11-26-2012 09:43 AM
i have had the discover student card since january 2011 with an initial credit line of $500... it has not gone up since then. my sister applied for the same card in march 2012 with an initial credit line of $500 and is now at $1300 with automated CLI. Since I got the card until now i've spent over $18000... over $800 a month on a $500 CL by paying off my balance weekly. i just made a call today to request a CLI to $1500 so i can buy a laptop for my girlfriend for christmas but the CSR said it will require an inquiry.
was anyone successful with CLI without inquirie? the last i checked my credit score was 722 when i bought a car 2 months ago. should i just go ahead and apply for another credit card? which ones are reasonably acquirable with my credit score?
just some background information: $45000 salary, graduated may 2012, only expenses are personal+car+insurance+phone (living with parents right now)
11-26-2012 09:47 AM
Hmmm my brother has a student Discover card as well but it's been a little less than 6 months since he's had it so we haven't bothered doing a CLI on it (it's already a really high limit of 5k, and since it's his highest limit so far with a short AAoA we don't want to wake the bear too soon). I can look into it, but hopefully someone else who has had experience will get back to you sooner!
11-26-2012 09:48 AM
i would personally apply for a Citi Forward card, it's good for people in your shoes and it gives 5% off amazon, movie tickets etc and 5% back for dining fast food or fine dining although redeeming it isn't always 1/1 ratio but 0.8 / 1 on some cases but that's still solid 4% i thinkn you might have to have another product with Citi but I just got the card and loving it so far.
11-26-2012 09:52 AM
Also define "inquiry"...they have to pull your report regardless but there is a huge difference between a hard pull and soft pull...so far online i've been seeing if your limit is under 15k every 6 months you can get a soft pull but over 15k is a hard pull. That may be outdated information though, since credit card companies change their policies.
Recent forums are showing it depends on the increase, customer, etc. So if the rep told you it's a hard pull, try calling again in 3-6 months to ask again. Others have said that a few days later after denying a hard pull to increase the limit they wind up giving them an automated anyways! Online CLI will often call you or notify you if a hard pull is necessary.
11-26-2012 10:01 AM
i asked her about automated CLI, but she said "in your case when you request CLI a harder inquiry is required." i paid eveything with discover where accepted and when my credit line permits. i would like a CLI before resorting to paying cash for a $750 laptop... but more importantly, i feel like my CL is stuck at $500 with discover because it hasn't gone up while my sister's went up several times in a short period. (though she is still in school and without an income)
11-26-2012 10:17 AM
Sometimes CC companies have stricter rules for student cards. You might want to just app for another CC like maybe Freedom or Citi Forward. You might get a higher line.
11-26-2012 10:51 AM
Ask in the online Chat Session. I did, but was denied. Wasn't a hard pull. He said he would get all my information, and if it required a hard pull he would tell me, and let me make my decision from there. Was a soft pull for a denial. I didn't mind it.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.