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Should I be concerned about Disco Cash limit?

Valued Contributor

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 (Dec) EQ= 774 (Dec) EX= 756 (Dec) Favorites: Discover It, Discover Miles, And U.S. Bank Cash+
Message 1 of 18
17 REPLIES
Frequent Contributor

Re: Should I be concerned about Disco Cash limit?

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.

Amex Delta Platinum 6k | Barclaycard Commerce 15k | US Bank Cash+ 18.5k | Barclaycard Arrival+ 20k | Citi Aadvantage Platinum 22k | Capital One Venture 32k | Lowes 35k | Citi Hilton HHonors Reserve 36k | Discover It 37.8k | Bank of America BBR 45k | Amex EDP 50k | Chase Marriott 67k | Amex Platinum NPSL
Message 2 of 18
Frequent Contributor

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.


You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing!
Message 3 of 18
Valued Contributor

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.

 

Message 4 of 18
Established Contributor

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
Message 5 of 18
Super Contributor

Re: Should I be concerned about Disco Cash limit?

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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Message 6 of 18
Moderator

Re: Should I be concerned about Disco Cash limit?

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.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 7 of 18
Established Contributor

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
Message 8 of 18
Established Contributor

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
Message 9 of 18
Regular Contributor

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.

Message 10 of 18