discover IT sockdrawered!

There is nothing in the FICO scoring model related to credit limits the higher the credit limit help the scoree and lower credit limits hurt the score.  What does mattert is how use and manage your credit.

FICO Scores XPN v8 802 V2 831 (SDFCU) TUC 803 v8 EFX 807 (10/2023)
Discover 09/90 19,000, JCPenney 10/2008 4,700 US Bank Cash+ 12,000 Citibank Custom Cash 5/2015 11,100 C State Dept. FCU 15,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 Banking: Ally Bank Credit Unions: Lafayette FCU Quorum FCU State Department FCU State Department FCU Pelican State CU Redstone FCU

Message 41 of 59
enharu
Super Contributor

Re: BAM! Discover IT sockdrawered!

best of luck with the CLI young!!!!

since they pull TU, definitely go for it!!!! Smiley Very Happy

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 42 of 59
youngandcreditwrthy
Senior Contributor

Re: BAM! Discover IT sockdrawered!

Okay people...
FACT:
Utilization(credit used/credit limit) does affect your score....
So theoretically, if I want to keep util at 10% with a $4k limit card, I can only let $400 report on my statement, unless I want to go through the hassle of paying prior to statement date.
I'd rather have a higher limit that allows me to charge $1000+ comfortably, without having to worry about a FICO drop due to util "reported"
So spare me the "low credit limits don't hurt your FICO"
When looked at on the above basis, they CAN and DO!
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
Message 43 of 59
Open123
Super Contributor

Re: BAM! Discover IT sockdrawered!

This quarter, no harm in SD'ing Discover.  

 

I'm sure there are tons SD'ing them en masse with the lone "home improvement" category.  Since you use Amex, just go through shopdiscover.com and use your Amex card.  You get the cashback posted on discover all the same.

Message 44 of 59
webhopper
Moderator Emeritus

Re: BAM! Discover IT sockdrawered!

I like home improvement but I get a better reward by using my Amex,  7% back. 

 

5% is a dicount and 2% is rewards

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 45 of 59
youngandcreditwrthy
Senior Contributor

Re: BAM! Discover IT sockdrawered! UPDATED

Hahaha!
Thanks naysayers!
I just checked my online thing one more time.
I got an auto cli from 4000 to 4750!!!!
Yayuh!!! Looks like Discover does love me :-)
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
Message 46 of 59
LS2982
Mega Contributor

Re: BAM! Discover IT sockdrawered!

You better change that thread title!!! Lmao



EQ FICO 548 3/3/16
Message 47 of 59
09Lexie
Moderator Emerita

Re: BAM! Discover IT sockdrawered!

Message 48 of 59
CreditCrusader
Valued Contributor

Re: BAM! Discover IT sockdrawered! UPDATED


@youngandcreditwrthy wrote:
Hahaha!
Thanks naysayers!
I just checked my online thing one more time.
I got an auto cli from 4000 to 4750!!!!
Yayuh!!! Looks like Discover does love me :-)

I have to tell you, my young friend: In spite of what you may think, these people LOVE you. They are giving you VERY generous limits compared to others I have read on here with comparable credit files. And what's more, they tend to jack up the limits when you use the heck out of the card.

 

My advice would be to use and pay off this card HEAVILY. You might be surprised at how the limit jumps...without the HP Smiley Happy

 

In my wallet: Apple $5,000, local CU $15,000, Bread AMEX $5,000. In my sock drawer: A few other cards Smiley Happy

Current scores (EQ, EX, TU): 787, 788, 796
Message 49 of 59
OwNt
New Contributor

Re: BAM! Discover IT sockdrawered! UPDATED

Discover can be more conservative in comparison to other large lenders, which isn't a secret. To expect a CLI up to GE limits with a soft pull is misguided.  

 

In my experience:

GE = Soft pull and 15k CLI.

Discover = Hard pull with income verification, 5k CLI.

 

Regardless, congratulations on your automatic increase.

~~Credit Cards~~
Alliant Platinum Rewards Visa, AmEx BCP, BofA Power Rewards, Bank of the West Platinum, Barclay Rewards World MC, Chase Freedom/Chase Sapphire Preferred, Citi Thank You Preferred/Citi Dividend Select, Discover IT, FNBOmaha, Paypal MC, US Bank Cash+/US Bank Perks+.

Total: $300,000+ in lines.
Message 50 of 59
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