topic Re: Recon CL with Discover?? in Credit Cards

Recon CL with Discover??

youngandcreditwrthy — Fri, 12 Oct 2012 17:03:59 GMT

Has anyone had luck reconning a limit with Discover?? I have a $4,000@0% bal on my Travelocity Amex still, and while I am in a position to pay it off, I'd rather leave my cash in the bank/invested getting a little interest/div income and just xfer this balance so I can build cred with Discover.
My initial limit is $4k, and to do the BT @0% for 15 mos., I'd prob need a $9-10k limit to avoid any mess up on util.

Has anyone here had luck with reconning a higher limit with Discover?? I literally just opened the account, and I'm also willing to cld another account by a few thousand if needed (I don't need $7k at BR, LOL).
Any advice/info would be helpful. Btw, I've paid about $700 on the Trav Amex this month alone, so again...not a cashflow prob.

:-)

Re: Recon CL with Discover??

flowfaster — Fri, 12 Oct 2012 17:07:20 GMT

From my experiance Discover makes you wait 6 months no matter what. You can try but I have never heard of anyone getting one before 6 months.

Re: Recon CL with Discover??

Anonymous — Fri, 12 Oct 2012 17:11:03 GMT

Re: Recon CL with Discover??

youngandcreditwrthy — Fri, 12 Oct 2012 17:13:17 GMT

I also know about the extra $40 pmt disc adds for bal xfers. Not a prob.

Re: Recon CL with Discover??

youngandcreditwrthy — Fri, 12 Oct 2012 17:16:00 GMT

Dang.... If that's the case then I may just pay it off lol.. It just kinda sucks cause once I pay that, I won't really have any cc debt to continue building my credit history. Hmmmm

Have yall heard of Barclay's extending 0% offers? Like for an extra couple of months? Lol

Re: Recon CL with Discover??

SwiftTone — Fri, 12 Oct 2012 17:26:23 GMT

I've tried multiple times to get an inscrease on my initial CL, and multiples to get a CLI before 6 months, and they didn't give it to me. I tried to get a CLI after 6 months, and they want to HP my report. So I gave up.

I have heard that they extend 0% intro though

Re: Recon CL with Discover??

youngandcreditwrthy — Fri, 12 Oct 2012 17:34:08 GMT

OoooOooo.... Yeah, I don't want any hard pulls at all....not for any reason.

Re: Recon CL with Discover??

youngandcreditwrthy — Fri, 12 Oct 2012 17:35:19 GMT

Swift-did you hear that Barclay's extends 0% offers or Discover? I saw on here that Discover had, but never seen that Barclay's had...

Re: Recon CL with Discover??

SwiftTone — Fri, 12 Oct 2012 18:02:14 GMT

I was referring to Discover.

How it happened what they called for a CLI, then they "counter offered" with 0% extension

Re: Recon CL with Discover??

kevinjjc — Sun, 14 Oct 2012 20:00:34 GMT

Yes, I successfully recon'd my initial credit limit, went from 5k to 10k. Huge YMMV!!!

See my thread: http://ficoforums.myfico.com/t5/Credit-Cards/Discover-More-approved-amp-initial-CL-recon-success-5k-gt-10k/m-p/1450382

Re: Recon CL with Discover??

SnackTrader — Sun, 14 Oct 2012 20:28:08 GMT

@youngandcreditwrthy wrote:
Dang.... If that's the case then I may just pay it off lol.. It just kinda sucks cause once I pay that, I won't really have any cc debt to continue building my credit history. Hmmmm

Have yall heard of Barclay's extending 0% offers? Like for an extra couple of months? Lol

I'm confused about what you mean here...

There's no reason your credit history stops if you don't have debt. I and many, many other people have never carried a credit card balance in their entire life and continue to build credit history with on time monthly payments. I just hope you aren't getting the wrong idea from this forum on the credit game. Sure, you want your reports to look good, but they will look best with long term responsible credit use.

You would be making the right personal financial decision to pay off the debt before it gains interest, if you are able. Why pay a $40 transfer fee? Save the $40, buy yourself and your significant other a nice dinner.

Re: Recon CL with Discover??

negg — Sun, 14 Oct 2012 22:22:54 GMT

Barclayscard is offering bal transfers till nov 1st. 0% interest if paid off bye 12-1-13. 3%transferfees

Re: Recon CL with Discover??

Jazzzy — Sun, 14 Oct 2012 22:32:05 GMT

@SnackTrader wrote:
@youngandcreditwrthy wrote:
Dang.... If that's the case then I may just pay it off lol.. It just kinda sucks cause once I pay that, I won't really have any cc debt to continue building my credit history. Hmmmm

Have yall heard of Barclay's extending 0% offers? Like for an extra couple of months? Lol
I'm confused about what you mean here...

There's no reason your credit history stops if you don't have debt. I and many, many other people have never carried a credit card balance in their entire life and continue to build credit history with on time monthly payments. I just hope you aren't getting the wrong idea from this forum on the credit game. Sure, you want your reports to look good, but they will look best with long term responsible credit use.

You would be making the right personal financial decision to pay off the debt before it gains interest, if you are able. Why pay a $40 transfer fee? Save the $40, buy yourself and your significant other a nice dinner.

I agree....transfer fees are expensive, and I often see people focus only on the 0%. These offers are far from 0% once you've paid the transfer fee.

You don't have to owe money to build your credit. Just use the credit wisely. And the wise thing to do here is to pay off the balance instead of paying another transfer fee. And your money isn't earning enough in the bank to justify the cost of the transfer fee.

Re: Recon CL with Discover??

maiden_girl — Mon, 15 Oct 2012 00:38:30 GMT

The only fee-less BT card I know of is the Chase Slate. There's no balance transfer fee and they offer 15 month 0% APR. Most banks do charge the typical 3% fee based on balance transfered

Re: Recon CL with Discover??

youngandcreditwrthy — Mon, 15 Oct 2012 21:15:00 GMT

There shouldnt be any confusion...

I'm not getting the wrong idea.

I know.... I would just hate to be denied anything in the future for not using enough of my avail cred lol.... but I suppose you are right :-)

Thanks!

Re: Recon CL with Discover??

youngandcreditwrthy — Mon, 15 Oct 2012 21:17:39 GMT

I know all about the bt fees, and I'm in the garden .. so no Slate for me...

weird though... Barclay's has a new offer for me.. 3.99% til 07/2013.. and a 4% fee. HAHAHA I'm just gonna pay them off.... no sense in dealing with that. I just hate not having as much cash in the bank.. but I suppose sacrificing liquidity for being debt free is the usual tradeoff haha... because if I don't have debt, then I don't need to be as liquid since my expenses are much lower hahaha.