topic Re: Discover CLI!!! in Credit Cards

Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 03:19:09 GMT

I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions

about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol

Re: Discover CLI!!!

Skinnyminnie — Sat, 03 Mar 2012 03:16:51 GMT

That's a nifty increase, congrats!

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 04:05:07 GMT

That's great! I've been stuck at $500 for years with Discover. However, I'm not going to waste a hard inquiry on a CLI when I'm gunning for AmEx BCP in about 7 months.

Eyes on the prize, comrades.

Re: Discover CLI!!!

LS2982 — Sat, 03 Mar 2012 11:14:19 GMT

@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol

Congrats!!!

What does education levels have to do with a CLI..........thats a first

Re: Discover CLI!!!

clocktick — Sat, 03 Mar 2012 12:07:25 GMT

Congrats!!

What questions did they ask?

Re: Discover CLI!!!

littlesister — Sat, 03 Mar 2012 13:16:13 GMT

I got a 500 increase with a soft pull. Not much ,but I will take anything not involving a hard pull.

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 13:19:45 GMT

Pretty sweet congrats.

My Discover More has a crappy CL of $750, but I can't request a CLI since I only got it in Nov. The CL is so low and the rewards aren't what I expected as much so barring a CLI it won't be coming out of the wallet much. I love their CS though.

Re: Discover CLI!!!

score_building — Sat, 03 Mar 2012 14:29:16 GMT

@LS2982 wrote:
@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol
Congrats!!!

What does education levels have to do with a CLI..........thats a first

OP-2.5k is a very nice increase from the credit sticklers at Discover, good going!

Most lenders account for the correlation which often exists between level of education and overall capacity to earn more/ repay loans.

Reortedly the level of education of a card holder can correlate strongly with their capacity to repay and is considered by many lenders.

For e.g., over a lifetime, all other things being the same, an individual with a college degree versus a HS Diploma will earn approximately 1 million dollars more. This is generally considered to be valuable information which a creditor may want to consider in connection with a loan app.

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 14:27:15 GMT

@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol

what did they pull?

Re: Discover CLI!!!

LS2982 — Sat, 03 Mar 2012 14:37:50 GMT

@littlesister wrote:
I got a 500 increase with a soft pull. Not much ,but I will take anything not involving a hard pull.

Congrats!! Every little bit counts!

Re: Discover CLI!!!

LS2982 — Sat, 03 Mar 2012 14:39:31 GMT

@score_building wrote:
@LS2982 wrote:
@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol
Congrats!!!

What does education levels have to do with a CLI..........thats a first
OP-2.5k is a very nice increase from the credit sticklers at Discover, good going!

Most lenders account for the correlation which often exists between level of education and overall capacity to earn more/ repay loans.

Reortedly the level of education of a card holder can correlate strongly with their capacity to repay and is considered by many lenders.

For e.g., over a lifetime, all other things being the same, an individual with a college degree versus a HS Diploma will earn approximately 1 million dollars more. This is generally considered to be valuable information which a creditor may want to consider in connection with a loan app.

It makes sense but i feel that is petty considering the HS diploma cardholder is being stereotyped. You can be as good or better with your money than someone with a college education.

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 14:45:11 GMT

Congratulations OP, that's a nice CLI!!

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 14:48:55 GMT

@LS2982 wrote:
@score_building wrote:
@LS2982 wrote:
@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol
Congrats!!!

What does education levels have to do with a CLI..........thats a first
OP-2.5k is a very nice increase from the credit sticklers at Discover, good going!

Most lenders account for the correlation which often exists between level of education and overall capacity to earn more/ repay loans.

Reortedly the level of education of a card holder can correlate strongly with their capacity to repay and is considered by many lenders.

For e.g., over a lifetime, all other things being the same, an individual with a college degree versus a HS Diploma will earn approximately 1 million dollars more. This is generally considered to be valuable information which a creditor may want to consider in connection with a loan app.

It makes sense but i feel that is petty considering the HS diploma cardholder is being stereotyped. You can be as good or better with your money than someone with a college education.

I agree LS, I do not have a college education and I think my credit is pretty decent

Discover is next on my chopping block BTW!

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 15:09:15 GMT

They pulled Transunion.

Re: Discover CLI!!!

Anonymous — Sat, 03 Mar 2012 15:45:19 GMT

@LS2982 wrote:
@score_building wrote:
@LS2982 wrote:
@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol
Congrats!!!

What does education levels have to do with a CLI..........thats a first
OP-2.5k is a very nice increase from the credit sticklers at Discover, good going!

Most lenders account for the correlation which often exists between level of education and overall capacity to earn more/ repay loans.

Reortedly the level of education of a card holder can correlate strongly with their capacity to repay and is considered by many lenders.

For e.g., over a lifetime, all other things being the same, an individual with a college degree versus a HS Diploma will earn approximately 1 million dollars more. This is generally considered to be valuable information which a creditor may want to consider in connection with a loan app.

It makes sense but i feel that is petty considering the HS diploma cardholder is being stereotyped. You can be as good or better with your money than someone with a college education.

On an individual level you could be better or worse than the average for the group that you are being siloed into, but lenders can't look at you on a individual level only. There is a reason they use Credit Scores and other systems to grade customers... They need to formulate risk models that give them a pretty accurate reflection of the risk associated with the loan. As a result, we're ALL being stereotyped!

You could give an insane CL to a guy with a 500 FICO score and a ton of derogs on his report and he may NEVER pay late or default in any way. You could do the same to a person with a 800 FICO and he defaults 6 months later. There is no guarantee that anyone fits the slot perfectly, but the model allows them to lend with some level of predictability. Lenders don't see FICOs as much as they see "risk groups" and "% of persons who default based on risk group".

Re: Discover CLI!!!

LS2982 — Sat, 03 Mar 2012 16:19:45 GMT

@Anonymous wrote:
@LS2982 wrote:
@score_building wrote:
@LS2982 wrote:
@Anonymous wrote:
I called yesterday to have my discover more credit limit increased from 1.5k to 4k. And I have to say I was grilled and asked a ton of questions
about income and education levels, and my living situation. But in the end they granted me an increase with a hard credit pull of course.lol
Congrats!!!

What does education levels have to do with a CLI..........thats a first
OP-2.5k is a very nice increase from the credit sticklers at Discover, good going!

Most lenders account for the correlation which often exists between level of education and overall capacity to earn more/ repay loans.

Reortedly the level of education of a card holder can correlate strongly with their capacity to repay and is considered by many lenders.

For e.g., over a lifetime, all other things being the same, an individual with a college degree versus a HS Diploma will earn approximately 1 million dollars more. This is generally considered to be valuable information which a creditor may want to consider in connection with a loan app.

It makes sense but i feel that is petty considering the HS diploma cardholder is being stereotyped. You can be as good or better with your money than someone with a college education.
On an individual level you could be better or worse than the average for the group that you are being siloed into, but lenders can't look at you on a individual level only. There is a reason they use Credit Scores and other systems to grade customers... They need to formulate risk models that give them a pretty accurate reflection of the risk associated with the loan. As a result, we're ALL being stereotyped!

You could give an insane CL to a guy with a 500 FICO score and a ton of derogs on his report and he may NEVER pay late or default in any way. You could do the same to a person with a 800 FICO and he defaults 6 months later. There is no guarantee that anyone fits the slot perfectly, but the model allows them to lend with some level of predictability. Lenders don't see FICOs as much as they see "risk groups" and "% of persons who default based on risk group".

I understand what your saying, but I feel like that is the wrong way to go with it. It should be done on an individual's creditworthiness.

Re: Discover CLI!!!

frogfan12 — Sat, 03 Mar 2012 17:52:16 GMT

@Anonymous wrote:
That's great! I've been stuck at $500 for years with Discover. However, I'm not going to waste a hard inquiry on a CLI when I'm gunning for AmEx BCP in about 7 months.

Eyes on the prize, comrades.

BCP or bust!

Re: Discover CLI!!!

Brian_Trying_700 — Sat, 03 Mar 2012 22:13:16 GMT

So funny that they ask for education. My girl friend of 7 years is a Harvard grad and was unemployed for 2 years. I went to a community college for 2 years and took up something not even related to what I do today. So basically I have a high school diploma. Now I own a HVAC company for the last 6 years. lol