@alexl22 wrote:He absolutly did not say "categorically that our personal qualification were the ONLY things that counted". He stated that "CLI's are always based on what one's credit and income qualify for" which is exactly true. Where did he say they are the only thing figured in?
In addition to this, I think maybe what he meant is that CLIs are always based on income and credit according to the lender. Some lenders may be more generous than others with CLs based on credit and income than others. That's why not every CL is the same across the board for us. I got approved for $3500 Chase Freedom; if I apply for a Comenity Express card, I highly doubt I will get $3500 (maybe like $500). My credit and income are both better now than when I got Freedom but that doesn't mean I will get the same CL with a different bank.
Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500
@Gunnar419 wrote:
@takeshi74 wrote:Like every other bandwagon popular on this site (CO, NASA, OCCU, etc) it has come and gone. CLI's are always based on what one's credit and income qualify for. If you want CLI's then get to work on the concerns that your creditors have with your credit instead of relying on quick fixes.
First of all, I don't see any implication that anybody in this thread is all hot for "quick fixes." Seems to me that this is a light hearted thread about Discover having gone back to being conservative after a wild spell that many of us benefitted from. You could benefit by lightening up and not being so judgemental, takeshi.
As to the part of your statement that I highlighted in red, that's just not true. IF CLIs were always based on "what one's credit and income qualify for," then we'd all get (or not get) similar CLIs from every lender. In reality, CLIs and CLs are all over the place because it's as much about lender policy as it is about us. We've got lenders who are known for triple CLIs and other lenders known for being about as generous as Ebeneezer Scrooge and their actions are only partly related to our personal qualifications for credit.
Discover recently gave some of us a fun ride. It's not surprising if people are sorry the merry go round stopped!
**Cough** USAA **Cough Cough** 
@Gunnar419 wrote:
@alexl22 wrote:He absolutly did not say "categorically that our personal qualification were the ONLY things that counted". He stated that "CLI's are always based on what one's credit and income qualify for" which is exactly true. Where did he say they are the only thing figured in?
You are correct that Takeshi didn't make it an explicitly categorical statement.
Nevertheless, I stand by my point that the policies of cccs have as much to do with it as our individual qualifications do. I'm guessing the OP would be relieved if we all lightened up now.
You made good points Gunnar; an individual lender's stance based on their current view of the economy and how much they wish to develop their CC portfolio is often more important than anything else when it comes to limits. Yes there are product limitations based on underwriting guidelines of the time which include both score, income, and other factors; however, we can find all sorts of examples where a lender changed their policies, and overnight on the forums became more popular and in many cases this was from improved limit granting.
Just going through a short list of non-trivial lenders over time:
1) Amex / Chase dropping their UW guidelines across the board in mid-2012
2) Capital One, two years ago would anyone have ever thought they'd be offering 10-50K lines this readily?
3) Penfed, I got a 20K PLOC from them, highest limit reported was 9K, and seriously my file ain't that pretty and this is Penfed we're talking about?!? That's a serious change which only happened in the last six months or so, maybe beginning of this year... and out of any of the lenders that have gotten traction over time on this forum, I would suggest historically they've been far and away the most conservative of the lot.
Other than Cap 1 I could argue none of these have been FOTM worthy based on the responses on the forum (though I think if someone were to datamine we'd see a marked increase in the number of Amex and Chase approvals from reports here from that date onward, probably applies to Penfed too).
Yeah end of the day there's a limit with any individual lender both with their individual exposure to a consumer, and their wariness about a consumer's overall exposure, and these are income based to some degree, but those limits are a lot higher than most of us would rationally expect.
Eventually we'll have another economic crisis within our lifetimes, and our limits will be slashed, and then we get to do this all over again. Isn't credit fun? 
Re " He stated that "CLI's are always based on what one's credit and income qualify for"" I really do not agree with that statement as the credit game is very subjective. An example. My hshld income is approx 120k yrly. When I applied for the CO Venture card I got a 20 k limit. When I applied for the BOA rewards card I got a $500 limit. FICO scores almost the same for both apps. CO is not nearly as conservative (at this moment) as BOA is. One's CL is determined in part to your score, your overall profile and the lender (whom you are applying with) UW standards. These standards are subject to change depending on current econmic climate, lenders profit / loss margins and many other factors. You also have to remember that a lot of people overstate their income because most creditors do not ask for income verification. I have never been asked for income verification (Credit Card App) and my credit hx goes back 30 yrs. The credit card Game is just that a Game with constantly changing rules. No need to take it too seriously though, because if you are too rigid in your thinking, you will ultimately be disappointed. Have some fun!
@Anonymous wrote:
@Gunnar419 wrote:
@takeshi74 wrote:Like every other bandwagon popular on this site (CO, NASA, OCCU, etc) it has come and gone. CLI's are always based on what one's credit and income qualify for. If you want CLI's then get to work on the concerns that your creditors have with your credit instead of relying on quick fixes.
First of all, I don't see any implication that anybody in this thread is all hot for "quick fixes." Seems to me that this is a light hearted thread about Discover having gone back to being conservative after a wild spell that many of us benefitted from. You could benefit by lightening up and not being so judgemental, takeshi.
As to the part of your statement that I highlighted in red, that's just not true. IF CLIs were always based on "what one's credit and income qualify for," then we'd all get (or not get) similar CLIs from every lender. In reality, CLIs and CLs are all over the place because it's as much about lender policy as it is about us. We've got lenders who are known for triple CLIs and other lenders known for being about as generous as Ebeneezer Scrooge and their actions are only partly related to our personal qualifications for credit.
Discover recently gave some of us a fun ride. It's not surprising if people are sorry the merry go round stopped!
**Cough** USAA **Cough Cough**
LOL, my sis has insurance through them, but never a credit product.
@Imperfectfuture wrote:
@Anonymous wrote:
@Gunnar419 wrote:
@takeshi74 wrote:Like every other bandwagon popular on this site (CO, NASA, OCCU, etc) it has come and gone. CLI's are always based on what one's credit and income qualify for. If you want CLI's then get to work on the concerns that your creditors have with your credit instead of relying on quick fixes.
First of all, I don't see any implication that anybody in this thread is all hot for "quick fixes." Seems to me that this is a light hearted thread about Discover having gone back to being conservative after a wild spell that many of us benefitted from. You could benefit by lightening up and not being so judgemental, takeshi.
As to the part of your statement that I highlighted in red, that's just not true. IF CLIs were always based on "what one's credit and income qualify for," then we'd all get (or not get) similar CLIs from every lender. In reality, CLIs and CLs are all over the place because it's as much about lender policy as it is about us. We've got lenders who are known for triple CLIs and other lenders known for being about as generous as Ebeneezer Scrooge and their actions are only partly related to our personal qualifications for credit.
Discover recently gave some of us a fun ride. It's not surprising if people are sorry the merry go round stopped!
**Cough** USAA **Cough Cough**
LOL, my sis has insurance through them, but never a credit product.
I hear a lot a good things about their insurance, but they simply cant beat GEICO when it comes down to car insurance for me, but then, no one can apparently. Also, their credit products are just too behind the times to be worried about anymore.
The truth about USAA in my experience is that they seem to favor those who use them as their primary bank and use many of their other products. I never have aside from a CC, and thus, they dont love me. 
