topic Discover Luv button in Credit Cards

Discover Luv button

Anonymous — Mon, 08 Apr 2013 21:43:10 GMT

I finally got up the nerve to hit the luv button on my Discover More card. I shot for the moon - I asked for a CLI from $8300 to $20k.

Counteroffer of $500 more. Accepted. No way was I going to hard inquiry for a CLI right now. $500 is better than nothin'!

Re: Discover Luv button

Anonymous — Mon, 08 Apr 2013 21:45:24 GMT

BTW, what do most people say for their "reason" for wanting a higher credit line? I said "major purchase / home improvement".

Also, what kind of time interval do people usually wait before trying again?

Re: Discover Luv button

TNTransplant — Mon, 08 Apr 2013 22:01:14 GMT

@Anonymous wrote:
BTW, what do most people say for their "reason" for wanting a higher credit line? I said "major purchase / home improvement".

Also, what kind of time interval do people usually wait before trying again?

With Discover you are eligible (i.e. you can ask) for a CLI every 6 months. If you accept what the system offers it's a SP, but would be a HP if you want more.

I had my card for 10 months and have never been given a CLI other than them auto-CLI'ing me - started with a $3000 CL and was auto-increased to $4500 over the first 9 months. Last week (Saturday) I figured I would go ahead and go for it and allow the HP with a request for a $5500 increase to $10,000. I got a message that my account would be reviewed.

On Monday I got a call from a very nice rep. He basically asked me what I wanted the CLI for, and I was honest with him. I told him that most of my other cards had just been raised to greater than $10k, and I wanted to keep my Discover card competitive with that. I also mentioned that I still had 0% interest on purchases through September of this year, and I wanted to put the bulk of my upcoming vacation expenses on Discover. He put me on hold for about one minute, came back and said "That's not a problem. Effective immediately your new credit line is $10,000."

So, the HP is not always a bad thing...

Re: Discover Luv button

Lambo23 — Mon, 08 Apr 2013 22:03:19 GMT

I'd say the usual wait is 6 months. Also, from what I read, you can call in and ask them to upgrade your card to the IT. I think it has better rewards? Not 100% but I do know they upgrade you no questions asked.