Whats your Discover card credit limit?

[dumaine]

Opened 4/2013 with 2k limit. Currently at 9k with a 743 TU.  

[Anonymous]

So discover doesn’t like transactions, swipes? I never carry a balance and have only let a statement cut with more than zero maybe 3 times. And payed as soon as it cut. Got card dec 2017. Starting limit 3000. It is now up to 11,200. 

All requested by me each given just over 3 months from the last cli. 

Although I have made a conscious decision that once I hit 10,000 I won’t ask anymore. Last cli put me over that so I’m done asking. 

Anyways I was just shocked to read they don’t like transactions. 

[Anonymous]

In the article they basically said that transactors aren't the demographic they focus on and/or trying to reach. Their target demographic are people who carry balances. So many people take that as, why would a creditor give favors (i.e. the better CLIs) to the customers that aren't their target. That's not to say that the transactors won't get anything we just aren't their priority.

Basically Discover wants you to carry a balance for the off chance that you don't pay everything off before interest kicks in. Citi apparently is the same way according to the article. Discover isn't focused on swipe fees like AMEX and Chase are, they are hungry for you to pay interest on your balances.

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wrote:

So discover doesn’t like transactions, swipes? I never carry a balance and have only let a statement cut with more than zero maybe 3 times. And payed as soon as it cut. Got card dec 2017. Starting limit 3000. It is now up to 11,200. 

All requested by me each given just over 3 months from the last cli. 

Although I have made a conscious decision that once I hit 10,000 I won’t ask anymore. Last cli put me over that so I’m done asking. 

Anyways I was just shocked to read they don’t like transactions. 

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[Jetboy]

Current TU FICO 08 score per there website 806.

Got card february 2016 so it is two years old right now.

Starting limit was 500.00 with a dirty file.

TU now has zero baddies as of 2 months ago.

After 12 months of no cli I got a 300.00 cli this week.

Current limit is now 4,100.00. Spend put on card in 2017 was 3,800.00 and I always PIF.

I am not sure what to think of Discover so for now it is in the sock drawer.

[joltdude]

They also seem to like a sizable balance being paid off over time... even at 0% apr... or 0% on new purchases for 12 mos...

Might want to consider using Disco for a BT or so if you need one....

[joltdude]

The other thing that most folks do not realize is that transactors may not be as profitable or a target audience but they tend to stablize their account portfolio... because transactors tend not to default.. and the cc companies know this... so it still is in their best interest to throw these folks a carrot every once in awhile.... Should also look on here for threads regarding Asset Backed Securities... it will explain some of their behaviors......

[AverageJoesCredit]

Good point Jolt I'll have to remember that for future possibilities

[AverageJoesCredit]

Cool, myFico is slowly turning me into Average Joe Transactor

[expatCanuck]

I acquired the card 2 months ago -- they gave me a 15K CL.  I countered with 12K.

(Yes, you read that right.  I didn't want quite so much.  Called Disco and requested that they reduce the line.

I have twice the credit that I had 2 months ago, and am a little unnerved by it.)

TU FICO 8 was, I believe, 778 when I applied (late December), and is 798 per Disco's 30-Jan data. 

(Per MyFICO, it's 807 as of 8-Feb).

[Jetboy]

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wrote:

The other thing that most folks do not realize is that transactors may not be as profitable or a target audience but they tend to stablize their account portfolio... because transactors tend not to default.. and the cc companies know this... so it still is in their best interest to throw these folks a carrot every once in awhile.... Should also look on here for threads regarding Asset Backed Securities... it will explain some of their behaviors......

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I have read the thread regarding Asset Backed Securities. And I have read about revolvers vs transactors. So I should not be supervised at my situation with Discover. I will see if I can get my card up to 5K and call it a day with them. I do like that cash back can be deposited to bank account via ACH and for that reason I will keep it and use it for the 5% cash back on the restaurant's. Sock drawered until then. Heavy spend will go on other cards.