Discover Card with Expected High Limit

[Gnut]

I received a discover more with about 2 years of history. when I pulled my reports they were both in the low 700's when i was approved for 3,240.00. This was about 1 year ago and I havent asked or received any increases. I had most of my cards maxed out for a while so im sure thats why they didnt auto cli my card, and I didnt want to take a chance so I never called them but since I just paid nearly all my debt off im waiting till that reports and I may hit the luv button. my AAoA then was 1 year, and income was about 30K a year.

[Anonymous]

Thanks a lot for sharing this information.

[Anonymous]

I have another point that I need help with if any of you is expert with that. Does the addition of Discover to my portfolio of 4 cards (2 Visa, 1 MC and 1 AMEX) affect my score negatively or I am still safe with 5 cards?

Thanks

[DI]

---

@Anonymous wrote:

I have another point that I need help with if any of you is expert with that. Does the addition of Discover to my portfolio of 4 cards (2 Visa, 1 MC and 1 AMEX) affect my score negatively or I am still safe with 5 cards?

Thanks

---

Your AAoA's decreases each time you add new accounts.  Your scores decline when that happen.  I went from a EQ FICO of 767 to 730 after adding 9 new accounts.  The good news is  your AAoA's will rebound.  Once your new account becomes one year old you should see a score increases.   

[haulingthescoreup]

---

oshoair wrote:

I have another point that I need help with if any of you is expert with that. Does the addition of Discover to my portfolio of 4 cards (2 Visa, 1 MC and 1 AMEX) affect my score negatively or I am still safe with 5 cards?

Thanks

---

As DI said, you'll probably see a drop. Just the price of building a good credit portfolio.

I'd stop now, and just let them grow.

Is your wife's $500 CL card a Discover Discover, or is it issued by HSBC? Just checking, because the HSBC Discovers are infamous for low limits that never grow.

[shyboy]

I'm a college student. They started me off with $500 and now im at $1000 after about 6 months. 

[Anonymous]

Oh, yea. I understand your point. It is Discover Discover not from HSBC

[Anonymous]

That is nice to hear. By the way, I see everyonr talking about the Love Button? What is that and does it mean when it appears that you are eligible for an increase of your CL?

[bakalao2k]

I don't know if the LUV button exist with Discover Card, but you can get a CLI by calling the automated system.  You are eligble for increases every six months. 

The LUV button is a feature that allows you to request a CLI online.  Most credit card companies have this feature.

Message Edited by bakalao2k on 03-11-2010 11:33 AM