07-11-2013 01:20 PM
I've had my Discover IT for 5 months and applied for a CLI today, and got declined. The representative was kind of confused as well seeing that i've PIF every month and i don't have that much outstanding debt on my cards....does anyone know if Discover is typically stingy with their lines? this is my first line of credit with them in general. I also have a Wal-Mart Discover but don't necessarily count them in this matter.
Any advice would be great!
07-11-2013 01:35 PM
they said they would send me a letter. I will keep you all posted. She said very strictly it's soft pull since it's a established account.
One of the things i learned on the phone from the CSR is that "established accounts" are accounts that are 3 to 12 months of age, "well establish accounts" are 12-36 months old, "outstanding accounts" are 37+ months old. apparently, their underwriters use this and our fico scores to determine CLI, including automatic. Most Discover IT accounts are automatically reviewed after 6 to 12 months for an increase. Maybe I applied a bit too soon. We'll see...
07-11-2013 02:01 PM
Yeah that's the reason, try and call back again in 3 months and if you still get declined through a soft and you really want an increase try for a hard pull, you will most likely get at least something.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO