topic Re: Discover unOfficial Data Points in Credit Card Applications

Discover unOfficial Data Points

austinguy907 — Sun, 02 Jul 2017 02:33:15 GMT

I'll start with the link to my first year post - http://ficoforums.myfico.com/t5/Credit-Card-Approvals/My-first-year-with-Discover-Data-Points/m-p/4705523

Things that have been trending with Discover lately:

https://www.discover.com/credit-cards/secured/ - $0 AF / $200-$2500 deposit depending on the limit YOU want / rewards on purchases

Secured cards now have a 7th month statement conversion Reviews start per their new policy as of a couple of months ago.

- many posters showing conversion @ 7 months + a week or so after statement with a CLI and refund of deposit

- some posters in the 18-24 month period now getting conversion as well (seems Discover is clearing the backlog of secured cards)

Discover and CLI's:

First one isn't until 90 days unless you see an Auto CLI post to your account and then you can hit the CLI button and more than likely get the remainder of the cash on the table.

Some have reported double dipping on CLIs by calling 800-347-4856 the same day and doubling up on the CLI ( this only works on the instant request and not the 2-day messages)

Someone had a question in another thread regarding when to use the number and I did a little more research and found it's only when you want to bump your instant SP request and not the traditional 2-day message requests. Also, this is their "Lending" group for CLI's if you need to increase the amount over what's offered these are the people that can help do that and it may require a HP to do so depending on their initial review of the SP approval amount.

800-347-4856

Assuming these are EST:

MON-FRI 7AM-12AM
SAT-SUN 8AM-12AM

The rep I talked with today 12/2 was in their SLC UT call center. The call was answered very quickly and just asked to verify DOB and said the CLI was approved, gave the new limit, and said that a supervisor needed to hit the final approval due to the normal reps limited to the CL that they can approve on their own. Typical supervisor approvals after submitted take about a half hour for them to process and show up online. 12/5 It finally showed up and I had success on getting it rouded up from ending with 600 to 000 instead w/o a HP like they mentioned on the call Friday.

Discover and growth / spending:

Unlike other lenders Discover doesn't really like seeing tons of spending and will let you know on a CLI with the "balance escalating" reason code when denying it

Discover will entertain a CLI every 30-90 days depending on your profile; the sweet spot seems to be every other month (60 day intervals)

The card use should be normal useage and not chasing the rewards for an optimal CLI and not the $500 CLI

Discover plays hard to get when applying and you need to play hard to get when using it to maximize your "reward" CLI amount

App Status

ETA: stealing this from another poster for the EO information to contact them.

Cardmembers with concerns regarding their personal credit card account should contact our Executive Office of Customer Advocacy at 1-866-222-0536

ETA: here's a quick link someone posted for checking your 5% spend earnings and any promos you may have on your account currently

https://card.discover.com/cardmembersvcs/promotions/app/myoffers/home

**feel free to tack onto this post as we gather more data about their practices and more people post about their experiences**

Re: Discover unOfficial Data Points

Anonymous — Tue, 29 Nov 2016 22:19:05 GMT

@austinguy907 wrote:

Secured cards now have a 7th month statement conversion per their new policy as of a couple of months ago.
@- many posters showing conversion @ 7 months + a week or so after statement with a CLI and refund of deposit
- some posters in the 18-24 month period now getting conversion as well (seems Discover is clearing the backlog of secured cards)

I wouldn't say they HAVE a 7th month statement conversion ... they now say they're reviewing secured accounts monthly to potentially graduate to unsecured. Not sure at which month they begin the review, but I just had my 8th statement cut and no "unsecured joy" for me yet.

Re: Discover unOfficial Data Points

Anonymous — Tue, 29 Nov 2016 23:08:09 GMT

While 30-90 days apart for CLIs is pretty standard for Discover, I would like to add that some outliers have reported CLIs 21 days apart or perhaps even sooner in some instances.

Re: Discover unOfficial Data Points

happypill — Tue, 29 Nov 2016 23:16:50 GMT

What you're saying about spend in relation to CLI is interesting. I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

Of course, Discover hates me in general. I got a $800 starting limit after I responded to their pre-approval mailer whilet I've had many instant approvals between $10-30k with other cards; and with their paltry CLIs it is my lowest limit card other than a couple of cards from when my credit was in the toilet and I haven't sought CLIs since.

Re: Discover unOfficial Data Points

Anonymous — Wed, 30 Nov 2016 00:06:02 GMT

It has been said in the past that Discover tends to like thinner profiles. From the looks of your sig, you've got over a half deck of cards in your wallet so it's quite possible that Discover doesn't feel they are all too important on your list and your SL and lack of CLIs could very well be a product of that.

Regarding the spend, some have reported getting monster Discover CLIs with very little spend while others have had to spend a good amount. As with almost any creditor, results seem to be very profile-specific.

Re: Discover unOfficial Data Points

Aahz — Wed, 30 Nov 2016 01:03:37 GMT

@happypill wrote:
What you're saying about spend in relation to CLI is interesting. I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

I had the exact opposite experience.

I got my Discover last December. Since then I have exclusively used it in the 5% (10% with doubling) categories, maxing each out in the first month of the quarter then ignoring the card until the next quarter came around. Have received 5 CLIs taking me from $4500 to $14500.

Re: Discover unOfficial Data Points

happypill — Wed, 30 Nov 2016 03:07:01 GMT

@Aahz wrote:
@happypill wrote:
What you're saying about spend in relation to CLI is interesting. I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

I had the exact opposite experience.

I got my Discover last December. Since then I have exclusively used it in the 5% (10% with doubling) categories, maxing each out in the first month of the quarter then ignoring the card until the next quarter came around. Have received 5 CLIs taking me from $4500 to $14500.

Yeah, they've hated me since the beginning when they started me at $800. I don't know about their processes, but I wonder if I started in their "deplorables" bucket where I'm destined to remain forever.

Re: Discover unOfficial Data Points

Anonymous — Wed, 30 Nov 2016 03:12:54 GMT

@happypill wrote:
Yeah, they've hated me since the beginning when they started me at $800. I don't know about their processes, but I wonder if I started in their "deplorables" bucket where I'm destined to remain forever.

It happens, across all creditors IMO. Same thing happened with me with Capital One. I finally threw my QS card in the SD today after nearing 2 years of having the account open. They gave me the account when my scores were low and seemingly have held a grudge ever since. I started with a relatively low SL and received only two $500 CLIs in a year and a half when my scores went up 130-140 points over that time. Today I was denied a CLI for the first time which was it for me and that card. Time to move on.

Re: Discover unOfficial Data Points

Anonymous — Wed, 30 Nov 2016 05:09:27 GMT

@Aahz wrote:
@happypill wrote:
What you're saying about spend in relation to CLI is interesting. I only use my Discover for bonus category spend (and since I'm within the first year it's all 10% rewards), and they have been very stingy with CLIs with me.

I had the exact opposite experience.

I got my Discover last December. Since then I have exclusively used it in the 5% (10% with doubling) categories, maxing each out in the first month of the quarter then ignoring the card until the next quarter came around. Have received 5 CLIs taking me from $4500 to $14500.

Well i have to agree with you, started with $1000 SL, after 13 months and over 30K in spending my card is at $11,900, and just got approved for the second card with $5000 SL, one time a put my card to the limit and i needed more, asked for CLI and i got $500 more, both CLI were SP and within the same month, in my case it was general spending.

Re: Discover unOfficial Data Points

Vegas4Play — Sat, 07 Jan 2017 19:18:44 GMT

I got my discover card in October 2015 my data points are listed below:

EQ Fico at approval 675 SL 7000 rate 10.25 - 2 Inq. not counting Discover

My file was thin at the time of approval. I only had First Premiere 900 CL, Credit one card 2K CL, Capital one card 3K CL, AU on 3 other cards CL from 10-12K and had just got 2 other Cap1 cards approved in September

CLI 2/15/2016 - 500.00 Instant. - 7500 used a lot highest balance 3500

CLI 5/23/2016 - 1500 instant - 9000 used a lot and did a balance transfer to it highest balance 7000

CLI requested 6/25 denied instant Not enough exp with current limit. heavy use balance 5000

CLI requested 7/25 denied instant Not enough exp with current limit heavy use balance 3000

CLI 9/24/2016 4000 instant - 13000 heavy use balance 9000

CLI 11/23/2016 - 6500 2 day message I logged in and saw it - 19500 balance currenly 600

CLI 12/23/2016 - denied instant, letter stated not enough time wih current limit.

CLI 1/4/2017 - 2 day message, logged in 1/7 went form 19.5K to 26K balance 800.00 statement to cut 1/9 paid down to 200.00 1/7.

I used the card often, my one year double cash back was 1400ish. I never took the cash out until the one year doubling. I let the balance report for the month then paid it off. Now that the double cash back is over for me. I will change cards and not use it as much. I will keep the balance low around 300-400 to see what CLI's I get in the next 6 months, I think I'll try every two months.

It has grown nicely in the last 12 months. My cash advance limit is only 1300, not that I ever use it. I just thought I would mention that is has always been low only 10% of my limits each time.

Re: Discover unOfficial Data Points

austinguy907 — Wed, 30 Nov 2016 08:36:10 GMT

Thanks Vegas for the input and it looks like your balances support my theory as your balance came down the CLI's went up. I don't know what the deal is with the cash side though, most lenders set it at 25% of your limit or there abouts. Amex does the same thing with the low cash side.

Disc Cash - $2500/$35600

AMEX - $2200/$50000

I think I noticed in another thread recently people with the higher cash side were using the BT to checking option and that increased the cash side for Discover at least.

Re: Discover unOfficial Data Points

austinguy907 — Fri, 02 Dec 2016 22:08:26 GMT

ETA

800-347-4856

Assuming these are EST:

MON-FRI 7AM-12AM
SAT-SUN 8AM-12AM

Re: Discover unOfficial Data Points

Anonymous — Sat, 03 Dec 2016 04:14:46 GMT

This is some great info! I was completely unaware that discover even offered an HP cli option by request (with the contingency that its right after a SP cli).

So one could say discover doesn't have a set timer for HP CLI's either, making them even more flexible.

I originally thought that HPs for increase requests were generally for folks who were above 40-50k in in CLs (not that its imposible to reach those without HPs as demonstrated by themanwhocan).

Curious to see if anyone has any data points on how much the increases usually are when doing a "Ask for more" akin to Citi hp CLI, if they ask you for a specific amount you are requesting and if so if they counter? I am betting they do not ask for input and its all up to them?

Is there any way possible for folks who did not initiate a SP CLI who could just call in and go straight for the HP CLI?

Lastly I think this thread would be a great addition to the bootcamp thread that was going or still may be.

Re: Discover unOfficial Data Points

austinguy907 — Sat, 03 Dec 2016 04:41:43 GMT

They seem to be open to going for a HP right off the bat if you call and ask for one. it might take them some time to process through it and get back to you with an answer. It didn't seem that it would have been an immediate response when I was talking to them but, then again I'm chasing the TheManWhoCan down the rabbit hole to 50K+. It's certainly something we should probably get some data points on if there's a Guinea Pig to go for the gold with it.

As for the Discover bootcamp BBS was running on I've been working with him on gathering data and comparing notes as we go along on this journey. I just decided to compile it into a more composed form like a "sticky" you see in each sub forum. I think the biggest thing is probing the # above and finding additional info that hasn't really been posted before or called with the intent of gathering info from them.

Re: Discover unOfficial Data Points

Anonymous — Sat, 03 Dec 2016 05:01:53 GMT

@austinguy907 wrote:
They seem to be open to going for a HP right off the bat if you call and ask for one. it might take them some time to process through it and get back to you with an answer. It didn't seem that it would have been an immediate response when I was talking to them but, then again I'm chasing the TheManWhoCan down the rabbit hole to 50K+. It's certainly something we should probably get some data points on if there's a Guinea Pig to go for the gold with it.

As for the Discover bootcamp BBS was running on I've been working with him on gathering data and comparing notes as we go along on this journey. I just decided to compile it into a more composed form like a "sticky" you see in each sub forum. I think the biggest thing is probing the # above and finding additional info that hasn't really been posted before or called with the intent of gathering info from them.

Cool. Well I won't have any issue here in a week or two calling up and reporting my results for a HP cli request. Unless of course my first 90 day CLI doesn't warrant the call. They started me off at 15k, I'm using it responsibly, and also taking a little spending away from my DC, even though I was hesitant to do it because I like to deposit my cash back into high yield checking. I figured, they treated me right, it was only fair I do the same lol. Now I will just have to decide on caling straight up, or doing the SP CLI.

I wonder if you call an ask for an increase if they first process a SP one then proceed to HP if you wish. I have a lot of HPs dropping off next year. But I definitely do not want to go crazy with them. I wouldn't use the increase to pyramid debt. It just makes me think if they approved me at 15k, pulling off my Equifax with the lowest inqs, they'd possibly have something decent ad hopefully they would HP the same bureau. I was originally planning on just wating a year since 15k is almost spot on for my level of spending, and that was the previous concensus that usually you would see a significant upward swing in each increase past the 1 yr mark..but not anymore

Re: Discover unOfficial Data Points

austinguy907 — Sat, 03 Dec 2016 05:09:19 GMT

Since I did the online like I normally do and got the 2-day standard I'm not sure but, I think they'll SP first and if it's not enough you can ask for more with a HP. The SP's come off of TU like the one they provide you each month when logged into the site. It's a mystery I'm sure we'll crack pretty easily in the next few weeks or a month. It's just some additional insight we haven't seen posted around here about them lately. I had to google with the phone number to find some decent info to confirm some of what I found lingering in the dark corners of the web. Gathering some recent real world information though for everyone is helpful and my intent with this thread.

Re: Discover unOfficial Data Points

Anonymous — Sat, 03 Dec 2016 05:56:49 GMT

Jfriend33,

How many days has your Discover account been open? Is it nearing 90 days? There's a very strong chance that they'll throw you an auto-CLI any day now if that's the case. Based on your $15k SL, that auto increase could be $4k-$6k or so. As soon as you see that increase, hit the button online requesting another and you'll get another $4k-$6k (or very close to whatever your auto increase was. That'll take you from a $15k limit to probably $25k or so. Then 30 days later you can hit the button again and probably come away with another $4k. My point is that there's a fairly decent chance that you'll possess a $25k-$30k limit with Discover in the next 2 months give or take... so it may not be worth taking a HP at this point when you can get some very good SP results in the very near future.

Re: Discover unOfficial Data Points

Anonymous — Sat, 03 Dec 2016 17:27:55 GMT

I wish I had read this before..

My 90 days is coming up and I have been pumping money through this card like crazy. I pay it off 2-3x's a week and never leave more the 10% when the statement cuts. After reading this I would have been more conservative though in my spending for the sake of a higher CLI. We shall see what happens soon though I guess. Thanks OP for putting this together as well.

Re: Discover unOfficial Data Points

AverageJoesCredit — Mon, 05 Dec 2016 01:26:24 GMT

Nice thread AG907. Interesting to say the least. Coming up on 2 months in 5 days. Hopefully i can add something if i decide to hit the luv button at this moment or more than likely just wait the standard 3 months to see if there is a auto first. . Been reading up on all i missed lately, your doing s great service to all us Disco holders, old and new alike

Re: Discover unOfficial Data Points

austinguy907 — Mon, 05 Dec 2016 02:16:50 GMT

You'll get an auto denial if you hit the button in the first 90 days unless they give you an auto. The upside is they don't pull and AMEX and make you wait 90 days after a denial. Just wait it out for the auto or 90 days whichever comes first.