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New Member
skidmark
Posts: 2
Registered: ‎06-08-2009

Discover

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 ?
Established Contributor
cobaltnv
Posts: 640
Registered: ‎09-02-2008

Re: Discover

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.

TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

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Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008

Re: Discover


skidmark 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.

Established Contributor
Posts: 742
Registered: ‎12-19-2008

Re: Discover

[ Edited ]

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!

Message Edited by plasticman on 09-01-2009 06:10 PM
Super Contributor
concorduser
Posts: 6,025
Registered: ‎09-18-2007

Re: Discover

Congrats. It is very good. Every time I applied they declined my app. I stopped apping for it. I'll wait another year or two before I apply for Discover again.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Discover

[ Edited ]

skidmark 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?

Message Edited by creditwherecreditisdue on 09-01-2009 09:27 PM
New Member
skidmark
Posts: 2
Registered: ‎06-08-2009

Re: Discover

1- 1500 Dell 1- 2600 chase 1-8500 wamu/chase 1-2000 chevron. I app discover just in case chase does something stupid.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Discover


skidmark 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.
Regular Contributor
PittsburgPamela
Posts: 105
Registered: ‎04-15-2008

Re: Discover

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.

1/10/09 EQ=806, TU=772, EX=788
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Discover


PittsburgPamela 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.

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