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DISCOVER IT 500 LIMIT WHY ME

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Jungook
Regular Contributor

Re: DISCOVER IT 500 LIMIT WHY ME

I have the Discover IT for Students and I have received 2 auto CLIs within the last year. My starting limit was $500 just as yours and I received an auto CLI for $250 for reasons I have forgotten. The second $250 auto CLI was at the one year point and Discover had increased my credit line due to my "outstanding credit management in the first year".

 

Hope this helps.

Message 11 of 33
Lebronjames20
Established Member

Re: DISCOVER IT 500 LIMIT WHY ME

i pay in full alll the time. ahhhh. whats your spending habbits on it?

Message 12 of 33
Jungook
Regular Contributor

Re: DISCOVER IT 500 LIMIT WHY ME


@Lebronjames20 wrote:

i pay in full alll the time. ahhhh. whats your spending habbits on it?


If you were referring to me. The Discover IT was my primary card (as it was my only card at the time) from August 2013 to July 2014. I would pay in full for the first six months but I started to begin leaving a small balance (under 7%) for utilization purposes. In July 2014 I applied for the rest of my cards you see in my signature which has pretty much rendered my Discover IT useless and it has since been sock drawered.

Message 13 of 33
Lebronjames20
Established Member

Re: DISCOVER IT 500 LIMIT WHY ME


@Jungook wrote:

@Lebronjames20 wrote:

i pay in full alll the time. ahhhh. whats your spending habbits on it?


If you were referring to me. The Discover IT was my primary card (as it was my only card at the time) from August 2013 to July 2014. I would pay in full for the first six months but I started to begin leaving a small balance (under 7%) for utilization purposes. In July 2014 I applied for the rest of my cards you see in my signature which has pretty much rendered my Discover IT useless and it has since been sock drawered.


yes you lol. oh i do the same. but why put the discover away? its a great card. 

Message 14 of 33
newhis
Valued Contributor

Re: DISCOVER IT 500 LIMIT WHY ME


@Lebronjames20 wrote:

why wats wrong with the student? and how can i get the regular one then


They don't like CLI with the Student card. My DW it's at 10 statements and no CLI. They say that she can apply for another Discover card. She will wait for a few months to see if they give her something. Freedom went from $500 to $1000 with auto-cli at 5 statements. JCP went from $400 to $900 after 4 months. My Discover went from $1000 to $2500 with SP at 6th statement.

 

The automated phone system told her that they can't increase the limit (no transfer to a credit specialist). Let's see what the letter say.

Message 15 of 33
Lebronjames20
Established Member

Re: DISCOVER IT 500 LIMIT WHY ME


@newhis wrote:

@Lebronjames20 wrote:

why wats wrong with the student? and how can i get the regular one then


They don't like CLI with the Student card. My DW it's at 10 statements and no CLI. They say that she can apply for another Discover card. She will wait for a few months to see if they give her something. Freedom went from $500 to $1000 with auto-cli at 5 statements. JCP went from $400 to $900 after 4 months. My Discover went from $1000 to $2500 with SP at 6th statement.

 

The automated phone system told her that they can't increase the limit (no transfer to a credit specialist). Let's see what the letter say.


wow. that is crazy. was it a soft pull when you called

Message 16 of 33
Jungook
Regular Contributor

Re: DISCOVER IT 500 LIMIT WHY ME


@Lebronjames20 wrote:

@Jungook wrote:

@Lebronjames20 wrote:

i pay in full alll the time. ahhhh. whats your spending habbits on it?


If you were referring to me. The Discover IT was my primary card (as it was my only card at the time) from August 2013 to July 2014. I would pay in full for the first six months but I started to begin leaving a small balance (under 7%) for utilization purposes. In July 2014 I applied for the rest of my cards you see in my signature which has pretty much rendered my Discover IT useless and it has since been sock drawered.


yes you lol. oh i do the same. but why put the discover away? its a great card. 


I only use the Discover for very obscure 5% catagories as my SallieMae already covers the bulk of my spending (gas, groceries, amazon). Any misc. spending will go on the AMEX.

 

If the merchant does not accept AMEX and their product doesn't fall under a 5% catagory, I will use my Freedom card instead as UR points have the potential to be worth much more than 1 cent when transferred to partners (I plan on saving my UR points for when I get another Chase card).

Message 17 of 33
nyancat
Established Contributor

Re: DISCOVER IT 500 LIMIT WHY ME


@Jungook wrote:

@Lebronjames20 wrote:

i pay in full alll the time. ahhhh. whats your spending habbits on it?


If you were referring to me. The Discover IT was my primary card (as it was my only card at the time) from August 2013 to July 2014. I would pay in full for the first six months but I started to begin leaving a small balance (under 7%) for utilization purposes. In July 2014 I applied for the rest of my cards you see in my signature which has pretty much rendered my Discover IT useless and it has since been sock drawered.


Do not leave a balance "for utilization" - all that means is you're paying a fortune in interest for NO REASON, and you look irresponsible and unable to pay your debts in full. Pay in full when the statement cuts if you want it to be shown you're using the card, before if you don't. NEVER EVER EVER EVER EVER don't pay a credit card in full every month (unless it's a 0% interest offer)

American Express Blue Cash Everyday - $11,000; American Express Platinum Cashback Everyday - £3,000; American Express Rewards Credit Card - £7,500; Aqua Reward Mastercard - £3,500; Bank of America Travel Rewards - $5,000; Barclaycard Freedom Rewards - £3,500; Citi Forward - $5,800; Discover It - $10,000; Halifax Clarity - £1,500; HSBC Platinum with Rewards - $5,000, MBNA Everyday Plus - £3,500
Message 18 of 33
Jungook
Regular Contributor

Re: DISCOVER IT 500 LIMIT WHY ME


@nyancat wrote:

@Jungook wrote:

@Lebronjames20 wrote:

i pay in full alll the time. ahhhh. whats your spending habbits on it?


If you were referring to me. The Discover IT was my primary card (as it was my only card at the time) from August 2013 to July 2014. I would pay in full for the first six months but I started to begin leaving a small balance (under 7%) for utilization purposes. In July 2014 I applied for the rest of my cards you see in my signature which has pretty much rendered my Discover IT useless and it has since been sock drawered.


Do not leave a balance "for utilization" - all that means is you're paying a fortune in interest for NO REASON, and you look irresponsible and unable to pay your debts in full. Pay in full when the statement cuts if you want it to be shown you're using the card, before if you don't. NEVER EVER EVER EVER EVER don't pay a credit card in full every month (unless it's a 0% interest offer)


I've never paid a dime in interest and I can still post a balance.

Message 19 of 33
Exonumist
Established Contributor

Re: DISCOVER IT 500 LIMIT WHY ME

So... From my experience starting out with a Discover More Student. Discover loves to see a balance. That does not mean you have to pay interest. You can pay it off after the statement cuts, but it seems like a CLI is less likely if you are paying before the statement. Just keep using the card. Use the website or call in for a cli. The computer WILL tell you if they want to do a HP and let you back out. Jumping from $500 to $2,000 is small in the amount of money, but from a percentage standpoint it's a pretty large increase. Maybe start by just asking them for another $500. If you ask for too much the system will want to do a HP. Having a student card doesn't condemn you to a low limit. You just don't have that much credit. Give it time. It will go up. 

Message 20 of 33
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