topic New here. Discover CLI, possibly? Also recommend a card to me :) in Credit Cards

New here. Discover CLI, possibly? Also recommend a card to me :)

Anonymous — Wed, 09 Jul 2014 07:36:30 GMT

Hello everyone!

So i'm new to myfico. My boyfriend said it's very important for me to have good credit and he recommended i checked my FICO score and also recommended i join the community. Now i'm here

Anyways right now i have a Discover It card and it is my very first credit card and i was approved for it in January of this year and this is also my first line of credit on my CR. As i casually use my card and make on time payments i received a CLI from $500 to $650 without me asking and that was about four months ago. Now i asked for a CLI to $1,000 but it's currently under review and i will be calling the credit analyst department tomorrow morning. I really hope i get approved since they did a HP. Do you guys think they will increase me?

Here is a little pic i took of my CR: http://d.pr/i/X2e0

Also what credit card do you guys think i would be most likely to get approved for since i have my Discover It card?

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

CreditPacMan — Wed, 09 Jul 2014 07:43:15 GMT

I think you have a good chance - if you get denied you can call the backdoor number and talk to a credit analyst -- but I hope you'll get approved automatically.

What kind of cards are you looking for? Cash back .. travel miles .. no AF ... or just a card with a good limit?

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

Anonymous — Wed, 09 Jul 2014 07:49:05 GMT

Thank you.

I'd like a card with cashback or high CL.

Also do you think i could get a Chase Freedom card and get approved?

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

CreditPacMan — Wed, 09 Jul 2014 08:56:23 GMT

With your scores I don't see any reason Chase would deny you the Freedom Card. The only conern they may have is your short history but you can always call and appeal a denial if that's the case.

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

Anonymous — Wed, 09 Jul 2014 09:10:47 GMT

Alright and how would i appeal? Do i have to tell them something specific so they give more leniance to approving the Freedom card?

How do i do recon as well? I know there is a post with all the bank numbers to the credit analysts but what if i get approved for the Freedom card but a low CL. I'm looking for a card that can give me more bang for my buck, in this case a high CL but with cashback too would be nice.

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

randeman — Wed, 09 Jul 2014 12:54:39 GMT

First thing I would do is research which card is best for me based on what I want from it. Then apply. If they deny your application, call the back door number. Explain you were rejected and ask them to look at your report and find out what they would need to say yes. A lot of times a person may approve what the computer won't. The whole "human touch" thing.

As has been stated previously, the only thing you appear to have going against you is a "thin" file--not much credit experience. Just remember credit is a huge "YMMV" moment. Your mileage may vary. In other words, you and someone else may have similar credit experience and apply for the same card. You may get it, they may not. Your limit may be substatially higher, theirs may not. It's all a game.

Chase approved me for two signature cards in the same day on recon, so it does work.

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

BungalowMo — Wed, 09 Jul 2014 13:19:27 GMT

@Anonymous wrote:
Thank you.

I'd like a card with cashback or high CL.

Also do you think i could get a Chase Freedom card and get approved?

With your short credit history, don't be upset if you don't start with high limits.

Personally, with your Discover card, I may have waited for the Auto CLI's to continue to kick in. They raised mine 2k in one year(4 limit raises over that time!). After this round of CLI with them is over, I'd sit back & let their process work for you. Don't seem too anxious. After all, the card is under 1 yo. I let them auto raise me & I have a history that's over 20 years long. Patience is a good thing here.

You could very likely get the Chase card too...I'd go ahead & go for it, but if you don't get the limit you want, try the backdoor# & whatever their decision...go with it. Let all those inquiries gain some time & don't go for anything else until maybe the Springtime. Too many inquiries in too short of a time makes you look desperate & CCC's don't like that. It scares them away usually causing denials.

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

Anonymous — Wed, 09 Jul 2014 13:52:47 GMT

Discover is always a pain to me credit increase request wise. But I've never allowed a hard pull for a credit increase, so maybe you will get the increase! Every experience is different, but when I first applied to Chase with a thin file (one card for 7 months) I was declined. I called and the analyst advised that I wait until at least one full year with at least one account in order to maximize my next application. He offered to hard pull my credit report again (but on all three bureaus this time) if I wanted him to reconsider, obviously I declined that offer. After I had accounts opened for about 1.5 years, I revisted Chase and they approved me with a high limit, just as the analyst had stated. Although I have seen other success stories of people getting approved for lower limits with Chase after calling in with thin files. In my experience, American Express gave me my first higher limit for their Delta Gold card (it's a travel card, and has an annual fee after a year which could be why) on the same day I applied for a Citi Dividend card (cash back and no annual fee) and got a marginally higher limit than Amex offered early that day. I would recommend both of them, they both exponientally grew with me and Amex has it's backdating perk. Although, like others have stated, your experience could be completely different.

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

sponge_gto — Wed, 09 Jul 2014 14:29:32 GMT

Just echoing the above in that Chase recon once told me they "would like to see" at least 12 months of credit history. They've got some good cards that I will get my hands on eventually but I won't be burning myself before my history's old enough.

Re: New here. Discover CLI, possibly? Also recommend a card to me :)

PrimeRate — Wed, 09 Jul 2014 14:49:52 GMT

You have excellent scores! If you drive(gas), eat food at home(groceries) and spend the occassional buck @ amazon. I would highly recommend the Sallie Mae card. 5% on Gas & Groceries up to $250 each & 5% back @ amazon & other bookstores up to $750.

Growing your Discover card is a solid starting point for a small spree.

A lot of users don't have the great starting point you do. I think you should use this time to get a permanent low apr CC, the Sallie Mae card and maybe think about getting your foot in the door with AMEX. Don't worry about store cards or buidling cards. You have 6+ months w/ discover and beautiful scores, this should be enough to qualify with some of the best CC's out.