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@Jonbuck06 wrote:Hey everyone I have a Discover IT with a $4,000 Credit Limit and I was just curious what everyone elses limit is with them? Whats the highest limit they give out?
Started at $1000, and I'm now at $4250. I've had the card since August 2013.
Was just approved at beginning of March with initial CL set at $9K.
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Starting Scores:
Low 500's
Current Scores:
Equifax: 697
TransUnion: 660
Experian: 652
Goals:
725-750
Wallet:
Capitol One/Quicksilver: $14.5K
Compass BBVA: $9K (Currently secured, but will convert to unsecured in a few more months)
Discover It: $9K
Target: $1K
I just applied and got a $15k CL, much higher than any of my other cards.
My card was 3 months on the 7th with a $500 limit. Paid it off last week and went for the cli and on the screen popped up "sorry we cannot grant a limit increase at this time".
Well with a $5000 limit Am Ex, and au cards which I control with $2000 and $3750, Discover card is going in the sock drawer. I don't expect the world they did give me my first card in my name, but could have at least given me a $300 increase.
This limit is WORTHLESS!!!
I am at $9.5K, they keep asking for a HP everythime I request a CLI and I keep saying NO. I have been with Discover for 2 Years
2013 first year with Discover It
Feb: Discover was one of my original unsecured cards. They started me at $2000.
Jul: I had to accept a HP if I wanted a CLI. They increased my limit to $3000.
Nov: I had to accept a HP if I wanted a CLI. They increased my limit to $5000.
2014 second year with Discover It
May: Using automated phone system, I was finally offered a SP CLI. Limit now $6000
Sep: Using computer, requested $1500. Granted via SP. Limit now $7500
Dec: Using automated phone system, SP increase of $1000. Limit now $8500
My experience was HP required first year, SP available after that. Was it worth it to use the HP? Yes. HP only affect your FICO scores for a year. 2013 saw a 150% increase due to HP CLI, whereas 2nd year saw 70% increase. And I never wish that I had used fewer HP during 2013 so that i could now brag, or something. You get to use a certain number of HP each year, but you don't get to hoard them for the future. Could I have used the HP to obtain more cards? Well, look at the first image, I DID obtain good cards.
I feel using HP to gain credit limit is all a part of your strategy. Some cards you can get HP via SP, so that should also be a part of your strategy, so that you can strategically use a few HP for the other cards that may need it. And don't do app sprees too close together, the more you hurt your initial credit limits, the more HP you may need to bring them back up, whereas if you had waited a few months you might have started much higher.
That average spend line is about $200, and its that high due to that large 4th quarter 2014 spending ( I threw the rent and such on the card). Note that in 2014 BEFORE the 4th quarter spending, i didn't do much more than spend enough to keep the free FICO scores coming yet as I stated I had 3 SP CLI requests granted. yes, you need to use the card, but you certainly don't need to overuse it, in order to qualify for a credit increase. Just use it a lot in quarters that you find the 5% useful, and use it a tad bit otherwise, keep your FICO score up, and you'll do fine. Just have patience.
$10k was the intial balance December 2014.
My only current cards at the time were a secured Capital One at $200 and an unsecured at $500.00 and a Kays card $1500 (0% UTI) Had 85% UTI at the time of applying. I had 3 charged offs from 2009/2010; All were paid. Had a closed auto loan and 3 closed installment loans with perfect history. I was very suprised that my intial CL was so high.
Reported FICO at the time was 670.
Starting Limit: 1500k in 2011
Current Limit: 1500K
No luv for me
3500 had card 7 months
Started $1000 in 3 years ago.
Still $1000 now.
This is my lowest CL. I called them several times and hit the luv button several times. They want to HP. I said NO.
I don't use it anymore until they raise it.