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Discover is not known for high starting limits. I would say a $5k CL is good in this credit climate.
I suppose, the question of what a good limit is depends on the individual. If you have lots of $10k+ credit limits $5k may not seem like much, but if you have a bunch of $1.5k cards then $5k is quite nice. Basically it is all relative to your credit profile.
@Anonymous wrote:
Hi, everybody. I have been lurking around here for a few months and I have learned alot. I have one question, I app discover on a pre screened offer on 8-30-09 and got the 5-7 day message, thought sure I was getting denied. I received a call from discover today and found out that I was approved for 5000 CL. is this a good starting CL or is it just ok ?
Its very good. Consider yourself fortunate. Most start with an initial CL of $2500.
@cobaltnv wrote:Discover is not known for high starting limits. I would say a $5k CL is good in this credit climate.
I suppose, the question of what a good limit is depends on the individual. If you have lots of $10k+ credit limits $5k may not seem like much, but if you have a bunch of $1.5k cards then $5k is quite nice. Basically it is all relative to your credit profile.
+1
Well said.
ETA: Congratulations!
@Anonymous wrote:
Hi, everybody. I have been lurking around here for a few months and I have learned alot. I have one question, I app discover on a pre screened offer on 8-30-09 and got the 5-7 day message, thought sure I was getting denied. I received a call from discover today and found out that I was approved for 5000 CL. is this a good starting CL or is it just ok ?
Welcome to the forums and congrats on your approval!
It is quite good. Very, very few folks do better than this.
What are your two highest other CL's?
@Anonymous wrote:
1- 1500 Dell 1- 2600 chase 1-8500 wamu/chase 1-2000 chevron. I app discover just in case chase does something stupid.
If you didn't have that Chase CL reporting Discover would have never given you $5K. Now you have to hit up Discover for a CLI throught the phone in about six months or so.
Congrats.
$5k is pretty good. I do think that Discover is stingy on their limits. I have had their card for many, many years, have excellent credit, and they are my lowest limit card at $7200. Granted, I have never asked for a CLI but, I've never asked for one from any other card either and I have up to $17500 CL.
@Anonymous wrote:Congrats.
$5k is pretty good. I do think that Discover is stingy on their limits. I have had their card for many, many years, have excellent credit, and they are my lowest limit card at $7200. Granted, I have never asked for a CLI but, I've never asked for one from any other card either and I have up to $17500 CL.
Auto CLI's are becoming rarer. Many issuers are at least making you go through some formality of asking. A lot of it is very passive. If you're interest in a Discover CLI look at my recent thread "Discover CLI". All the details are there. It is easy.