Discover CLI Questions

[FalconSteve]

My wife has a Discover IT card that started as a secured card with a $1k limit. It's been getting approved for $300 increased on and off for a little over year (just got raised to $2800). Never more. Does Discover sandbox these cards? She's also prequalifed for a new card (we're considering applying, but waiting until she gets a Chase Freedom because of the 5/24 rule). She even had that prequalified offer when they were denying CLI. It feels a lot like they are punishing us for the account being secured (she had a thin file and her score is much higher now... I should have tried for the non-secured first if I knew then what I know now b/c it wasn't that bad)

I also read that turning down a CLI offer can get you a better one in the future... is this accurate? Can you even still do that (it used to ask how much of the $300 we wanted to acccept)?

Also, how accurate are Discover pre-approvals?

[CommanderCody]

Discover is an odd bird to say the least. 

My 1st started at 2.5k. Got a few clis over the first year up to 5k. Then nothing for nearly a year. Out of frustration checked the prequal and was approved for 2nd card. Little higher sl of 6k. Plan to combine them later. Also  1st card had their highest apr  2nd had their lowest. 

I know this doesn't answer your questions but wanted to share my experience. Hopefully it might be helpful. Maybe some of the experts can chime in for some good advice. 

[mrcraft]

Both Discover and Cap One uses asset backed securities, so their lower tier cards are known to be bucketed.  My Discover started as a secured card at $1,000, then before it unsecured, I think I added another $1,000 to my deposit.  Right now, it's unsecured at $4,500 but CLIs are hard to come by.

[Remedios]

My "low tier" ( full disclosure: word *tier* gives me hives) Discover started at $1000.00, and ended up at $17,000.00 at one year. By the second year, it was $24,000.00 and getting CLIs was easy. 

As card grew, it became harder. Part of it I'm sure is underwriting, but the other part is my use didnt justify the increase any longer, I had other cards with bloated limits, and probably too much available credit for their liking. 

Does declining CLI leads to a better offer?

In itself, no. Computer doesnt sweat that, nor does it care. More likely case scenario is if you decline, but continue using card, passage of time and use "allow" for better offer.

Trying to figure out Disco requires PhD in tea leaves reading, so just ask once a month and see what happens. 

My personal experience with declining $500.00 CLI..they stopped offering it after couple of months. 

[RootDet]

tea leaf reading, love it!

Disco is really hard and I don't understand it myself. others can get a cli at 3 months but they hold my feet to 6 months. Right now I cannot get a cli at all from them, even with 6 months. I am chalking it up to just needing to wait until after the pandemic or simply my usage does not suppose going higher, which sucks as I wanted a nice round number. 

I think you just have to wait it out. Now I do know it is completely possible to talk to an underwriter there, but you will absolutely take a HP for it. Unlike Capital One, not everything is 100% computer-automated, so if your willing to take a HP, you might be able to nudge yourself into an udnerwritter queue and plead your case. 

[FalconSteve]

Thanks for everyone's responses, I'm definitely leaning towards replacing the card (applying for a new one and dock-drawer this one- unless we need the extra bonus category spend- it stopped reporting as an AU on my credit reports and they have no idea why it vanished), after she gets her Chase Freedom card (they were way easier to get on 2007 when I got one as my first card- less picky and no 5/24 rule).

I really appreciate the feedback

[dogmeat]

I don't think 6 x $300 SP CLIs in a little over a year, increasing your SL by 280%, can be considered "punishing you," by any reasonable definition.  They're making you work for it, but they're obliging.

[FalconSteve]

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@dogmeat wrote:

I don't think 6 x $300 SP CLIs in a little over a year, increasing your SL by 280%, can be considered "punishing you," by any reasonable definition.  They're making you work for it, but they're obliging.

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It's actually over 4.5 years for all of the CLI, only 2-3 in the past year

[joltdude]

There have been reports of discover declining all but a CLI every 12 months right now.... so you get one, and have to wait 12 months... Hopefully this is a temporary thing not a long term policy...

-J

[RickNATL]

Discover requires patience.  My last CLI was $2800 but previous CLIs were between $500-1500 (give or take). I am at $32K, and have to use the card more before another CLI request.

Not sure about the declining a CLI...but some have lucked up on multi-CLIs back to back, the same day/time/moment of the first CLI request.  YMMV.