topic Re: discover cli stingy? in Credit Cards

discover cli stingy?

revvystoke — Tue, 26 Apr 2011 17:57:27 GMT

I make around 48k a year and discover is being very stingy with their clis. I have a BofA card that started at 2500 a few months ago and I used the online button and they gave me another 1k last week. I tried calling discover and I hung up before the automated cvr could transfer me to a rep which in my experience means they need to do a hard pull. I got the card two years ago with a limit of 500, and it went up to 1250 in January. It is my oldest card. I have never maxed it out or been late on a payment. I like their rewards but the low limit keeps me from using it much.

Edit; I forgot to list my scores, I was at 674 when I asked for the cli, I am at 634 now because I used the ak air card to buy tickets and it will be pif'd today.

Re: discover cli stingy?

aftermath — Tue, 26 Apr 2011 18:09:42 GMT

From my experience, Discover basis their CLI according to your spending habits.

If you use it often and pay the balance down multiple times a month, then to them it seems like you need more spending headroom and will raise your CL.

My wife had a Discover with a starting CL of $1500. She maxed it out and paid it down twice a month for a few months. So technicially, she was spending $3000 a month on a $1500 credit card.

Discover gave her an automatic CLI to $4000.

Re: discover cli stingy?

revvystoke — Tue, 26 Apr 2011 18:15:01 GMT

Thats probably the reason then, when I first got it I would do that same thing, but the limit was so low my util was all over the place so I sockdrawed it and just used debit.

Re: discover cli stingy?

aftermath — Tue, 26 Apr 2011 18:17:38 GMT

Just pay the balance off before the statement date and you wont have to worry about utilization.

Why use a debit card when you can get rewards for spending your money with Discover while at the same time building a relationship with them.

Re: discover cli stingy?

revvystoke — Tue, 26 Apr 2011 18:20:17 GMT

I was using the ak air debit card, the miles really pile up.

Re: discover cli stingy?

Anonymous — Tue, 26 Apr 2011 18:32:22 GMT

This is just what I am doing.

I charge all of the budgeted expenses each week and track them. Then on Sunday mornings, I pay all of the previous weeks credit card purchases. Easy to do and keeps me honest with the money.

Last month. I ran just under $5k through Discover and this is with a $1500 line. I think soon enough they will see that I need more available and give me the increase.

On a side note, I did contact them and complain that my line was too low and if they expected me to use their card as my "go to " card, I needed a CLI. The nice lady told me they would look again at me after 60 days... I can be rather firm when needed and I do not let the CRS intimidate me. I guess that is a sign of getting older - LOL!

So maybe sooner than later. I guess I will find out at the end of May!

Ray

Re: discover cli stingy?

Anonymous — Wed, 27 Apr 2011 03:58:56 GMT

I am taking a different approach. I am not using my card anymore until they show me any sign of appreciation (CLI, balance transfer offer... etc) for my business. IMO they should learn to be more competetive they're not the only (nor the best) lender on the market. I'll give my business to those who appreciate it.

Re: discover cli stingy?

aftermath — Wed, 27 Apr 2011 17:06:23 GMT

@Anonymous wrote:
I am taking a different approach. I am not using my card anymore until they show me any sign of appreciation (CLI, balance transfer offer... etc) for my business. IMO they should learn to be more competetive they're not the only (nor the best) lender on the market. I'll give my business to those who appreciate it.

Do you know how they will show you their appreciation if you don't use their card anymore?

They will close your account down due to inactivity.

Because you feel like you deserve more credit from them, in actuallity you will lose credit.

Re: discover cli stingy?

haulingthescoreup — Wed, 27 Apr 2011 17:11:55 GMT

@aftermath wrote:
@Anonymous wrote:
I am taking a different approach. I am not using my card anymore until they show me any sign of appreciation (CLI, balance transfer offer... etc) for my business. IMO they should learn to be more competetive they're not the only (nor the best) lender on the market. I'll give my business to those who appreciate it.
Do you know how they will show you their appreciation if you don't use their card anymore?

They will close your account down due to inactivity.

Because you feel like you deserve more credit from them, in actuallity you will lose credit.

+1 Very true.

Each of us has the right to handle our cards however we see fit, but if someone gets irritated at a lender and decides to sock-drawer their card, I can assure you that the CEO of the bank is not lying in bed at night, staring at the ceiling, traumatized by this consumer action.

I've had some dud cards. Most of them I've cancelled, having decided that they weren't going to get better, and they weren't really worth it anyway. I kept my Chase Freedom open because they finally got me into the 5% rewards program, and I was making a chunk of change off of them. To my amazement, they increased my CL without my asking, and it's now up to a whopping $4K (from $2500.)

--and I'm pretty sure that the auto-CLI resulted from my increased usage during that wonderful six-month period of 5% on groceries.

Again though, it's our own decisions whether we want to fool with a card that doesn't seem to be going anywhere. Just don't be terribly surprised if non-usage does not improve things.

Re: discover cli stingy?

Anonymous — Thu, 28 Apr 2011 04:01:16 GMT

Well I won't lose any sleep over it if they cancel it but it seems counterintuitive to let them make money off of me. And just like they will lose one consumer they will lose more (or at least they should)

Re: discover cli stingy?

aftermath — Thu, 28 Apr 2011 06:11:32 GMT

The only person who should be making money off of someone is you.

Beat them at their own game.

Use their card for their cashback rewards.

Pay in full before your balance.

They pay you, and you don't spend a single penny on them.

You win, they lose.

Re: discover cli stingy?

Anonymous — Thu, 28 Apr 2011 11:25:17 GMT

Perfectly state aftermath!

Play the game correctly and you will win - every time.

Ray

Re: discover cli stingy?

haulingthescoreup — Thu, 28 Apr 2011 18:25:12 GMT

@aftermath wrote:
The only person who should be making money off of someone is you.

Beat them at their own game.

Use their card for their cashback rewards.

Pay in full before your balance.

They pay you, and you don't spend a single penny on them.

You win, they lose.

Discover isn't making any money off of you. Well, unless you're carrying a balance and paying interest, and there's absolutely no reason on God's green earth to routinely do that.

Even if you're not making money off of them by not using whatever rewards system is going on, CCC's don't make money off of consumers unless there's a fee or you're paying interest.

Re: discover cli stingy?

KingAdrock — Thu, 28 Apr 2011 19:27:02 GMT

A common complaint about Discover is generally small CLs. Huge CLs just don't seem to be their MO.

Re: discover cli stingy?

Anonymous — Thu, 28 Apr 2011 20:35:31 GMT

@aftermath wrote:
From my experience, Discover basis their CLI according to your spending habits.

If you use it often and pay the balance down multiple times a month, then to them it seems like you need more spending headroom and will raise your CL.

My wife had a Discover with a starting CL of $1500. She maxed it out and paid it down twice a month for a few months. So technicially, she was spending $3000 a month on a $1500 credit card.

Discover gave her an automatic CLI to $4000.

I think so too.

http://ficoforums.myfico.com/t5/Credit-Cards/Pulled-the-trigger-on-CLI-with-Discover/td-p/888470

I am happy with current CL on my Discover More.

Re: discover cli stingy?

Anonymous — Fri, 29 Apr 2011 05:21:17 GMT

Started with $1000 Discover More in Jan 08, lowest CL, same time I got Amex, Citi, BofA, and Chase, with CL's ranging from $1400 (Citi) to $5000 (Chase & BoFA). I called Discover a few times for CLI, always denied for not using it enough.

In August 2010, I got a couple new cards, another BoFA and Citi (both $6000). After one of them started reporting, Discover auto CLI'd me a couple weeks later to $1500...which was $100 above my Citi. Took that as a slap in the face and sock drawered Discover for a bit.. Not that I'd been using it much anyway.

Then they started sending me a bunch of decent offers...some I had no use for, but I appreciated the effort. Started using it again a little bit. Signed up for most of the offers, even ones I didn't necessarily plan to use like 1.9% on new purchases. Or free cash back for setting up something on autopay (netflix).

The beginning of this month, I got approved for CC's with Penfed, Navy, and PSECU. I tried for CLI's with Citi (told me hard pull, hung up), Amex ($2400 > $7000), and Discover. I asked for $2000 from Discover to go to $3500, through phone automated system. It tried to xfer me to a rep, so I hung up. My Penfed started reporting about a week ago, the only new card that is reporting.

I logged into Discover today to find they CLI'd me from $1500 (2nd lowest, because Citi is still $1400 lol) to $7500. The highest my reports show is the $7000 Amex I just got CLI'd to. So Discover actually thinks they're the high water mark...never though I'd see the day. Unfortunately they're wrong. But again, I appreciate the effort and put them back in my wallet today.

For the record, I only spent $3700 over the past 24 months on it. $2100 over the last 12. And only $400 this year. Two months this year was only an $11 netlfix autopay charge. So I'm not doing what they always tell me to do, they're just getting jealous that I'm seeing other women.

Re: discover cli stingy?

Anonymous — Fri, 29 Apr 2011 17:57:23 GMT

Thank you shadow2k your post was very useful to me