Discover dropped my limit from 800 to 500 because

[Anonymous]

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@Anonymous wrote:

Agree here.  If you're wanting to build credit, get a decent limit on that card first.   Work on the cc's and get your scores up and then apply for the auto loan.  Then they won't do as many pulls.  I thank BMW for doing 2.  800.00 and a 911 don't equal 2.  

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Right, that's like saying "I just purchased bottle service on my RUSHCARD"

[Callandra]

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@Anonymous wrote:

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@ezdriver wrote:

they saw "too many inquiries" on my credit when they reviewed it. By the way, I don't need more credit. I did not apply for any cli. The card is simply being used to strengthen my credit profile. Why were the inquiries there? Because I was shopping for a car around the Memorial Day weekend. I bought a Porshe 911 C4S. I make six-figure income. My only other significant debt is my home mortgage. I laughed when I saw the alert. I wrote back to Discover that I will use their card to buy only chewing gum each month so feel free to never increase it.. lol

Did a human review actually did such a stupid thing or a computer did it?

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then what the heck were you doing with 800 limit discover card in the first place? just cancel the card and don't even bother. I'm sure with your income, you can get other credit cards with much higher credit limit.

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This not directed at OP since I don't know his credit history but just because you have high income, it doesn't mean you have good credit and can get high lines. Just because you make a lot of money doesn't mean you're responsible with it. 

[Anonymous]

For those thinking something is not right or if he is kidding, if you visit the auto section on here you will know he indeed bought a Porsche. I don't doubt his story one bit as he has not given me any cause to do so.

OP specifically stated he has the card- Disover to strenghten his file.  Could this card be the first initial card?  We don't know that.  Does he have cards with higher limits, probably so lets refrain from jumping to conclusions. What he does with his money is entirely up to him.

And to back his claim of buying a Porsche, here is his thread from May, 2015.  You can verify and clearly see he did indeed buy a car.....

http://ficoforums.myfico.com/t5/Auto-Loans/Got-my-car-today-and-drove-725-miles-with-it/td-p/4035443

[Anonymous]

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@Callandra wrote:

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@Anonymous wrote:

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@ezdriver wrote:

they saw "too many inquiries" on my credit when they reviewed it. By the way, I don't need more credit. I did not apply for any cli. The card is simply being used to strengthen my credit profile. Why were the inquiries there? Because I was shopping for a car around the Memorial Day weekend. I bought a Porshe 911 C4S. I make six-figure income. My only other significant debt is my home mortgage. I laughed when I saw the alert. I wrote back to Discover that I will use their card to buy only chewing gum each month so feel free to never increase it.. lol

Did a human review actually did such a stupid thing or a computer did it?

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then what the heck were you doing with 800 limit discover card in the first place? just cancel the card and don't even bother. I'm sure with your income, you can get other credit cards with much higher credit limit.

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This not directed at OP since I don't know his credit history but just because you have high income, it doesn't mean you have good credit and can get high lines. Just because you make a lot of money doesn't mean you're responsible with it. 

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Cash rich, Credit poor is more common than you think.

[Anonymous]

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@Anonymous wrote:

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@Callandra wrote:

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@Anonymous wrote:

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@ezdriver wrote:

they saw "too many inquiries" on my credit when they reviewed it. By the way, I don't need more credit. I did not apply for any cli. The card is simply being used to strengthen my credit profile. Why were the inquiries there? Because I was shopping for a car around the Memorial Day weekend. I bought a Porshe 911 C4S. I make six-figure income. My only other significant debt is my home mortgage. I laughed when I saw the alert. I wrote back to Discover that I will use their card to buy only chewing gum each month so feel free to never increase it.. lol

Did a human review actually did such a stupid thing or a computer did it?

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then what the heck were you doing with 800 limit discover card in the first place? just cancel the card and don't even bother. I'm sure with your income, you can get other credit cards with much higher credit limit.

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This not directed at OP since I don't know his credit history but just because you have high income, it doesn't mean you have good credit and can get high lines. Just because you make a lot of money doesn't mean you're responsible with it. 

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Cash rich, Credit poor is more common than you think.

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Not picking on anyone either.  Just says "built a robust credit file" to get the car.   So I still don't get it?  

[Imperfectfuture]

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@Anonymous wrote:
How come no one ever says "I bought a used Honda. I make a four figure income."

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LOL, though even social security is 5 figure income (unless on SSI, then 800 is a perfectly good limit).  Honda yes, 4 figure income, very rare.

[DrZoidberg]

This thread makes me miss my GTR.

[Anonymous]

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@Imperfectfuture wrote:

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@Anonymous wrote:
How come no one ever says "I bought a used Honda. I make a four figure income."

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LOL, though even social security is 5 figure income (unless on SSI, then 800 is a perfectly good limit).  Honda yes, 4 figure income, very rare.

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Even a 20 year used honda is out of reach for many on 4 figure incomes, Think a used GM.

[Anonymous]

Your right about that. When I was a student and had a four figure income I could barely afford a bus ticket. Still my first CC had a 5k limit. I know income plays a part in limits, and agree that it's odd that the OP has such a small limit. Something doesn't seem to add up, I mean even if the OPs credit is awful than why even approve them at all.

[Anonymous]

PS I like my GM. 😁