Discover CLI -- Advice

[Anonymous]

Hey all,

I've had my Discover IT card for 6 months now and read how I should probably wait after 3 months to request a CLI. I know it's a soft pull and went ahead and clicked the luv button, but it only gave me a 700$ boost (my CL is 2,300 and utilize it each month pretty heavily, then pay it off before the statement cuts). My scores are in the 690's and my total CC debt is under 5%. I declined the CLI and wanted to know if there were any other ways to maximize a CLI with Discover. Should I wait and try again in another month to see if they give me a larger increase or just take what they give me?

Thanks for all the help!

[Anonymous]

At this point I'd go with the beggers can be choosers standpoint and take what you can get.  Over time (say) 2+ years from now if you want to evaluate your CLI pattern over that period of time and start declining smaller CLIs in hopes of stimulating a larger one, that's fine.  A $700 CLI on your account constitutes a > 30% increase to your CL, so while in dollars it may not seem great in terms of percentage it's actually pretty good.  It's no "worse" than someone with a $10,000 limit getting a $3000 CLI, for example.  There's a monster thread that you should check out, the Unofficial Discover Data Points if you've got some time to read where you'll hear just about every take on Discover CLIs possible, including success stories and lack of success stories with different techniques/tactics.

[JR_TX]

The best Disco CLI advice anyone here can give you is to just keep on “Hulk-smashing” that button ala @AverageJoesCredit and accepting then DD’ing on whatever they give you. Everyone here has a 6’ tall stack of 3-5 day denial letters so don’t feel defeated if you’re denied or not given whatever the amount it is you’re hoping for. 

But for less agony though only do it every first monday afternoon of each month after your statement posts and your credit score with them updates.

[Anonymous]

There’s no magic formula to get a CLI with them unfortunately. Just keep using it responsibly and keep the rest of your profile in check and wait it out. If they offer a smaller CLI take it even if you wanted more.

[ZackAttack]

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@Anonymous wrote:

At this point I'd go with the beggers can be choosers standpoint and take what you can get.  Over time (say) 2+ years from now if you want to evaluate your CLI pattern over that period of time and start declining smaller CLIs in hopes of stimulating a larger one, that's fine.  A $700 CLI on your account constitutes a > 30% increase to your CL, so while in dollars it may not seem great in terms of percentage it's actually pretty good.  It's no "worse" than someone with a $10,000 limit getting a $3000 CLI, for example.  There's a monster thread that you should check out, the Unofficial Discover Data Points if you've got some time to read where you'll hear just about every take on Discover CLIs possible, including success stories and lack of success stories with different techniques/tactics.

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+1

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OP,

I'd take what you can get. My credit report started on July 2018 with only a joint car loan (tells something about me) and an authorized credit card (doesn't say much). When I applied to discover's student card, they only gave me $500. After 4 statement cuts of use, they granted me $1,200 and I gladly took it without doing a double-dip. If you have a thin profile and not much, I would take what you can get. You never know if the next lender could go higher or less based on what accounts you have.

July 2018

Joint Car Loan of 7k (199.26/month payment)

Jan 2019

CU - $1k

Discover - 500

May 2019

Discover CLI - 1.2k

July 2019

Amex - 2k CL (shocking :eyes: )

Best Buy - 3k CL (MAJOR shocker ... AMEX didn't report when I applied)

[mikesonthemend]

I could also tell you where the S&P 500 will close tomorrow, but what fun would that be?