topic Re: Discover IT in Credit Card Applications

Discover IT

tryingforgoals — Sat, 12 Mar 2022 22:48:55 GMT

Hello,

I just got approved for the Discover IT card 2 days ago. However the limit is only 500 which I think is too low. Is there a way I can get appeal to get a higher initial limit?

Thank you.

Re: Discover IT

Brian_Earl_Spilner — Sat, 12 Mar 2022 22:55:45 GMT

Unfortunately, discover doesn't do recon. Whatever the computer spits out is final.

Re: Discover IT

FinStar — Sat, 12 Mar 2022 22:57:01 GMT

@tryingforgoals wrote:
Hello,

I just got approved for the Discover IT card 2 days ago. However the limit is only 500 which I think is too low. Is there a way I can get appeal to get a higher initial limit?

Thank you.

Unfortunately, no.

In the past, there was an escalation channel for reconsideration. Folks abused it and it's pretty much now whatever the computer approves since analysts are not able to override it.

Re: Discover IT

tryingforgoals — Sat, 12 Mar 2022 22:58:37 GMT

Thank you.

I guess I'll just end up closing the card? I don't see a point in having a card with such a low limit. Is it possible to close the card before using it?

Re: Discover IT

micvite — Sat, 12 Mar 2022 23:13:22 GMT

@tryingforgoals wrote:
Thank you.

I guess I'll just end up closing the card? I don't see a point in having a card with such a low limit. Is it possible to close the card before using it?

Yeah you could, but based on your sig it seems it's your highest limit card and with those scores I don't think you'd be getting anything much better... (unless that's just not updated) I'd just use it and get CLI's

Re: Discover IT

AverageJoesCredit — Sat, 12 Mar 2022 23:15:42 GMT

@tryingforgoals wrote:
Thank you.

I guess I'll just end up closing the card? I don't see a point in having a card with such a low limit. Is it possible to close the card before using it?

I'm sorry for your disappointment but I think perspective is a good thing here. In comparison with your current cards, $500 is pretty good especially considering you are in the 500s. I can't even fathom Discover giving an unsecured card while still below 600 which we know means your credit needs work. It's a blessing to have a really good prime card. Keep in mind, you can use this card not only to earn rewards but build history with Discover. As your profile improves you may find yourself getting another Discover which may have a better limit, a possible ability to combine accounts, and another double cash earning bonus. Just my humble opinion but I would not close it.

Re: Discover IT

tryingforgoals — Sat, 12 Mar 2022 23:18:05 GMT

I'm actually not in the 500s, I just haven't used the site in a while so I didn't update my scores.

I have a QuickSilver and a SavorOne card. I know I'm still considered "fair" but it just seems a little low. Maybe I'll just keep it in a drawer. Lol.

Re: Discover IT

Jnbmom — Sat, 12 Mar 2022 23:22:17 GMT

If your signature is current with the cards you have listed discover is a step up. Keep the card and be happy they approved you .

Re: Discover IT

micvite — Sat, 12 Mar 2022 23:25:12 GMT

@tryingforgoals wrote:
I'm actually not in the 500s, I just haven't used the site in a while so I didn't update my scores.

I have a QuickSilver and a SavorOne card. I know I'm still considered "fair" but it just seems a little low. Maybe I'll just keep it in a drawer. Lol.

Yeah, low 6's is still considered as "bad" credit anything over 650 is considered "fair", discover can grow a lot with spend, I'd just use the card and max out the 5% categories at least (also double cash back for the first year) cycle some spend and ask for a CLI, if they see you spend money they can be very generous

Re: Discover IT

FinStar — Sat, 12 Mar 2022 23:57:14 GMT

@tryingforgoals wrote:
I'm actually not in the 500s, I just haven't used the site in a while so I didn't update my scores.

I have a QuickSilver and a SavorOne card. I know I'm still considered "fair" but it just seems a little low. Maybe I'll just keep it in a drawer. Lol.

Right. And, if you look at it from a perspective of your average credit limits (if your signature is up-to-date), the average comes to be around $700 based on the 3 cards listed.

Personally, I would use it to build a positive history with Discover which could yield in future CLIs that may surpass your existing cards. So, even if you decided not to use it and close it, keep in mind it will still show up on your credit reports.

Re: Discover IT

SoCalGardener — Sun, 13 Mar 2022 00:12:12 GMT

Let me jump on the bandwagon of those saying keep it!

Discover is a *great* CC company, and getting in with them, with your scores, for an unsecured card...I think that's awesome--despite its low limit. As others have said, compared to your other cards, this one's limit really isn't out of line. It's not like you're dealing with 5-figure limits on your other cards, you know?!

I strongly encourage you to keep the card, use it--regularly and often--pay your bill on time (and, preferably, always more than the minimum), and let the calendar do its thing. In six months or a year, you'll probably have gotten approved for at least one or two CLIs. This is a valuable card. I wouldn't throw it away.

That's my $0.02 worth. Do with it as you see fit!

Re: Discover IT

SUPERSQUID — Sun, 13 Mar 2022 00:31:38 GMT

@tryingforgoals wrote:
Thank you.

I guess I'll just end up closing the card? I don't see a point in having a card with such a low limit. Is it possible to close the card before using it?

When i get a low sl on a card i really want i think of it as getting my foot in the door. i know 500 stinks but on the flip side its super easy to manage a card like that, plus if you keep it its a chance to build a relationship with Discover and cli's will naturally come with time. whenever i get a low sl but i really want the card i pay some monthly household bill i have and its easy to pif.

maybe you can use it for gasoline, the first year is double cash back so its a 2 pct cb card, plus the categories are 10 pct cb the first year.

Re: Discover IT

SUPERSQUID — Sun, 13 Mar 2022 10:48:43 GMT

Also something to consider.

If you receive the card before the end of the month you would be in the groceries category, so thats 10 percent cash back on this months groceries.

Apr/may/june included in the categories is gasoline, so thats 10 percent of those very high gasoline prices in your pocket assuming you drive.

A 500 dollar limit is quite useful for both of these type purchases.

Re: Discover IT

mgood — Sun, 13 Mar 2022 16:49:01 GMT

Only reason I request CLIs on mine is to pad my aggregate credit limit. I have no intention of spending more than $1500 per quarter on it because that's where the 5% categories are capped.

I'd keep that sucker and use it. It's a great card to have for the rotating categories. And it will more than likely grow much faster than your Capital One cards.

Re: Discover IT

tryingforgoals — Sun, 13 Mar 2022 22:00:44 GMT

I'm not sure the 500 will cover gasoline these days. 😅 Joke joke.

@SUPERSQUID wrote:
@tryingforgoals wrote:
Thank you.

I guess I'll just end up closing the card? I don't see a point in having a card with such a low limit. Is it possible to close the card before using it?

When i get a low sl on a card i really want i think of it as getting my foot in the door. i know 500 stinks but on the flip side its super easy to manage a card like that, plus if you keep it its a chance to build a relationship with Discover and cli's will naturally come with time. whenever i get a low sl but i really want the card i pay some monthly household bill i have and its easy to pif.
maybe you can use it for gasoline, the first year is double cash back so its a 2 pct cb card, plus the categories are 10 pct cb the first year.

Re: Discover IT

tryingforgoals — Sun, 13 Mar 2022 22:01:47 GMT

Thanks all. I'll just keep it and charge some small recurring fee to it.

@mgood wrote:
Only reason I request CLIs on mine is to pad my aggregate credit limit. I have no intention of spending more than $1500 per quarter on it because that's where the 5% categories are capped.

I'd keep that sucker and use it. It's a great card to have for the rotating categories. And it will more than likely grow much faster than your Capital One cards.

Re: Discover IT

SoCalGardener — Sun, 13 Mar 2022 22:33:28 GMT

@tryingforgoals wrote:
Thanks all. I'll just keep it and charge some small recurring fee to it.

Good decision! Yay you! I don't think you're going to regret keeping it.

Using it for small recurring fees, like a phone bill, is a very good plan, but in addition to that I think you need to use it more, like for actual purchases. Show Discover that you're using the card, and want to keep using it...before long, you should be looking at a CLI!

Re: Discover IT

CYBERSAM — Mon, 14 Mar 2022 03:26:21 GMT

@tryingforgoals I'll come at this from another angle! Cap1s are known to get bucketed! You may get couple of increases from them but very likely they are not going to grow that much!

Discover is one of the easy CCs that can grow big(10K+) and is a good card to keep for long term!

I think Discover Card is your best CC! Just my 2 cents 👍

Re: Discover IT

SUPERSQUID — Mon, 14 Mar 2022 12:36:52 GMT

@SoCalGardener wrote:
@tryingforgoals wrote:
Thanks all. I'll just keep it and charge some small recurring fee to it.
Good decision! Yay you! I don't think you're going to regret keeping it.

Using it for small recurring fees, like a phone bill, is a very good plan, but in addition to that I think you need to use it more, like for actual purchases. Show Discover that you're using the card, and want to keep using it...before long, you should be looking at a CLI!

Gasoline or groceries are perfect purchases with a 500 cl, when the categories arise.

also smaller purchases on walmart, target, and amazon when the categories arise.

Re: Discover IT

Anonymous — Mon, 14 Mar 2022 23:59:06 GMT

@tryingforgoals wrote:
Hello,

I just got approved for the Discover IT card 2 days ago. However the limit is only 500 which I think is too low. Is there a way I can get appeal to get a higher initial limit?

Thank you.

So did I this morning. I did call the CSR to find out about CLI on the CC. She did say 30 days to apply for for CLI and if you're denied you can apply again 30 days after. It seems a bit too soon for me, so I'll wait at 3 full statement cycles. Plus, I don't want HPs for the sake of pulling my Credit to get denied.