CLI Denied from discover

Anonymous · ‎10-18-2014

Hi ,

I got my card with credit line 750 then after period about 8 months, I have requested credit line increase, unfortunately I get denied .Today , I have received the mail and the reason was RATIO OF MONTHLY PAYMENT TO INCOME (DEBIT BURDEN ) ,I don't understand whats that mean ?

Also , I want to know how credit cards lenders verify the individual's income ?

Thanks

myFICO Scores 10/18/2014 : EQ (687) TU (700) EX (680)

Anonymous · ‎10-18-2014

@Anonymous wrote:
Hi ,

I got my card with credit line 750 then after period about 8 months, I have requested credit line increase, unfortunately I get denied .Today , I have received the mail and the reason was RATIO OF MONTHLY PAYMENT TO INCOME (DEBIT BURDEN ) ,I don't understand whats that mean ?

Also , I want to know how credit cards lenders verify the individual's income ?

Thanks

Usually they take your word for it unless they initiate a full account review.

What's your scores look like otherwise, Obligations, Income?

Anonymous · ‎10-18-2014

Thank you I have updated my post

Anonymous · ‎10-18-2014

@Anonymous wrote:
Thank you I have updated my post

How about utilization, also, any auto loans? mortgage? student loans? installment loans in general

Anonymous · ‎10-19-2014

They know your income because you provide it to them when you initially apply for the card. Unless you update or change your income information they will use the old information for the CLI. Many will ask for income when you do CLI to get updated income info.

Based on the income information they have (what you likely gave them when applying for the card or when applying for the CLI) and based on your debt (credit cards, mortgage, auto loan, student loan, personal loans, etc), they are unwilling to increase your limit.

Anonymous · ‎10-19-2014

Before making a CLI request make sure Discover has the correct information on your salary and housing.

Log into your account. Go to your profile page (Edit Account Profile) and make sure your Income and Housing Information is entered correctly and updated.

taxi818 · ‎10-19-2014

@Anonymous wrote:
Hi ,

I got my card with credit line 750 then after period about 8 months, I have requested credit line increase, unfortunately I get denied .Today , I have received the mail and the reason was RATIO OF MONTHLY PAYMENT TO INCOME (DEBIT BURDEN ) ,I don't understand whats that mean ?

Also , I want to know how credit cards lenders verify the individual's income ?

Thanks
myFICO Scores 10/18/2014 : EQ (687) TU (700) EX (680)

CapOne journey CL $500| Chase Freedom Visa CL $1500| Amex blue CL $3500| Discover it CL $750| Barclay financial Visa CL $1500. |.

From the income you put on application when you first applied.