Student graduation + new cards/CLIs on student cards

[Anonymous]

Hi, 

I finished (grad) school just this month and will be going full-time (software at a tech company in the Seattle area) in just over a month, so I'm currently exploring options with credit cards. I currently have a BoA Cash Rewards with a 1.5K CL and a Discover It with a 1K CL, both with an account age of about 1.5 years with no missed payments, and balances were always paid in full. I'm also an authorized user of a Citi Foward credit card that my parents gave me 5.5 years ago when I started undergrad as an "emergency" card; the card is still active but sees very light use these days. I do my best to manage my credit; I generally keep my credit utilization for both of my cards under 30%. My Discover-reported FICO score is 770, Experian is 733, and CK is 716, all current as of this month.

I'm not particularly interested in keeping my BoA card, but I'd like to keep my Discover around. They started me out at a 500 CL and auto-CLI'd it by 150-200 once every 4-6 months (the last auto CLI was earlier this May). About a month ago, they told me to update my personal information (which I did, including information about my new job and income). I logged in just today and (curious) wanted to try the on-line tool to request for a higher CL, but I got an error message saying that "my request cannot be processed at this time." Should I give Discover a call? The CL on the It card will be too low when I start real-life, and if Discover does not raise it within the next month, the It card will be moved to a very dark corner of my wallet. 

Also, at this point in my life, would it be beneficial to add another card? AMEX seems fairly interested in me, because they started sending me prequalify offers for their platinum card (with a 100K point sign up bonus, where the standard is 40K) and their BCP (w/ a $250 sign up bonus, where the standard is $100) last month. I like their BCP offer, but I'm more interested in their EDP card, but have not gotten any offers for that card yet. Chase has also sent me (standard) prequalify offers for both their CSP and Freedom cards. I do expect to do a fair amount of travelling in the future, so I'd like a card that earns points, not cash, though I'm a bit weary of opening too many new lines of credit. (I am more careful about looking for good sign up offers, because I picked my Discover up at a time where they did not offer any sign-up bonuses)

What should I do with Discover and AMEX/Chase?

Thanks! 

[kdong1996]

So I take it you're trying to obtain a card with a sufficient limit to use as an everyday card? If so I think Amex would be the way to go since you can ask for a 3x increase after 60 days. That way even if you get a lower initial limit, you'd be able to increase it to an acceptable amount.

As for Chase Freedom I'd wait for the 200 after 500 spend which seems to come up once a year (unfortunately it just ended a few days ago this year).You'd have to spend $4000 during the bonus categories to get $200 in points anyways. Personally with my Freedom and Amazon card they gave a one time auto-CLI of 1K each after 3 months and they require a hard pull for a customer initiated CLI. I'd try giving Discover a call and see if they can give you a soft pull CLI.

I'd try asking for a soft pull CLI increase on the BoA card too.

[Anonymous]

For Discover, yeah, I'd go ahead and call them.  They graduate/product change the student cards upon graduation and even if you have passed your graduation date in your profile a call to make sure it's taken care of probably wouldn't hurt.  You could see if they'll consider a CLI at the same time if you like but they'll essentially just move your file over from the student section to the regular section, etc.

It may already be done because you've updated your profile but the call can make sure it is.

[Anonymous]

Just called Discover. They (surprise surprise) denied any increases without a HP. What a bummer. 

[kdong1996]

Time to lock in that 2014 Amex MSD then

[Anonymous]

How likely will I get approved for the EDP if I have a preapproved offer the BCP with AMEX?

[kdong1996]

The pre-approved offers don't mean much. They're sent out to anyone who meets a criteria such as a set score range, clean history, etc. I would say you have a rather good chance for the EDP since you already have a decent score and over 1 year of history with other cards. I'd say you probably have a good chance with the CSP too if your income is sufficient. Chase pulled EQ and TU for my both of my applications (They might pull EX) and your score in TU is pretty high.

[Anonymous]

Discover CLI'd my account to 2.5K from 1K ... 2 months after my first request!