topic Re: Discover maximum CL without docs in Credit Cards

Discover maximum CL without docs

plastic_man — Sun, 30 Oct 2016 02:20:59 GMT

Hi, the wife has been requesting SPs CLI on her discover IT card since 04 from a SL of $6k to actual line of $42k , usually after 3 months or so at a time.

My question is: How high can she go without a HP and requests for docs?

Her FICO from discover is 800. Income ~$100k.

Re: Discover maximum CL without docs

plastic_man — Sun, 30 Oct 2016 02:23:42 GMT

Edit; card opened in 2014 not 2004.

Re: Discover maximum CL without docs

Themanwhocan — Sun, 30 Oct 2016 02:39:58 GMT

Rumor has it that you need POI after $50k.

Re: Discover maximum CL without docs

Anonymous — Sun, 30 Oct 2016 07:10:33 GMT

My Limit 59k with no documentation so far.

Re: Discover maximum CL without docs

plastic_man — Sun, 30 Oct 2016 10:33:15 GMT

59k, no docs yet? I would say 60k would be the threshold ?? Anybody else?

She will try another time, by the end of next month. (Probably the last).

Re: Discover maximum CL without docs

manyquestions — Sun, 30 Oct 2016 12:49:21 GMT

@Anonymous wrote:
My Limit 59k with no documentation so far.

Several other posters on various credit forums have reported being asked for POI docs when they crossed 50K on a credit line increase. If you don't mind, about how long ago did you open your card, and how recently did you cross 50K? Did you get to 59K through increases via clicking the credit limit increase link on the website or did you do it some other way?

Re: Discover maximum CL without docs

AverageJoesCredit — Sun, 30 Oct 2016 13:57:30 GMT

Wow,59 k. It seems to me POI would probably be dependant on ones overall profile . For sure if i was getting sp clis no way would they give me 50k for someone with my income and profile but if someone is making really good money and maybe has several high credit limit cards in their profile, they would see that and probably decide they dont need POI yet. Just my thoughts for a Sunday lol

Re: Discover maximum CL without docs

Berk — Sun, 30 Oct 2016 16:04:46 GMT

@AverageJoesCredit wrote:
Wow,59 k. It seems to me POI would probably be dependant on ones overall profile . For sure if i was getting sp clis no way would they give me 50k for someone with my income and profile but if someone is making really good money and maybe has several high credit limit cards in their profile, they would see that and probably decide they dont need POI yet. Just my thoughts for a Sunday lol

This is what determines when POI is required. Remember all the discussion about the FR when you requested above 25K with AMEX? Well, that has been disproven over and over. There is no "magic number" for when a financial review will be reqired from any lender. It is all dependent on the overall profile and their internal matrices.

Re: Discover maximum CL without docs

Anonymous — Sun, 30 Oct 2016 20:08:54 GMT

Just keep in mind that with limits of over 40-50k (I forget the exact number) the way FICO treats the utilization on that account changes.

Re: Discover maximum CL without docs

plastic_man — Sun, 30 Oct 2016 21:27:24 GMT

@mryflyguy. Do you mean that in a good or bad way?

Re: Discover maximum CL without docs

Anonymous — Sun, 30 Oct 2016 21:56:05 GMT

I don't have that problem yet, so I'm not sure about the specific details. It would depend on the person's credit profile and utilization patterns, but presumably if you're getting limits over 40k it's not a bad thing, just somethingn to be aware of.

Re: Discover maximum CL without docs

Anonymous — Mon, 31 Oct 2016 00:51:40 GMT

I know this is a large generalization, but IMO the majority of people with $40k-$50k type limits are the type of people that PIF every month... which is one of the good behaviors/habits that has allowed them to grow their limit(s) considerably.

That said, "utilization" to these people is usually a non-factor as they rarely carry balances, and if they do they will never be significant [with respect to a monster CL]. Someone with a $50k limit can let a $4900 balance report one month and they are still in golden, single-digit utilization and could even let a balance of $14,500 report and it would still be considered "good" utilization at 29%.

Re: Discover maximum CL without docs

heychrisbaker — Tue, 01 Nov 2016 17:48:10 GMT

I just got an increase form $34k to $37k after 91 days. I opened the card in May 2014 with $7,500 I can't wait to get to the $50k mark.

Re: Discover maximum CL without docs

Anonymous — Tue, 01 Nov 2016 18:41:07 GMT

I would really like to read more about this phenomena of high-limit cards affecting utilization differently. Anyone have any source documents, threads, rumors, innuendo?

Re: Discover maximum CL without docs

Anonymous — Wed, 02 Nov 2016 03:25:56 GMT

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/High-CLs-gt-40K-or-so-don-t-factor-into-utilization-calculation/td-p/788863

You can find way more if you keep searching.

Re: Discover maximum CL without docs

Anonymous — Wed, 02 Nov 2016 12:17:05 GMT

The thread linked above is 6 years old. Are we to know for sure if FICO scoring with respect to high limit accounts and utilization is the same today as it was 6 years ago?

Re: Discover maximum CL without docs

CreditCuriosity — Wed, 02 Nov 2016 13:24:49 GMT

50k is suppose to be magic number now where utilization isn't factored in.. Would have to search for linkie.

Re: Discover maximum CL without docs

Anonymous — Wed, 02 Nov 2016 18:34:41 GMT

Interesting. I guess stopping at $49k would be the move for some

I guess the overall percentage of people with $50k+ cards is quite small in the grand scheme of things.