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Discover - keep it or cut it?

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-Wade-
Valued Contributor

Re: Discover - keep it or cut it?


@disdreamin wrote:

@kdm31091 wrote:

Why would you decline any CLI? I'm baffled. Anything is better than zero, right? If you decline, you get nothing. If you accept you get something, even if it's not the full amount you wanted. What's the downside?

 

Waiting in hopes of a "better" CLI isn't always fruitful. A lot of people think creditors give CLI regularly in exchange for time. That's not how it works. They give it to you if they feel it's warranted, period. The OP is a perfect example of someone who's had a card forever and no CLI because for whatever reason Discover doesn't want to give them more credit. The mentality of "after 6 months I'll get a 2x increase and then after 12 months my limit will go up to xyz" is dangerous because you are setting yourself up for disappointment if they don't give it to you (like I said, it is NOT a foregone conclusion that you will get xyz just because you've had a card x amount of time).


I didn't turn down the CLI exactly - the CSR asked if I wanted to withdraw my request and I said yes.  I wanted time to think about possibly changing the card over to the It card, and how much a CL would need to be to really work for me.  I was told that I can always call again and do another CLI request, according to the person I spoke with.  

 

As far as my mentality, my Discover card CL has been the same the entire time I've had the card - it is $4K.  What Discover is seeing that makes them unwilling to grant me the CLI I requested, I couldn't say.  It is unlikely that their reluctance is due to my FICO scores, my credit history, my income, or anything else I'd typically say companies based decisions like this on.  Clearly they've got their reasons, but I fail to comprehend what they are.


Like i say before i would call and switch to the IT card and ask for a CLI at the same time.Good luck Smiley Happy

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 31 of 35
NRB525
Super Contributor

Re: Discover - keep it or cut it?


@disdreamin wrote:

@kdm31091 wrote:

Why would you decline any CLI? I'm baffled. Anything is better than zero, right? If you decline, you get nothing. If you accept you get something, even if it's not the full amount you wanted. What's the downside?

 

Waiting in hopes of a "better" CLI isn't always fruitful. A lot of people think creditors give CLI regularly in exchange for time. That's not how it works. They give it to you if they feel it's warranted, period. The OP is a perfect example of someone who's had a card forever and no CLI because for whatever reason Discover doesn't want to give them more credit. The mentality of "after 6 months I'll get a 2x increase and then after 12 months my limit will go up to xyz" is dangerous because you are setting yourself up for disappointment if they don't give it to you (like I said, it is NOT a foregone conclusion that you will get xyz just because you've had a card x amount of time).


I didn't turn down the CLI exactly - the CSR asked if I wanted to withdraw my request and I said yes.  I wanted time to think about possibly changing the card over to the It card, and how much a CL would need to be to really work for me.  I was told that I can always call again and do another CLI request, according to the person I spoke with.  

 

As far as my mentality, my Discover card CL has been the same the entire time I've had the card - it is $4K.  What Discover is seeing that makes them unwilling to grant me the CLI I requested, I couldn't say.  It is unlikely that their reluctance is due to my FICO scores, my credit history, my income, or anything else I'd typically say companies based decisions like this on.  Clearly they've got their reasons, but I fail to comprehend what they are.


There are numerous posters who also don't understand Discover, and don't get the CLI they expect. My understanding of how Discover works is, you have to use the card. They are fine with you using the card up to the limit; I keep doing that and they respond by throwing new offers my way. It's not a card that is going to give you an easy $10k limit so you can charge $1k and leave it at that. Use the $4k limit.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 32 of 35
lg8302ch
Senior Contributor

Re: Discover - keep it or cut it?


@NRB525 wrote:

@disdreamin wrote:

@kdm31091 wrote:

Why would you decline any CLI? I'm baffled. Anything is better than zero, right? If you decline, you get nothing. If you accept you get something, even if it's not the full amount you wanted. What's the downside?

 

Waiting in hopes of a "better" CLI isn't always fruitful. A lot of people think creditors give CLI regularly in exchange for time. That's not how it works. They give it to you if they feel it's warranted, period. The OP is a perfect example of someone who's had a card forever and no CLI because for whatever reason Discover doesn't want to give them more credit. The mentality of "after 6 months I'll get a 2x increase and then after 12 months my limit will go up to xyz" is dangerous because you are setting yourself up for disappointment if they don't give it to you (like I said, it is NOT a foregone conclusion that you will get xyz just because you've had a card x amount of time).


I didn't turn down the CLI exactly - the CSR asked if I wanted to withdraw my request and I said yes.  I wanted time to think about possibly changing the card over to the It card, and how much a CL would need to be to really work for me.  I was told that I can always call again and do another CLI request, according to the person I spoke with.  

 

As far as my mentality, my Discover card CL has been the same the entire time I've had the card - it is $4K.  What Discover is seeing that makes them unwilling to grant me the CLI I requested, I couldn't say.  It is unlikely that their reluctance is due to my FICO scores, my credit history, my income, or anything else I'd typically say companies based decisions like this on.  Clearly they've got their reasons, but I fail to comprehend what they are.


There are numerous posters who also don't understand Discover, and don't get the CLI they expect. My understanding of how Discover works is, you have to use the card. They are fine with you using the card up to the limit; I keep doing that and they respond by throwing new offers my way. It's not a card that is going to give you an easy $10k limit so you can charge $1k and leave it at that. Use the $4k limit.


You do not have to use the card up to the limit to get a CLI. Since beginning I have been using the card the exact same way and after a while I did get my CLIs even with not spending any more than in the first year with 25% of my current limit.  But if you SD then I could imagine that you will not get any CLIs. Just use it normally and be patient.

Message 33 of 35
mongstradamus
Super Contributor

Re: Discover - keep it or cut it?


@lg8302ch wrote:

@NRB525 wrote:

@disdreamin wrote:

@kdm31091 wrote:

Why would you decline any CLI? I'm baffled. Anything is better than zero, right? If you decline, you get nothing. If you accept you get something, even if it's not the full amount you wanted. What's the downside?

 

Waiting in hopes of a "better" CLI isn't always fruitful. A lot of people think creditors give CLI regularly in exchange for time. That's not how it works. They give it to you if they feel it's warranted, period. The OP is a perfect example of someone who's had a card forever and no CLI because for whatever reason Discover doesn't want to give them more credit. The mentality of "after 6 months I'll get a 2x increase and then after 12 months my limit will go up to xyz" is dangerous because you are setting yourself up for disappointment if they don't give it to you (like I said, it is NOT a foregone conclusion that you will get xyz just because you've had a card x amount of time).


I didn't turn down the CLI exactly - the CSR asked if I wanted to withdraw my request and I said yes.  I wanted time to think about possibly changing the card over to the It card, and how much a CL would need to be to really work for me.  I was told that I can always call again and do another CLI request, according to the person I spoke with.  

 

As far as my mentality, my Discover card CL has been the same the entire time I've had the card - it is $4K.  What Discover is seeing that makes them unwilling to grant me the CLI I requested, I couldn't say.  It is unlikely that their reluctance is due to my FICO scores, my credit history, my income, or anything else I'd typically say companies based decisions like this on.  Clearly they've got their reasons, but I fail to comprehend what they are.


There are numerous posters who also don't understand Discover, and don't get the CLI they expect. My understanding of how Discover works is, you have to use the card. They are fine with you using the card up to the limit; I keep doing that and they respond by throwing new offers my way. It's not a card that is going to give you an easy $10k limit so you can charge $1k and leave it at that. Use the $4k limit.


You do not have to use the card up to the limit to get a CLI. Since beginning I have been using the card the exact same way and after a while I did get my CLIs even with not spending any more than in the first year with 25% of my current limit.  But if you SD then I could imagine that you will not get any CLIs. Just use it normally and be patient.


Lol i had so much rage against discover at beginning of the year because it took them forever to give me CLI , but with patience comes rewards, I finally did get two sp cli from them. You just have to be patient that is all i really can say :-)



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 34 of 35
takeshi74
Senior Contributor

Re: Discover - keep it or cut it?


@disdreamin wrote:

Am I being unreasonable to think that CLI was too conservative?  What would you suggest doing? 


No way for us to tell as it all depends on your credit, income and Discover's critieria.  I requested a 2x CL at 3 months and they came up about $500 short -- and then shortly followed up with a $500 auto CLI.  It has received at least one other auto CLI since then as well.  Usage hasn't been high despite those that say the usage determines CLI's.  There's really just no telling with Discover and CL's.  There seem to have been cases where those with thin profiles get high limits and those with thick, established profiles get low limits.  There's certainly some method to their madness but it just doesn't seem as straightforward as many make it out to be.

 

It's really up to you to determine what you want to do with the card.  Many myFICO's will say "keep it as it has no AF" but you need to decide based on your specific needs/wants/priorities/etc.

Message 35 of 35
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