Close Discover IT?

[L-TWT]

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@NRB525 wrote:

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@L-TWT wrote:

keep it open

some food for thought: I recently opened my Discover It card 01/2015 and was approved with a CL of 30K. I hear discover card is very conservative with regards to CL and CLI, but If I was given this CL anything is possible!

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Congratulations! That is truly a stratospheric Discover limit.

What is the rest of your credit profile? MyFICO scores, other cards you already have?

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Credit Profile:

MyFICO:820+ across all three bureaus (may have lowered since applying)

Credit cards (three total): Citi BC 30K, Amex BCE 20K & Discover IT 30K

[Anonymous]

Discover is one of those people either love or hate.  The amount of CL is directly proportional to that. 

It doesn't have an annual fee, isn't considered subprime like CreditOne or First Premier, has good rewards throughout the year, I say keep it open.  I may get one myself to go with the Freedom since their categories are different throughout the year (Chase doesn't have Gas as 5% this quarter, I wish they did). 

[NRB525]

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@L-TWT wrote:

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@NRB525 wrote:

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@L-TWT wrote:

keep it open

some food for thought: I recently opened my Discover It card 01/2015 and was approved with a CL of 30K. I hear discover card is very conservative with regards to CL and CLI, but If I was given this CL anything is possible!

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Congratulations! That is truly a stratospheric Discover limit.

What is the rest of your credit profile? MyFICO scores, other cards you already have?

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Credit Profile:

MyFICO:820+ across all three bureaus (may have lowered since applying)

Credit cards (three total): Citi BC 30K, Amex BCE 20K & Discover IT 30K

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Ok, so it looks like another data point to confirm Discover likes to be one of a very few cards the cardholder has, and with a higher FICO score, Discover is willing to go with a higher CL.

Thanks for sharing.

[racer-x]

I felt the same about my 2yr old Discover IT.  I was ready to close 'IT' (no pun intended) and BoA that had a $1500 CL at about the same time. 

I too was told to just hang on to them and be patient.

Starting limit was $1875, when I was getting $15k CL's.

A year went by, no CLI's.  I initiated a HP CLI, and got $5k.....6 mos later, I called for another HP CLI, and got $12.9k.

BoA was the same scenario, ended up with a $10.1k CL.

Scores hovered low low 700's throughout those 2 yrs.

-sidenote- Discover recently gave me a 65% CLD. 

[chalupaman]

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@racer-x wrote:

I felt the same about my 2yr old Discover IT.  I was ready to close 'IT' (no pun intended) and BoA that had a $1500 CL at about the same time. 

I too was told to just hang on to them and be patient.

Starting limit was $1875, when I was getting $15k CL's.

A year went by, no CLI's.  I initiated a HP CLI, and got $5k.....6 mos later, I called for another HP CLI, and got $12.9k.

BoA was the same scenario, ended up with a $10.1k CL.

Scores hovered low low 700's throughout those 2 yrs.

-sidenote- Discover recently gave me a 65% CLD. 

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Are you serious? Sounds like they screwed you over after all that work you did for them. I'm surprised you didn't dump them after the huge CLD.

[racer-x]

popa - True story.  Bastids.  They screwed me too when I PIF'd the CLD'd account, by putting an 8 day security hold on my payment which made me miss the statement cut date with the new $0 balance.

I actually called Discover this morning and asked for a mid cylce submission to the CRA's, and with a click of the button it was done....she told me to give it 24 hrs to show up.  Very nice and accommodating CS for what it was worth....still feel like this though...

[montana586]

They are just one of those lenders that are slow to increase your line. I started out last may with $3500 and have received two sp cli's every 90 days.. first one was for $500 and the second one for $250 should be due for another one this month. Each time I made big purchases and took a couple months to pay the balance down with big chunks $500 or more at a time

[NRB525]

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@racer-x wrote:

popa - True story.  Bastids.  They screwed me too when I PIF'd the CLD'd account, by putting an 8 day security hold on my payment which made me miss the statement cut date with the new $0 balance.

I actually called Discover this morning and asked for a mid cylce submission to the CRA's, and with a click of the button it was done....she told me to give it 24 hrs to show up.  Very nice and accommodating CS for what it was worth....still feel like this though...

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CLD is never fun, sorry to hear that. I've gone through that on several cards in the past.

What is the rest of your credit profile? Cards open? MyFICO Scores? new cards aquired?

[Anonymous]

For every argument that Discover doesn't give much CLI love, I counter with this. Chase is even more stingy with CLI. And they won't modify your APR either.

[Repo-ed]

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@Anonymous wrote:
Do you use the rotating categories?

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I did all last year.

But this year I likely will not be.

I'm working on min. spend on my BoA 1-2-3 (which I've now met) for $100 statement credit.

Just shy of completing my min spend for my Chase Freedom for another $100 credit.

Next I'll begin working on my SWA Visa spend.

So in short, at least in the near future, I will not have a need for it.  That being said, I've 1000% have enjoyed discover and their customer service.  If having a OPEN low CL card is not a negative factor on my profile, I just assume leave it be.

If it's viewed negatively, then I need to close it and try again in the future for a shot at a higher CL. The FICO score they presently show for me is 759.