Discover CLI request after 7 mos.: DENIED

[score_building]

i know discover tends to be conservative with cl/ cli in any case:

reasons listed in denial letter: 

blanaces too high (30ish when approved 20ish now)

major delinquency (5 yr old SL late upon app. now 5 yr 7 mos old)

pushing a 10% default rate, discover seems to be on a downward trajectory at the moment.

no mention of my 4 new accts. but i'm guessing that had something to do with the denial.  i also have a large bal on the card (35uti/ 0% offer) that will be paid off soon, probably should have waited for an auto.

i guess i'll wait for the year aniversary, perhaps then i'll be eligible for cli from discover.  they seem to be in cld mode if anything at the moment.

Message Edited by score_building on 06-22-2009 08:01 AM

[Anonymous]

I'm so sorry for the denial. Tells me a lot about what I need to accomplish in the coming months if I hope to receive a CLI on this card though.

My Discover is only 3 months old now and I also have a large 0% BT on it. I was hoping for an automatic CLI at 6 months as the balance is paid down, but am thinking now that I won't hold my breath.

Please keep us updated in the coming months...really interested in seeing if they increase your limits as the card ages and balances are paid down/off.

[Anonymous]

Keep your heads up everyone as it won't be like this forever. The credit market will be back in full-force offering plenty of money to everyone that will ask for it. It's happened many times throughout our tumultuous history of capitalism. We just have a light cold or minor flu.

They will be handing out credit and credit line increases Willy-Nilly as soon as things settle down a bit. They can't help themselves. So just be patient you'll get that increase soon enough. I know this because i just applied for a UMB Platinum rewards card and was approved for 25k.

Yes I do have somewhat high credit scores but that's not the point. The point is I have 125k worth of unused credit available and I applied for this card "just because" and they still approved it. It's only a matter of time before it filters down to everyone else again.

IT'S HISTORY so keep your heads up as that increase will be forthcoming soon.

King

Message Edited by 74king on 06-22-2009 12:33 PM

[Anonymous]

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@score_building wrote:

i guess i'll wait for the year aniversary, perhaps then i'll be eligible for cli from discover.  they seem to be in cld mode if anything at the moment.

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Indeed. I heard many reports of people getting their limits slashed just last week.

[Anonymous]

So far, I have been fortunate enough to not get CLD'd.  Reminds me that Suzie Orman now says to only pay minimums until CCC figure themselves out.  Maybe as long as we hold a balance and constant activity they will leave us alone?