I recently got a letter for my Discover More (0 balance) informing me that I may be eligible for a credit limit increase and to call them up to verify income etc. They called me twice and left voicemails. I'm concerned because I don't want any hard inquiries on my credit report, and I'm actually scared they will LOWER my credit limit (I still make the same amount of money, but I really don't need the 10+k they give me). What do you think this is all about? A ploy to get me to get an inquiry or lower my credit limit?
Starting Score: 557 (2005)
They're not out to lower your score - heck, if I was a bank I would want my borrowers to have higher credit scores. They just think that if you have a higher limit you'll spend more on it - more $$ for them. Give them a call and see if they will do it with a soft pull. In my experience thay always try a soft first, then if that won't do they'll tell you they need a HP to complete it, in which case you can turn it down. Give it a shot - even though you're not going to spend any more, a CLI would improve your utilization.
Thanks for the advice! I called the number and Discover gave me a 2k CLI and a 0% APR on purchases for a few months 
@hyprble wrote:Thanks for the advice! I called the number and Discover gave me a 2k CLI and a 0% APR on purchases for a few months
Congrats! Great prime card...pretty good CLI for Discover...and a good promotional.
@hyprble wrote:Thanks for the advice! I called the number and Discover gave me a 2k CLI and a 0% APR on purchases for a few months
Congrats! Did they do a hard pull?
I called last week asking for a CLI on their automated phone system and it said they need more info and transferred me to a representative. She said she had to do a HP for any CLI so I said no thanks. I called again just now, same thing transferred to a CSR, this time I mentioned I am just trying to get my score above 800, also mentioned I am military, CLI instantly approved from $2,500 to $4,000, no hard pull. Then I decided to test my luck and get an APR decrease, approved from 20.99% to 17.24%. Not bad for a day's work!
@LTomBerry wrote:
@hyprble wrote:Thanks for the advice! I called the number and Discover gave me a 2k CLI and a 0% APR on purchases for a few months
Congrats! Did they do a hard pull?
I called last week asking for a CLI on their automated phone system and it said they need more info and transferred me to a representative. She said she had to do a HP for any CLI so I said no thanks. I called again just now, same thing transferred to a CSR, this time I mentioned I am just trying to get my score above 800, also mentioned I am military, CLI instantly approved from $2,500 to $4,000, no hard pull. Then I decided to test my luck and get an APR decrease, approved from 20.99% to 17.24%. Not bad for a day's work!
Grats!! It was not a hard pull for me (the call was recorded and I confirmed with the rep more than once). The rep asked me a few questions to verify my income, rent, and if I intended on paying my other debt down. I was put on hold for a few minutes and granted a CLI! Then I asked about promo APRs and they transferred me to the right department. I'd have to say Discover CS is pretty nice (even when they upped my APR a few years ago) - or at least REALLY nice after you've paid them thousands in interest in one point and now have a 0 balance 