topic Re: DISCOVER IS TOUGH WITH CLI'S in Credit Cards

DISCOVER IS TOUGH WITH CLI'S

tray — Fri, 13 May 2011 16:19:37 GMT

Hi everyone, my sixth statement cut yesterday with Discover so per the rep when I opened account my account 6months ago had stated this was the time I could request a cli. I am in need of some home improvement items and I still have a 0 apr until November and would rather use this card, I went through the phone line system to request a cli to which I did not have this option before, tons of questions was asked through the automated service, final results unable to grant a cli. So now with my persistance I called the backdoor number (which is for reconsideration for new accounts only but called anyway) spoke with a very nice lady, explained my request and why, she then transferred me to a credit ananlyst who could help me which was also very nice, I explained once again my request for a cli she then told me the automatic service declined my app for a cli due to a derogatory that I have on my TU cr the one and only HSBK, I had to explain my reasoning behind it and also informed her that account was paid in full, she proceeded to help me but advised me she would have to pull a HARD on my credit report and apparently it could only be TU, I was hesistant at first as I was also told even when my report was pulled it is still likely I would not recieve an increase, so I gave in taking my chances, she placed me on hold reviewed my report came back still inquiring about HSBK, placed me on hold again and to my luck came back and told me I was granted my increase of $1,500.00, total cl now is $4,500.00, so to my credit rebuilding story my first hard pull ever for any of my cards for a cli and unfortuantely my last with Discover for some time as I was told until this derog falls off my report which will be in 11 months I will continue to be denied a cli and discover would have to do a hard pull.

So to highlight, Discover for cli's pulls TU reports, if you have any derogs or discrepancy's HARD pull on report if clean report should be a soft per rep, also use the backdoor number as I spoke to very polite, helpful reps today, I think if I had called the regular discover number and spoke with a regular analyst my outcome would not be as good. Just some helpful hints for my friends on this forum.

Re: DISCOVER IS TOUGH WITH CLI'S

UFGuy2006 — Fri, 13 May 2011 17:04:04 GMT

I also submitted a CLI request Monday and it was a hard pull on TU. Small CLI (500) and called the back door to get a recon. Long story short even after reviewing my credit report in pretty significant detail (the CLI analyst went through all my new accounts opened in the last 12 months [note no negative items whatsoever]) they decided to stick with the 500 cli for another 6 months. I'm pretty shocked... as this is my lowest line (3.5k). My next lowest starts at 10k. They did mention however, that to get a decent CLI they look at my prior 6 months spending habits including highest balance and whether PIF. Food for thought.

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Fri, 13 May 2011 18:25:46 GMT

Very nice info here, tray! Thanks for the heads up!

It all worked out well for you in the end, as it should have.

Congrats on that increase!!

Re: DISCOVER IS TOUGH WITH CLI'S

smc733 — Fri, 13 May 2011 19:23:55 GMT

@cesarcjv wrote:
I also submitted a CLI request Monday and it was a hard pull on TU. Small CLI (500) and called the back door to get a recon. Long story short even after reviewing my credit report in pretty significant detail (the CLI analyst went through all my new accounts opened in the last 12 months [note no negative items whatsoever]) they decided to stick with the 500 cli for another 6 months. I'm pretty shocked... as this is my lowest line (3.5k). My next lowest starts at 10k. They did mention however, that to get a decent CLI they look at my prior 6 months spending habits including highest balance and whether PIF. Food for thought.

Another reason Discover is subprime.

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sat, 14 May 2011 03:47:10 GMT

@smc733 wrote:
@cesarcjv wrote:
I also submitted a CLI request Monday and it was a hard pull on TU. Small CLI (500) and called the back door to get a recon. Long story short even after reviewing my credit report in pretty significant detail (the CLI analyst went through all my new accounts opened in the last 12 months [note no negative items whatsoever]) they decided to stick with the 500 cli for another 6 months. I'm pretty shocked... as this is my lowest line (3.5k). My next lowest starts at 10k. They did mention however, that to get a decent CLI they look at my prior 6 months spending habits including highest balance and whether PIF. Food for thought.
Another reason Discover is subprime.

They are stingy about giving high CL's to people who don't have a long history with them. Doesn't sound like subprime to me. Just smart lending. Once they get to know you, they open up their wallets.

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sat, 14 May 2011 04:08:09 GMT

discover is a great company. they will be the next card I apply for in 8-12 months. I am really convservatie now about applying for credit

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sat, 14 May 2011 06:18:55 GMT

@smc733 wrote:
@cesarcjv wrote:
I also submitted a CLI request Monday and it was a hard pull on TU. Small CLI (500) and called the back door to get a recon. Long story short even after reviewing my credit report in pretty significant detail (the CLI analyst went through all my new accounts opened in the last 12 months [note no negative items whatsoever]) they decided to stick with the 500 cli for another 6 months. I'm pretty shocked... as this is my lowest line (3.5k). My next lowest starts at 10k. They did mention however, that to get a decent CLI they look at my prior 6 months spending habits including highest balance and whether PIF. Food for thought.
Another reason Discover is subprime.

How would you define subprime?

Granted Discover is not as generous as other lenders and sometimes they seem to fixate on small issues that for many of us seem irrelevant, but for me Discover is a gift from heaven.

I have a decent CL for my needs, a decent APR (not that I care), but most importantly when I use my card while travelling in Asia it is much more widely accepted than Visa, MasterCard or AmEx with no currency conversion fees + 5% cashback!

Re: DISCOVER IS TOUGH WITH CLI'S

tntexans72 — Sat, 14 May 2011 20:22:46 GMT

Had this card since 2004 w/a CL of $5K and no auto-cli at all. Called them in 2010 and asked for a CLI, CSR said how much? I said $1500. Received a response in the mail 7-10 days later and was declined. I stop using the card....2 months later, I logged in and saw a CLI of $1500 to $1650.

I carried a 10-20% balance on the CC each month, but spend about $15K-$18K annually through the card. So yeah...they are pretty tough with CLI.

Re: DISCOVER IS TOUGH WITH CLI'S

tntexans72 — Sat, 14 May 2011 20:24:54 GMT

@tntexans72 wrote:
Had this card since 2004 w/a CL of $5K and no auto-cli at all. Called them in 2010 and asked for a CLI, CSR said how much? I said $1500. Received a response in the mail 7-10 days later and was declined. I stop using the card....2 months later, I logged in and saw a CLI of $1500 to $1650.

I carried a 10-20% balance on the CC each month, but spend about $15K-$18K annually through the card. So yeah...they are pretty tough with CLI.

Correction: $1500 increased from $5K to $6,500.

My dad has a Discover card since 1989....saw a few increases over the yrs and been stucked at 15K for the last 10yrs. His CLI was always auto....

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sat, 14 May 2011 23:33:59 GMT

@tntexans72 wrote:
@tntexans72 wrote:
Had this card since 2004 w/a CL of $5K and no auto-cli at all. Called them in 2010 and asked for a CLI, CSR said how much? I said $1500. Received a response in the mail 7-10 days later and was declined. I stop using the card....2 months later, I logged in and saw a CLI of $1500 to $1650.

I carried a 10-20% balance on the CC each month, but spend about $15K-$18K annually through the card. So yeah...they are pretty tough with CLI.

Correction: $1500 increased from $5K to $6,500.
My dad has a Discover card since 1989....saw a few increases over the yrs and been stucked at 15K for the last 10yrs. His CLI was always auto....

A lot of people say $15k is high already with Discover.

I think it would be interesting to have a Discover CL thread to compare Discover with other lenders in terms of actual CLs.

Re: DISCOVER IS TOUGH WITH CLI'S

Awesomely — Sat, 14 May 2011 23:41:29 GMT

I wonder how many people have the $50,000 limit they allow on personal cards.

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sun, 15 May 2011 00:24:28 GMT

@Awesomely wrote:
I wonder how many people have the $50,000 limit they allow on personal cards.

Good question.

Where did you get the $50k figure from? Is it on their website?

Re: DISCOVER IS TOUGH WITH CLI'S

smc733 — Sun, 15 May 2011 02:25:48 GMT

@Anonymous wrote:
How would you define subprime?

Granted Discover is not as generous as other lenders and sometimes they seem to fixate on small issues that for many of us seem irrelevant, but for me Discover is a gift from heaven.

I have a decent CL for my needs, a decent APR (not that I care), but most importantly when I use my card while travelling in Asia it is much more widely accepted than Visa, MasterCard or AmEx with no currency conversion fees + 5% cashback!

I define "prime vs subprime" not on their lending criteria, but on their treatment of customers. While I love Discover, 4 things really irk me as sub-prime

1. Low credit lines

2. Hard pulls for CLI

3. Higher APRs than most

4. THE DAMN CASH ACCESS CHECKS THEY SEND ME

oh, and the .25% for the first $3,000 sucks!

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sun, 15 May 2011 04:11:57 GMT

@smc733 wrote:
@Anonymous wrote:
How would you define subprime?

Granted Discover is not as generous as other lenders and sometimes they seem to fixate on small issues that for many of us seem irrelevant, but for me Discover is a gift from heaven.

I have a decent CL for my needs, a decent APR (not that I care), but most importantly when I use my card while travelling in Asia it is much more widely accepted than Visa, MasterCard or AmEx with no currency conversion fees + 5% cashback!
I define "prime vs subprime" not on their lending criteria, but on their treatment of customers. While I love Discover, 4 things really irk me as sub-prime

1. Low credit lines
2. Hard pulls for CLI
3. Higher APRs than most
4. THE DAMN CASH ACCESS CHECKS THEY SEND ME

oh, and the .25% for the first $3,000 sucks!

I agree with you 100%.

I'd even add a #5: Trying to sell you crap when you call to ask a question.

Re: DISCOVER IS TOUGH WITH CLI'S

Coldness — Sun, 15 May 2011 06:05:02 GMT

This ^

I love my Discover More card, I do a ton of my shopping online and shopdiscover has actually given me a good chunk of change back. I won't call them unless it's an absolute emergency though - being nagged about their various credit protection scams is extremely annoying and makes me consider switching to another card alltogether.

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sun, 15 May 2011 06:34:36 GMT

@Coldness wrote:
This ^

I love my Discover More card, I do a ton of my shopping online and shopdiscover has actually given me a good chunk of change back. I won't call them unless it's an absolute emergency though - being nagged about their various credit protection scams is extremely annoying and makes me consider switching to another card alltogether.

Totally true. But HSBC is worse.

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Sun, 15 May 2011 15:09:28 GMT

I'm astounded.

I've never received anything other than outstanding customer service from Discover. And yes, my credit limit was pitiful when I first got the card, but that changed fairly quickly.

We all know that they're conservative with new accounts, and I don't blame them for that. Good usage and good payment history makes all the difference to them, just as it does to other lenders, except Discover makes you go first, before issuing higher limits. I think that's not only appropriate, but fair, too.

The couple of bucks that I may not get in meeting the $3k annual threshold (that's only $22.50/year!) makes no difference to me in light of the excellent service and loyalty they've shown to me when handling a problem or two I've had with merchants. They had my back, and made it stick.

Just saying.

(Edited to correct thumblefingers mistakes)

And, to add (and I don't know why this is), they never try to sell me anything.

Maybe they figure I'm just too hard a case to deal with.

They're probably right.

Re: DISCOVER IS TOUGH WITH CLI'S

smc733 — Sun, 15 May 2011 22:18:51 GMT

The thing is, being in college, that threshold sucks for me. I'm totally fine with a low starting limit, but I hate the idea that in 6 months, my $1,500 is probably going to become $2,000, instead of say $3,000 or $3,500 like my other cards.

I would use it a lot more if that didn't exist, hell, with their good CS (Aside from selling you things), and website/spending tools, it would be my go to card.

Re: DISCOVER IS TOUGH WITH CLI'S

DI — Sun, 15 May 2011 22:24:30 GMT

I received these messages concerning a CLI request:

Thank you for your interest in receiving a higher credit line. I understand your concern and am happy to assist you today.

The Credit Card Act of 2009 requires all credit card issuers to assess a customer's ability to repay debt before increasing a credit line on an existing account. Because you did not provide us with permission to obtain a copy of your credit report, we are unable to process your request for a credit line increase. It requires that we complete a hard inquiry.

We apologize for any inconvenience this has caused you. If you would like to proceed with your request for a credit line increase, you must provide us with permission to obtain a copy of your credit report. Please fill out a new online application and we will be happy to process your request.

We appreciate your business and the opportunity to be of service. Thank you for choosing to use Discover Card.

Sincerely,

Thanks for your reply. We do regular soft inquiries and can raise or lower your line of credit based on the information on your credit report. Your limit may not automatically increase, even if you could be approved with an application and a hard inquiry.

Hard inquiries are an important aspect of your credit report and indicate when you apply for credit. We must report accurately to the credit reporting agencies.

Occasional inquiries are not generally a significant risk factor for future credit increase requests. Discover Card offers Credit Score Tracker. It is a service that will allow you to track your credit score, notify you of changes, and give you access to credit specialists who can give you detailed advise. For more information, click the Protection Solutions link from the Tools Tab.

If you do wish to apply for an increase, you can submit a new application online or call 1-800-347-2683.

Respectfully,

Re: DISCOVER IS TOUGH WITH CLI'S

Anonymous — Mon, 16 May 2011 00:00:13 GMT

@Anonymous wrote:
I'm astounded.

I've never received anything other than outstanding customer service from Discover. And yes, my credit limit was pitiful when I first got the card, but that changed fairly quickly.

We all know that they're conservative with new accounts, and I don't blame them for that. Good usage and good payment history makes all the difference to them, just as it does to other lenders, except Discover makes you go first, before issuing higher limits. I think that's not only appropriate, but fair, too.

The couple of bucks that I may not get in meeting the $3k annual threshold (that's only $22.50/year!) makes no difference to me in light of the excellent service and loyalty they've shown to me when handling a problem or two I've had with merchants. They had my back, and made it stick.

Just saying.

(Edited to correct thumblefingers mistakes)

And, to add (and I don't know why this is), they never try to sell me anything.
Maybe they figure I'm just too hard a case to deal with.
They're probably right.

And I agree 100% with that, too!

The *only* thing that annoys me (and not only with Discover) is when they want to sell me stuff and won't take a polite "No" as an answer. Discover is pretty good when I tell them "No, thanks", but the midgets at HSBC are truly pushy and annoying.