topic Re: Winning the Disco game? in Credit Card Applications

Winning the Disco game?

elixerin — Sun, 19 Jan 2020 05:01:22 GMT

heya FICOers, i needed some guidance trying to improve a low credit limit i have with Disco, they have given me a great journey being it was my first CC (secured then) when i was 18, so i definitely can’t hate.. fast forward a year and some change im “stuck?” with a 2k limit that was unsecured and increased back in july... and i request increases often. TU 733 currently

in change since i’ve been with AMEX since November 2019 i’ve rotated away from Disco and put about 60-65k through AMEX eco and recently found out i have a 30-35kish “NPSL” on plat and a revolver that was 61day’d from 4 to 12k.

Amex love is real.. how can i get miss disco to follow you guys think? before my time with amex i ran like 70-80kish in charges (most with a $500 secured and a Post-July $2000 unsecured limit, it was soo annoying and still used debit majority during this time :/)with Disco during the year.. scores are meh cause my inquiries but im still 700+ all three.. any tips on how i can break that “insufficient experience with current credit limit“ line? main goal for now is just $8,000 on Disco since its just a 5% card and my OCD for 14k TCL will kill me..

thanks all

Re: Winning the Disco game?

FinStar — Sun, 19 Jan 2020 05:13:09 GMT

How many accounts have you opened in the past 12 months? Inquiries? If Discover's internal algorithms evaluate profitability to the extent of your account's tranche (among other factors) and where your spend is invested, it's unlikely they'll budge much when you have a fair set of other tradelines at your disposal.

As it's fairly certain you've read a variety of Discover CLI threads, there's no rhyme or reason for how your specific profile would achieve a CLI versus other profiles. All you can do is use it (or not use it) for a while and try again. Hopefully you won't step on a 4506-T landmine 👍

Re: Winning the Disco game?

elixerin — Sun, 19 Jan 2020 05:26:32 GMT

hey @FinStar thanks for reply, last 12 months i’ve opened one amex revolving and one charge card, rocking 18-14-10 EXP/EQ/TU inquiries

Re: Winning the Disco game?

FinStar — Sun, 19 Jan 2020 05:40:26 GMT

What is the current FICO score provided by Discover? The inquiries could be one factor, but will remain a mystery as to why your specific account's growth is stagnant.

Re: Winning the Disco game?

elixerin — Sun, 19 Jan 2020 05:44:02 GMT

TU fico in disco is 723, Experian app which updates monthly mid month instead of the end is showing 733 TU, 1% aggreg uti report

Re: Winning the Disco game?

FinStar — Sun, 19 Jan 2020 05:52:04 GMT

Well, I can only say that just like you mentioned upthread about AmEx "love" being real, so are tranches. It's coded from the get-go once your account is set up (whether secured or unsecured) and follows it through its life cycle. All banks use them. It's risk and revenue-driven.

Potentially, the type of account could be 'bucketed' in one of their many tranches, but on the upside at least a CLI was granted upon unsecuring. So, it's growth is likely to be slow and steady.

Re: Winning the Disco game?

elixerin — Sun, 19 Jan 2020 06:04:14 GMT

Neat, would you recommend picking up a second disco then? i can max the miles 3% cash back first year then pc for 5% on 3k total in categories... OR should i rock the schwab platinum with BBP and gold for the 1.25 cent per point cash back incase i cant find value in amextravel or travel partners? assuming i max each credit given every year whats more beneficial you think

thx for help

Re: Winning the Disco game?

Anonymous — Sun, 19 Jan 2020 06:10:39 GMT

There is no max to the cash back match on the Miles and as long as you have the willingness to provide them with 4506-T if requested, it's exactly what I would recommend getting.

Re: Winning the Disco game?

elixerin — Sun, 19 Jan 2020 06:13:20 GMT

@Saeren is it a 4506-T on approval or throughout my spend to obtain cashback match?

Re: Winning the Disco game?

FinStar — Sun, 19 Jan 2020 06:16:38 GMT

IMO, it's probably a better idea to see whether you qualify for a 2nd Discover card and see what that yields. Have you checked their pre-qualified tool? Let your scores drive up a bit for best results btw. If approved, you can eventually merge both accounts if you wish.

Then, strategize on your AmEx arsenal if that's the end goal.

Re: Winning the Disco game?

elixerin — Sun, 19 Jan 2020 06:37:42 GMT

pre-approved for all disco cards, but you’re right im gonna wait a bit and take things a bit slow to make sure i come out ahead in the best way, would hate being like 24 and have no offers or welcome bonuses to take on :/ lets not forget 5/24 too :x

gonna force myself to wait out 6 months or so

thanks for all input

Re: Winning the Disco game?

Anonymous — Sun, 19 Jan 2020 06:45:19 GMT

@elixerin wrote:
@Saeren is it a 4506-T on approval or throughout my spend to obtain cashback match?

The 4506-T is random but one of the triggers for them demanding it has been people adding another card. It's a comply or lose your accounts situation.

Re: Winning the Disco game?

recoveringfrombk7 — Sun, 19 Jan 2020 14:32:36 GMT

My secured card seems to be bucketed with the max 2500 deposit, but I prequaled at 12 months for another card and was approved for 14,500. Still giving the secured card another 6 months before I request my security back/close the account.

Re: Winning the Disco game?

Anonymous — Sun, 19 Jan 2020 18:00:04 GMT

@elixerin wrote:

... any tips on how i can break that “insufficient experience with current credit limit“ line?

Time & patience.

I received similar message for 12 straight months, then the gate opened and the next 3 months each produced a CLI (8K total). Now I wait, and ask. Asking does not hurt.

Re: Winning the Disco game?

Anonymous — Sun, 19 Jan 2020 18:28:02 GMT

Considering the amount you put through the card, I'd probably just stay with Amex. Discover is only 1%, unless taking advantage of the 5% categories. Amex has several cards that earn more points per Dollar, and MRs can be rather useful.

Discover can be slow to grow for some profiles, so that person needs to find a Bank that suits their needs better.

If it's just about getting your CL higher to match current accounts, often a second card can remedy that.

What other cards do you have and their limits? If you only have the Charge and 1-2 other CC with lowish CLs. Then there's isn't any "competition" if you will for your business. In reality it's only been "1 year" since unsecured, so it may take 6-12 months of "history" for them to take a risk with a higher limit.

Re: Winning the Disco game?

elixerin — Sun, 19 Jan 2020 18:36:37 GMT

amex 12k and charge card, Discover unsecured from $500 deposit in July 2019 to $2000

also have 5k apple card that isnt reporting yet, 3 cc 1 charge total

i could make use of 3% cash back first year on Disco miles if the chances of a higher SL are rather great then after first year pc to 5% for two IT rotating cards

watcha think

Re: Winning the Disco game?

RehabbingANDBlabbing — Mon, 03 Feb 2020 22:00:17 GMT

We had a really good discussion on this topic a while back in my Discover secured card thread. I think Discover is bucketing the secured cards after graduation in terms of future CLIs. My card graduated with a CLI to $2k and I kept getting the "unsufficient experience at current limit" message for a full year after I graduated and got the CLI. After that, they have been denying me for another reason (high utilization), which I have corrected this month, but at least it is a real reason for denial. I think I should be able to get a CLI next month after they pull my new CR showing my utilization is low. But I would keep the card and keep requesting a CLI each monnth until it hits a year after your graduation. There are many reports of people getting a second Discover with a much higher limit, so that is definitely an option. But I would not take the CLI denials personally on your formerly secured card.