Discover SL

[Anonymous]

I know there is no absolute answer, just looking for opinions or experience. I was SP shopping and have been approved for several cards in the $5-6k range. I was approved for both the DIscoverit Cash Back & the Gas & Restaurant Card. Both offer 0% for 15 months which is nice but I always PIF. APR offered was 21.99%. If I pulled the trigger on the DIscover should I expect an SL in the same $5-6k range? I know it is not a yes or no answer, again opinions are welcome. Currently, hold an Amex Plat(10kPoT, and a few other cards with CI between 1k-3k. Utilization usually <2% if not 0%. I regularly charge >$2500 throughout the month and pay throughout the month. Low 7's all three bureaus. 

Edited to add preapprovals were FNBO@$5900, & Gm Rewards $5k. I didn't go forward with either. Still about a month away from deciding on anything new.

Responses are appreciated as always.

[MarkintheHV]

It's always a crap shoot with Discover.  You see my CLs below, and all discover would give me is 3k SL.  Closed them pretty quick.

[Anonymous]

Thanks Mark,

I think that will be the popular response. I suppose if I call they won't hint at my SL either?

Joe

[dragontears]

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@Anonymous wrote:

Thanks Mark,

I think that will be the popular response. I suppose if I call they won't hint at my SL either?

Joe

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The front line CSR will have no clue about SL. They are not trained in nor have access to the underwriting criteria. 

My first Discover card had a 4k SL and sits at 36k, my second had a 3.5k limit and sits at 22k.

[FinStar]

As others have mentioned, no way for us to determine what SL will be given. Also, don't consider POT into the mix when it comes to limits (that's an internal AmEX thing). Starting limits can range anywhere from $500 to upwards of ~$20K in a variety of cases. So, the only way you'll know for sure is once you apply and click 'submit'.

[Anonymous]

Thanks @FinStar If only we were fortune-tellers....... New mortgage shopping at the end of this year so the plan is one more card with a half-decent SL and HP next month to replace some starters I will be closing, and then no more HP's or inquiries until next Nov. or Dec. will be for the new mortgage. I just don't want to waste a HP if the SL winds up being lower than the birds in hand of FNBO or GM Rewards but risk losing out on a higher SL with DIscover. Was hoping a Discover detective on here would say something like, "With a clean credit file they tend to give an SL of X% of your income. Long shot I know, but one can dream.

Decisions.....Decisions......

[bigseegar]

Like the others have said including the Zen Master FinStar, no way anyone can tell or really even guesstimate what your SL would be. But with that said based on that high APR Preapproval and lots of other Disco posts I've seen. Plus my own approval last week and the SL and much lower APR I got. I'd say your chances are greater of a SL less than what you listed than they are at or above that amount. I've seen a ton of folks post SL's at $2K-$4K. But my info is nothing more than a guess. Like Fin said on,ya way to know is to pull the trigger. 

[FinStar]

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@Anonymous wrote:

Thanks @FinStar If only we were fortune-tellers....... New mortgage shopping at the end of this year so the plan is one more card with a half-decent SL and HP next month to replace some starters I will be closing, and then no more HP's or inquiries until next Nov. or Dec. will be for the new mortgage. I just don't want to waste a HP if the SL winds up being lower than the birds in hand of FNBO or GM Rewards but risk losing out on a higher SL with DIscover. Was hoping a Discover detective on here would say something like, "With a clean credit file they tend to give an SL of X% of your income. Long shot I know, but one can dream.

Decisions.....Decisions......

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Well, the sad news is my crystal ball broke a couple weeks ago -- some folks already knew that, but just wanted to give you a heads up 😂 and we all know Miss Cleo isn't around here anymore soooo 😬 

I doubt Discover may come close in the range of FNBO or the GM Rewards pre-qualified results you obtained. Those two particular lenders tend to be a little bit more on the 'generous' side -- profile-specific of course. Then again, I could be wrong since we really don't know much about your overall profile, income, DTI, AAoA and all that jazz.

My guess would be maybe $2K? Perhaps $3K? Again, just a wild guess. And, *if* you are approved and score anything close to those 2 numers (+/-), pizza and beer...on you 😂 and on the Discover card.  j/k

[Anonymous]

@FinStar LOL! I use the Amex as my daily driver, using it as a debit card then PIF usually every Friday. This exercise is just to raise the overall available credit amount. Clear-headed and logical thinking Joe says to pick the FNBO because of CLI potential in the future. That's the right choice I know and thank you all for reinforcing that. However, risk-taker and inquisitive Joe says "now I'm really curious what the Disco SL would be?" Tell you what, if I go for it, it won't be till next month, but if I do and it's above $3k I will DM you to find out where I send the beer&pizza gift card to. 

Once again, thank you to the MyFico braintrust.

[FireMedic1]

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@Anonymous wrote:

Thanks @FinStar If only we were fortune-tellers....... New mortgage shopping at the end of this year so the plan is one more card with a half-decent SL and HP next month to replace some starters I will be closing, and then no more HP's or inquiries until next Nov. or Dec. will be for the new mortgage. I just don't want to waste a HP if the SL winds up being lower than the birds in hand of FNBO or GM Rewards but risk losing out on a higher SL with DIscover. Was hoping a Discover detective on here would say something like, "With a clean credit file they tend to give an SL of X% of your income. Long shot I know, but one can dream.

Decisions.....Decisions......

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If your going for a mortgage. Put new accounts on hold. After getting the house. Go for it. Higher the scores, lower the interest.