Asked Discover for cli got a DECREASE!!

[Anonymous]

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@BearsCubsOtters wrote:

You refinanced your truck and got cash out? Where did this cash come from? Was it a loan? Did you allow the cards that you paid off to report before the CLI request? A refinanced car loan is a new loan and if the cash to pay off cards was a personal loan (also new) than Discover saw that as excessive credit seeking and a possible signal that you are having financial difficulty. Even if that isn't true, that is what their computer models see. 

Some of you may not remember 2009-2011 when BofA would take any contact with a customer for an on-the-spot review of their account. One lady called to request a replacement card and ended up having her BofA accounts closed. Amex was closing cards and even offering people money to close their cards.

While 2019 is not 2009, the economy is rocky and many are calling for a recession within the next year. My point: people should tread carefully with credit. 

It looks like you got a little overconfident with your one and only prime/good creditor and they did not like something they saw. My opinion is that you should wait until your credit bureaus update with the cards paid in full and then ask for the CLI at that point. 

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This is exactly the reinforcement I need to stay in the Garden for at least a year. I'm like a turtle right now scared to poke my head out! 

[CreditInspired]

And that little turtle (tortoise) won the race. That’s you 😁

[MyDataMyChoice]

did you go to a dealershiop where they shop your rate around for the best deal?   You get hit with 10-14 credit inq in minutes (Supposed to count as one... but imo it doesn't)

The system sees high utilization - lots of outside inq - and you asked for more form us????    NOPE  

[Anonymous]

As an FYI, and I realize this it a bit late in the convo, but one should never seek new credit while at their max limits. It just never looks good depsite how it looks in your head. You may have had a plan that will work out in the end. But as some have pointed out Discover seems to be very stringent these days on various profiles. So you just happen to poke the bear unknowingly.

There is nothing you can do about it now, so don't let it continue to frustrate you. It's a simple CLD and not the end of the world, even though it might appear that way at first. In time they should(hopefully) restore your previous limit after responsible usage. 

[jrrsmith18]

OP... also a bit late in the convo but did you call the number on the CLD letter?
My situation was similar a few months ago, riding high utilization on my discover card for a while, paid it down a bit and they CLD me, 11k to 7.3k just right above the balance. Ignored it for a few days as whatever but decided to call in. Nothing to loose, they updated my income and immediately restored my limit. Lol got off the phone, limit was restored on the website so went and requested a CLI, got another 1k

[PRose123]

As many have said, you brought attention to yourself. I did the same thing a while back with Citibank. They balance chased me for SIX months! I brought everything else down, kept them maxed and that's when they stopped. I've since paid them down also but I'm scared to ask for an increase.

[CA4Closure]

Last month Discover increased my CL to $23,000 so I needed to replace my pergola to my patio and do some brick/paverstone work to my backyard. I charged $8,500 for the materials and did the work myself. I paid $4,000 of that charge off the following week. I owed $4,500 and Discover called me asking if I wanted my CL increased. I told them no that I was happy with my current line.

I think you spooked them with a high debt ratio. Start paying down your credit card bills. 

My Discover card is used to pay for car or boat maintenance. I use my NFCU Go Rewards AMEX card for everything else because of the great rewards.