LOL @ Discover - Thanks a lot!

[Anonymous]

Partner and I opened a joint Disocver card 2 weeks ago (mistake) and they gave us a measly $500 limit.  We used it twice, charged up to $350 and paid in full and closed it.  What a joke, considering our limits SEPARATELY are $3,000 - $10,000 each!  The card was probably open 2.5 weeks in all.  I wake up today to Discover reporting as OPEN new acct, with a $350 balance, and a 10 pt score drop!!  I was furious....al;though I did just PIF a few days ago, so I'm sure processing has something to do with that.  Again, open for 2.5 weeks!  Why cant my AMEX with huge CLs report that fast!

So the score drop is not due to AAofA being affected b/c I've opened quite a few new accounts this month, and I check my AAofA each time one posts and the calculation is the same within 1 month or so as variance.  Usually the exact same (here on myFICO).  It obviously is due to the small @ss limit Discover gave us, and showing 70% UTIL on it!!  My overall UTIL is still decent at 33% and will be well uner 15% when AMEX's report.  

Anyway, should I call and dispute this or just let it report next month as closed and $0 bal, no longer being a factoring account and no longer showing the 70% UTIL on one card?  Discover will never get my business again -- first the insult with the paltry CL and then the "promise" it wont report, only to show up today and hurt my score.  Aside, my scores are all 690s now, and partner is 720s-740s.  FICO 8s.   Thanks all!

[Anonymous]

It's aggravating, I know, but as many have said and I am sure you know, your score will recover when reports are updated.I am not sure about calling. Perhaps others have advice about that. So sorry this happened to you, though.

[Anonymous]

Any reason why you opened a joint account with Discover?

They gave me a $500 limit and 4 months later AmEx gave me a $21 k limit.

[Anonymous]

Unless you plan on applying for something major (car loan/mortgage) I don't think it's a big deal right now. It will report correctly soon enough & then your scores will go back to where they should be.

[Anonymous]

Um. Doing a dispute now would be a waste of time for such a low dollar value, and since you opened an account and closed it after only 2.5 weeks, isn't your score going to take a hit anyway?

I know you were expecting to get a card with a higher limit but... well, it would've been worth it to just a ask them to increase the limit.

[taxi818]

Nothing yet worry about. I don't understand the obsession with the limit. I have gotten many cards with 500 limits. And all with in a year reached thousands. If you value the relationship a specific limit is meaningless. No card is a card to do everything.  Honestly op I would have never took a card that required as joint account. I'm used to being denied and they just toll in ft me. I move on. 

[Anonymous]

Tried a CLI. They said no dice until 6 months minimum. Forget it!

And to the third poster- my score didn't take a hit due to the new account as mentioned I checked AAofA - no change. I don't think FICO has a score change specifically for a new account - I think you see a dip due to a change (if any) in AAofA. It dipped due to showing 70% UTIL on such a small limit. Discover I loathe you.

On another note, at least other cc companies seem to show love

[Anonymous]

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@Anonymous wrote:
Tried a CLI. They said no dice until 6 months minimum. Forget it!

And to the third poster- my score didn't take a hit due to the new account as mentioned I checked AAofA - no change. I don't think FICO has a score change specifically for a new account - I think you see a dip due to a change (if any) in AAofA. It dipped due to showing 70% UTIL on such a small limit. Discover I loathe you.

On another note, at least other cc companies seem to show love

---

You're probably right about the score change being caused by the high utilization but the account did affect your AAoA.  By definition if you add any account it will affect your AAoA so it's entirely possible that caused a bit of the score drop.

[Anonymous]

why are you blaming discover? it's your fault honestly. you gripe about the most trivial things i have ever seen. why spend $350 of your $500 on THAT discover instead of your other two? and what? you expect them not to report? come on man get realistic.

[Anonymous]

It's not that I didn't expect them to report oh judgmental one. It's that I didn't expect them to report 2 weeks in while there hasn't even been a full billing cycle.

Seriously with some of you people. Do you have lives or jobs, you take the time out of your day to read a post, insult someone or their post? Get a job or six!!! Utterly ridiculous that people utilize this site to attack people and their choices. I wish there was a block button but ignore works too !

To all the others thank you for input.