cancel
Showing results for 
Search instead for 
Did you mean: 

Whats your Discover card credit limit?

Contributor

Re: Whats your Discover card credit limit?

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

Message 121 of 197
Frequent Contributor

Re: Whats your Discover card credit limit?

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. 

Gardening from 6/2017 to ??
Still gardening at 1/2018
Message 122 of 197
Contributor

Re: Whats your Discover card credit limit?

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.

 


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. 


 



STATUS: Gardening since November 2017 (until May 19, 2018)
GOAL: Chase Sapphire Preferred
CURRENT FAVORITE CARD: Chase Amazon Prime Visa Signature
Message 123 of 197
Contributor

Re: Whats your Discover card credit limit?

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. Smiley Mad

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.

Amex BCP | NFCU GoRewards | FNBO TravElite | Fidelity Rewards | Capital One Quicksilver
In Sock Drawer: Barclaycard Arrival, Discover it
FICO 08 as of February 2018 - EX767, EQ767, TU806
Message 124 of 197
Valued Contributor

Re: Whats your Discover card credit limit?

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....

 

Message 125 of 197
Valued Contributor

Re: Whats your Discover card credit limit?

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......

 

Message 126 of 197
Community Leader
Super Contributor

Re: Whats your Discover card credit limit?

Good point JoltSmiley Happy I'll have to remember that for future possibilitiesSmiley Wink
To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 127 of 197
Community Leader
Super Contributor

Re: Whats your Discover card credit limit?

Cool, myFico is slowly turning me into Average Joe Transactor Smiley Happy
To obtain Credit One Kenobi status upon 0/24 is to Garden Harden!!
Message 128 of 197
Frequent Contributor

Re: Whats your Discover card credit limit?

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).

2019 Goal: 800+ (the 30-day late drops in Q1 2019)
2018 Goals: garden, 750+, garden, put away 3 months' savings, garden, CO Savor/QS, garden
AX BCE, BoA Travel Rewards VS, Barclay Ring MC, Chase SP VS, Citi DC WEMC, Citizens Bank CBP WMC, Discover it

EX is the canary in my coal mine.

EQ7486 INQ (3 CC, 2 mort, 1 auto)
EX7177 INQ (3 CC, 2 HELoan, 2 mort)
TU8005 INQ (3 CC, 2 mort)
4/24 < 8% AAoA 94-100m | AoYA 2m | AoOA 18y
Take the myFICO Fitness Challenge
Gardening 'til at least August 2018.
Message 129 of 197
Contributor

Re: Whats your Discover card credit limit?


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......

 


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.

Amex BCP | NFCU GoRewards | FNBO TravElite | Fidelity Rewards | Capital One Quicksilver
In Sock Drawer: Barclaycard Arrival, Discover it
FICO 08 as of February 2018 - EX767, EQ767, TU806
Message 130 of 197