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Frequent Contributor
MrChairman
Posts: 461
Registered: ‎02-07-2010
0

Fed Up With Discover!

I have had my Discover card for a little over a year now! I have put THOUSANDS of dollars through it. Redeemed rewards, ect and still get denied for a CLI every time I call. My scores are all in the 660ish range. My highest CL is military star at about 9k. What do I have to do to get these guy to give me a CLI. I believe I am more than deserving of one!


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

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Regular Contributor
BP2003
Posts: 139
Registered: ‎05-19-2008
0

Re: Fed Up With Discover!

Try this on for size (and I don't mean to topic jack).

 

I've had my Discover More card since Oct 2009.  Started with a CL of $1800, 6 mos. later increased to $2300.  I purchased a home 3 months after getting the card.  I purchased the home knowing it needed several repairs, but thought I'd have time to make repairs at my convenience.  Well, I ended up having to replace a bathroom floor (joist, subfloor, tiling and all), have mold remediated because of leaking A/C unit, and replace that A/C unit.  All together, about $20K in repairs.

 

Well, last year at about this time, I used some available credit (in addition to Discover, I used a CITI, Cap1, Chase, BoA, AMEX and Credit Union Card) to pay for these repairs and other misc expenses, while building up savings.  All the while NEVER missing a single payment on anything ( I haven't had a 30-day late in 4 years; when I was paying for grad school out of pocket).  Anyway, I was carrying some balances for approx 6 months (about $16K of $19.3K...yea I know; high util).  Well between savings and after doing pretty well this tax season, I've been able to knock out about half of that revolving debt (completely paid off the Chase, BoA, Discover, AMEX and Credit Union Card). I have about $8K left between my CITI & Cap1

 

5 days later, I get a letter from Discover asking me to call in for a "portfio review".  I explain to them all of the above information, and the fact that the CRAs have yet to update yet....and what do they do?!?!!?!?

 

Reduce my CL from $2300 to $500!!!!!!!!  They basically cited my high util.

***From ashy to classy***
Valued Contributor
thrasher865
Posts: 1,157
Registered: ‎05-21-2008
0

Re: Fed Up With Discover!

 


MrChairman wrote:

I have had my Discover card for a little over a year now! I have put THOUSANDS of dollars through it. Redeemed rewards, ect and still get denied for a CLI every time I call. My scores are all in the 660ish range. My highest CL is military star at about 9k. What do I have to do to get these guy to give me a CLI. I believe I am more than deserving of one!


I think 660 is a little low for Discover's liking.  Your usage sounds like what Discover likes to see.  I bet once your scores get back around 700 that they will CLI you.  What is your TU score?  That seems to be their favorite CRA to pull.

 


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Established Contributor
wollepopolle
Posts: 545
Registered: ‎09-12-2010
0

Re: Fed Up With Discover!

The stories provided here show clearly that we should never really regard our available credit as a "buffer." Banks get scared and will take it away from us as soon as they don't like anything about us.

This is nothing personal but I hate to hear people talk about what "Discover would like to see" from us. For all I care, I use them for their 5% cashback categories. I play their stupid sign-up game. But that's about it. Discover is not necessarily a card that will grow with you as others. Their CL is by far the lowest that I have of all of my available cards, half of what even Cap One gave me. My six month anniversary passed and my CL is still at the initial $3500 even though I charge about $500 every month and pay it off.

 

 

Frequent Contributor
MrChairman
Posts: 461
Registered: ‎02-07-2010
0

Re: Fed Up With Discover!

As soon as my promo APR of 1.9% runs out, it won't see much love unless I get a decent CLI within the coming months.


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

Take the FICO Fitness Challenge
Valued Contributor
thrasher865
Posts: 1,157
Registered: ‎05-21-2008
0

Re: Fed Up With Discover!

 


wollepopolle wrote:

The stories provided here show clearly that we should never really regard our available credit as a "buffer." Banks get scared and will take it away from us as soon as they don't like anything about us.

This is nothing personal but I hate to hear people talk about what "Discover would like to see" from us. For all I care, I use them for their 5% cashback categories. I play their stupid sign-up game. But that's about it. Discover is not necessarily a card that will grow with you as others. Their CL is by far the lowest that I have of all of my available cards, half of what even Cap One gave me. My six month anniversary passed and my CL is still at the initial $3500 even though I charge about $500 every month and pay it off.

 

 


 

This is a YMMV type deal.  Discover has been the only card that has "grown with me"

 

I got an initial $2500 CL that is now at $5300 after two years.  I have never asked for a single CLI from any of my card issuers, because I don't need it, but Discover is the only issuer (besides my bank) that has given me an unsolicited CLI, and they've given me 3.  I bet I could squeeze more out of it if I actually asked for CLIs.

 

I just re-read, you're mad that you're at your initial limit after only 6 months?  Some people on this board are hard to please.  Discover is stingy initially, by all accounts on this board, but they've been my highest CL for a while.  If you keep using it a lot like you've said you do, I have no doubt that you will get your auto-CLI.  In fact, if it's been 6 months exactly, you may get one around your next statement.  I don't mean to get your hopes up.

 

I agree that we should be wary of relying on CCs as emergency funds.  I think the credit world has reverted back to the days when charge cards ruled the market, at least temporarily.  Credit cards should never be regarded as long term loans.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Frequent Contributor
MrChairman
Posts: 461
Registered: ‎02-07-2010
0

Re: Fed Up With Discover!

I've had the card for over a year as stated in my original post.


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

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Valued Contributor
thrasher865
Posts: 1,157
Registered: ‎05-21-2008
0

Re: Fed Up With Discover!

[ Edited ]

Sorry, that comment was directed at the poster I quoted.

 

Like I said, Discover is really timid.  I bet if your score was back in the 700s, or close, they would give you that CLI.

 

They don't usually approve scores in the 660s.  Can I ask what made your score drop?


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Frequent Contributor
MrChairman
Posts: 461
Registered: ‎02-07-2010
0

Re: Fed Up With Discover!

I got a new auto loan in August. And apped for 3 new cards in Nov and Dec. So I'm sure AAoA and the inq are the reason. No cc balances.


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

Take the FICO Fitness Challenge
Frequent Contributor
ficonightmare
Posts: 423
Registered: ‎10-25-2010
0

Re: Fed Up With Discover!

This is a perfect example of  how "YMMV".

 

You've done everything you're supposed to do with a CC. Use it and pay on time. Since they still see something they don't like, that's not your problem. Just realize that this is a company that may not work for you.

 

Don't sweat it. Use the card for purchases it rewards you on and that's it. Get your scores up a little higher and once you've had no inquiries for at leat a year, app for something else.

 

 

 

 


Starting Score: 600s
Current Score: EQ 08 798 on 5/28/14, TU 792 on 5/27/4 via Barclay, EX 798 on 5/28/14
Goal Score: 760


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