04-04-2014 11:07 AM
I opened my IT card February 2013 and was given a $3,000 limit.
I got an auto-CLI via email (happy surprise) in August 2013 bumped me up to $5,200.
I haven't heard a word from them since. I expected to see an A/R inquiry from them at/after my 12month statement hit, but nope nothing. Or will they now go based on when I got my last cli - so not until August?
I don't NEED the CLI but they sure got my hopes up after giving me one so quickly haha!
If I hit the luv button on their website, is it a soft or hard pull?
04-04-2014 11:16 AM
04-04-2014 11:40 AM
Be aware that the CLI, especially if handled by an analyst, they take into consideration a number of other things such as your income, living expenses, and your overall risk portfolio. For example my best friend has money from a left over family estate but he is unemployed, and doesn't have a huge credit portfolio. Chase up'd his Freedom card to 3K, then to 5K, but for the past 3 years they have left him at 5K regardless of how well he's been handling the card. When he asks for a CLI they aways tell him they can't give him more b/c of his current risk assessment.
If 5K is good for you right now stay with it. If it seems absurd for your credit history, your spending power/behavior, and income, then go for a CLI.
04-04-2014 08:01 PM - edited 04-04-2014 08:02 PM
As others have stated, it's generally a soft pull. If they need to do a HP, they will warn you first and get your consent.
In my case, my original CL was $5k a few years ago. They slowly up'd it to $8800, which I had about six months ago. I never noticed the 'luv' button before, but finally saw it and decided to give it a shot and only requested an increase to $10k (I like round numbers). Kind of stupid since they will counter. Anyway, they instantly approved me. A couple months later, I was able to request again and asked for $15k. I got a 'we'll get back to you' response, but found my CL increased to $15k the next day.
From what I heard, $15k seems to be a magic number for Discover, similar to the $25k for Amex. While I did get more than that with Amex, I'm good with $15k from Discover so won't be pulling the trigger again anytime soon. Maybe they'll show me some auto love again.
04-05-2014 10:39 AM
04-08-2014 11:55 AM
Hmmm, just pulled my TU free annual report and I see that Discover did do a soft pull on TU on 3/31/2014. But I got no love from them. Dang. The ONLY thing in my credit profile that has changed is I went from zero credit cards to three: Discover, a CU visa and JC Penny. All 3 were opened Feb 2013 so over a year old and no apps since then and balances all under 10%.
Oh well, I can wait. Like I said, I don't *NEED* a higher limit.
04-10-2014 02:33 PM
Couldn't resist. I tried the love button online with Discover. Asked for an $1,800 increase to take me to $7,000.
It said it couldn't be approved at this time, without moving forward with a hard pull. So I cancelled the request. I don't need it at the expense of an official inquiry.