topic Re: Discover IT Approval with $4,500 SL - HP from Experian in Credit Card Approvals

Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 06:06:02 GMT

I was looking to add another credit card to my ever growing list of CC's. I decided to look at Discover Cards and see which one would be a good fit for me and I settled on the Discover IT. I had a Discover Card about 9 years ago and because back then I was an irresponsible kid, I defaulted on it and the account went to collections. I ended up paying off the collections years later and it was removed from my credit report shortly after. I was worried that Discover might still remember that instance and either deny me or start me with a low SL when I applied for a new credit card with them. My fingers were crossed !!

Tonight I went to their website and was preapproved for the Discover IT and Discover Chrome Cards. My income is around $90k/yr and I'm at 9% util with available credit of $153,000. My credit scores are: Transunion 780, Equifax 766, Experian 795...

When I applied I was asked to provide a copy of my DL, front and back, and a copy of my SS Card, for verification purposes. I submitted them and was then asked to call in to finalize the credit card application. After about a 6-7 minute wait on the phone with a helpful Discover Rep, I was approved for a $4,500 SL with a HP from Experian which resulted in a 7 point drop from 795 to 788. I was a bit confused as to why the starting line was so small but I was nevertheless happy to regain the relationship with a past bank in which I owed.

I hear Discover Cards can grow fairly quickly so I hope in a year or so I will be upwards of $10-15k with this card.

Does anyone have personal experiences of growing their Discover IT card in a short period of time. Feedback would be very much appreciated.

Thanks !

Re: Discover IT Approval with $4,500 SL - HP from Experian

LakeLife — Sat, 13 Apr 2019 12:08:44 GMT

Congrats on the approval! I've had my Discover card since 2011 and just recently was approved for a CLI. Before that they had given me two automatic CLIs over the years. The recent CLI was the first I had ever asked for. The automatics came when I was close to my CL and using the card heavily and my FICO scores were running from the high 600s to low 700s. From what I understand on this forum is that Discover can be hit or miss.

Re: Discover IT Approval with $4,500 SL - HP from Experian

AverageJoesCredit — Sat, 13 Apr 2019 12:13:41 GMT

Congrats. Ill have to disagree that 4.5 is a small sl as many of us here get lower and make it work. There is no magic button to make it grow faster but perhaps give it heavy spend so they see you need more. Youll know what kind of bucket you are in once you start getting cli. Good luck

Re: Discover IT Approval with $4,500 SL - HP from Experian

gdale6 — Sat, 13 Apr 2019 14:22:23 GMT

grats on the new Discover. 9% of 153K is still a lot of reported revolving debt even on your income level.

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 15:02:38 GMT

@LakeLife wrote:
Congrats on the approval! I've had my Discover card since 2011 and just recently was approved for a CLI. Before that they had given me two automatic CLIs over the years. The recent CLI was the first I had ever asked for. The automatics came when I was close to my CL and using the card heavily and my FICO scores were running from the high 600s to low 700s. From what I understand on this forum is that Discover can be hit or miss.

Thanks for your feedback. I'm pretty active on each credit card that I use and always either PIF at months end or keep around a 5-10% balance at statement time. I'm gonna keep that same pattern with my new Discover card and ask for increases every 6 months. I'll keep you posted on my journey ! ( Fingers Crossed )

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 15:03:01 GMT

Congrats on the approval! I love Disco and for some reason it's my favorite app with awesome customer service as well.

Enjoy the new digs!!! Cheers!

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 15:06:59 GMT

@gdale6 wrote:
grats on the new Discover. 9% of 153K is still a lot of reported revolving debt even on your income level.

I just recently added about $4k to my balances which brought me to 9% used because I am getting married and I wanted to capitalize on the rewards. Hopefully by June I will be back down to 4-5% utilization. Thanks for your feedback @gdale6.. ( Fingers Crossed )

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 15:16:37 GMT

@LakeLife wrote:
Congrats on the approval! I've had my Discover card since 2011 and just recently was approved for a CLI. Before that they had given me two automatic CLIs over the years. The recent CLI was the first I had ever asked for. The automatics came when I was close to my CL and using the card heavily and my FICO scores were running from the high 600s to low 700s. From what I understand on this forum is that Discover can be hit or miss.

I appreciate the feedback. What was your SL and what were the increase amounts for the automatic CLI's and the one you asked for.

Re: Discover IT Approval with $4,500 SL - HP from Experian

macinjosh — Sat, 13 Apr 2019 15:49:37 GMT

@Anonymous wrote:
I was looking to add another credit card to my ever growing list of CC's. I decided to look at Discover Cards and see which one would be a good fit for me and I settled on the Discover IT. I had a Discover Card about 9 years ago and because back then I was an irresponsible kid, I defaulted on it and the account went to collections. I ended up paying off the collections years later and it was removed from my credit report shortly after. I was worried that Discover might still remember that instance and either deny me or start me with a low SL when I applied for a new credit card with them. My fingers were crossed !!

Tonight I went to their website and was preapproved for the Discover IT and Discover Chrome Cards. My income is around $90k/yr and I'm at 9% util with available credit of $153,000. My credit scores are: Transunion 780, Equifax 766, Experian 795...

When I applied I was asked to provide a copy of my DL, front and back, and a copy of my SS Card, for verification purposes. I submitted them and was then asked to call in to finalize the credit card application. After about a 6-7 minute wait on the phone with a helpful Discover Rep, I was approved for a $4,500 SL with a HP from Experian which resulted in a 7 point drop from 795 to 788. I was a bit confused as to why the starting line was so small but I was nevertheless happy to regain the relationship with a past bank in which I owed.

I hear Discover Cards can grow fairly quickly so I hope in a year or so I will be upwards of $10-15k with this card.

Does anyone have personal experiences of growing their Discover IT card in a short period of time. Feedback would be very much appreciated.

Thanks !

Congrats on getting back in with Discover!

I got my first Discover at the beginning of March 2018 with a starting limit of $4,500. 4 months later they auto CLI’d it to $6,300. In December I hit the luv button and got $500 more. About 2 weeks after my anniversary date this year I hit the luv button again and got bumped up to $10,200. It grows fast with decent to good spend.

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 16:04:16 GMT

Congrats on your approval and very nice SL

Welcome back to Disco Family

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sat, 13 Apr 2019 16:56:25 GMT

BOOM! Congrats! Not a HORRIBLE SL.... it’ll grow...

Re: Discover IT Approval with $4,500 SL - HP from Experian

LakeLife — Sat, 13 Apr 2019 16:56:41 GMT

@Anonymous wrote:
@LakeLife wrote:
Congrats on the approval! I've had my Discover card since 2011 and just recently was approved for a CLI. Before that they had given me two automatic CLIs over the years. The recent CLI was the first I had ever asked for. The automatics came when I was close to my CL and using the card heavily and my FICO scores were running from the high 600s to low 700s. From what I understand on this forum is that Discover can be hit or miss.
I appreciate the feedback. What was your SL and what were the increase amounts for the automatic CLI's and the one you asked for.

I wish I could remember, but I didn't keep track of such things back then. I seem to remember $5k start and a couple of increases of around $1.5k. When I asked for one they gave me around $4.5k.

Re: Discover IT Approval with $4,500 SL - HP from Experian

pinkandgrey — Sat, 13 Apr 2019 18:06:50 GMT

Congrats! An excellent card that will grow HUGE

Re: Discover IT Approval with $4,500 SL - HP from Experian

Anonymous — Sun, 14 Apr 2019 03:24:48 GMT

Congrats and welcome back to Disco!!!! I can say that I started at $5,500 in October 2016 with my First Disco. Today I sit at $21,500. Sometimes lots of use. Other times, little to no use. My salary is sooooooo much less than yours. And I have a BK7 on my reports. My card seemed to grow quite well. Additionally, all increases were CLI requests by me on their website.

Also I received a second card in November 2017 - Starting Limit $1,000. It now sits at $5,000. Again, all CLI were requested by me and little to no spend on this card.

Enjoy your new card. It can grow. But YMMV.

Re: Discover IT Approval with $4,500 SL - HP from Experian

M_Smart007 — Mon, 15 Apr 2019 04:04:13 GMT

Congrats on the Discover IT Approval with $4,500 SL

Re: Discover IT Approval with $4,500 SL - HP from Experian

Marz2002 — Mon, 15 Apr 2019 05:37:33 GMT

YOU...

CONGRATS on your Approval, the Very Nice SL, and Welcome Back to the Disco family!!!

Re: Discover IT Approval with $4,500 SL - HP from Experian

joltdude — Mon, 15 Apr 2019 14:29:02 GMT

Congratulations

BTW 4500 SL from Disco is not *small* for Discover standards.... its actually good enough to say your chances of growth are pretty good...

I'll say something different than many folks.. While you can hit that button as much as you want... At least for the first CLI.. wait for about 3 months + a week. (or basically a few days/week after your third statement)... And see if you get an AUTO cli.... (it will show on your account).... if after that you dont, you can go for the LUV button... Its a soft pull BTW. Your initial CL kinda hints that your Discover was a solid approval not a more iffy one... Yes Disco is one of the more unpredictable lenders but your looking good for auto-luv..... and if you get an auto ... you can try double dipping..... But usually discover wants at least 3 months experience before giving out any CLIs.... And waiting at least a little for possible auto luv can be more rewarding