Discover More preapproval (finally)

[Anonymous]

I received my first ever Discover preapproval in the mail today.  It's for the More card.  The terms said they would consider me for an initial CL of up to $25K.  I know how these offers work, and I know that is not a guaranteed CL, but that seems kind of generous for Discover.

I know that when I used to get WaMu preapprovals, each new preapproval listed a max CL that was slightly higher than the last.  Eventually, they got up to $30K, and I was approved for $15K when I finally applied.

So, I guess my question is whether the CLs on Discover More preapprovals work the same way.  Is the "up to $25K" offer standard for Discover More, or are there different levels for these, as well?

Thanks in advance for anyone's input.

[laryn41]

Cheddar, did you get the card?

[Anonymous]

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laryn41 wrote:

Cheddar, did you get the card?

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No, I'm holding off for now.  I've promised myself (and others) no more apps until January 2009.

I can't believe nobody knows the answer to my preapproved CL question, though.  Surely I'm not the only one on this board who's gotten a Discover preapproval in the mail.

[davidboca]

When I received a Discover pre-approval form in the mail a while back, It read up to 25K credit line with 0% interst for eight months and 5.9% on balance transfers.

[Anonymous]

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cheddar wrote:

I can't believe nobody knows the answer to my preapproved CL question, though.  Surely I'm not the only one on this board who's gotten a Discover preapproval in the mail.

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I used to receive Discover preapprovals regularly, but I think they gave up on me.  I'm sorry, but I can't recall the credit lines offered.  However, I did retrieve my "Promotional Inquiries" from my TU and EX reports obtained through annualcreditreport.com.  Just to give you an idea of how many of these preapproved offers I received:

TransUnion-

DISCOVER FINCL SVC LLC:

Requested on:  05/2007, 04/2007, 08/2006

Experian-

DISCOVER FINANCIAL SVCS:

Requested on:  July 7, 2006, April 18, 2006, March 22, 2006, February 24, 2006, January 19, 2006, December 13, 2005, November 9, 2005, October 14, 2005, September 15, 2005, August 17, 2005.

[Anonymous]

TU 744 w/ 0 inqs.

EX 725 w/ 8 inqs.

Household income: $169K

Reporting CLs are:

$15K

$9K

$7.5K

$5.1K

$5K

$2K

$1.5K

$1K

$500

$500

$500

$200

Anyone care to guess what sort of CL I might get?  They seem pretty stingy, from what I've read.

Edit: Should have mentioned utilization is less than 1%.  My guess would be $4K.

Message Edited by cheddar on 06-25-2008 12:24 PM

[davidboca]

$10-15K

[thrasher865]

Your scores are identical to mine, you have much more income and many more open accounts than me.

They gave me $3000 CL

Take whatever you want from that statement.

I would say they would give you $5k +

Give it a shot!  Now I'm curious to see how well I guesstimated.  Help curb my boredom!

Actually, I think they would come closer to your higher limits.  They exceeded my other card's limit of $2k.

Message Edited by thrasher865 on 06-25-2008 12:29 PM

[Anonymous]

Thanks for the input so far.

Yeah, I should have mentioned there wouldn't be any instant gratification from finding out how close your guess was. LOL.

I never apply on a whim, but I always agonize over it for weeks before I do.  The Discover More offer is good until July 31, so I'm thinking I might apply mid-July after I get my next Amex CLI (definitely not before).  Or I may just nix the idea and let my accounts age for a while.  I really don't need another EX inquiry, but they've been known to pull EX or TU.

Decisions, decisions....

Do I need it?  No.

Does 5% cashback in certain categories sound pretty good?  Heck, yeah.

Message Edited by cheddar on 06-25-2008 12:39 PM

[Anonymous]

Cheddar...my father has excellent history and has your same income and has a 13,500 limit with discover. I think Discover is not very generous.

I had a Citibank card in 2005 that had a credit line of 25,000.   Citibank is the way to go in my opinion !