topic Re: Burn a HP? in Credit Cards

Burn a HP?

ElMayimbe — Mon, 21 Jan 2013 01:11:47 GMT

Couple months ago I PC'd my Discover More to IT and in December I hit my 6th month since opening account. I called into Discover with hopes of a SP CLI but I was turned down and I declined to HP for CLI. To date I have a total of 6 hard inquiries, 1 is aged one year and another 3 will be 1y this May. So, my dilemma is... I want to take advantage of the new IT card bonus structure on 1% along with regular tiered on my business travels. Should I take the HP to bump up CL????

Re: Burn a HP?

pdog661 — Mon, 21 Jan 2013 01:59:12 GMT

Try the luv button on line. Many report it is only a SP if your are intstantly approved. They offer a counter if not the whole amount, and also offer a HP if you wish for a more throrough review.

Re: Burn a HP?

chnceit — Mon, 21 Jan 2013 02:05:00 GMT

@ElMayimbe wrote:
Couple months ago I PC'd my Discover More to IT and in December I hit my 6th month since opening account. I called into Discover with hopes of a SP CLI but I was turned down and I declined to HP for CLI. To date I have a total of 6 hard inquiries, 1 is aged one year and another 3 will be 1y this May. So, my dilemma is... I want to take advantage of the new IT card bonus structure on 1% along with regular tiered on my business travels. Should I take the HP to bump up CL????

The first CLI for Discover is an auto CLI at the 6 month mark. Anything before that will be a HP.

After that if you have the request Credit Line Increase on your home page then your are elegible for an increase. If you are not approved for the amount you put in then the system will counter offer you. Then you have the choice to accept or decline.

Re: Burn a HP?

remarc — Mon, 21 Jan 2013 05:47:04 GMT

That's not quite right. I never got a auto credit increase at six months. I called up and asked & they told me it would be a HP. I politely declined. CSR also told me I hate to wait 18 months before I was eligible for a auto increase.
I'm hoping that at the 1 year mark which is in two months they will increase me with a SP!

Not sure what to do with discover. I love them but its my lowest limit. $1000

Re: Burn a HP?

chnceit — Mon, 21 Jan 2013 05:50:22 GMT

@remarc wrote:
That's not quite right. I never got a auto credit increase at six months. I called up and asked & they told me it would be a HP. I politely declined. CSR also told me I hate to wait 18 months before I was eligible for a auto increase.
I'm hoping that at the 1 year mark which is in two months they will increase me with a SP!

Not sure what to do with discover. I love them but its my lowest limit. $1000

That means you were not eligible for a CLI. In my experience, reading other posts on here and my other half did get a CLI at 6 months. But Discover is a true YMMV lender.

Re: Burn a HP?

ElMayimbe — Mon, 21 Jan 2013 20:38:30 GMT

Guess what I'm asking is would the CL be worthy of HP?. When I called in to speak to a rep he asked how much was I looking for and I replied to match my BOFA Amex at 7500. His response was that they could likely do better than that but required an HP.

Re: Burn a HP?

Anonymous — Mon, 21 Jan 2013 21:01:42 GMT

@remarc wrote:
That's not quite right. I never got a auto credit increase at six months. I called up and asked & they told me it would be a HP. I politely declined. CSR also told me I hate to wait 18 months before I was eligible for a auto increase.
I'm hoping that at the 1 year mark which is in two months they will increase me with a SP!

Not sure what to do with discover. I love them but its my lowest limit. $1000

I also never got a auto cli at 6 months my card was p[emed 4/20/12 amnd no auto CLI yet....

Re: Burn a HP?

CribDuchess — Mon, 21 Jan 2013 21:28:43 GMT

@ElMayimbe wrote:
Guess what I'm asking is would the CL be worthy of HP?. When I called in to speak to a rep he asked how much was I looking for and I replied to match my BOFA Amex at 7500. His response was that they could likely do better than that but required an HP.

I absolutely think it's worthy of a HP if they are going to at least match your BofA Amex CL of $7,500. And this will make the card much more usable for you. It's definitely worth it.

Re: Burn a HP?

ceemee2203 — Mon, 21 Jan 2013 21:47:46 GMT

Do you need the CLI now or can you wait a few more months?

Re: Burn a HP?

ElMayimbe — Mon, 21 Jan 2013 22:30:00 GMT

I could wait but what's swaying me is rewards I would accumulate on my travel. Secondly Im towards my 'Trophy' card, CSP.

Re: Burn a HP?

ElMayimbe — Tue, 22 Jan 2013 00:34:34 GMT

Decided to go for it, spoke with an analyst, confirmed some info and answered some questions. Requested $10k and got $10k!

Re: Burn a HP?

CribDuchess — Tue, 22 Jan 2013 00:40:53 GMT

Woo hoo!! That's awesome - congratulations!! That was definitely worth a HP!!

Re: Burn a HP?

ElMayimbe — Tue, 22 Jan 2013 00:46:33 GMT

Whoot, whoot!

Re: Burn a HP?

ceemee2203 — Tue, 22 Jan 2013 00:49:22 GMT

Grats!

Re: Burn a HP?

slippy84 — Tue, 22 Jan 2013 00:52:27 GMT

@ElMayimbe wrote:
Decided to go for it, spoke with an analyst, confirmed some info and answered some questions. Requested $10k and got $10k!

Wow congrats, that's a nice limit! For the record, what was your original limit? I didn't see it mentioned here

Re: Burn a HP?

ElMayimbe — Tue, 22 Jan 2013 02:15:54 GMT

Original limit was $1k and believe me I tried, tried, and tried to get Discover to SP. Called back door numbers, spoke with 4 different analyst all on different occasions. I was getting frustrated but learned that Discover doesn't budge on this, so either I did and reap the rewards or grit my teeth and bear it---I caved. Still a nice CLI and worth the HP!