topic Re: Discover Account Review -.- in Credit Cards

Discover Account Review -.-

youngandcreditwrthy — Tue, 07 Oct 2014 15:15:10 GMT

Oh goodness...
Got an email this morning requesting that I contact them in a week and to be prepared to discuss employment and income.

While Ive been truthful and never defaulted in anyway... I am scared. I remember how stressed and annoyed GECRB's audit made me.
I read that they typically like to discuss usage, etc with you.
So... My cl is $10k. Currently have a balance of $8k due to 0% offer. Ive been paying $300-700 a month for at least twelve months. They reduced my purchase APR to 1.9%, so admittedlly Ive been using it. Every time I call, have a hammer me to use it more. I tell them I like Amex and that their credit line is too low.
The kicker is I think I caused this myself... I called them the other night for a cli (last one was about a year ago) I figured it was time. Then, I got an APR reduction to 18.24%. Obviously, I did something to flag my account.
Also, I opened a West Elm account in July and just bought a brand new M235i (only one inq from BMWFS) my Tu is like 690 with only 5 or so inqs. The new auto loan account is not reporting yet though. I think it will report with about $30,000 as the bal.
I honestly have about $26-30k in cc debt (prob pay 1500-3000 towards any given month)
Util overall is about 20%.
Ill be honest here. I am petty and DO NOT WANT ANY THING REPORTED AS "closed by credit grantor"
That is my number one concern here. I dont care about this card. I've held up my end of the bargain, and I dont feel like being treated like a criminal as GE did me (in the end the only thing that happed was I closed some accounts on my own!!!)
I'm smarter than this. Should I just close this piddly $10k line and be done with? That'd leave me with still $175k or so of avail credit.

What does everyone think? And if nothing else.. I pay it off after closed and open a new one with a new 0% period to use 😇💁😂

Please advise. Unless they are going to cli me to $15k with this account review, daddy is closing her. 👌

Re: Discover Account Review -.-

FinStar — Tue, 07 Oct 2014 15:26:35 GMT

If you have got nothing to hide, then you shouldn't be scared. I don't see the issue. No different than AMEX conducting an account review and requesting a Tax transcript.

As a lender, they have the right to verify this information from time to time as it is clearly spelled out in their T&C. Not sure why you would equate that to being treated like a criminal... did you steal something? Needless to say, you seem to be carrying high balances that keep bouncing off from one lender to another regardless how much you decide to inflate your TLs to look more favorable. Eventually, just like GE/Synchrony, it is just a matter of time before some lenders start questioning your financial activities, and righfully so since it is still a loan (albeit on plastic) and they own the gold. Ultimately, it is your choice whether you decide to close this account.

Re: Discover Account Review -.-

Anonymous — Tue, 07 Oct 2014 15:30:50 GMT

@youngandcreditwrthy wrote:
Oh goodness...
Got an email this morning requesting that I contact them in a week and to be prepared to discuss employment and income.

While Ive been truthful and never defaulted in anyway... I am scared. I remember how stressed and annoyed GECRB's audit made me.
I read that they typically like to discuss usage, etc with you.
So... My cl is $10k. Currently have a balance of $8k due to 0% offer. Ive been paying $300-700 a month for at least twelve months. They reduced my purchase APR to 1.9%, so admittedlly Ive been using it. Every time I call, have a hammer me to use it more. I tell them I like Amex and that their credit line is too low.
The kicker is I think I caused this myself... I called them the other night for a cli (last one was about a year ago) I figured it was time. Then, I got an APR reduction to 18.24%. Obviously, I did something to flag my account.
Also, I opened a West Elm account in July and just bought a brand new M235i (only one inq from BMWFS) my Tu is like 690 with only 5 or so inqs. The new auto loan account is not reporting yet though. I think it will report with about $30,000 as the bal.
I honestly have about $26-30k in cc debt (prob pay 1500-3000 towards any given month)
Util overall is about 20%.
Ill be honest here. I am petty and DO NOT WANT ANY THING REPORTED AS "closed by credit grantor"
That is my number one concern here. I dont care about this card. I've held up my end of the bargain, and I dont feel like being treated like a criminal as GE did me (in the end the only thing that happed was I closed some accounts on my own!!!)
I'm smarter than this. Should I just close this piddly $10k line and be done with? That'd leave me with still $175k or so of avail credit.

What does everyone think? And if nothing else.. I pay it off after closed and open a new one with a new 0% period to use 😇💁😂

Please advise. Unless they are going to cli me to $15k with this account review, daddy is closing her. 👌

Heh, I've got numbers that look way worse than you. (Try 53k in Auto Loans, 16k in Student Loans, 9k Total CC Debt) and no problems here.

CL on our Discover is 11k with 40% UTL right now.Knock on wood, Good luck with the review though.

Re: Discover Account Review -.-

youngandcreditwrthy — Tue, 07 Oct 2014 15:33:12 GMT

Thanks FinStar.
But I find your babbling unuseful.
Im aware of all of the above. You are not my mother and have chosen to not discuss which BANK you are employed with.
As such, stop babbling on about thing I already know.
Do you think if I call they WILL close the account?
As mentioned, I know my balances are relatively high. Although for my income, aaoa, total tradelines, etc... I am well within limits. And again, I try to pay 10% of all balances in any given month. I have no huge debt to income stifling mortgage, and only recently received the privelege of having an auto loan.
Please answer: should I close the account or do you think they will if they call?
Clearly, I am diligent, and my intentions are well.
Also, I mentioned I was truthful on everything and have been. No question of honesty. I think any consumer would feel disheartened or somewhat challenged/threatened when a bank they have done biz with for 2-3 years all of a suddent wants to do any account review. You know I havent defaulted, you know I like to make fairly large payments relative to the amount due/balance.

Re: Discover Account Review -.-

youngandcreditwrthy — Tue, 07 Oct 2014 15:37:15 GMT

Providing the information itself isnt the prob. The problem is that my record has been set. There is no reason why I would default or otherwise. The problem is the HASSLE. Three months is how long GEs audit took. My credit got better during that time. Util was even lower then-9-10%...
Hate to say this, but I think it's usually a matter of who I pissed off. Make someone mad when I called in? You know that kind of thing? That's what I witnessed with GE. With one poster here, they spoke with her and took the fraud alerts off immediately. With me they refused to even discuss it with me over the phone, and drag it out as much possible. As far as I can see it, that's really a violation of federal law. Not treating people equally. But that is not what this is about.

Re: Discover Account Review -.-

FinStar — Tue, 07 Oct 2014 15:44:39 GMT

It's simple - two choices: (1) provide the information and let the review process take it's course or (2) close the account. No matter how you try to rationalize it, dramatize it or be in denial there's only going to be one outcome on this.

Re: Discover Account Review -.-

yfan — Tue, 07 Oct 2014 15:45:18 GMT

@youngandcreditwrthy wrote:
Thanks FinStar.
But I find your babbling unuseful.
Im aware of all of the above. You are not my mother and have chosen to not discuss which BANK you are employed with.
As such, stop babbling on about thing I already know.

Something about this strikes me as not being friendly, supportive and respectful.

Re: Discover Account Review -.-

sccredit — Tue, 07 Oct 2014 15:45:49 GMT

@youngandcreditwrthy wrote:
Providing the information itself isnt the prob. The problem is that my record has been set. There is no reason why I would default or otherwise. The problem is the HASSLE. Three months is how long GEs audit took. My credit got better during that time. Util was even lower then-9-10%...
Hate to say this, but I think it's usually a matter of who I pissed off. Make someone mad when I called in? You know that kind of thing? That's what I witnessed with GE. With one poster here, they spoke with her and took the fraud alerts off immediately. With me they refused to even discuss it with me over the phone, and drag it out as much possible. As far as I can see it, that's really a violation of federal law. Not treating people equally. But that is not what this is about.

I had the same with Discover about a year ago. I called in, the call took about 20 minutes with an analyst. They were concerned with the number of cards I had opened. I went rhough the reasoning behind each, the inquiries related to a new car and the analyst was great. I was extremely respectful to her, she was the same to me. All in all it was a pleasent conversation. In the end she left my credit line exaclty where it was at and advised to slow down on the number of cards I was opening (fair enough). I have found Discover's CS to be, by far, my favorite.

By the way, a few months later I asked for a CLI from them and my CL went from $10k to $12.5k

Re: Discover Account Review -.-

lg8302ch — Tue, 07 Oct 2014 15:48:09 GMT

@yfan wrote:
@youngandcreditwrthy wrote:
Thanks FinStar.
But I find your babbling unuseful.
Im aware of all of the above. You are not my mother and have chosen to not discuss which BANK you are employed with.
As such, stop babbling on about thing I already know.
Something about this strikes me as not being friendly, supportive and respectful.

Re: Discover Account Review -.-

FinStar — Tue, 07 Oct 2014 15:48:57 GMT

@sccredit wrote:
@youngandcreditwrthy wrote:
Providing the information itself isnt the prob. The problem is that my record has been set. There is no reason why I would default or otherwise. The problem is the HASSLE. Three months is how long GEs audit took. My credit got better during that time. Util was even lower then-9-10%...
Hate to say this, but I think it's usually a matter of who I pissed off. Make someone mad when I called in? You know that kind of thing? That's what I witnessed with GE. With one poster here, they spoke with her and took the fraud alerts off immediately. With me they refused to even discuss it with me over the phone, and drag it out as much possible. As far as I can see it, that's really a violation of federal law. Not treating people equally. But that is not what this is about.
I had the same with Discover about a year ago. I called in, the call took about 20 minutes with an analyst. They were concerned with the number of cards I had opened. I went rhough the reasoning behind each, the inquiries related to a new car and the analyst was great. I was extremely respectful to her, she was the same to me. All in all it was a pleasent conversation. In the end she left my credit line exaclty where it was at and advised to slow down on the number of cards I was opening (fair enough). I have found Discover's CS to be, by far, my favorite.

By the way, a few months later I asked for a CLI from them and my CL went from $10k to $12.5k

See, a perfect example. Of course, YEMV. Only way to know the outcome is when you have that dialogue with them, if you decide to go through it.

Re: Discover Account Review -.-

Creditaddict — Tue, 07 Oct 2014 15:49:58 GMT

last account review I read from discover the person called in and just answered basic information on intentions of paying on the balance or why using balance or something and they said it's 0% that you all offered me to carry this balance and when that offer runs out I will pay my balance!

and discover thanked them for being a great customer and call ended.

I have not seen discover actually request you to send them anything unless you are asking to go above a certain cl.

Re: Discover Account Review -.-

rlx01 — Tue, 07 Oct 2014 15:52:59 GMT

OP: you're making a huge deal about nothing.

It's one phone call ... Maybe.

Not like they can take away your existing balance or terms.

No one cares about 'closed by grantor'.

Re: Discover Account Review -.-

youngandcreditwrthy — Tue, 07 Oct 2014 15:55:39 GMT

Okay... Well it's just that realllllly bad experience I had with GE that through me. I will just call them. Lol thanks everyone.

Re: Discover Account Review -.-

Creditaddict — Tue, 07 Oct 2014 15:56:04 GMT

@rlx01 wrote:
OP: you're making a huge deal about nothing.

It's one phone call ... Maybe.

Not like they can take away your existing balance or terms.

No one cares about 'closed by grantor'.

Re: Discover Account Review -.-

Anonymous — Tue, 07 Oct 2014 16:03:41 GMT

@FinStar wrote:
It's simple - two choices: (1) provide the information and let the review process take it's course or (2) close the account. No matter how you try to rationalize it, dramatize it or be in denial there's only going to be one outcome on this.

I agree with you Finstar, and didn't find you to be babbling.

Re: Discover Account Review -.-

dallasjetfan — Tue, 07 Oct 2014 19:28:45 GMT

@youngandcreditwrthy wrote:
Providing the information itself isnt the prob. The problem is that my record has been set. There is no reason why I would default or otherwise. The problem is the HASSLE. Three months is how long GEs audit took. My credit got better during that time. Util was even lower then-9-10%...
Hate to say this, but I think it's usually a matter of who I pissed off. Make someone mad when I called in? You know that kind of thing? That's what I witnessed with GE. With one poster here, they spoke with her and took the fraud alerts off immediately. With me they refused to even discuss it with me over the phone, and drag it out as much possible. As far as I can see it, that's really a violation of federal law. Not treating people equally. But that is not what this is about.

You have more credit than you already need. I know I wouldn't go through a FR with any compnay. I would just close the account and move on. I don't use CC's or borrow money anymore so its none of their business what my tax returns, etc. show. They may be within their rights to ask for such info, but I would just close the account and move on.

Re: Discover Account Review -.-

Anonymous — Tue, 07 Oct 2014 19:31:35 GMT

i'm NOT too happy with Discover, So if they did that to me, i would Close it real quick....

Re: Discover Account Review -.-

youngandcreditwrthy — Tue, 07 Oct 2014 19:58:31 GMT

Aside from FinStar trolling as usual with no true merit, thanks dallasjets and super_al for your honesty. Im blowing up the card today (making sure I get my cashback for some good car stuff) and closing her. $10k is way too low anyway. Would not affect util at all, and truth be told I do have too much credit, especially with the purchase of a brand new $57k car. Doneski.

Re: Discover Account Review -.-

joltdude — Tue, 07 Oct 2014 20:42:37 GMT

Hey its your right to close an account.. but its their right to say.. hold on there and question your income and or ability to pay it...

Lately iv seen a few folks on here who think they are entitled to play by their own rules because of their supposed income... Anyone can be called out to prove themselves.... Ability to pay is a part of the CARD act... Its still banks granting you a perpetual unsecured loan every time you use plastic.... Finstar was just calling out the rules as he sees it.. If your not ready to be held accountable for your actions, perhaps the bank doesn't want to extend credit to you.. Frankly if I was underwriting you. id be glad to be rid of potential liability and default by having your account closed... its not worth the hassle...

Re: Discover Account Review -.-

rlx01 — Tue, 07 Oct 2014 20:47:51 GMT

@young: why are you taking this personally? You're looking at a 5 minute call with no real point. They're just checking in.

Why close it?