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Discover IT. Cut my CL

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Anonymous
Not applicable

Re: Discover IT. Cut my CL

"They can also decrease it if they found that you had fallen behind on payments or charged too much to the card."

 

Are you kidding me? If that's true, then Discover is quite contradicting compared to other banks... They LOVE when you spend like crazy on their cards and make them money from those merchant fees. Why would you decrease someones limit if they are continuously making you money? Pfft, if anything I would extend more credit to the cardholder to give them that "buying power" mentality! 

Message 21 of 29
CreditCuriosity
Moderator Emeritus

Re: Discover IT. Cut my CL


@Anonymous wrote:

"They can also decrease it if they found that you had fallen behind on payments or charged too much to the card."

 

Are you kidding me? If that's true, then Discover is quite contradicting compared to other banks... They LOVE when you spend like crazy on their cards and make them money from those merchant fees. Why would you decrease someones limit if they are continuously making you money? Pfft, if anything I would extend more credit to the cardholder to give them that "buying power" mentality! 


Cause John Doe Consumer could default and Disocver could be out alot of money if they see risky behavior and a person starting to carry balances and applying for new credit.  Not saying what the OP did as this is not what he stated.  Discover or any bank for that matter will take AA against a person if they feel their money is at risk.  Just goes along witth the game we call credit.

Message 22 of 29
Anonymous
Not applicable

Re: Discover IT. Cut my CL

The money they make on swipes & interest is pennies compared to the money they lose when they have to charge off an account.

High income? Here, have some more rope, hang yourself. But as soon as ability to repay comes into question, the balance chasing starts.
Message 23 of 29
Anonymous
Not applicable

Re: Discover IT. Cut my CL


@CreditCuriousity wrote:

@Anonymous wrote:

"They can also decrease it if they found that you had fallen behind on payments or charged too much to the card."

 

Are you kidding me? If that's true, then Discover is quite contradicting compared to other banks... They LOVE when you spend like crazy on their cards and make them money from those merchant fees. Why would you decrease someones limit if they are continuously making you money? Pfft, if anything I would extend more credit to the cardholder to give them that "buying power" mentality! 


Cause John Doe Consumer could default and Disocver could be out alot of money if they see risky behavior and a person starting to carry balances and applying for new credit.  Not saying what the OP did as this is not what he stated.  Discover or any bank for that matter will take AA against a person if they feel their money is at risk.  Just goes along witth the game we call credit.


I think more specifically if you charge too much to the card and make minimum payments.  If you put $1500 on the card and PIF that's one thing.  They do like being the main card in your arsenal (and I have made them the main card since getting it) but they have their limits when it comes to risky behavior.  I've already put about $500 on it since getting it, but I will be paying in full. 

Message 24 of 29
tntexans72
Valued Contributor

Re: Discover IT. Cut my CL


@Anonymous wrote:
Thanks to Discover IT there will be no Christmas gifts under the tree for my grandkids. Oh wait, that's right Capital One CLI me to 3750.00 last month. Shame on you Discover IT Srooge. Lol Happy Holiday y'all !

Congrats, 1 door closed, another open!

Message 25 of 29
Anonymous
Not applicable

Re: Discover IT. Cut my CL


@CreditCuriousity wrote:

@Anonymous wrote:

"They can also decrease it if they found that you had fallen behind on payments or charged too much to the card."

 

Are you kidding me? If that's true, then Discover is quite contradicting compared to other banks... They LOVE when you spend like crazy on their cards and make them money from those merchant fees. Why would you decrease someones limit if they are continuously making you money? Pfft, if anything I would extend more credit to the cardholder to give them that "buying power" mentality! 


Cause John Doe Consumer could default and Disocver could be out alot of money if they see risky behavior and a person starting to carry balances and applying for new credit.  Not saying what the OP did as this is not what he stated.  Discover or any bank for that matter will take AA against a person if they feel their money is at risk.  Just goes along witth the game we call credit.


 

Agreed, CC. By the way, why is your new seedling in your signature so tiny? You have a miniature little one! Smiley Happy

Message 26 of 29
Discover2016
Valued Contributor

Re: Discover IT. Cut my CL

There has to be something else besides the inq that spooked Discover, how is the util on your other cards? 

Gardening until September 2025
Next app: Mortgage in September 2025
Message 27 of 29
NRB525
Super Contributor

Re: Discover IT. Cut my CL


@Anonymous wrote:

"They can also decrease it if they found that you had fallen behind on payments or charged too much to the card."

 

Are you kidding me? If that's true, then Discover is quite contradicting compared to other banks... They LOVE when you spend like crazy on their cards and make them money from those merchant fees. Why would you decrease someones limit if they are continuously making you money? Pfft, if anything I would extend more credit to the cardholder to give them that "buying power" mentality! 


Key word. All the card agreements have outs to allow the CCC to close / change the accounts in ways that they want to.

 

CAE, if they ran a HP and gave you that kind of increase, your file is of a different structure than the OP, so it seems unlikely you'd find yourself reduced to $1k, unless something else drastically changes in your profile. No need to extrapolate AA that is happening to another poster to think that automatically applies to your situation.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 28 of 29
Anonymous
Not applicable

Re: Discover IT. Cut my CL

The companies are watching.

It is 'now clear that credit card companies are doing everything they can to reduce their risk – and it’s not that easy to predict if you’ll be targeted. They are profiling their customers and watching their spending habits very carefully. You could be showing risky behavior without even realizing it! Any little thing can flag you.'

 

It's the 8 applications that did it. Maybe even what was entered into the applications. Discover knows more about you than you think they do. They; like us, didn't know why this cardholder would ever apply for Victoria Secret card. Do the math. Bad move. And why 8? He must have been denied the first time. And what does he do after? Apply again.

 

You don't do that.

 

8 actually is a lot. Other members have said that we all have more inquiries, which is true. But it all depends on the time frame. I have 14 myself. But you can be sure that 8 of THOSE happened all in one night... months ago. While I was desperate for credit. No, I hadn't gotten approved for anything that night. And these inquiries will all fall off at the same time.

 

Why not make this a rule, "You don't get approved for one card, you don't get approved for any cards." 

Message 29 of 29
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