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Contributor
mmmmmm
Posts: 156
Registered: ‎06-01-2012

Re: Can't request a CLI if you're under 21.

[ Edited ]

Just for clarification: Those saying they have gotten CLIs from Discover or other CCCs in the past has no relevance to this discussion.  After speaking with several CSRs at Discover, this is apparently a very new regulation they have to follow.  If you received a CLI a month ago, great, but that doesn't add anything to this thread.

 

I spoke with numerous phone and chat reps and all gave me identical answers (not copy and paste responses), which leads me to believe this is real and accurate and not just one CSR not having a clue.

 

If you're under 21 and want to open a new account, you have to apply via a paper mail app or online for Discover.  You cannot app over the phone.

 

If you're under 21 and want a CLI, you have to submit your request in writing, period.

 

If you're over 21, you can do either of the two above without any restrictions, online, phone, mail, etc.

 

EDIT: Please note other CCCs may be different.  Apparently Discover said "written request" can encompass online requests, however, for them supposedly, they online CLI request option doesn't fall under that, so currently they cannot offer it.  Other CCCs may fulfill the written requirement and still allow those under 21 to submit a CLI request online.  You cannot do them over the phone though.

 

If you want to test, call Discover or any other CCC if you're under 21 and ask for a CLI, they'll tell you they can't do it over the phone.

New Contributor
mrcrush20
Posts: 113
Registered: ‎05-06-2012

Re: Can't request a CLI if you're under 21.

Wow I have never seen this one... So you can fight for your country, die for your country ? Can't drink a beer ? Or ask for a CLI ?

 

the means by which that are asking people under 21 to do this is kinda idk 1990's I am sure in no time they will reword the online CLI to become written request tho... All online apps for new credit ARE written request ...

 

Laissez-faire 

 

I don't think the government should be doing this... Well I can agree I think some CCC can pray on ALL card members. They don't hurt people... Or young people, young people hurt them self. Knowing that just BC your CL is 10,000 and knowing what you can pay back or 1000 for that matter.  CCC offer a chance to all of us to build something to help us get more favorable terms or larger and larger purchases cars and homes... If the government wants to limit the risk of young people make a course in school about credit and apply it nation wide... I mean I think having younger people JUST read the forums here would BE much more effective then just limited CLI to written request. 

 

 






Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012

Re: Can't request a CLI if you're under 21.


jamie123 wrote:

Quit with the free market bs already. We did have the free market and the CC companies destroyed many young peoples credit year after year. They loaned them more money than they could ever repay and many young people had ruined credit for years because of it. That is a fact. That was what happened in the free market.

 

The government isn't stopping you from getting credit, or the amount of credit you get. They are just ensuring that you aren't being preyed upon by the lenders.

 

I kind of like how the free market works in keeping young people off the road though. How do you guys like paying your sky high auto insurance rates?


The truth is none of the credit card companies that lended credit swiped those cards for them. A 50 year old can put themselves into the same debt a 20 year old can. That is what happens when you spend money you do not have the ability to pay back no matter what the circumstance is. But, just because the bank gave you the credit line did not mean you had to max it out. I think we learned in the 2nd grade numbers can go negative if you subtract more than you have.

As for auto insurance, I never minded working a part time job to pay for my auto insurance. It allowed me to make a living, go to school to educate myself, and become an independent adult. I've worked ever since I was 11 years old, saved a lot of money and even ended up purchasing a home because of it at the age of 25 (50% downpayment).

The fact is, people who are responsible with money and credit lines they are given will never have an issue no matter how much credit is given. Those that are not responsible financially... well they dig a deep hole. BUDGET BUDGET BUDGET!!!!!!

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Established Contributor
Jlu
Posts: 569
Registered: ‎06-12-2012

Re: Can't request a CLI if you're under 21.

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New Contributor
MGTR420
Posts: 73
Registered: ‎01-13-2012

Re: Can't request a CLI if you're under 21.

I guess this new "regulation" was put in to place after Saturday.......
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Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012

Re: Can't request a CLI if you're under 21.


MGTR420 wrote:
I guess this new "regulation" was put in to place after Saturday.......

Did you try for another CLI, MGTR?

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
New Contributor
MGTR420
Posts: 73
Registered: ‎01-13-2012

Re: Can't request a CLI if you're under 21.

I called Saturday with a number a chat representative gave me and did a soft pull CLI. Of course it came back needing more information. But again, they allowed me to do it... On the other hand, American Express wouldn't allow me to apply over the phone because I wasnt 21...this was awhile ago.
Amex Zync (NPSL), Chase Sapphire Preferred (5,000), Citi Dividend Platinum Select (7,000), Discover More (5,000), Amex BCP (5,000), TJ Maxx store card (800), Macy's Card (1,500).
Established Contributor
jamie123
Posts: 712
Registered: ‎03-22-2012

Re: Can't request a CLI if you're under 21.

So following your line of reasoning these other things should be allowed:

 

Smoking anywhere you want.

 

Driving without seat belts.

 

Selling cars without air bags or safety standards.

 

Kids riding in cars unrestrained.

 

Driving without insurance.

 

Etc, etc, etc.

 

The government steps in when enough people get hurt and the free market stops working for the best interests of society as a whole.

 

Do we all have to be hurt in an auto accident before the government mandates air bags and seat belts?

 

Finances are the same. Banks and other financial institutions have been regulated since the Great Depression. (Bank Caused) Look what the banks did to us in 2006-2008 with the Great Recession. (Bank Caused.) That's what happens when you loosen their regulations a bit too much. The free market worked real well in 2006-2008 with the banks didn't it? As long as you could breathe you could get a mortgage. Don't you think the entire American economy was affected by banks lending money they shouldn't have?



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Frequent Contributor
OptimasPrime
Posts: 348
Registered: ‎08-17-2012

Re: Can't request a CLI if you're under 21.


jamie123 wrote:

So following your line of reasoning these other things should be allowed:

 

Smoking anywhere you want.

 

Driving without seat belts.

 

Selling cars without air bags or safety standards.

 

Kids riding in cars unrestrained.

 

Driving without insurance.

 

Etc, etc, etc.

 

The government steps in when enough people get hurt and the free market stops working for the best interests of society as a whole.

 

Do we all have to be hurt in an auto accident before the government mandates air bags and seat belts?

 

Finances are the same. Banks and other financial institutions have been regulated since the Great Depression. (Bank Caused) Look what the banks did to us in 2006-2008 with the Great Recession. (Bank Caused.) That's what happens when you loosen their regulations a bit too much. The free market worked real well in 2006-2008 with the banks didn't it? As long as you could breathe you could get a mortgage. Don't you think the entire American economy was affected by banks lending money they shouldn't have?


Please forgive me if this comes off as a bit obtuse, but what does any of the above have to do with not being able to request a cli if one is under the age of 21?

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Established Contributor
jamie123
Posts: 712
Registered: ‎03-22-2012

Re: Can't request a CLI if you're under 21.

Nobody said you couldn't request a CLI. You just have to do it by mail.

 

Do you think somebody might want to put a damper on an impulsive decision by a teenager?

 

How about this scenario?

 

4 students sitting in a dorm trying to figure out where they are going to go out on a Saturday night because they don't have enough money. One of them says, "Hey I'll just try getting a CLI on my card! Bingo it worked! Time to party!" (Wow, that was a bad credit decision.)(Next month...Mom, Dad I need some money!)

 

That scenario will not work now. They will have to plan a little further ahead! A few years ago you didn't have to worry about this happening because nobody could get CLI inside of 60 seconds.

 

Some regulations are put in place to protect society as whole. When students default on their credit cards it affects society as a whole. It is actually very similar to the mortgage crisis the banks lent us into. We did it to ourselves but they were more than happy to sell us the ammunition.



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