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 01:21 PM
Discover is known around these parts to be VERY stingy with their credit lines.
Sorry to hear about your denial.
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.
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