Discover It!

[Anonymous]

New member here.  Working on rebuilding my credit after some irresponsible college years and not having any sort of financial mentor in my life.  Just this week I have brought my credit utilization down from 58% to 41% just by requesting (or having been offered) CLI's and opening a new Discover It card.  Here's a summary of this week's work:

Chase Freedom: Increased from $2000 to $3500

Chase Southwest: Increased from $3000 to $4200

Discover More Student: Increased from $1500 to $2000

Discover It new credit card: $8000

Nothing pulled a hard inquiry except the new Discover card.  Hopefully I will reap the score benefits here in the next month!

[Five6Two]

Hi, welcome to myFICO and congratulations on the CLIs. I had some irresponsible college years myself, I finally have most of that paid down and they’re on balance transfer cards now. You’ll learn a lot here!

[Marz2002]

YOU...

CONGRATS on your CLIs, your Disco AWESOME SL, your Rebuilding Success, and Welcome to the FORUMS!!!

[GApeachy]

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@Anonymous wrote:

Discover It new credit card: $8000

Nothing pulled a hard inquiry except the new Discover card.  Hopefully I will reap the score benefits here in the next month!

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That hp for that one is well worth it!  Congrats!!!

[Fated4Credit]

Where those increases on ur chase cards auto? Cause I know to request one its a HP idk if they would use the same HP for more than one card though, but either way congrats!

[JoeLuvsHisCredit]

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@Fated4Credit wrote:
Where those increases on ur chase cards auto? Cause I know to request one its a HP idk if they would use the same HP for more than one card though, but either way congrats!

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+11111111111111111

CONGRATS OP

[CreditInspired]

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@Anonymous wrote:

New member here.  Working on rebuilding my credit after some irresponsible college years and not having any sort of financial mentor in my life.  Just this week I have brought my credit utilization down from 58% to 41% just by requesting (or having been offered) CLI's and opening a new Discover It card.  Here's a summary of this week's work:

Chase Freedom: Increased from $2000 to $3500

Chase Southwest: Increased from $3000 to $4200

Discover More Student: Increased from $1500 to $2000

Discover It new credit card: $8000

Nothing pulled a hard inquiry except the new Discover card.  Hopefully I will reap the score benefits here in the next month!

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Congrats on the CLIs. Very nice. 

IMHO, the next step is to pay down balances to get to less than 28.9%. You will see another bump in scores. 

[Anonymous]

For the SW Chase, I got a letter in the mail "inviting" me to apply for a CLI, and it was an instant approval once I logged in.  Then I called Chase and explained that I was just granted a CLI on my SW card and asked for the same on my Freedom card, and was approved.  I asked about a hp and the customer service rep said no.  Nothing has shown up on my credit report yet (I pay for the Experian membership service).  Hopefully the customer service agent was truthful!  If not, then I'll have two hp's on my report in the same day.  Probably not great but I'm hoping the benefits of the CLI and the new card will outweigh the negatives of the hp's/

[Anonymous]

That is most definitely my top priority!  I am still early in my career so cash flow isn't.....flowing haha.  I am paying down everything I can when I can, and don't use any of my cards for anything except bills that get paid off monthly.   Increasing my CL's was just another auxiliary step to hopefully help improve my overall portfolio.

Curious, what is the significance of 28.9% ?  I have always heard 30% is the max balance you want to allow, but maybe people are just rounding when they say that.

[Fated4Credit]

@Ihinzer: You would be in extremely lucky of not getting a HP from chase for CLI, even getting an auto is a rarity for them, almost like seeing a shooting star or a sighting of big foot. FYI, that's kinda the norm of complaints /running joke on the forum about chase & not getting increases w/o a HP.

The other option is u got a rep that didn't know about the HP rule which is just as great.