topic Re: Why is Discover keeping my CL so low? in Credit Cards

Why is Discover keeping my CL so low?

Anonymous — Mon, 17 Jul 2017 12:54:40 GMT

I got a student Discover card about a year and a half ago. The initial limit was $750 and has been steadily rising. It was $2,000 and after today's CLI request they only offered $509 to make it $2500. Meanwhile about 6 months ago I got approved for an Amex BCE revolver with a 10k limit right off the bat. Then last month requested it be raised to 20k and was instantly approved. Why is Discover so stingy with the CL increases?

Re: Why is Discover keeping my CL so low?

yfan — Mon, 17 Jul 2017 15:29:55 GMT

Every lender is different on how they treat each customer, and part of it is based on the customer's profile not just presently but when they started with a given lender.

Re: Why is Discover keeping my CL so low?

AverageJoesCredit — Mon, 17 Jul 2017 16:34:38 GMT

Besides the recent rise on defaults on their cc's and a " system fix " needed in march, Discover is so topsy turvy on who it gives cli to ive given up trying to figure them out.

Re: Why is Discover keeping my CL so low?

happypill — Mon, 17 Jul 2017 16:43:14 GMT

I've had the same experience with Discover. They send me a pre-approval mailer about a year and a half ago and gave me a starting CL of $800. I did have some derogs on my report at the time, but I also had other cards with limits up to $30k. Since then, they've given me a few increases up to $2300, but it is far lower than the limits I have received on other cards.

I think Discovere has, to quote Hillary Clinton, "a bucket of deplorables". So, if you're in that bucket, even if you get approved for a card, you're never in line for the juicy limits that they hand out quite easily to others. Nothing you can do about it really, every lender has their own policies. I just use my card for the 5% categories that are useful to me when they come up. Maybe that's another reason why I haven't gotten big increases. I only use the card for 5% categories and have never carried a balance or paid any fee on it; so with the double bonus in the first year, I'm sure thy have lost money on my account.

Re: Why is Discover keeping my CL so low?

Anonymous — Mon, 17 Jul 2017 18:46:41 GMT

It is possible that Discover "bucketed" you at the time of your approval? That happened to me with several other cards. Bank of America did that to me and although I can get the CL's, I cannot get good interest rates with them. Over time, I am gradually getting the interest rates lowered, but not everyone has to do that. Just a thought...

On the other hand, just hanging in there and using your CL well will often do the trick. Good luck!

Re: Why is Discover keeping my CL so low?

Anonymous — Mon, 17 Jul 2017 19:47:42 GMT

Mine is only at 900, have been with them 18 months and never had an increase. (score really didn't justify it til now)I will be asking for one by the end of the week, so will report back.

I am debating whether it will help to call vs just hit the button on my account page, have heard that works better sometimes.

Re: Why is Discover keeping my CL so low?

mitchblue — Mon, 17 Jul 2017 20:07:17 GMT

From $750 to $2500 in 18 months? Count yourself lucky and be very blessed.. Many on here don't get that with Discover.. Over much longer times. Over 300% CLI. That's quite a bit.

Re: Why is Discover keeping my CL so low?

Anonymous — Mon, 17 Jul 2017 22:48:44 GMT

I for one do understand how fortunate I've been with Discover - I got a $2500 SL in late March, which is pretty astonishing for someone at my stage of rebuilding at that point, and less than four months later I'm at $3300 after a double-dip CLI last month. I whiffed on a CLI attempt this month, but that probably might only mean I'm on the 60-day or 90-day schedule considering that the reason given for being declined was that I didn't have enough experience at my current credit line.

Re: Why is Discover keeping my CL so low?

Anonymous — Tue, 18 Jul 2017 04:10:54 GMT

@mitchblue wrote:
From $750 to $2500 in 18 months? Count yourself lucky and be very blessed.. Many on here don't get that with Discover.. Over much longer times. Over 300% CLI. That's quite a bit.

Great post above and one that I think the OP needs to consider as well as everyone else. CLIs are very often considered based on percentage, not dollars. Going from $750 to $2500 in a year and a half on this Discover account was a 3-1/3X increase. You said you got an Amex card at a $10k SL. The increase you received from Discover would be equal to you bringing that Amex card from $10,000 to $33,333 in terms of percentage. I get it that the dollars aren't nearly as flashy with the Discover account, but when you think in terms of percentage you're not doing bad at all.

Another question, how did your credit profile 18 months ago (at the time of Discover approval) compare to it today? What was your FICO score with Discover at the time you were approved? What is it now? The fact that they only approved you for a $750 limit to me suggests that there was one of two things going on with your profile. One, it was young and/or thin or two, it had negative information on it. Both of these things in an 18 month period could be rectified, though, meaning that your current profile may be much stronger. You said you were approved for the $10k Amex line about 6 months ago, which would have been 1 year after the Discover approval. A lot can happen in that year. Do you feel if you apped for the Amex card at the time you apped for Discover that you would have been given the $10k SL at that time? Just some different things to take into consideration here.

Re: Why is Discover keeping my CL so low?

9CLINE — Tue, 18 Jul 2017 04:46:52 GMT

+1 that info MitchBlue & BBS,,, lot of times folks say they aren't getting anything without really seeing what they have gotten... Also more than majority of us have gotten in last having been cardholders longer...

Re: Why is Discover keeping my CL so low?

Anonymous — Tue, 18 Jul 2017 05:30:12 GMT

Discover gives high credit limits, but it seems to be proportional to income as long as your credit score is good. You mentioned you are a student, that's probably why.

Re: Why is Discover keeping my CL so low?

mongstradamus — Tue, 18 Jul 2017 05:54:11 GMT

Discover can be a weird one I remember back when I got my discover card, I was waiting and waiting to get sp CLI maybet two years or so nothing. . Once the CLi started coming they cameevery few months fairly consistently

Re: Why is Discover keeping my CL so low?

Anonymous — Tue, 18 Jul 2017 11:58:55 GMT

JohnC95, if you stop back into this thread and could give a little more information on your credit file it would be useful in further diagnosis of what you have going on and possibly answer some of the possibilities that I brought up on the last page. Specifically if you could provide us with your FICO score at the time you were approved with Discover, what it was when you were approved for Amex and what it is now that would be helpful.

You said you are a student and your user name may suggest that you're 21-22 years old, so I'm thinking your credit file is rather thin and young. Rewind 18 months when you were approved for your Discover card and you may have been 19-20 years old with an even younger/thinner file and more than likely in possession of a lower credit score. This is my best guess as to why your SL with Discover was $750.

Re: Why is Discover keeping my CL so low?

Anonymous — Tue, 18 Jul 2017 17:36:00 GMT

@Anonymous wrote:
JohnC95, if you stop back into this thread and could give a little more information on your credit file it would be useful in further diagnosis of what you have going on and possibly answer some of the possibilities that I brought up on the last page. Specifically if you could provide us with your FICO score at the time you were approved with Discover, what it was when you were approved for Amex and what it is now that would be helpful.

You said you are a student and your user name may suggest that you're 21-22 years old, so I'm thinking your credit file is rather thin and young. Rewind 18 months when you were approved for your Discover card and you may have been 19-20 years old with an even younger/thinner file and more than likely in possession of a lower credit score. This is my best guess as to why your SL with Discover was $750.

Out of curiosity, I went to one of those sites that calculates inflation over time and plugged in the SL of the first credit card I ever got, a $500 SL Visa which I was approved for in May 1985 shortly after I graduated college. That $500 SL in 1985 would translate to, rounding off, $1,136 today, so I think the OP didn't do too badly for a starter card for someone who's still in college (their $750 SL would have been $330 in 1985).

Re: Why is Discover keeping my CL so low?

K-in-Boston — Tue, 18 Jul 2017 18:15:10 GMT

@Anonymous wrote:
Discover gives high credit limits, but it seems to be proportional to income as long as your credit score is good. You mentioned you are a student, that's probably why.

I'd have to respectfully disagree. Discover is all over the map when it comes to credit limits. My starting line was barely over 1% of income. Quite a few high earners with mediocre/moderate Discover limits and lots of modest earners with huge Discover limits here.

Re: Why is Discover keeping my CL so low?

Anonymous — Thu, 20 Jul 2017 02:21:48 GMT

@K-in-Boston wrote:
@Anonymous wrote:
Discover gives high credit limits, but it seems to be proportional to income as long as your credit score is good. You mentioned you are a student, that's probably why.
I'd have to respectfully disagree. Discover is all over the map when it comes to credit limits. My starting line was barely over 1% of income. Quite a few high earners with mediocre/moderate Discover limits and lots of modest earners with huge Discover limits here.

I agree with you, same day app and approval, one TL 15000 and Discover 1000, increased to 1250 after a call. I argued that what I can do with 1000, and over the phone it was increaed to 1250. As you stated, this is like a lot less than 1% of my income.

The only reason was for restaurant spending right now... And I found out today that my most frequent restaurant accept every other credit cards except Discover.

Re: Why is Discover keeping my CL so low?

Anonymous — Thu, 20 Jul 2017 02:33:43 GMT

I jumped on here forums this evening to pose this exact question but thankfully found this thread! I opened my discover card TWO years ago as a secured it card. I graduated and received my deposit of $200 back. Since then my CL has not BUDGED past $200. I try and try and try and still nothing. Credit scores are much better then when I started obviously. Sitting at 640-660-670 and still can’t catch a break. I have two Navy cards with $18k limits. I can not catch a break with Discover!

Re: Why is Discover keeping my CL so low?

Anonymous — Thu, 20 Jul 2017 05:12:30 GMT

With your $200 limit being so low, have you put a $200 spend on it in a single month? Have you done multiple payments and actually spent over your limit in a cycle? I would suggest those things if you haven't yet done them, as they can sort of force the CLI hand.

Re: Why is Discover keeping my CL so low?

mongstradamus — Thu, 20 Jul 2017 15:15:50 GMT

It took ne almost two years to get my first cli with discover,but once you get ball rolling you will get consistent CLI until you hit their limit they will give you. My initial credit limit was also quite low in the 1000 range

Re: Why is Discover keeping my CL so low?

Anonymous — Thu, 20 Jul 2017 18:02:32 GMT

I've had my Discover card since 2001. I started out at 1500 and got an increase to 1700 about a year later. Didn't receive another increase from them until 2015. Now the card is at $14,800. So it could take a looooong time. LOL sorry.