topic Re: Discover it HP CLI worth it?? in Credit Cards

Discover it HP CLI worth it??

Anonymous — Sun, 07 May 2017 23:42:13 GMT

I opened the card in Jun 2015 with 5k SL, in Jan 2016 had an auto limit reduction to 4700 because my score had dropped, then Aug 2016 auto CLI to 10,400 and that's where I'm at right now.

After the last CLI I did a BT for 9,600 and paid that off within 6 months.

Overall Util now is 14%

aaoa 2 yrs 7 mo

new accnts last 6 months = 0 last 12 = 3

inquiries last 6 months = 0 last 12 = 2

My scores below are accurate, is it worth spending a HP here for how much of a possible increase? My goal is to increase my orevall limit as much as possible regardless of any sign up bonus/perk, would I be better off apping for a new card instead?

Re: Discover it HP CLI worth it??

medicgrrl — Sun, 07 May 2017 23:46:34 GMT

I think it's a SP unless you agree to a HP.

Re: Discover it HP CLI worth it??

mongstradamus — Sun, 07 May 2017 23:56:06 GMT

I would just try and be patient and get some CLI via sp, it may take some time just try and be patientL

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 00:16:42 GMT

@mongstradamus wrote:
I would just try and be patient and get some CLI via sp, it may take some time just try and be patientL

I would love to do that but I tried through the website and it came back with a request for a HP, tried it over the phone and it connected me with a rep so I turned it down.

Any idea of when the SP will be available? Do you know if they do quaterly ARs and if the SP is based on the result from that AR?

Re: Discover it HP CLI worth it??

AverageJoesCredit — Mon, 08 May 2017 01:06:03 GMT

Thats weird . If you hit the luv button snd are getting the hp spiel, i wonder if that means you are at max they are willing to give via sp. Disco is a weird card to try and discern cli patterns, just look at how much fun we have here on the forum. Some people get massive limits without having to do a thing while ithers spend like they print money and can barely get anything.

Maybe easiest thing to do, if you dont feel like waiting is attempt the hp xli request and shoot for the moon. I dont think a hp will hurt you much seeing as you only have a couple. Good luck if you decide to go that path.

Re: Discover it HP CLI worth it??

mongstradamus — Mon, 08 May 2017 01:09:53 GMT

I can tell you from my personal experience it took almost year and half to get my first sp cli but after I got my first one I could get one every three months or so, I stopped when I hit 20k

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 01:21:15 GMT

I personally don't think it would be worth burning a HP for a CLI. I'm not sure you'd get what you feel would be "worth it" out of the deal.

One thing I would strongly recommened though is getting your aggregate utilization into the single digits. While it's OK for you to have a single card outside of the optimal range (and even encouraged sometimes depending on creditor in terms of CLIs) it's always in your best interest to have overall utilization in the optimal range of 1%-8.99%. This could be one of the factors holding back your SP CLI chances with Discover.

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 05:13:19 GMT

@AverageJoesCredit wrote:
Thats weird . If you hit the luv button snd are getting the hp spiel, i wonder if that means you are at max they are willing to give via sp. Disco is a weird card to try and discern cli patterns, just look at how much fun we have here on the forum. Some people get massive limits without having to do a thing while ithers spend like they print money and can barely get anything.

Maybe easiest thing to do, if you dont feel like waiting is attempt the hp xli request and shoot for the moon. I dont think a hp will hurt you much seeing as you only have a couple. Good luck if you decide to go that path.

That's funny I always had the impression Discover was one of the more consistent ones

@Anonymous wrote:
I personally don't think it would be worth burning a HP for a CLI. I'm not sure you'd get what you feel would be "worth it" out of the deal.

One thing I would strongly recommened though is getting your aggregate utilization into the single digits. While it's OK for you to have a single card outside of the optimal range (and even encouraged sometimes depending on creditor in terms of CLIs) it's always in your best interest to have overall utilization in the optimal range of 1%-8.99%. This could be one of the factors holding back your SP CLI chances with Discover.

You r right about utilization and I'm aware, I really wish that was the case because it would be an easy fix, I have all that balance on a single card where utilization is 85%, it was 18 months 0% apr so I bought some inventory. Based on the simulator I would gain 10 pts across bringing it down to 66%, my other weak link is AAoA, so I'm planning on getting one of my father's older cards that he doesn't use and becoming authorized user and kill 2 birds.

To me worth it would be 7,500 and above, I have seen more than a few people here throwing around 20k+ limits so I thought I still had room on this card. I'm in with Penfed and awaiting membership approval with NFCU and I want to try and max out their exposure, so if Discover is not consistent then I agree I don't think I should risk it.

Re: Discover it HP CLI worth it??

austinguy907 — Mon, 08 May 2017 06:41:34 GMT

Maybe I'm missing something here. So, you got a bump to 10.4K and had a big BT on the card?

You managed to trigger something with a CLD from them and then get restored.

Simulators are junk no matter where you're getting them from.

You menitoned buying inventory aka using personal for business.... If it was AMEX / Cap1 they'd probably shut you down.

You want to increase your overall CL... This I can talk on pretty easily.... 6/2015 I had a 10K card closed which wasn't really that big of a deal but, I ended up replacing the 10K with AMEX / Disco (10K/4.5K) and since then they've grown to a combined 98K in a little over a year.

I know it's a ruh to see some bigger numbers adding up for a TCL but, you're at 9 cards and shy of 3 AAOA. I would focus more on growing your current cards than pushing the number of cards up. You have a couple of liabilities with Comenity which you'll want to keep an eye on anyway since they're a little skittish lately.

I would spend your HP's on CLI's with your current lenders instead of taking 1 step forward and 3 steps backwards by opening more accounts. The HP's only cost a couple of points and you get them back relatively quickly in comparison to the time it takes to go up a year in your AAOA. Get your utilization down under 10% or even 5% and make sure it's all reporting and then hit that button for each lender. Since you have a PRG the consideration for another account that adds to your TCL would be adding a BCE or ED and use the 3X method on the CL.

Time is your friend when it comes to growth.

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 09:45:01 GMT

austinguy907 wrote:.

I know it's a ruh to see some bigger numbers adding up for a TCL but, you're at 9 cards and shy of 3 AAOA. I would focus more on growing your current cards than pushing the number of cards up. You have a couple of liabilities with Comenity which you'll want to keep an eye on anyway since they're a little skittish lately.

I would spend your HP's on CLI's with your current lenders instead of taking 1 step forward and 3 steps backwards by opening more accounts. The HP's only cost a couple of points and you get them back relatively quickly in comparison to the time it takes to go up a year in your AAOA. Get your utilization down under 10% or even 5% and make sure it's all reporting and then hit that button for each lender. Since you have a PRG the consideration for another account that adds to your TCL would be adding a BCE or ED and use the 3X method on the CL.

Time is your friend when it comes to growth.

It is kind of addictive I have to say, coming up with different strategies. I agree here and if I may pick your brain a little bit, that was also my logic I want to max out a TL before moving to a new product (or batches of 2 or 3) but I want to focus on TLs that 1. have the biggest limits and 2. are easy to max out, that's why I chose to work on Penfed and NFCU vs what I currently have, I would be taking 3 steps backwards but I would be gaining better "assets" and will be able to start working on the better assets now, playing around with uncertain behavior is something I would like to avoid even though I know there is room for improvement.

@I don't know which route people usually take with Freedom, if they PC to FU or Slate, same with Quicksilver... BoA Citi and Discover I have seen 20k+ limits posted here on their own. BCE and ED are good choices, I have an offer to PC PRG to Platinum with 60k points for 5k in 3 months but don't feel that's worth the $550 AF, I'm logged in right now and an offer popped up for a personal loan $5,300 @ 14.97%, dont know if taking that could have any future leverage but on its own I don't need it.

Could you elaborate why exactly I need to keep an eye on Commenity? I figured I'll just let them wither away.

@austinguy907 wrote:
Maybe I'm missing something here. So, you got a bump to 10.4K and had a big BT on the card?

Yes I was decreased from 5k to $4,700 when I suddenly ramped up total Util, then Util came down and I fixed a couple of bads and they came back with 10.4k and a BT offer which I took and paid off

@austinguy907 wrote:

You menitoned buying inventory aka using personal for business.... If it was AMEX / Cap1 they'd probably shut you down.

Well that inventory was one item for resale I found on Ebay highly discounted that I had a buyer for and would pass as personal, and on top I got 2% cash back ebay bucks.

I have learned a lot here and I did climb back up from 450's FICO with bunch of collections, but I've been intermittent and so I have left better things on the table at times, the 2 commenity cards r an example as you pointed out, I saw more quality in the SPs and TCL than leveraging my score and adding the most quality. I'm reading a lot of @Anonymous's stuff and trying to mirror his approach because his goals are the same as mine.

Re: Discover it HP CLI worth it??

austinguy907 — Mon, 08 May 2017 11:04:26 GMT

Quality over Quantity is a good stance to be in at this point of your build. i.e. less is more (less store / more majors)

As to the biggest potential CL's it's going to depend on how far you want to go, how much spend, and how much income.

- This is where AMEX comes into play and the 3X roulette game. I'm currently at 50K w/o much effort. When I pushed them for more they said I don't spend enough to warrant it right now.

I managed to grow Disco from $4500 to $48K in a little over a year though and opened both AMEX / Disco within a couple of days of each other. By far AMEX grew faster like a hare and Disco kept moving along like the tortoise.

Playing the shell game with Cap1 / Chase / BOA / etc. ..... Sure for some it works and that's fine but, I personally don't see the point in it shuffling all of your spend around all of the time to max out rewards or bump CL's. Finding what works best with some research into the product is key to a long term satisfaction with your choice. i.e avoiding Synch / Commenity / Credit One / First Premier.

$300 CLD while jumping the utilization up quickly isn't as bad as I thought from your initial statement. I can see why the computer would flag that on a newer account.

Just take some time to explore. It's not going to happen over night and will take a couple of years to hit those 50K/100K/150K/200k+ milestones for a TCL. Back in the day I thought it was great just to have a card or two hitting 10K and now I have two in my wallet that come to almost 100K combined. It just takes time, patience, and restraint in some cases.

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 20:12:35 GMT

Would you close the 2 Commenity cards in favor of an older higher limit authorized user revolver in addition to bringing down Util below 10%? In theory I stand to gain from both while freeing up a slot.

Re: Discover it HP CLI worth it??

austinguy907 — Mon, 08 May 2017 20:14:03 GMT

I don't think it matters if you keep or ditch Commenity since eventually if you don't use them they'll close them.

The AU accounts can be double edged though if the primary decides to bump utilization up for a period of time then you also lose points on your reports. It's hard to say how much or little they're helping your current scores though. I think right now looking at your signature you have enough of your accounts to keep your scores decent.

It may or may not be the time to ditch the AU crutches.

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 21:12:38 GMT

The reason I ask is because you made me self conscious about the number of cards I have, the AU account I can guarantee with certainty that it will never post a balance and I could gain by adding 4 months to AAoA plus the added TCL would bring down Util a bit, from what you are saying the potential gain is not worth adding a 10th TL, or ditching Commenity (unclutter the file) and replacing it with the AU account... not even MyFico simulator is accurate? They seem to have put a lot of work into it. All my accounts are individual btw.

Re: Discover it HP CLI worth it??

austinguy907 — Mon, 08 May 2017 21:10:59 GMT

Self awareness is a good thing or you end up like some members around here with 100+ cards.

The biggest factors are paying on time, keeping reported balances low, and letting them age.

The more time and payments that pass the higher your scores go. The higher your scores go the more bullet proof your apporval odds go.

Simulators are useless because there's 100+ scoring models out there and it's not usually helpful to simulate something that's not specific to your needs.

For instance if it's a Fico 8 simulator that won't help you with a mortgage since they use 3 different models across the CRA's to evaluate you for the rate and they're all older models.

Your TCL will grow as your cards age and payments post. If you cycle through them periodically and put a small charge on them to keep them active you'll gain more points. Rule of thumb is every 6 months check for APR reductions and CLI on each account. To keep yourself busy and not apping you could pick 2 cards per month to try the reductions and increases on and you'll expedite your growth.

If you want to trim the 2 Comenity and replace with AMEX BCE/ED w/o an AF and use the monster growth of the 3X CLI every 6 months it's an option.

With the AU thing I don't like the thought of someone else's decision to charge or not to impact my scores

Re: Discover it HP CLI worth it??

Anonymous — Mon, 08 May 2017 21:19:07 GMT

Appreciate you taking the and all the advice, you seem very involved and finesed with the game, I'll be sure to follow you. Thanks!