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Regular Contributor
thebostonredsox
Posts: 148
Registered: ‎08-27-2008
0

Discover - NO CLI - Sign of the times ?

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.
 
 
Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008
0

Re: Discover - NO CLI - Sign of the times ?



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.



What month did you get your card and what was the original CL?
 
BofA is OK, but overrated.
 
I would NEVER depend on Barclay/Juniper!
 
Established Contributor
rmily
Posts: 670
Registered: ‎07-12-2008
0

Re: Discover - NO CLI - Sign of the times ?

[ Edited ]
Personally Discover has been very stingy for me. I got my card five years ago with a $1,500 credit limit. I've since requested 2 increases and was approved for $1,000 each time. I understand the initial low limit as I was a student with very little income at the time but that is no longer the case and hasn't been for over 2 years. I've never had a late payment, lowest score's been in the 740s-750s the past year or so that I've watched it..

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 :smileyhappy: I still like it but my normal monthly charges cause utilization bumps and I don't want to mess around with multiple payments n stuff. Maybe I could request a credit limit every 8-12 months and if history repeats itself, I'd have a good limit in a few years.

Message Edited by rmily on 09-27-2008 09:37 AM
Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008
0

Re: Discover - NO CLI - Sign of the times ?



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 :smileyhappy:

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...)
Regular Contributor
Wesley23
Posts: 122
Registered: ‎06-02-2008
0

Re: Discover - NO CLI - Sign of the times ?

My Discover CL is roughly half of what my next lowest CL is. Admittedly, my scores are low, but it's a bit odd that my BoA card has a CL 4 times higher than my Discover card. If it weren't for the rewards I get on gas, I would put the card in the sock drawer.
Frequent Contributor
TangMeister
Posts: 456
Registered: ‎07-09-2008
0

Re: Discover - NO CLI - Sign of the times ?



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 :smileyhappy:

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...)





+1 Some great advice there.

When you're declined for a CLI, they're sending you a message that you're not doing what they expect to receive a CLI...it has little to do with their financial stability, most likely. Almost all banks are still giving out nice CLIs and high CL cards to customers, at least they are if they were in the past.

Aside from jmbfl's plan above, how about doing the opposite of what you have planned: Use the card like mad for a few months up to it's CL or at least 50% or so, and PIF it before the statement cuts, so it doesn't harm your FICO. In other words...let them make some profit off your account from your transactions. Then, after three to six months of that type of usage, ask for a CLI. I bet you'd get one automatically even without asking. Just my two cents. Good luck, regardless!
Moderator Emeritus
WhirledPeasPlease
Posts: 3,418
Registered: ‎12-27-2007
0

Re: Discover - NO CLI - Sign of the times ?



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 :smileyhappy:

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...)


I'll second this.  My HHI is small to average, I've been in my current home a month, but still own my other house so length of residence was fine.  When I called for a manual review for a CLI they even commented on the length of time I've been with my current employer-- 9+ years -- as being great.  I have two accts that are way up there with respect to util and they STILL gave me a CLI from 1.1k to 3.5k.  My TU at the time was 698.
 
I REALLY love Discover -- and the great cash back! 
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Valued Member
jackelope
Posts: 36
Registered: ‎04-29-2007
0

Re: Discover - NO CLI - Sign of the times ?

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.

Established Contributor
plasticguy
Posts: 556
Registered: ‎02-21-2008

Re: Discover - NO CLI - Sign of the times ?

Not for me. I 've had Discover since April 06. Started out at $7500, received auto increase of $1500 on the 6th month. I hardly use the card, when I do, I PIF before the statement generates. I just ask for an increase a few weeks ago. Currently I am at 16,000. All increases were given with no Hard Pulls :smileyhappy:
Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008
0

Re: Discover - NO CLI - Sign of the times ?


jackelope 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.


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