Discover CLI Expectations

[Anonymous]

I open a Discover it secured in July 2020. $200 Deposit. Unsecured Jan 2021, deposit returned and CLI to $1,500. 

Spend is $800-$1,200 per month. Balance always reports $0 until this month. Came in at $13

August 2020- PC from Discover Chrome to Dicover Cash Back. No CLI. CLI's denied last month and today. Credit profile looks pretty good. 745 TU Fico 8, Low DTI, 1-2% utilization. Income 130k. 

I've read some claim there's a one year mandatory wait after graduation for a CLI. 

Anyone have some advice on getting a Disc CLI? Thanks 

[Anonymous]

I don't know that there's too much more you can do to squeeze a CLI out of Discover.

You're showing major utilization of your existing credit line - you're spending 53-80% of your $1,500 credit limit per month. You're promptly paying off your spending.

Maybe it's time to try a different issuer? It's generally not wise to rely solely on a single issuer anyway. Would you consider Cap One, FNBO or Synchrony? FNBO and Sync especially tend to be fairly flexible and generous with SLs.

If you get a card with a healthy SL from a different issuer, that might (ironically) actually help with your Discover CL. Lenders don't like to depart too far from the pack. If Discover sees you with a (say) $5,000 CL from Sync, that would likely make Discover far more comfortable giving you a CLI. And there's also the utilization angle. There's often a fine line to straddle between robust utilization, which lenders like to see, and "over"utilization, which lenders think is risky. Maybe Discover thinks that your history of spending up to 80% of your monthly CL is "risky." In that case, getting an additional card would help, as you'd be able to move some of your spending off of your Discover card. Maybe Discover would be happier with <50% utilization.

[Anonymous]

Thank for the detailed reply. Your point makes since. 

Luckily, I just received my Amex BCP in the mail. It's not reporting yet though. $10,000 SCL. 

I'm hoping that does the trick. Fingers crossed! 

[DONZI]

Congrats on the BCP and nice CL!

[FishingGuy]

Congratulations,   That's a nice starting line, and in time you'll wind up with multiple Amex cards..... usually soft hits,   but let them get a history of on-time payments before you apply for another one.   I believe Amex sometimes takes two months to report,  use it, pay as you have been on your Discover.... and in a few months I would apply for another card (from another/ different  issuer)....build your credit with time and one or two other issuers..... then go back to request a Discover CLI.....  just remember.... slow & steady wins the race.

[SweetCreditObsession]

I opened a Disco last year and was told by them the policy is card must be opened at least 12 months before I could get approved for 3 CLI. Once my 12 months was up, I got the CLI. You may want to ask via chat.