Discover CLI Bootcamp!

[Anonymous]

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@Anonymous wrote:

Very nice growth there!  At what points typically have we seen Discover perform a financial review and/or what are the max limits you all know of Discover growing to for anyone?

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Good question. I want to know that before I start requesting CLI's on my new card. I hope they don't end up being a Comenity or Synchrony bank!

[austinguy907]

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@Anonymous wrote:

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@Anonymous wrote:

Very nice growth there!  At what points typically have we seen Discover perform a financial review and/or what are the max limits you all know of Discover growing to for anyone?

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Good question. I want to know that before I start requesting CLI's on my new card. I hope they don't end up being a Comenity or Synchrony bank!

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I've read that their internal limit w/o POI / verification comes in at a whopping 50K... once you provide POI though it seems limitless and probably a hard cap of 100K but, I haven't seen anything reported that high at this point.

[Anonymous]

Ok cool that's good to know.

[heychrisbaker]

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I've read that their internal limit w/o POI / verification comes in at a whopping 50K... once you provide POI though it seems limitless and probably a hard cap of 100K but, I haven't seen anything reported that high at this point.

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Yes, I too have read and heard the internal limit without Proof of Income is 50K.  I'm currently at $34,500 so I'll continue to ask for CLI every six months until I hit the 50k mark. 

[Anonymous]

Just curious to the people who continue to apply for CLI but are worried about hitting POI: what's the issue with POI that you're afraid of ??? Please don't think I'm asking in a negative way. I'm just trying to understand why anyone who's applying for credit, substantial credit no less, would be worried about providing POI ??? Don't you provide POI for a mortgage ??? If the CLI you're looking for are substantial, why wouldn't you expect the lender to require POI ??? Is it that some people are seriously inflating their income on applications or is it some other reason ??? I'm just trying to understand this aversion to providing POI for a credit line. Like I said, please don't flame me for asking. I'm just trying to understand what the drawback is to providing POI. Thanks !!!!

[austinguy907]

POI for a CC for most is just a PITA or over intrusive like the 4506 form the IRS request that some feel is too invasive to their privacy.  For others it's just that extra hurdle of effort to get a CLI and having to wait more then 5 minutes for the result gives them the shakes.  

[heychrisbaker]

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@austinguy907 wrote:

POI for a CC for most is just a PITA or over intrusive like the 4506 form the IRS request that some feel is too invasive to their privacy.  For others it's just that extra hurdle of effort to get a CLI and having to wait more then 5 minutes for the result gives them the shakes.  

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+1 Agreed. 

[Anonymous]

austinguy907, I could totally understand it if it was for a basic CC. But when you're talking about 50K CC CL's I think the lenders would be absolutely crazy not to request and/or require POI. To be upset that a lender would require this at those CL's seems crazy. I'd be willing to bet that most applicants inflate their income somewhat, and some inflate their income substantially. At the very least, I'm certain most error on the high side and not the low side. It's human nature.

[Anonymous]

Well for me I don't need to even come close to $50K on one card. I wouldn't use nearly that much. The only place I felt comfortable providing my POI is for my mortgage lender and that felt kind of invasive to an extent but that was understandable because I was actually borrowing well over $300K for a home.

[austinguy907]

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@Anonymous wrote:
austinguy907, I could totally understand it if it was for a basic CC. But when you're talking about 50K CC CL's I think the lenders would be absolutely crazy not to request and/or require POI. To be upset that a lender would require this at those CL's seems crazy. I'd be willing to bet that most applicants inflate their income somewhat, and some inflate their income substantially. At the very least, I'm certain most error on the high side and not the low side. It's human nature.

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I was responding to someone else's question.  I don't have a problem providing a 4506 to Amex which I've done already this year.  I have a pretty good understanding of UW guidelines and risk management at this point in my credit career    Thanks for your concern though about POI and me!