topic Discover and a erroneously low limit? in Credit Cards

Discover and a erroneously low limit?

Anonymous — Sun, 16 Feb 2014 05:36:29 GMT

Hey so I was looking at my discover IT card account online. I recently applied and was approved for a discover IT student card in December 2013. I was given a limit of $1000 which is 5% of my income of about 20,000$ I was somewhat annoyed and shocked at the low limit but I assumed it was just because I was on an app spree so I had a several inquiries and they were cautious or something. However, I looked online on my "profile" and saw that my income was set at ZERO. I applied over the phone back in december and now I'm curious if the person I was speaking to accidentally put in 0 for my income or something and that is the reason I was only given a $1000 limit? Any ideas where to go from here?

Re: Discover and a erroneously low limit?

CreditExpressNJ — Sun, 16 Feb 2014 05:39:42 GMT

I'd say if you feel your profile CR is fit for a higher limit and that it could be there mistake why not call them and address it and if that gets no were and your confident that your profile fits for a higher limit then go for the CLI via HP of course...

Re: Discover and a erroneously low limit?

Creditaddict — Sun, 16 Feb 2014 05:54:25 GMT

clearly the income wasn't $0 when you applied, the online account often shows $0, same for amex too.

dont't sweat it with discover... they are constantly known for tiny CL's

Re: Discover and a erroneously low limit?

Revelate — Sun, 16 Feb 2014 05:57:09 GMT

@Anonymous wrote:
Hey so I was looking at my discover IT card account online. I recently applied and was approved for a discover IT student card in December 2013. I was given a limit of $1000 which is 5% of my income of about 20,000$ I was somewhat annoyed and shocked at the low limit but I assumed it was just because I was on an app spree so I had a several inquiries and they were cautious or something. However, I looked online on my "profile" and saw that my income was set at ZERO. I applied over the phone back in december and now I'm curious if the person I was speaking to accidentally put in 0 for my income or something and that is the reason I was only given a $1000 limit? Any ideas where to go from here?

I haven't been given higher than a 1K unsecured starting limit by anyone and that's less than 1% of my income. Also I'm not certain even what the maximum is on the student card, it's almost certainly lower than the mainline one from a product perspective.

Limits are built with payment history, supported by income: one without the other doesn't make the grade when we're talking about supercalifragilisticexpialidocious limits.

Not a big deal as others have stated, CLI's will come with time and good use.

Re: Discover and a erroneously low limit?

mikey78 — Sun, 16 Feb 2014 07:43:19 GMT

@Creditaddict wrote:
clearly the income wasn't $0 when you applied, the online account often shows $0, same for amex too.

dont't sweat it with discover... they are constantly known for tiny CL's

really? I didn't know that .. because when i apped for the IT Card my starting CL was 9500 I thought it was because it was only Discover and not MC or Visa

Re: Discover and a erroneously low limit?

Anonymous — Sun, 16 Feb 2014 08:06:40 GMT

@Anonymous wrote:
Hey so I was looking at my discover IT card account online. I recently applied and was approved for a discover IT student card in December 2013. I was given a limit of $1000 which is 5% of my income of about 20,000$ I was somewhat annoyed and shocked at the low limit but I assumed it was just because I was on an app spree so I had a several inquiries and they were cautious or something. However, I looked online on my "profile" and saw that my income was set at ZERO. I applied over the phone back in december and now I'm curious if the person I was speaking to accidentally put in 0 for my income or something and that is the reason I was only given a $1000 limit? Any ideas where to go from here?

most likely it's due to the fact that you applied for a student card, and that you also went on an app spree and collected a bunch of inquriies along the way.

most lenders are known to be less generous for student cards and also for current students. Students have lower income and their employment is often on a non-pmernanent parttime basis.

Re: Discover and a erroneously low limit?

lg8302ch — Sun, 16 Feb 2014 10:09:28 GMT

That seems pretty much in line if I compare what I have been getting with 60K income ..for the past 15 months I had a CL of 2,5K and tried every 3 months to get a CLI and finally got it about 10 days ago. All other cards had me started at 5K-17K...Discover is very stingy with some customers ..but with others they can jump in highest....somehow I had the feeling if they cannot beat the highest they jump in very low.....just be patient and wait it out...one day you will get it up eventually.

Re: Discover and a erroneously low limit?

DavidZeng — Sun, 16 Feb 2014 12:31:01 GMT

I HATE DISCOVER! I HATE DISCOVER!

Re: Discover and a erroneously low limit?

lg8302ch — Sun, 16 Feb 2014 12:44:22 GMT

@DavidZeng wrote:
I HATE DISCOVER! I HATE DISCOVER!

Why?

Re: Discover and a erroneously low limit?

Anonymous — Sun, 16 Feb 2014 21:58:26 GMT

@DavidZeng wrote:
I HATE DISCOVER! I HATE DISCOVER!

I love Discover ... They gave me my first card with a measly $750 limit which is the best starting limit other then my Amex BCE at 1k. My Discover is also at 1K now with a Soft pull for a CLI and my Amazon store card is a $700 up from $400 and my Amazon visa is only $500 which i apped for today.

Re: Discover and a erroneously low limit?

Kenny — Sun, 16 Feb 2014 22:00:41 GMT

Some people only hate companies because they don't give them exorbitantly large credit lines.

Discover has awesome customer service and has never failed me.

Re: Discover and a erroneously low limit?

CreditMagic7 — Mon, 17 Feb 2014 01:46:04 GMT

I don't "love" them, but i don't hate them either. It takes time to build up enough acceptable history for lenders UW's to finally mete out a little boost to a SL.
If all the factors are solidly enough in place on my CRA's, and I've followed their expectations as suggested, but met with a negative result, i simply begin exploring alternatives THAT WILL GROW with my useages.

Re: Discover and a erroneously low limit?

indiolatino61 — Mon, 17 Feb 2014 04:37:29 GMT

@shaun2009 wrote:
I'd say if you feel your profile CR is fit for a higher limit and that it could be there mistake why not call them and address it and if that gets no were and your confident that your profile fits for a higher limit then go for the CLI via HP of course...

+1...but I will never take a HP for a CLI from Discover.