Discover Double Cash CLI

bed · ‎06-20-2015

I just requested the double cash offer on the last day of my last statement. A few days later, I received an email from Discover saying I was getting a CLI. It was just over a 30% increase. Has anyone else found they were given a CLI after signing up for this promotion? I'm wondering if Discover isn't trying to increase spending power, in hopes that people will end up in debt, having to pay a lot of interest as a result of the promotion. It could potentially be a good way fr them to make their money back and then some. Just thought it was interesting that I rarely get CLIs and I just happen to get my biggest one ever from them right after signing up.

SOGGIE · ‎06-20-2015

Congrats! I think I'll sign up for that offer.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben

Kenny · ‎06-20-2015

I think it was a coincidence. That's some conspiracy theory though!

Take the myFICO Fitness Challenge

bed · ‎06-20-2015

@Kenny wrote:
I think it was a coincidence. That's some conspiracy theory though!

You're probably right. I mean, I do use the card a lot and pay it off each month. It is quite a coincidence though.

Anonymous · ‎06-20-2015

Ha i wish! Signed up and got denied a cli all in one chat 😉

Kenny · ‎06-20-2015

@bed wrote:
@Kenny wrote:
I think it was a coincidence. That's some conspiracy theory though!
You're probably right. I mean, I do use the card a lot and pay it off each month. It is quite a coincidence though.

Definitely think it has more to do with your using the card a good bit and PIF more than anything.

Take the myFICO Fitness Challenge

Kostya1992 · ‎06-20-2015

Can someone enlighten me here or is this how it works?

1. Discover buys an espensive insurance package

2. Discover starts throwing money at people, offering some amazing promotions

3. Promotion ends, variable APR kicks in, APR ticks for a few months or years and person defaults on Discover, unable to pay

4. Discover files an insurance claim, getting the full apr-inflated balace paid back to them by insurance, having already profitted from swipe fees + previous payments

5. Discover sells account to collection agency, making even more $$$$

Am I missing anything?

TU08 FICO	850
EX08 FICO	850
EQ08 FICO	850

bed · ‎06-20-2015

@Kostya1992 wrote:
Can someone enlighten me here or is this how it works?

1. Discover buys an espensive insurance package
2. Discover starts throwing money at people, offering some amazing promotions
3. Promotion ends, variable APR kicks in, APR ticks for a few months or years and person defaults on Discover, unable to pay
4. Discover files an insurance claim, getting the full apr-inflated balace paid back to them by insurance, having already profitted from swipe fees + previous payments
5. Discover sells account to collection agency, making even more $$$$

Am I missing anything?

I seriously doubt they could recoup the entire balance from insurance and then sell the debt on assignment; though, I have no idea how these things work behind the scenes. I would assume that once the balane is paid, by whomever, then it can't be collected further.

Kenny · ‎06-23-2015

The real answer is this: Discover will still make money. We are a limited clientele that know of this offer. They make money off of sheeple. (You know I have a card, but i have no idea what it does kind of people.)

Take the myFICO Fitness Challenge

kdm31091 · ‎06-23-2015

Right. There are plenty of people who won't even know of the offer or use it.