topic Re: What is wrong with Discover? (CLI) in Credit Cards

What is wrong with Discover? (CLI)

Anonymous — Mon, 26 Jul 2010 22:10:59 GMT

No matter how hard I try I can't seem to scare them off. Here I am carrying balances worrying about everyone CLDing me or closing my accounts, and they give me a $700 CLI?

Its bad enough they were already my highest limit by $100, but they had to up the ante from $3600 to $4300, didn't they?

I maxed out this and one other card while finishing up school. Now that I've graduated and promptly paid back only half the balance, they saw it fit to bump me up, rather than chasing my balance. They must be crazy.

[/sarcasm]

<3 Discover

Re: What is wrong with Discover? (CLI)

blacklotus — Mon, 26 Jul 2010 22:14:50 GMT

I think they are trying to reward you. I wouldn't complain it will lower your total utilization and bump up your Fico score- just pretend you never got it so you aren't tempted to use it.

Re: What is wrong with Discover? (CLI)

Anonymous — Mon, 26 Jul 2010 22:22:32 GMT

Well just this past statement cycle BoA CLId me to within $100 of my Discover CL, so I think Discover felt the pressure, because they know they're my #1 card. I put about $2000/mo. through my Discover card.

That or they just thought it was time for a CLI. The BoA CLI, which was really just a restoration of my previous balance plus a $500 CL fee I tacked on for them pissing me off by CLDing me, is the only CLI I have ever requested. And Discover is the only CCC that has seen fit to bestow upon me CLIs completely out of the blue without request. All my other cards haven't budged in the 2.5 years I've had them. With the exception of my bank credit card, but an increase from $500 to $1100 over the course of 6 years is hardly outstanding.

Re: What is wrong with Discover? (CLI)

blacklotus — Mon, 26 Jul 2010 22:31:09 GMT

A $600 CLI over 6 years??? It seems to me you could've sock drawered that CC and got a higher CLI.

Looking at your Fico's it seems they are going up steadily- watch out for the "rebucketing" effect. It happened to me when I hit about 720's. Since then its been like a rocket ship and I haven't looked back. This all happened from me opening some new cards with relatively decent CL's.

Re: What is wrong with Discover? (CLI)

Anonymous — Mon, 26 Jul 2010 22:32:12 GMT

Well, to be perfectly honest, my scores were in the 740s before my final year of college when I lazied it up and just lived off of scholarship and credit cards. I went from $0 in CC debt to $8500 over the course of the year. No late payments or derogs, just the high util lowered my scores to what you see in my sig. The increase, or "rebound," has been primarily due to me paying it down to $4500 over the past 3 months.

Re: What is wrong with Discover? (CLI)

blacklotus — Mon, 26 Jul 2010 22:42:01 GMT

Caveat on my last post my TU score actually hit 760 when I was rebucketed- I posted in the Fico High Achiever's thread when it did- then I was rebucketed. I feel like the rebucket has actually strengthened my scores- I just got the Amex Premier Rewards Gold Card and the only noticeable hit I took was EQ from 745 to today's 739. It seems that after the rebucket my scores go up alot faster than they go down. Just my observations.

I'm not saying it will happen to you because of your score jump just that it may.

EDIT: Just to lend more credibility to my hypothesis I also got an iPhone4 and AT&T pulled all three CBR's!!! I had to pay 0 down for the contract.