CSR at Discover told me some interesting things.

[plasticguy]

I wanted to know the Max CL offered and was told that 16K was it. They mentioned that they wouldn't be allowed to do a HARD INQUIRY. I wasn't going to take one any way. I just wanted to know. There were no immediate plans to lower the 16K which has been on the account since Oct 08

[creditwherecreditisdue]

Discover opened my account at $8.1K last July, and if they will increase it to $10K+ that is fine. What would not be fine is a ratejack or a CLD. The lowest rate now offered for a new Discover Card is 10.99%. My account was opened at 11.99% and now is at 9.99%. That makes me happy.

As far as rewards are concerned if you take advantage of the rotating, capped 5% categories when you can and the outstanding on-line merchant program (5% minimum, uncapped) you will get a very nice benefit. The dollars you accumulate in your rewards account can even be redeemed at better than 1:1. A Discover Card combined with a nice cash back card (like PenFed's PCR Visa) is a very strong combination. Gotta use the right tool for the right job.

[creditwherecreditisdue]

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@plasticguy wrote:
I wanted to know the Max CL offered and was told that 16K was it. They mentioned that they wouldn't be allowed to do a HARD INQUIRY. I wasn't going to take one any way. I just wanted to know. There were no immediate plans to lower the 16K which has been on the account since Oct 08

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That was then. $12K is now. What exactly are you disagreeing with? It was never stated that anyone's CL was going to be rolled back to $12K. The discussion regarded increases.

[creditwherecreditisdue]

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@athensguy wrote:

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@lajntx wrote:
I am a little confused here. Other than a "prestige" issue, why would someone need multiple CC's with limits in excess of 10K? Having such a credit file one shouldnt have too much of an issue with establishing a financial relationship with a local bank/CU to have a low interest line of credit/signature loans for purchases in excess of 5K ( assuming large purchases with the intent to keep untilization down is the reason ). Yes there are rewards programs, but is walking around with 100K+ in credit card lines really necessary?

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Because of FICO. If I want to let $5K report on my reports, I need $50K+ in lines to offset that. I don't have to worry as much about it because I use Signature cards, but if I was trying to allow that much to report monthly on one card, I would want that one card to be $50K...

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+1