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I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
@Colombianking wrote:I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
OP, since the original thread was old, I've started a new thread on this topic.
Unfortunately, I haven't had a Discover since pre-BK and they're still mad at me (may try again once BK falls off later this year), so I don't have direct advice on this.
@Colombianking wrote:I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
Be thankful you got the CLI you did. I got $250 after 8 months.
@mitchblue wrote:
@Colombianking wrote:I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
Be thankful you got the CLI you did. I got $250 after 8 months.
+1 I would be very thankful for any CLI from discover.
No creditor simply exchanges CLI's for time. They are always based on credit. With 50% utilization I'm not surprised though the specific reasons will be cited in the letter. General advice is do not exceed 30%.
It most likely has to do with the 50% util.
@Colombianking wrote:I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
Scores only play a small role. Sorry you were denied but you said it yourself. 50% is utilization is almost always a denial regardless of history. being 50% say on 1 card and overall utlization say 20 plus percent then ok. All about risk. Time does not equate into automatic cli for sure.
@taxi818 wrote:
@Colombianking wrote:I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
Scores only play a small role. Sorry you were denied but you said it yourself. 50% is utilization is almost always a denial regardless of history. being 50% say on 1 card and overall utlization say 20 plus percent then ok. All about risk. Time does not equate into automatic cli for sure.
8 month old thread and you're replying to a poster who hasn't logged in since April
@Anonymous wrote:
@taxi818 wrote:
@Colombianking wrote:I received my Discover It card in August 2014 with a CL of $2700 I got an increase to $3500 in November... My credit score now is 730-750 between the three agencies... my utilization is at 50% across 5 credit cards I requested a CLI (it was a soft pull) yesterday and was disqualified for the CLI... letter is coming in the mail...
Scores only play a small role. Sorry you were denied but you said it yourself. 50% is utilization is almost always a denial regardless of history. being 50% say on 1 card and overall utlization say 20 plus percent then ok. All about risk. Time does not equate into automatic cli for sure.
8 month old thread and you're replying to a poster who hasn't logged in since April
You guys need to get rid of these old threads. no way to purge them? i even saw a 3 year old thread the other day. yikes!!!