Credit Limit Disparity - Dillards

[Wovenyarn]

I applied to Dillards because I wanted the Amex but I was only approved for the store card. The card came yesterday and said that I had a $500 limit.  I was just going to go ahead and close it because the limit is so low and I'll never shop at Dillards.  I checked CCT today and it shows the limit as $1400.  I'm not sure why the limit is different on my CR vs what they sent me in the mail.

Would you cancel the card or just SD it?  Any ideas on why the limits are different?

[OmarGB9]

No idea why the limits would be different. You could call and find out about that or set up your online account access and see what it says there. As far as closing it, well that's entirely up to you, but closing an account right after opening it doesn't look good on your report upon manual review. Remember it'll stay on for 10 years after closing. I'd say SD it for now and close it later down the line.

[Pway]

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@OmarGB9 wrote:
No idea why the limits would be different. You could call and find out about that or set up your online account access and see what it says there. As far as closing it, well that's entirely up to you, but closing an account right after opening it doesn't look good on your report upon manual review. Remember it'll stay on for 10 years after closing. I'd say SD it for now and close it later down the line.

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Agreed, although you opened this card for a reason.  You took the hp for it, why close it?

[Wovenyarn]

Thank you both for your responses.

[Anonymous]

I would keep it.I apped in store and got a $1600 store card limit. Just link your card on line and see what it says. The receipt the clerk gave you should show the $1400 limit. Call if there is a discrepancy. 

Their big New Years Day 50% off all previously reduced items sale is coming. Card should be useful then.

[Anonymous]

Don't waste a HP by closing the account. Just put it away, and when you might use it, it'll be there. Get some benefir from it by building a history. 

[Kevin86475391]

My advice would be to keep the card and to call and get clarification of the limit. Even if it is only $500, I'd wait at least 6-12 months before closing it. Really though, if it's a store card, they'll probably close it themselves for inactivity if you just leave it alone (but monitor it for fraud just in case).

Also, if you're more interested in getting an Amex card rather than a Dillard's card, why not just apply directly? The Dillard's card is probably easier to get, but as you've seen no guarantee you'll get the Amex version, and I'd say in general it's good to assume that store cards will have a relatively low limit, at least compared to non-store cards. Just my two cents though.

[taxi818]

If i closed every card that gave me crappy limit i would not have any right now. I can't think of a single card out of 27 that i was happy with the Starting limit. Even my Poor Macys store card started out with $300 bucks. To say it sucked is an understatement. However. I realized i could make it grow regardless of starting limit.

My macys is currently at 12k. and i have Macys Amex at 3k. My walmart started at $600. Currently 10k. That is the point to let it age and it will grow. If you do not shop there ever then by all means close it. but i never would have apped for it if i knew i would never ever shop at a place even if just once a year. I must say Dillards is kind of on the expensive side. I saw a few $400 dollar wallets over there. Yikes.