No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Well my friends, it looks as if my "lucky streak" might have finally run out.
Today is six months since my last CLI on my QS MasterCard, so I gave it a try... I got the notice that a letter would be mailed. I have electronic delivery of statements and documents, but so far there's nothing there.
My account was upgraded from a QS1 to a QS back in February, and some people have reported that an account upgrade impacted their CLIs (which doesn't make sense, since it's not a CLI, but it's their game we have to play...) When I get the letter (either USPS or online) hopefully I'll be able to know for certain if this was the issue. If it was I'll just try again in August, which is just around the corner.
With this in mind, I logged into my Discover account. I'm still two weeks shy of 90 days since my last increase, but I thought if I tried now I might get the 2-3 day message and it would simply be reviewed by someone, which would be fine. I just made a $2800 payment (via BT) and they are showing my current TU as 771. I know once my new accounts start reporting (which will happen any time now) my score will take a hit so it was worth trying now.
I was a bit surprised that instead of being offered another $500 or getting the 2-3 day message, I was given the message that they were unable to increase the credit limit at this time - not even an option for a HP (which I wouldn't have taken anyway). Every CLI they've given me so far has been with me carrying a balance of several thousand dollars and with a dirty credit file. Now that my file is clean and my balance is only $530 they tell me 'no'... LOL.
Depending on what Discover's letter states as the reason, I'll likely try again with them a couple of weeks once I hit my 90 days. (My current credit line is $6500, so there's also the chance I've reached my 'max' exposure for my modest income, but I don't think that's it.)
So there's my events of the day for me. I'm not 'bummed' over it at all (both cards have very sufficient credit lines as is) but I decided to share here with the hopes that it might help someone else.
Same thing here! I seem to have hit a wall with Discover, it has been more than 90 days since my last CLI and they always decline now.
I am also not bummed about my discover being currently stuck, since it's a decent CL $3,400. I consider a card to be useful if the limit is above $3,000. One exception to that is my BCE which is stuck at $1,000, I consider that card to be useful as well. I think that Discover is currently slightly spooked that I added the United Club and increased the BofA card to huge limit. I know Discover will show me some luv with some nice gardening.
@Discover2016 wrote:I am also not bummed about my discover being currently stuck, since it's a decent CL $3,400. I consider a card to be useful if the limit is above $3,000. One exception to that is my BCE which is stuck at $1,000, I consider that card to be useful as well. I think that Discover is currently slightly spooked that I added the United Club and increased the BofA card to huge limit. I know Discover will show me some luv with some nice gardening.
+1
I agree completely... even if I were to never get another CLI with Discover I would be OK with it. Once my new account 0% promo is over in a couple of months I'll never be able to do another BT to them anyway since with them there's no way to avoid interest on new purchases if you're carrying a BT. Since my category spend is generally small and I PIF anyway, $6500 is quite plenty for me. It does seem a bit odd, though, that they seemed to have liked me better when other lenders liked me less... my new accounts aren't reporting yet and I suspect once they do report Discover will probably put me in 'time out' for even longer. That's OK, though, I still like them very much.
I also agree with you on the BCE... I have the BCP, and mine is also 'stuck' at $1k, but it still works hard. I only use it for groceries to get the 6% cash back, and when the occasional Amex Offer comes along that will run it a little higher than usual I just check to make sure I am below my credit line if it's near my cut-off date. I would like to have a higher limit, but it's not really slowing me down.
I don't think your lucky streak has come to an end, I just think it's a timing issue. No doubt once your time line gets back on track you'll get those increases. And BTW you've been on a tear with approvals lately and I haven't been able to keep up, but by looking at your signature I owe you some major Congrats!!!! Congrats on the PRG, The Delta and Of course finally securing your Citi approval, congrats on all your hard earned and deserved success.
@creditguy wrote:I don't think your lucky streak has come to an end, I just think it's a timing issue. No doubt once your time line gets back on track you'll get those increases. And BTW you've been on a tear with approvals lately and I haven't been able to keep up, but by looking at your signature I owe you some major Congrats!!!! Congrats on the PRG, The Delta and Of course finally securing your Citi approval, congrats on all your hard earned and deserved success.
Thanks so much my friend!
It could very well be a timing issue; I was hestitant to even mention it here, but I figured if I share the good I might as well share the bad... LOL.
Both Capital One and Discover can be 'quirky' at times, and my own case is likely just another instance of that.
Don't feel bad UncleB, I'm pretty much in the same boat. Discover won't give me an increase without a HP (not happening), but it did just unsecure a few months ago so I'm hoping they'll eventually quit asking for a HP. And with Cap1, I think I've hit max exposure with them, so no more CLIs for me - which is fine because they have given me decent limits.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
Hopefully you'll get a letter that said "Oops, we made a mistake... It's been increased by 5k!"
I don't think it's because of the account upgrade. I didn't learn about upgrades until Jan 2015 and ended up bouncing all 3 of my cap one cards at the time with upgrades and it didn't change the VERY strict 6 month CLI shackles they had on me. Maybe not enough spend? My card got declined for a CLI in March (my oldest and last card left). It was due to not using the current credit line. Ended up making about $500 worth of purchases on it and tried again in May and it said "You can have $500 CLI...". Since I was trying to combine my cards I said... Whatever, took the $500 and combined my cards.
As for Discover, mine is a joint account which requires both me and my wife to call in to get a CLI. You can't do it online we got a Auto CLI 3 after three months (Aug 2015) but haven't seen any auto luv since. I'm sure once you hit 90 days they'll slide you a few grand... Maybe even a million or two
(Have you always had that many cards in your sig? You've been busy? Lol!)
I'm kind of in the same situation also. Cap One is stuck on both cards. Just generic answer because they can't say anthing else. I hit Discover on Friday and got the same message. It isn't quie 90 days yet. So I will try again. They do keep saying they cannot give me an increase now but in the future they can? So what the heck does that mean? I just want higher limits and less cards.