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Valued Contributor
Posts: 1,844
Registered: ‎11-20-2016
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Should I be concerned about Disco Cash limit?

I have a $2200 limit but only a $50 cash limit. This seems VERY small compared to most. I read others who just get approved and have maybe a 25-50% cash limit compared to their regular limit.
Does this mean they see something they don't like?

I would never use it anyway... especially since Discover lets you get cash back on purchases at the regular APR but it worries me.

My history:
$200 secured card
Increased to $1000 with additional deposit
Unsecured/Graduared day of my 7th Statement
Auto CLI to $1750 in the same email as graduation
Hit button same day and went to $2200

Cash limit has always stayed at $50

Anyone else have this? Should I be concerned? TIA
FICO 08: TU= 786 (May) EQ= 774 (May) EX= 706 (May) Recent Approvals:Huntington Voice $12k/Amex PRG-NPSL Favorites: Discover It, USB Cash+, Amex PRG
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Re: Should I be concerned about Disco Cash limit?

[ Edited ]

My Discover cash limit % is small compared with my other cards. Limit is $30,800 with cash limit of $2,400. It has grown slowly. My card was only 2k when opened years ago. Hmm, I wonder what my cash access limit was back then. I know it hasn't risen over my last few cli's.

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Posts: 477
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Re: Should I be concerned about Disco Cash limit?

My CL is 44K, but my CB limit is only 3300. Not concerned as I have no intention of using it.


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Valued Contributor
Posts: 2,443
Registered: ‎03-20-2014
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Re: Should I be concerned about Disco Cash limit?

DW started with student card: $500 SL and $0 CB almost 3 years ago, today $12,000 and $0 CB.

 

Established Contributor
Posts: 531
Registered: ‎02-05-2016
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Re: Should I be concerned about Disco Cash limit?

my card was secured at $800 with a $50 cash advance limit, unsecured to $1750, stayed at $50, and then got a CLI to 5,700 and it went to $100 cash advance


FICO8s: EX: 660 EQ:654 TU:658 Last HP: 5/7/2017 | Beginning scores in Dec 2014: 530s | Oldest Account 6.5 years AAoA: 2 years | 2 COs 1 CA from 10/13
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Registered: ‎10-03-2008
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Re: Should I be concerned about Disco Cash limit?

[ Edited ]

In looking at many posts, Discover seems to set most cash limits at $2500. It may take a few years and then it seems to top out there. Like everything with Discover, there are many exceptions. My card opened in 2011 and topped at $2500.

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Re: Should I be concerned about Disco Cash limit?

[ Edited ]

Taking a cash advance on a credit card is only for the financially desperate or financially stupid anyway; I know at least one bank absolutely is aware of that and that's been pretty common knowledge out in consumer land for lenders in general, so I would highly discourage taking one except as an option of last resort.

 

Discover /shrug as that card only gets used for 5% anyway... but if you have a default spender like Chase FU or similar, put that cash advance limit down as small as possible so when you try to pay for something a little squirrley that may or may not be counted as a cash advance, it'll reject it and you can do something else instead.

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Re: Should I be concerned about Disco Cash limit?

I don't think it matters I would not use it so it is just a number that is there.

 

My card was also secured I started out at $200 with a $50 Cash limit... When I graduated they bumped me up to $500 and my cash limit stayed $50... Then a few days ago I requested an increase they upped my limit to $1,500 then raised the cash limit to $200..... I do not know if knowing all of this helps or not this was just my experience.

 

Congrats on your graduation and increases! 

AAOA 1 year Fico 08's 738 739 703
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Posts: 495
Registered: ‎02-15-2016
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Re: Should I be concerned about Disco Cash limit?

I do not think the cash advance limit affects how much cash over you can get at checkout, although, I may be wrong.

AAOA 1 year Fico 08's 738 739 703
Regular Contributor
Posts: 209
Registered: ‎10-04-2016
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Re: Should I be concerned about Disco Cash limit?

When I opened my card I had a credit line of $1500 and access to $800 cash. Cash limit hasn't changed though the credit line was bumped up.


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