topic Re: Discover CLI in Credit Card Applications

Discover CLI

Anonymous — Thu, 25 Oct 2018 03:46:59 GMT

I just applied for some love from Discover. My 3rd statement hit today. Received a response that they can not grant an increase and a letter would be sent. So sad. Was hoping for an increase. My SL was $8500.

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 04:02:39 GMT

The letter will most likely say "Insufficient experience with current Discover card credit limit".

Keep using the card and PIF with no lates, request every 30 days, the CLIs will come eventually. I started with 4k limit in April of 17', I'm up to 13K as of 2 weeks ago.

Re: Discover CLI

Medic981 — Thu, 25 Oct 2018 04:24:45 GMT

Welcome to the myFICO forums!

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 07:15:55 GMT

Welcome to the Forums. I have had my Disco for about 4 months. Started out at $6000, got my first CLI after my 3rd statement to $9000, asked once a week for a month and got one the other day making it $10,500.. Just PIF and have patience. Good luck!

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 18:23:02 GMT

Do you think PIF will give a better chance in CLI comparing to paying a portion only (since there's 0 intro APR)?

I opened Discover It as my first credit card 11 months ago when I came to US. I usually pay ~50% of the balance, sometimes full. CL 1000->3000. Wondering if I'll get a better CLI if I start to PIF since 0 APR is expiring.

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 18:55:04 GMT

I wonder if I did not get the cli because I have a balance from a transfer I made to take advantage of the 0%. I use the card as my reg Card but have a $1500 balance?

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 19:15:52 GMT

@Anonymous wrote:
Do you think PIF will give a better chance in CLI comparing to paying a portion only (since there's 0 intro APR)?

I opened Discover It as my first credit card 11 months ago when I came to US. I usually pay ~50% of the balance, sometimes full. CL 1000->3000. Wondering if I'll get a better CLI if I start to PIF since 0 APR is expiring.

You can play around and experiment during 0% period but once that is over, there is really no choice but to PIF (if you can). CLIs are nice but finances always come first, never carry balance and pay interest just to try to trigger a CLI (not to mention there is no evidence suggesting it works). Make your charges, set your autopay to PIF by due date and let CLIs fall where they may. Your credit should work for you not the other way around.

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 19:20:50 GMT

@Anonymous wrote:
I wonder if I did not get the cli because I have a balance from a transfer I made to take advantage of the 0%. I use the card as my reg Card but have a $1500 balance?

Trying to pin down a pattern for Discover CLIs is an exercise in futility, just do what makes financial sense and let CLIs happen naturally.

Re: Discover CLI

Anonymous — Thu, 25 Oct 2018 22:39:44 GMT

That's a good point. I've heard of people "paying" the bank in order to (try to) get a CLI. I personally would never do that though.

However since ~2% APY is almost nothing, if PIF does help with CLI I wouldn't hesitate to do so. Especially since having a higher CL on the report may increase my chance with a CSP/CSR one day, which should eventually generate more revenue in SUB and rewards than saving a few hundred bucks in Discover savings.

Re: Discover CLI

Anonymous — Fri, 26 Oct 2018 16:42:04 GMT

Discover is an interesting one. I asked for an increase and was turned down. 1 month later my card was automatically increased to $3500. 6 months later $7500. Only thing I could think of is I put around 1,000 on it during the holidays and paid it off in a few days.

Re: Discover CLI

Anonymous — Wed, 31 Oct 2018 21:47:50 GMT

My experience has been one auto CLI during the first year of the account being opened. I cannot pin point when it was exactly. For the last year or so, I've been putting less than $50 a month on it and PIF. Asking for CLI via the website has been successful for me at every 91 days.