Discover CLI

[LionLaw]

I've had a Discover More card since 2001.  I used to have a $3,000 CL, but when Chase reported a charge-off on my CC with them in 2010, Discover quickly cut my CL to $500.  I haven't missed a payment on this card in at least 7 years (I was 30 days late once or twice before that though), and while I use the card a little every month, I haven't had a statement balance of more than $150 in at least a year, and I pay in full every month.  Now that I'm rebuilding my credit, I'd like to get a CLI to at least $1000, but when I recently requested one, I was denied (they only did a soft pull on my CR).  Does anyone have any advice on getting a CLI from Discover?

[AndySoCal]

How recent is the Charge off from Chase?

[LionLaw]

June 2010; however, I recently got the whole TL deleted from my CR.

[Anonymous]

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@LionLaw wrote:

Does anyone have any advice on getting a CLI from Discover?

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I think once your FICO® scores get closer to the 700s you will be able to get a CLI from Discover.  You've got a little bit more building to do.

I wish you the best! 

[AndySoCal]

Before asking for a CLI make sure the trade line is off all your credit reports.  Also make sure you have no other recent negative items on yuour credit report.

[LionLaw]

AndySoCal:  The TL is off, but I don't think Discover will see it for a while without a hard pull (in the explanation they mailed me for my declined request, they were basing their decision off of a CR from March or April).  I haven't had any new baddies since Sept 2011.

Discernment: thanks for the insight.  When I get my util under 10% across all cards next month, I am hoping to get my score up from its current 648 to 660 or so (maybe higher if I'm lucky).  I'm looking to open another card or two in the next couple months for the sake of building my credit long-term (see here for my thread on that), but once those apps are out, it's just a matter of time and gardening before I get to 700.

[Anonymous]

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@LionLaw wrote:

I haven't had any new baddies since Sept 2011.

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That's not even a year ago!  

Yeah, you've still got a lot of work to do before you can move on to anything else.  I'm not sure you will be approved for anything that you app for.