No more Toy Limits Plan for 2016

[CreditMagic7]

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@Anonymous wrote:
When you had it out with Discover what was their response? Im curious If you dont mind sharing

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I don't want to hijack OP's thread so this is all i can add if it's of any help.

Quite pleasant actually. The first call was met with the usual boring routine jargon but after ending that one and calling again i got hold of someone with access to retention/credit dept and just let my frustrations be known.

I plainly stated that i understand why no cli now for nearly 2 years is because they marketed me early on in my credit journey when the credit file was severely weak and that was why the terms were lousy to begin with.

I further explained that it's become obvious, that there's a much higher chance for much better terms and limit if i close out this current (subprime) discover card in good standing whereby their marketing dept will likely consider my current credit data in addition to historical useage/payments ratio on any future offers.

But i will never cold app this lender for any reason. Personal preference.

[Imperfectfuture]

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@CreditMagic7 wrote:

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@Anonymous wrote:
When you had it out with Discover what was their response? Im curious If you dont mind sharing

---

I don't want to hijack OP's thread so this is all i can add if it's of any help.

Quite pleasant actually. The first call was met with the usual boring routine jargon but after ending that one and calling again i got hold of someone with access to retention/credit dept and just let my frustrations be known.

I plainly stated that i understand why no cli now for nearly 2 years is because they marketed me early on in my credit journey when the credit file was severely weak and that was why the terms were lousy to begin with.

I further explained that it's become obvious, that there's a much higher chance for much better terms and limit if i close out this current (subprime) discover card in good standing whereby their marketing dept will likely consider my current credit data in addition to historical useage/payments ratio on any future offers.

But i will never cold app this lender for any reason. Personal preference.

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Discover just reported loss for last quarter.  They may be targeting those folks on purpose, higher apr, not the best offers, etc,

Dunno about dumping and re apping, that is starting to sound like cap one strategy.

[newhis]

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@Imperfectfuture wrote:

Discover just reported loss for last quarter.  They may be targeting those folks on purpose, higher apr, not the best offers, etc,

Dunno about dumping and re apping, that is starting to sound like cap one strategy.

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I keep getting offers in the mail and I have the card. I asked 2 times in the last 6 months, and they said that you can have 2 Discover IT cards.

What should be better. Close the current card, wait a few months and apply again, or apply while having the current "not-so-great" card, then close it?

[1GaDawg85]

I would dump and re-apply

[merlinflex]

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@CreditMagic7 wrote:

Very cohesive plan that will yield even more solid results. Good Job!

I forsee me! having to dump Discover from the Prime CC list and 1 Comenity plus Amazon Store from the Store Card list here.

I laid it straight out on the table with Discover Reps this morning in a nutshell, as in why bother with a HP for some mediocre CLI bump with them when their own competitors are already on their offering of preapproved 2nd! cards with much more respectable and useful limits out-of-the-gate.

Already dumped crap1 and have no interest in risking another subprime result from Discover. Cut loose another Comenity just last night. Over $6K of store cards have been jettisoned so far and no harm to either Utility or AAOA.

Toy Limits take way too much time to grow anyway and never can keep pace with Prime.

Congrats! on determining your strategy and seeing it thru with the expectations that you set.

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AGREE!!!

I actually want fewer credit cards with higher limits.  Easier to manage, less risk of going over 20-30% UTIL at any given time.

NO need to make a mad dash home and pay the same day I make a charge so that I stay under a certain UTIL score.

I  would prefer to spend time with my kids and doing things than worrying that the charge I just made "may" put me over some secret internal risk metric and that all the CCC's are going to initiate the dreaded FR at the SAME TIME on me for this reason or that reason.

[TRC_WA]

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@merlinflex wrote:

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@Callandra wrote:

$5700 is a toy limit? 

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For me, yes, it is too small of a limit.  Again, just me.

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Thanks for letting us know.

You could have posted a "I am a big boy with $15k limits" TLDR version ya know...

Just so we won't waste our time reading a thread with the word "toy" in the description because that description wasn't accurate for 95% of the myFico users out there.. including me. 

[CreditMagic7]

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@merlinflex wrote:

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@CreditMagic7 wrote:

Very cohesive plan that will yield even more solid results. Good Job!

I forsee me! having to dump Discover from the Prime CC list and 1 Comenity plus Amazon Store from the Store Card list here.

I laid it straight out on the table with Discover Reps this morning in a nutshell, as in why bother with a HP for some mediocre CLI bump with them when their own competitors are already on their offering of preapproved 2nd! cards with much more respectable and useful limits out-of-the-gate.

Already dumped crap1 and have no interest in risking another subprime result from Discover. Cut loose another Comenity just last night. Over $6K of store cards have been jettisoned so far and no harm to either Utility or AAOA.

Toy Limits take way too much time to grow anyway and never can keep pace with Prime.

Congrats! on determining your strategy and seeing it thru with the expectations that you set.

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AGREE!!!

I actually want fewer credit cards with higher limits.  Easier to manage, less risk of going over 20-30% UTIL at any given time.

NO need to make a mad dash home and pay the same day I make a charge so that I stay under a certain UTIL score.

I  would prefer to spend time with my kids and doing things than worrying that the charge I just made "may" put me over some secret internal risk metric and that all the CCC's are going to initiate the dreaded FR at the SAME TIME on me for this reason or that reason.

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Ha hah I could not agree more!

All The Best! CM7

[Involver]

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@merlinflex wrote:

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@CreditMagic7 wrote:

Very cohesive plan that will yield even more solid results. Good Job!

I forsee me! having to dump Discover from the Prime CC list and 1 Comenity plus Amazon Store from the Store Card list here.

I laid it straight out on the table with Discover Reps this morning in a nutshell, as in why bother with a HP for some mediocre CLI bump with them when their own competitors are already on their offering of preapproved 2nd! cards with much more respectable and useful limits out-of-the-gate.

Already dumped crap1 and have no interest in risking another subprime result from Discover. Cut loose another Comenity just last night. Over $6K of store cards have been jettisoned so far and no harm to either Utility or AAOA.

Toy Limits take way too much time to grow anyway and never can keep pace with Prime.

Congrats! on determining your strategy and seeing it thru with the expectations that you set.

---

AGREE!!!

I actually want fewer credit cards with higher limits.  Easier to manage, less risk of going over 20-30% UTIL at any given time.

NO need to make a mad dash home and pay the same day I make a charge so that I stay under a certain UTIL score.

I  would prefer to spend time with my kids and doing things than worrying that the charge I just made "may" put me over some secret internal risk metric and that all the CCC's are going to initiate the dreaded FR at the SAME TIME on me for this reason or that reason.

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You are worrying WAAAAAAY too much.

About everything.

Score fine tuning only matters when you're going to apply for a mortgage or car.

Your lenders aren't going to AA you for reporting even 80% util in a given month.

[CreditMagic7]

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@Involver wrote:

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@merlinflex wrote:

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@CreditMagic7 wrote:

Very cohesive plan that will yield even more solid results. Good Job!

I forsee me! having to dump Discover from the Prime CC list and 1 Comenity plus Amazon Store from the Store Card list here.

I laid it straight out on the table with Discover Reps this morning in a nutshell, as in why bother with a HP for some mediocre CLI bump with them when their own competitors are already on their offering of preapproved 2nd! cards with much more respectable and useful limits out-of-the-gate.

Already dumped crap1 and have no interest in risking another subprime result from Discover. Cut loose another Comenity just last night. Over $6K of store cards have been jettisoned so far and no harm to either Utility or AAOA.

Toy Limits take way too much time to grow anyway and never can keep pace with Prime.

Congrats! on determining your strategy and seeing it thru with the expectations that you set.

---

AGREE!!!

I actually want fewer credit cards with higher limits.  Easier to manage, less risk of going over 20-30% UTIL at any given time.

NO need to make a mad dash home and pay the same day I make a charge so that I stay under a certain UTIL score.

I  would prefer to spend time with my kids and doing things than worrying that the charge I just made "may" put me over some secret internal risk metric and that all the CCC's are going to initiate the dreaded FR at the SAME TIME on me for this reason or that reason.

---

You are worrying WAAAAAAY too much.

About everything.

Score fine tuning only matters when you're going to apply for a mortgage or car.

Your lenders aren't going to AA you for reporting even 80% util in a given month.

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I don't think OP has any worries at all but more importantly came to the same realization that we all have run up against before.

Fine tuning for best terms n limits with prime lending is a much better aspiration that yields better results.

Toy Limits might not mean much in a first year scenario but it CAN definitely interfere with your progress later if not dealt with.

[Involver]

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@CreditMagic7 wrote:

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@Involver wrote:

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@merlinflex wrote:

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@CreditMagic7 wrote:

Very cohesive plan that will yield even more solid results. Good Job!

I forsee me! having to dump Discover from the Prime CC list and 1 Comenity plus Amazon Store from the Store Card list here.

I laid it straight out on the table with Discover Reps this morning in a nutshell, as in why bother with a HP for some mediocre CLI bump with them when their own competitors are already on their offering of preapproved 2nd! cards with much more respectable and useful limits out-of-the-gate.

Already dumped crap1 and have no interest in risking another subprime result from Discover. Cut loose another Comenity just last night. Over $6K of store cards have been jettisoned so far and no harm to either Utility or AAOA.

Toy Limits take way too much time to grow anyway and never can keep pace with Prime.

Congrats! on determining your strategy and seeing it thru with the expectations that you set.

---

AGREE!!!

I actually want fewer credit cards with higher limits.  Easier to manage, less risk of going over 20-30% UTIL at any given time.

NO need to make a mad dash home and pay the same day I make a charge so that I stay under a certain UTIL score.

I  would prefer to spend time with my kids and doing things than worrying that the charge I just made "may" put me over some secret internal risk metric and that all the CCC's are going to initiate the dreaded FR at the SAME TIME on me for this reason or that reason.

---

You are worrying WAAAAAAY too much.

About everything.

Score fine tuning only matters when you're going to apply for a mortgage or car.

Your lenders aren't going to AA you for reporting even 80% util in a given month.

---

I don't think OP has any worries at all but more importantly came to the same realization that we all have run up against before.

Fine tuning for best terms n limits with prime lending is a much better aspiration that yields better results.

Toy Limits might not mean much in a first year scenario but it CAN definitely interfere with your progress later if not dealt with.

---

I  would prefer to spend time with my kids and doing things than worrying that the charge I just made "may" put me over some secret internal risk metric and that all the CCC's are going to initiate the dreaded FR at the SAME TIME on me for this reason or that reason.

This sounds like worry to me.