topic Re: Discover Credit Line Increases in Credit Cards

Discover Credit Line Increases

Anonymous — Sun, 01 Jul 2007 04:50:25 GMT

In 24 hrs I've requested 4 credit line increases. Citibank is now at $25K, Chase is now at $30K, haven't heard from HSBC and Discover, they're a different animal all together. I got my Discover card about a year and a half ago with the 0% for life of the BT. I've made ontime payments and have never been late. I've requested 3 CL increases (one every six months) and have been denied every time. Well, I take that back, they did approve me for a $100 credit line increase last time after doing a hard pull on my EX report. Has anyone else had issues in getting CLI's from Discover?

Re: Discover Credit Line Increases

fused — Sun, 01 Jul 2007 19:10:50 GMT

crocpa wrote:
In 24 hrs I've requested 4 credit line increases. Citibank is now at $25K, Chase is now at $30K, haven't heard from HSBC and Discover, they're a different animal all together. I got my Discover card about a year and a half ago with the 0% for life of the BT. I've made ontime payments and have never been late. I've requested 3 CL increases (one every six months) and have been denied every time. Well, I take that back, they did approve me for a $100 credit line increase last time after doing a hard pull on my EX report. Has anyone else had issues in getting CLI's from Discover?

Congrats, you are the proud cardholder of the #1 credit stickler in the U.S.! Approvals are uncommon and CLIs are not very easy either.

Re: Discover Credit Line Increases

Anonymous — Sun, 01 Jul 2007 21:39:25 GMT

Crocpa...Not trying to be too personal...but what ranges does someone salary have to be... in order to have a 25K+ CL? I know the scores got to be great...but I know salary plays a role also.

Message Edited by SGT_F on 07-01-2007 02:39 PM

Re: Discover Credit Line Increases

MidnightVoice — Sun, 01 Jul 2007 21:43:06 GMT

SGT_F wrote:
Crocpa...Not trying to be too personal...but what ranges does someone salary have to be... in order to have a 25K+ CL? I know the scores got to be great...but I know salary plays a role also.

Message Edited by SGT_F on 07-01-2007 02:39 PM

According to CS 101:

What types of information are NOT used in calculating my FICO score?

1. Your race, color, religion, national origin, sex or marital status

2. Your age

3. Your salary, occupation, title, employer, date employed or employment history

4. Where you live

5. Certain types of inquiries such as promotional, account review, insurance or employment related inquiries

6. Any information not found in your credit file

7. Any information that is not proven to be a predictive of future credit performance

And if they just pull CRA they don't actually know your salary and assets. This is why mortgage companies ask those questions,

Re: Discover Credit Line Increases

fused — Sun, 01 Jul 2007 22:03:20 GMT

MidnightVoice wrote:

SGT_F wrote:
Crocpa...Not trying to be too personal...but what ranges does someone salary have to be... in order to have a 25K+ CL? I know the scores got to be great...but I know salary plays a role also.

Message Edited by SGT_F on 07-01-2007 02:39 PM

According to CS 101:

What types of information are NOT used in calculating my FICO score?

1. Your race, color, religion, national origin, sex or marital status

2. Your age

3. Your salary, occupation, title, employer, date employed or employment history

4. Where you live

5. Certain types of inquiries such as promotional, account review, insurance or employment related inquiries

6. Any information not found in your credit file

7. Any information that is not proven to be a predictive of future credit performance

And if they just pull CRA they don't actually know your salary and assets. This is why mortgage companies ask those questions,

How about a nice body, great looks or maybe intelligence?

Re: Discover Credit Line Increases

MidnightVoice — Sun, 01 Jul 2007 22:06:16 GMT

fused111 wrote:

How about a nice body, great looks or maybe intelligence?

Wow - now I know why I got that Juniper/Barclays card so easily!!

That and the fact they pull TU, and TU loves me.

Message Edited by MidnightVoice on 07-01-2007 05:06 PM

Re: Discover Credit Line Increases

fused — Sun, 01 Jul 2007 22:13:19 GMT

MidnightVoice wrote:

fused111 wrote:

How about a nice body, great looks or maybe intelligence?

Wow - now I know why I got that Juniper/Barclays card so easily!!

That and the fact they pull TU, and TU loves me.

Message Edited by MidnightVoice on 07-01-2007 05:06 PM

I've been hearing Barclays Bank Delaware wants to see scores over 720 when applying for the Juniper card. Have you heard the same? What was your TU score? APR? I can't find there website can you paste it for me.

Re: Discover Credit Line Increases

MidnightVoice — Sun, 01 Jul 2007 22:35:08 GMT

https://www.juniper.com/ A Casey's General Store MC about 15% APR, no annual fee, rebates on gas (the rearson I wanted it), TU was in the high 700s at the time, $7,500 instant approval on line

Re: Discover Credit Line Increases

fused — Sun, 01 Jul 2007 23:05:27 GMT

MidnightVoice wrote:
https://www.juniper.com/ A Casey's General Store MC about 15% APR, no annual fee, rebates on gas (the rearson I wanted it), TU was in the high 700s at the time, $7,500 instant approval on line

Congrats! Thanks for the link.

Re: Discover Credit Line Increases

Anonymous — Mon, 02 Jul 2007 00:50:39 GMT

SGT_F wrote:
Crocpa...Not trying to be too personal...but what ranges does someone salary have to be... in order to have a 25K+ CL? I know the scores got to be great...but I know salary plays a role also.

Message Edited by SGT_F on 07-01-2007 02:39 PM

$149K. I didn't start with these credit lines though. I build them up by:

1. Doing BT

2. Paying for 6 months then paying them off completely

3. Requesting credit line increase.

And the wheel goes round and round.

Re: Discover Credit Line Increases

Anonymous — Mon, 02 Jul 2007 01:03:07 GMT

MidnightVoice wrote:

SGT_F wrote:
Crocpa...Not trying to be too personal...but what ranges does someone salary have to be... in order to have a 25K+ CL? I know the scores got to be great...but I know salary plays a role also.

Message Edited by SGT_F on 07-01-2007 02:39 PM

According to CS 101:

What types of information are NOT used in calculating my FICO score?

1. Your race, color, religion, national origin, sex or marital status

2. Your age

3. Your salary, occupation, title, employer, date employed or employment history

4. Where you live

5. Certain types of inquiries such as promotional, account review, insurance or employment related inquiries

6. Any information not found in your credit file

7. Any information that is not proven to be a predictive of future credit performance

And if they just pull CRA they don't actually know your salary and assets. This is why mortgage companies ask those questions,

Your right! FICO is not based on your salary. The creditor's decision is though. The FICO people tell us that the creditors decision is based on other factors such as salary, debt to income ratios, length of employment and for mortagages: IRA balances and other assets. Tip for those renting: If your credit report doesn't show a mortgage, this can be better than you think. It could be because you've paid off your mortgage. This leads the lender to conclude that you have more discretionary income to pay your debt and thereby extend you a higher credit line. FICO rewards higher credit lines than smaller ones according to someone that recently posted an excellent explanation for the FICO formula. Certain credit card companies give higher CL's than others. Please don't carry a balance on your CC unless it's to make a profit by using arbitrage.

Re: Discover Credit Line Increases

fused — Mon, 02 Jul 2007 01:28:10 GMT

crocpa wrote:

How about renters who have never owned? Yes, this is a leading question!

Re: Discover Credit Line Increases

Anonymous — Mon, 02 Jul 2007 01:47:25 GMT

For the purpose of non-mortgage lending: the creditor cannot differentiate between a borrower that is a renter and another who paid off their home more than ten years ago OR who's current mortgage company reports to another CRA.

Re: Discover Credit Line Increases

fused — Mon, 02 Jul 2007 02:35:13 GMT

crocpa wrote:
For the purpose of non-mortgage lending: the creditor cannot differentiate between a borrower that is a renter and another who paid off their home more than ten years ago OR who's current mortgage company reports to another CRA.

Perhaps!

Re: Discover Credit Line Increases

antredd67 — Tue, 03 Jul 2007 01:29:58 GMT

In April of 2006, I applied for a Discover CArd, and they approved me with a $6 000 credit limit. In March of this year, I asked them for a credit line increase when I was at about 45% UT. Discover told me that I have a sufficient amount of credit, thus denying me.

But, Wamu has been very good with credit line increases of $1,500-3,000 thousands each year since starting me with a $5,000 credit limit visa card in 2003. I applied for their offer of 30,000 credit limit last March, they gave me $3000 instead, but I closed the account since I didn't want another new card on my credit report. Not thinking, since they had approved me for another visa card, I could have merged that visa credit card with my current WAMU visa card increasing my credit limit from 12,000 to 15,000. I have done that before with MBNA, and as a result boosting my fico score 6 points each time I was able to merge visas or mastercards at the same bank/credit card company.

Re: Discover Credit Line Increases

fused — Tue, 03 Jul 2007 01:59:54 GMT

antredd67 wrote:
In April of 2006, I applied for a Discover CArd, and they approved me with a $6 000 credit limit. In March of this year, I asked them for a credit line increase when I was at about 45% UT. Discover told me that I have a sufficient amount of credit, thus denying me.

But, Wamu has been very good with credit line increases of $1,500-3,000 thousands each year since starting me with a $5,000 credit limit visa card in 2003. I applied for their offer of 30,000 credit limit last March, they gave me $3000 instead, but I closed the account since I didn't want another new card on my credit report. Not thinking, since they had approved me for another visa card, I could have merged that visa credit card with my current WAMU visa card increasing my credit limit from 12,000 to 15,000. I have done that before with MBNA, and as a result boosting my fico score 6 points each time I was able to merge visas or mastercards at the same bank/credit card company.

What were your FICO scores when you applied for your Discovercard and do you remember which CRA they pulled?

Re: Discover Credit Line Increases

Marv94 — Thu, 27 May 2010 05:01:20 GMT

Does anyone know which CRA they use to pull credit?

Re: Discover Credit Line Increases

fused — Thu, 27 May 2010 21:50:13 GMT

Discover usually pulls EX or TU, but as always, your mileage may vary.

Re: Discover Credit Line Increases

TangMeister — Thu, 27 May 2010 23:25:22 GMT

@fused wrote:
Discover usually pulls EX or TU, but as always, your mileage may vary.

Amazingly enough, they pulled EQ for me and at least 2 different people I know down here in So Cal...where almost everyone else pulls EX. They always soft inq TU, though. I like Discover, but they're kind of quirky, ya know?

Re: Discover Credit Line Increases

fused — Fri, 28 May 2010 00:54:07 GMT

True! I know of a couple of people in the Southeast who stated Discover pulled their EQ reports too. As far as I know, this is not very common. That is why I wrote your YMMV. LOL!