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02-14-2009 06:59 PM
02-14-2009 07:11 PM
Maybe the right hand just doesn't know what the left is up to.
I received an increase last week from them. It was out of the blue as I had a substantial increase back in the fall and this is just not in keeping with their practices concerning increases.
I'm thinking some of the banks are loosening the grip as I have had a couple other increases in the past two weeks.
Maybe it was just your turn.
Three weeks ago I bought an elliptical and used up 2300 of my 2600 Discover credit line. I've never qualified for increases when I've asked in other years but I thought I would try and call to request an increase so it wouldn't look like I was maxing out. The rep seemed understanding but I was immediately refused and got the letter in the mail a few days later with their reasons why. So, I paid off some of it off pretty quickly and moved some around to another card to prevent my scores from being affected too much. Then in this afternoon's mail I got a congratulations letter saying my limit is now 3600. Not sure why this was all of a sudden possible for them, no change in score or reports occurred since my original request.
02-14-2009 07:54 PM
I recently noticed a credit limit decrease for myself on one account online (not a Discover card), and when I went to the "ask for an increase" section of the website, I got the increase back once more. I like to try to keep limits high, because they impact your credit score. If you used 2300 of a 2600 limit, that would have a rather negative impact on your credit score as a single transaction, lowering your score. Keep track of individual card limits, as well as overall limits. If you are a good steward with your usage of credit, keep the limits as high as possible, and try to balance out the usage, not too close to maximum limits between all of them.
If you ever were to see the multitude of reason statements that go out on credit reports, you would have a rather good foundation of what affects credit scores, too much credit usage, too little credit usage, too close to limit on one account, too close to limit all accounts combined, etc., too little credit history, too many open accounts, too few open accounts, the list doesn't stop, and there doesn't seem to be any middle ground, either.
02-14-2009 10:22 PM
02-15-2009 03:44 AM
Two of my Citicards gave me CLIs. Haven't seen one from Discover yet, but I asked for and received one about 5 months ago.
reportedly discover reviews for cli every 6 months or so.
02-15-2009 04:01 PM
overall I'm really happy w/discover, it's my oldest card and they worked with me a few years back to avoid any late payments when I was having problems. And they usually raise my limit a very little every september. This increase just seemed like odd timing especially after refusing my request just three week earlier. Thanks for the feedback everyone!