topic Re: Discover Auto CLI After 3rd Statement!!! in Credit Cards

Discover Auto CLI After 3rd Statement!!!

daytrade5 — Tue, 14 Jun 2011 13:35:49 GMT

This morning I logged into my accounts as I normally do & saw that Discover had given me an auto cli of $350. Now, this is not much at all, but it’s something & I didn’t

ask for it . My 3rd statement was cut just the other day so there’s some truth to Discover giving auto cli’s after your 3rd statement, maybe I’ll get another after my 6th statement! I’ve used my card pretty responsibly & racked up a fair amount of cashback bonus. I PIF before each statement cutoff date with the exception of one time which I left $10 bucks on my balance to report. The customer service is GREAT with Discover & don’t forget to ask for any promotional offers when you talk to the CSR’s. I earned $20 bucks cashback ($1 per purchase) for using the card to purchase things I was already gonna buy in stores!

Re: Discover Auto CLI After 3rd Statement!!!

daytrade5 — Tue, 14 Jun 2011 13:37:08 GMT

Sorry for the formatting error...

Re: Discover Auto CLI After 3rd Statement!!!

smc733 — Tue, 14 Jun 2011 13:39:16 GMT

Sweet! Good to hear. I'm hoping for some love after my 6th statement, but I'm not keeping my hopes up.

Re: Discover Auto CLI After 3rd Statement!!!

RockinRay — Tue, 14 Jun 2011 14:12:39 GMT

Yes - that is great for you!

My third statement custs this month and I am hoping for a little raise so to speak. I am in hopes that it will happen. I have run close to $7500 through the card so they should pay attention!

Congrats!

Ray

Re: Discover Auto CLI After 3rd Statement!!!

daytrade5 — Tue, 14 Jun 2011 14:51:09 GMT

@smc733 @RockinRay Thank you both! Hopefully you'll see an auto cli soon as I did! Does anyone know if Discover will hard pull you if you request a cli yourself???

Re: Discover Auto CLI After 3rd Statement!!!

RockinRay — Tue, 14 Jun 2011 15:30:27 GMT

I have read on these forums that they do if you request the CLI...

Ray

Re: Discover Auto CLI After 3rd Statement!!!

smc733 — Tue, 14 Jun 2011 16:00:14 GMT

I heard that if the phone system give it to you, you get it hard free. If you speak to a rep its hard.

Re: Discover Auto CLI After 3rd Statement!!!

RockinRay — Tue, 14 Jun 2011 16:04:47 GMT

Agreed - this is what I have also read.

Ray

Re: Discover Auto CLI After 3rd Statement!!!

daytrade5 — Tue, 14 Jun 2011 16:36:10 GMT

Great information! Thanks!

Re: Discover Auto CLI After 3rd Statement!!!

Anonymous — Tue, 14 Jun 2011 16:41:30 GMT

My ninth statement cut and no auto CLI. I am still at $3500. It's enough for me, so I surely won't take a hard pull for a CLI at this point. I use the card frequently and pay in full each month.

I only use the card for its 5% categories. Its general cashback rewards suck. Amex' Blue Cash Everyday is a much better card alttogether, I think.

Discover's 5% spending limits suck, too. $200 for the month of June for groceries is very little. They want you to forget about the $200 limit so that you keep spending and get taken down to their 0.5% cashback category or that you get just sick of calculating of how much you can still spend till you reach the $200 mark. For that matter, the Chase Freedom is better as its limits on the 5% categories are usually about four times that of Discover.

Having said all of this, it's an ok card. It's great to supplement other more substantial cashback cards. Also, their online shopping rewards are better than most others.

Re: Discover Auto CLI After 3rd Statement!!!

smc733 — Tue, 14 Jun 2011 16:54:24 GMT

@Anonymous wrote:
My ninth statement cut and no auto CLI. I am still at $3500. It's enough for me, so I surely won't take a hard pull for a CLI at this point. I use the card frequently and pay in full each month.
I only use the card for its 5% categories. Its general cashback rewards suck. Amex' Blue Cash Everyday is a much better card alttogether, I think.
Discover's 5% spending limits suck, too. $200 for the month of June for groceries is very little. They want you to forget about the $200 limit so that you keep spending and get taken down to their 0.5% cashback category or that you get just sick of calculating of how much you can still spend till you reach the $200 mark. For that matter, the Chase Freedom is better as its limits on the 5% categories are usually about four times that of Discover.

Having said all of this, it's an ok card. It's great to supplement other more substantial cashback cards. Also, their online shopping rewards are better than most others.

Its actually .25%...

Re: Discover Auto CLI After 3rd Statement!!!

Anonymous — Tue, 14 Jun 2011 17:03:04 GMT

@smc733 wrote:
Its actually .25%...

Yes, you're right! My bad.

The 0.25% apply for the first $3000 spent, and I think that does not include 5% category purchases. Only then does it go up to 1% general cashback (which is pretty much the standard for most cashback cards anyway).

A friend of mine, a pretty smart person by the way but unaware of the whole slew of Discover fine print, thought she'd always earn 5% in a certain sign-up category. She wasn't aware of the low limits. Needless, she was disappointed to learn about the limit. Also, I am not even sure if she signs up for the categories every three months. It's fairly simple but the less computer-savvy among us, especially some older folks, might forget to sign up and then never get any rewards at all. I've seen it happen.

Another pitfall created by Discover to create a possible risk for you not to get your cashback (Chase Freedom does the same).

I mean if Discover really wanted everyone to actually get the 5% rewards, why would they create their nonsensical "sign-up" game in the first place. It's all about creating hoops through which we must jump to get our rewards.

Re: Discover Auto CLI After 3rd Statement!!!

smc733 — Tue, 14 Jun 2011 17:36:58 GMT

@Anonymous wrote:
@smc733 wrote:
Its actually .25%...

Yes, you're right! My bad.

The 0.25% apply for the first $3000 spent, and I think that does not include 5% category purchases. Only then does it go up to 1% general cashback (which is pretty much the standard for most cashback cards anyway).

A friend of mine, a pretty smart person by the way but unaware of the whole slew of Discover fine print, thought she'd always earn 5% in a certain sign-up category. She wasn't aware of the low limits. Needless, she was disappointed to learn about the limit. Also, I am not even sure if she signs up for the categories every three months. It's fairly simple but the less computer-savvy among us, especially some older folks, might forget to sign up and then never get any rewards at all. I've seen it happen.
Another pitfall created by Discover to create a possible risk for you not to get your cashback (Chase Freedom does the same).

I mean if Discover really wanted everyone to actually get the 5% rewards, why would they create their nonsensical "sign-up" game in the first place. It's all about creating hoops through which we must jump to get our rewards.

Discover is still subprime in my book, those are just some of the many reasons why.

Re: Discover Auto CLI After 3rd Statement!!!

Anonymous — Tue, 14 Jun 2011 18:09:23 GMT

Congrats!

Re: Discover Auto CLI After 3rd Statement!!!

UFGuy2006 — Tue, 14 Jun 2011 19:47:37 GMT

@smc733 wrote:
@Anonymous wrote:
My ninth statement cut and no auto CLI. I am still at $3500. It's enough for me, so I surely won't take a hard pull for a CLI at this point. I use the card frequently and pay in full each month.
I only use the card for its 5% categories. Its general cashback rewards suck. Amex' Blue Cash Everyday is a much better card alttogether, I think.
Discover's 5% spending limits suck, too. $200 for the month of June for groceries is very little. They want you to forget about the $200 limit so that you keep spending and get taken down to their 0.5% cashback category or that you get just sick of calculating of how much you can still spend till you reach the $200 mark. For that matter, the Chase Freedom is better as its limits on the 5% categories are usually about four times that of Discover.

Having said all of this, it's an ok card. It's great to supplement other more substantial cashback cards. Also, their online shopping rewards are better than most others.

Its actually .25%...

Even more reason to only use it for the 5% categories :-)

Re: Discover Auto CLI After 3rd Statement!!!

MAstudent07 — Tue, 14 Jun 2011 20:35:58 GMT

Congratulations on your CLI. I requested an increase this afternoon since my six month statement cut yesterday. I did the request through the automated system, and at the end of the call was denied. I called Discover to find out the reason, and it was that my balance is too high on my mortgage. I've had my house longer than their card, and apparently my balance was okay six months ago.

In reality, it's not a biggie for me since I just wanted to experience requesting an increase with Discover. CS rep did say to try again in six months, but I won't. I only ask once for each card and leave it alone.

So far, BOA and Citi approved, DIscover denied, and I will not ask Chase....that's a hard pull.

Re: Discover Auto CLI After 3rd Statement!!!

Anonymous — Tue, 14 Jun 2011 21:12:04 GMT

@daytrade5 wrote:
@smc733 @RockinRay Thank you both! Hopefully you'll see an auto cli soon as I did! Does anyone know if Discover will hard pull you if you request a cli yourself???

It's me ~ Yes, they did HP and tripled my CL. It was worth it!

When you request CLI, what they do is input the information and tell you (sorry, you are disqualify) that they have to do HP if they don't approve your request. I am not sure they actually approve at that stage or not.

Re: Discover Auto CLI After 3rd Statement!!!

Anonymous — Tue, 14 Jun 2011 21:59:16 GMT

I called yesterday to inquire about a 3 month cli. The CSR said they won't budge until at least the 6 mo. mark. I told the guy , " So your telling me if I authorize a hard pull right now you will refuse my request.?"
He said it's only been three months since we checked your credit to open the account. Your score probably hasn't changed. I told him I monitor my TU and EXP ficos monthly and my scores have increased 30-40 pts since my app. And he basically said I can't help you. Told him I will open another account and stop using my card.

Re: Discover Auto CLI After 3rd Statement!!!

Anonymous — Wed, 15 Jun 2011 05:44:35 GMT

That's weird the CSR told they won't budge til at least 6 months, because I also got a auto CLI after my 3rd statement. Maybe call again and hope you talk to someone else.