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thebostonredsox wrote:I opened a Discover More card at the beginning of this year. While reviewing all my credit card accounts this month, I noticed Discover was the only account that didn't give me an auto CLI. I decided to call them and request one. The system prompts you all the way through the process, and at the end of all the info, declined.... My EX fico is 725, low util % of open trades.. My other prime cards (BOA, Chase & Barclays) all offer auto CLI's. What's up with Discover??? As a result, I will utilize Discover much less than my other cards. Of all the banks, Bank of America is by far the best bank to do business with. They grow with you and always go the extra mile for their long-term customers.
rmily wrote:
I'm waiting on a new card to arrive in the mail and when it does Discover will be limited to a small monthly charge
@jmbfl wrote:
@Anonymous wrote:
I'm waiting on a new card to arrive in the mail and when it does Discover will be limited to a small monthly chargeNormally Discover prefers use. However, if you are going to do this then do it for a year. After a year passes from the last time you got a CLI call them and tell them you would really like to use their card more, but can't because of the lowish credit line and you were wondering if they could do something about that. That might just do the trick - but no cheating - you have to wait the full year for it to work.Remember, scores are not the only factor considered making credit decisions. HH income, age, length of time on the job, length of time at address and depth of CBR are all important. You can have a fairly high FICO and still have a shallow credit report. I have an eight year old open/active account on my CBR's and was told (in APR) by a BofA credit analyst that my report was young and shallow. (Personally I may be shallow, but I am certainly not young...)
jmbfl wrote:
rmily wrote:
I'm waiting on a new card to arrive in the mail and when it does Discover will be limited to a small monthly charge
Normally Discover prefers use. However, if you are going to do this then do it for a year. After a year passes from the last time you got a CLI call them and tell them you would really like to use their card more, but can't because of the lowish credit line and you were wondering if they could do something about that. That might just do the trick - but no cheating - you have to wait the full year for it to work.Remember, scores are not the only factor considered making credit decisions. HH income, age, length of time on the job, length of time at address and depth of CBR are all important. You can have a fairly high FICO and still have a shallow credit report. I have an eight year old open/active account on my CBR's and was told (in APR) by a BofA credit analyst that my report was young and shallow. (Personally I may be shallow, but I am certainly not young...)
Stingy Discover limits quite likely are a sign of the times (recession for sure by almost any definition one uses these days). That being said, though, I did get a recent Discover More CLI from $5100 to $6300 from them using one of their over-the-phone "short applications", and might have been more had I wanted to do the full hard inquiry (a "long application"). Truthfully, Discover is the oldest card (back from the college days), so it behooves me to maintain the card, but Discover offers nominal purchase APRs that are pathetic compared to the other three card networks. As part of the short application, I managed to get a six-month promotional APR of 3.9% and a lowered nominal (20.25% to 16.99%), but that's still a far cry from a fixed 10% MC and fixed 8% Visa. Don't need to be a rocket scientist for the math on that one. Also, Discover still isn't accepted anywhere you go, although they are working on the international front - probably will announce plans for it in early 2009.
@Anonymous wrote:Stingy Discover limits quite likely are a sign of the times (recession for sure by almost any definition one uses these days). That being said, though, I did get a recent Discover More CLI from $5100 to $6300 from them using one of their over-the-phone "short applications", and might have been more had I wanted to do the full hard inquiry (a "long application"). Truthfully, Discover is the oldest card (back from the college days), so it behooves me to maintain the card, but Discover offers nominal purchase APRs that are pathetic compared to the other three card networks. As part of the short application, I managed to get a six-month promotional APR of 3.9% and a lowered nominal (20.25% to 16.99%), but that's still a far cry from a fixed 10% MC and fixed 8% Visa. Don't need to be a rocket scientist for the math on that one. Also, Discover still isn't accepted anywhere you go, although they are working on the international front - probably will announce plans for it in early 2009.
Rather harsh on Discover I think. You have to take them for what they are and don't try to make them what they aren't. They have never been generous with there opening CL's. It has nothing to do with the times.
I have posted here previously regarding Discover's purchase of Diners Club's processing network which will given them ready access to foreign markets where they have little penetration.
All that said I do not have a stellar income and at the time my FICO's were hovering around 690. I had recently been issued a PenFed PCR Visa ($10K). I received a pre-approved offer from Discover and decided to go for it. I was instantly approved. They gave me $8.1K CL / 11.99% APR / 0% intro (for a while) / 3.99 BT to 2012 (already over and now higher/shorter). They have been good to me and others here and there are very few complaints. Also very little AA (CLD/APRI) unless well deserved. They have outstanding CS. No shady practices. This is a very good card.