It's not so much that it's difficult to get a CLI from Discover (well ... that too), as that there is no identifiable pattern to who does or does not get one, so it's hard to advise anyone on how to improve their odds, what their odds are, or how long to wait. Other than boilerplate advice like keep your balance under control, use the card, PIF.
I'm sure it's based on criteria coded in software, but the effect that customers see appears random.
@Brian_Earl_Spilner wrote:
@CreditCuriosity wrote:Cap-1 and Discover are taking big losses more-so than Chase, Citi etc on a percentage basis during this time due to their target audience so Discover is going to be more tight are their losses % compared to other big banks will be higher. They are getting hit hard.. Heck even my Amex stock I own is getting pounded. No lender is avoiding huge charge-off accounts and alot more to come, so don't expect any real CLI's during this time..
It's my understanding that they havent had any meaningful increase in delinquencies. Chase and amex are the ones being hit harder.
Yes saw that article and many others as well many banks are up'inig their reserves for charge off's/losses. My personal opinion is Cap-1 and Discover will get hit harder as more of a sub-prime card although not always the case.. So people are likely to default on these cards imo, but time will tell how much pain each bank is going to take. On the opposite side of the arguement with disover people tend to carry more balances than with chase so maybe they will offset some of their possible losses wiith interest people will pay vs. amex is more-so a PIF type of crowd/lender. As mentioned Amex is taking a beating and could show you my Amex portfolio to prove it, but prefer not to look at my investments currently or makes me shed a tear. 
.. Although better than what it was 3 weeks ago!
I don't think of Discover as sub-prime, though maybe it is. In my mind, it is the quintessential middle-class American card. I have not done research on it. I am not sure it's easier to get a Discover Card than to get, say, Amex Delta Blue or Citi Double Cash.
Cap One does have the Platinum and Platinum Secured, which is territory that Amex and Chase ignore, and Citi and Discover dabble in.
@KJinNC wrote:I don't think of Discover as sub-prime, though maybe it is. In my mind, it is the quintessential middle-class American card. I have not done research on it. I am not sure it's easier to get a Discover Card than to get, say, Amex Delta Blue or Citi Double Cash.
Cap One does have the Platinum and Platinum Secured, which is territory that Amex and Chase ignore, and Citi and Discover dabble in.
Discover caters to both sub and prime markets hence the comment where-as citi legacy, chase, amex, etc.. not so much. Discover is a decent card as long as one doesnt care what their limit might start out at and if they will ever get a CLI, etc.. It works for alot of people. I can say I havent used mine in about 6 months, but have way to many other cards. Time to do a 1 dollar reload on amazon to let them know i am still alive . Discover double cash back is really nice as well for the first year. I am not slamming on it as works for some certainly, but other cards have way more of my heart than discover. Anways getting abit off subject myself for that i am sorry
