Automatic CLI from Discover Card!!

[tracynva]

This card is only 3 months old and I have fair FICO scores (620 – 650).  I was pleasantly surprised!   If it might help anyone trying to get a CLI, this is a summary of my card usage:

10/17/09 - Received card with $1K limit.  Charged almost to limit and paid half before first statement closed.

11/17/09 – Received statement with $400 balance.  PIF before due date

12/17/09 – Received statement with $770 balance.  Paid $100 before due date (Christmas spending prevented me from PIF and I have a low interest rate on this card)

1/17/09 – Received statement with $850 balance.

1/23/10 – Current balance is $900.  Received letter from Discover:  “Congratulations!  We’re please to inform you that your outstanding credit management has earned you a credit line increase on your Discover Card.  Your new Discover Card credit limit is $1,350.00.”

I’m planning to PIF on 1/29/10, and then start a similar cycle to see if I can get another increase!

Message Edited by tracynva on 01-23-2010 01:32 PM

[bakalao2k]

May I ask you what your purchase APR is?  Mine is 12.24%.

[tracynva]

Currently 3.99% but that is an introductory rate.  It's scheduled to increase in 4/10...I think to around 18%.  I'm hoping if I have good utilization then they might be willing to lower that.  I'll find out in April!

[DI]

Congratulations you're on the same program as I.  I get CLI's every three months.

I received the card in July with a $2500 CL.  I received my first CLI in October. Limit was raised to $3400.  I received another CLI in January.  Limit was raised to $4300.  I expect my next increase first week in April.  I expect the limit to be raise to $5300 to match my other CL. 

[Anonymous]

Hey guys, I received the Discover More student card back in August 09.  Measly limit, but was just glad to have my first major credit card.  They told me I would be considered for automated CLIs every 6 months.  I've been using the card a ton and have never carried a balance.  In fact, since the limit is so crappy, I routinely charge the limit and pay it off a couple of times a month.  Yet, all I'm reading about is all you guys with 3 month auto CLIs...what gives?

Message Edited by Financial_Reinvention on 01-25-2010 01:07 PM

[DI]

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@Anonymous wrote:
Hey guys, I received the Discover More student card back in August 09.  Measly limit, but was just glad to have my first major credit card.  They told me I would be considered for automated CLIs every 6 months.  I've been using the card a ton and have never carried a balance.  In fact, since the limit is so crappy, I routinely charge the limit and pay it off a couple of times a month.  Yet, all I'm reading about is all you guys with 3 month auto CLIs...what gives?

Message Edited by Financial_Reinvention on 01-25-2010 01:07 PM

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Your time will come.  Continue to PIF and on time and Discover will reward you in six months as promised.  You won't even have to ask.