topic Re: Discover Secured graduated but no credit increase in Credit Cards

Discover Secured graduated but no credit increase

Anonymous — Tue, 18 Aug 2020 06:07:18 GMT

I put 2k down Discover Secured card.. Yes it graduated but no CLI. Should I ask for increase or wait till the 13th statement cuts with zero balance reporting?

Re: Discover Secured graduated but no credit increase

BmoreBull — Tue, 18 Aug 2020 11:31:16 GMT

You deposited close to the max deposit of $2500. From what I've seen most people that get an increase, when they graduate, are on the lower end of the deposit. The people that I have seen with 2000-2500$, don't usually get a bump when they graduate. I read around here that Discover is only giving cli, after the one year mark on new cards now. If your card is at or over the one year, you may be able to double dip. It's a sp, so I say go for it.

Re: Discover Secured graduated but no credit increase

KLEXH25 — Tue, 18 Aug 2020 11:42:15 GMT

@Anonymous wrote:
I put 2k down Discover Secured card.. Yes it graduated but no CLI. Should I ask for increase or wait till the 13th statement cuts with zero balance reporting?

Asking for a CLI with or without a balance probably doesn't matter. They will use the score from your last SP, though even that may be delayed. Lots of mixed DPs out there so anything goes. Give it a try...you can always ask again later.

Re: Discover Secured graduated but no credit increase

KJinNC — Thu, 20 Aug 2020 20:28:10 GMT

If anybody ever cracks the code of how Discover makes CL or CLI decisions, it will be an epic thread here, because most of us are utterly baffled by their decision-making.

I opened a secured card in May 2019 with a $500 deposit/CL. About a month later, I increased my deposit/CL to $1,000. In December, they unsecured my card right on schedule and bumped me up to $1,500. Since then, I have frequently requested CLIs and always have been rejected, until about a week ago, when they gave me a massive $300 increase, to $1,800. For context, I got an Amex with a $20k CL and another with a $10k CL (I've since moved CL between cards), a Citi with an $11k CL, and my PPMC is at $10k. My income is not astronomical but it's well into six figures. Of course, there are some odd things about my profile (heavy credit-seeking, low account ages), but it's interesting how some lenders like me and Discover dislikes me. NFCU also is highly skeptical of me

Re: Discover Secured graduated but no credit increase

Jetiquette — Thu, 20 Aug 2020 21:24:45 GMT

You will have trouble getting a CLI until month 13. Most people who graduate from secured are given a credit limit in the $2K range.