topic Re: Requesting a CLI for my Discover It card in Credit Cards

Requesting a CLI for my Discover It card

Anonymous — Wed, 05 Aug 2015 19:21:00 GMT

Hey guys, new to the forum but not new to credit! I'm a 21 year old college student with two credit cards. I got my Discover card in 2012 the day I turned 18, which was then the Discover More card. I transferred to the Discover It card last July. I believe they started me out with a $500 credit limit if I recall correctly. I now have a $2,000 CL with them. In August of last year, I applied for an AmEx Every Day card and was accepted with a $2,500 CL, which I increased to $7,500 and recently tried to increase (but got the 7-10 day wait notice) to $22,500 using the 3x CLI guide.

I would like to increase my CL with Discover but I don't know how much I should reasonably ask for. My FICO score, according to my Discover statements, is 759, and my scores according to Credit Carma are 743 and 744. I feel like I have a fairly good chance of being approved but it has always seemed like Discover never grants what you ask for, but they counter you for a lower limit.

Any advice would be appreciated!

Re: Requesting a CLI for my Discover It card

Anonymous — Wed, 05 Aug 2015 19:28:12 GMT

Welcome to the forums. Discover does not allow you to request a specific amount. You can log onto your account and click on credit limit increase, fill in your income information, and they will offer an amount they wish to offer, or deny the credit limit increase.

Re: Requesting a CLI for my Discover It card

Anonymous — Wed, 05 Aug 2015 19:30:15 GMT

Thanks for the welcome. That's news to me, when I increased my limit before I had to specify an amount (I believe I asked for $2,500 and then they countered $2,000). But I will go ahead and do that, then. Thanks!

Re: Requesting a CLI for my Discover It card

morgacj2004 — Wed, 05 Aug 2015 19:30:52 GMT

I prev was getting DC CLI every 45 days. I believe that is now 90 days. A few months ago people were getting increases every 2 weeks but that is no more.! DC tends to be more conservative then other lenders on ICL but I have found the more I spend the higher my CLI are. Hope this helps.

Re: Requesting a CLI for my Discover It card

Anonymous — Wed, 05 Aug 2015 19:35:42 GMT

@Anonymous wrote:
Thanks for the welcome. That's news to me, when I increased my limit before I had to specify an amount (I believe I asked for $2,500 and then they countered $2,000). But I will go ahead and do that, then. Thanks!

DIsocver's prior policy and website did indeed allow you to request spceifics, but that has changed. Good luck!

Re: Requesting a CLI for my Discover It card

peaceonearth — Wed, 05 Aug 2015 19:44:16 GMT

@Anonymous wrote:
Hey guys, new to the forum but not new to credit! I'm a 21 year old college student with two credit cards. I got my Discover card in 2012 the day I turned 18, which was then the Discover More card. I transferred to the Discover It card last July. I believe they started me out with a $500 credit limit if I recall correctly. I now have a $2,000 CL with them. In August of last year, I applied for an AmEx Every Day card and was accepted with a $2,500 CL, which I increased to $7,500 and recently tried to increase (but got the 7-10 day wait notice) to $22,500 using the 3x CLI guide.

I would like to increase my CL with Discover but I don't know how much I should reasonably ask for. My FICO score, according to my Discover statements, is 759, and my scores according to Credit Carma are 743 and 744. I feel like I have a fairly good chance of being approved but it has always seemed like Discover never grants what you ask for, but they counter you for a lower limit.

Any advice would be appreciated!

Does your income support a credit line increase? You're only 21YO, don't get in trouble.

A Credit score may not mean much to lenders when it comes to credit line increses.

Re: Requesting a CLI for my Discover It card

Anonymous — Wed, 05 Aug 2015 19:46:34 GMT

Thanks! Seems that they're having some trouble with their site at the moment because the CLI request page won't load. Does the same apply if I give them a call -- that is, they will take my updated information an then offer me an increase (if elegible by their standards)?

As far as my income is concerned, I make $32,000 per year take home and have zero rent and other monthly expenses as I (very thankfully) live at home as I go through college. AmEx had no problem bumping me up to $7,500 so I'm hoping Discover won't have too much of an issue giving me a little bump.

Re: Requesting a CLI for my Discover It card

Anonymous — Wed, 05 Aug 2015 19:47:10 GMT

If you call in, they will probably request to do a hard pull.

And yes, the other poster is exactly correct - at 21 you ARE new to credit! You may or may not get the CLI. It's about much more than just the score.

Re: Requesting a CLI for my Discover It card

DeeBee78 — Wed, 05 Aug 2015 20:11:45 GMT

Good luck on your Discover CLI.

Just wanted to point out though - your two cards are the least widely accepted cards, especially overseas. You might want to get a Visa or Mastercard for those places that don't accept Amex or Discover.

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 00:41:33 GMT

Thanks DeeBee - I submitted the request online so all that's left is to wait two business days and hope they're generous this time around.

I am aware about the popularity of DIscover and AmEx (or rather lack thereof) but I've never had an issue with them in my area or even during travel in the US. I've yet to go out of the country and should the need arise, I'll probably end up getting a Visa or Mastercard. But for now I'm content with the two I have, no sense in decreasing my AAoA for a problem that's not there!

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 00:46:25 GMT

where i live the ONLY place that's refused my amex was subway but they'll take my discover so idc either lol. as long as your typical places take your tender then you're good

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 00:48:49 GMT

@Anonymous wrote:
Thanks DeeBee - I submitted the request online so all that's left is to wait two business days and hope they're generous this time around.

I am aware about the popularity of DIscover and AmEx (or rather lack thereof) but I've never had an issue with them in my area or even during travel in the US. I've yet to go out of the country and should the need arise, I'll probably end up getting a Visa or Mastercard. But for now I'm content with the two I have, no sense in decreasing my AAoA for a problem that's not there!

Just playing Devil's Advocate here as I don't necessarily think you should app for other cards if you don't feel you need them as that is indeed silly. However, at our age (I'm 22) we're at a pretty decent position to apply for other cards (that we desire/need) without fretting too much over AAOA... Because our accounts are so relatively young, adding on or two more will now will allow them to age alongside our current accounts. Alternatively, you're looking at waiting another x amount of years before you apply, cutting your AAOA at time when it may actually harm you and the cut may be more dramatic than it would be now. All that being said, everyone's circumstances are different.

(I'm partly putting out that suggestion for my own benefit. I, too, only have two cards currently -- though one of mine's a visa -- and am considering whether to sit on them or to app for some that I'm interested in relatively soon to allow them to age )

Regardless, good luck with your Discover CLI

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 00:56:41 GMT

i am 24 and started building credit a month after i was 18. i have 25 total accounts, 13 open, oldest is 6 years and newest is a week. if i knew then what i know now i would have gotten 3-4 when i was 18 for growth and age purposes rather than one card at 18, two at 20, one at 21... etc. so i would say that if your scores are decent enough and your profile supports it then get a card you WANT and have use for. don't go off of suggestions. people will always suggest what they want or what works for them. what works for me may be detrimental to you

Re: Requesting a CLI for my Discover It card

Thomas_Thumb — Thu, 06 Aug 2015 01:21:13 GMT

@Anonymous wrote:
Hey guys, new to the forum but not new to credit! I'm a 21 year old college student with two credit cards. I got my Discover card in 2012 the day I turned 18, which was then the Discover More card. I transferred to the Discover It card last July. I believe they started me out with a $500 credit limit if I recall correctly. I now have a $2,000 CL with them. In August of last year, I applied for an AmEx Every Day card and was accepted with a $2,500 CL, which I increased to $7,500 and recently tried to increase (but got the 7-10 day wait notice) to $22,500 using the 3x CLI guide.

I would like to increase my CL with Discover but I don't know how much I should reasonably ask for. My FICO score, according to my Discover statements, is 759, and my scores according to Credit Carma are 743 and 744. I feel like I have a fairly good chance of being approved but it has always seemed like Discover never grants what you ask for, but they counter you for a lower limit.

Any advice would be appreciated!

See attached for guidelines on CLs by score and income level. Students get some breaks but don't expect to be approved for the $22,500 request. I would suggest not asking for anything above $5000 for your Discover card.

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 19:39:51 GMT

Someone with Discover contacted me this afternoon regarding my CLI request and she said they would have to do a hard pull to proceed. I gave my permission for that and I was granted a CLI...for $1,500 more, making my new limit $3,500. Why is Discover so stingy? It's my oldest account, my score is high, I've never missed a payment and my utilization is low. If I'd known I'd only be getting $1,500 more, I wouldn't have done the HP and just sat happily with my $2,000 previous limit.

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 19:41:41 GMT

Congrats on the increase! Different lenders have different criteria. I know some people just apply for a new card rather than asking for a CLI, since it is going to be a HP anyway.

On a side note, you should consider Sallie Mae. Amongst other things, you get 5% back on the first $750 spent per statement at bookstores, including Amazon. 5% back on textbooks can be very nice.

Re: Requesting a CLI for my Discover It card

SouthJamaica — Thu, 06 Aug 2015 19:45:43 GMT

@Anonymous wrote:
Someone with Discover contacted me this afternoon regarding my CLI request and she said they would have to do a hard pull to proceed. I gave my permission for that and I was granted a CLI...for $1,500 more, making my new limit $3,500. Why is Discover so stingy? It's my oldest account, my score is high, I've never missed a payment and my utilization is low. If I'd known I'd only be getting $1,500 more, I wouldn't have done the HP and just sat happily with my $2,000 previous limit.

I'm surprised it didn't work out better.

Discover has actually been pretty generous lately (not with me, but with a lot of other people) compared to its historic standard.

Re: Requesting a CLI for my Discover It card

Anonymous — Thu, 06 Aug 2015 19:46:48 GMT

they've kinda fallen back into that historic standard