Discover - keep it or cut it?

[kdm31091]

Why would you decline any CLI? I'm baffled. Anything is better than zero, right? If you decline, you get nothing. If you accept you get something, even if it's not the full amount you wanted. What's the downside?

Waiting in hopes of a "better" CLI isn't always fruitful. A lot of people think creditors give CLI regularly in exchange for time. That's not how it works. They give it to you if they feel it's warranted, period. The OP is a perfect example of someone who's had a card forever and no CLI because for whatever reason Discover doesn't want to give them more credit. The mentality of "after 6 months I'll get a 2x increase and then after 12 months my limit will go up to xyz" is dangerous because you are setting yourself up for disappointment if they don't give it to you (like I said, it is NOT a foregone conclusion that you will get xyz just because you've had a card x amount of time).

[NRB525]

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@disdreamin wrote:

I called and spoke to a representative about my Discover account - after have community members here recommend the It card and doing some reading up, it seemed like a good card to use for my everyday spending.  However, the credit limit I have with them is quite low and has never gone up in the ~5 years I've had the account open.  I am disinclined to begin using that card as - given the way revolvers work - it is quite possible for me to exceed my credit limit if I were to run too many expenses through the card and schedule my payment close to the due date (which is my typical MO).  

I inquired about a SP CLI to 2x my current CL and was offered a fraction (~30%) of what I asked for.  I declined the offer.  At this point, I am quite tempted to just drop Discover entirely.  I don't want to have a card in my wallet that I have to be overly careful with, and I'm not sure I have the patience to use the card lightly while waiting for Discover to decide I'm 'worthy' (in the trustworthy sense) of a higher CL.

FWIW, I tend to be a one-card-at-a-time person (okay, I have two I use right now, but one is mostly for auto-pays and seldom gets used otherwise) and I don't particularly want to juggle different cards for different spending categories.  Discover is my lowest CL by far (except for Target...that's lower, but given that I only use it at Target that one is real easy to keep in bounds for CL) - my next lowest CL is approximately 4x and the other few I have are higher still .  AAoA is showing as 20+ years, good FICO scores, no baddies, no new credit cards in the past ~3 years, one new auto loan last month, and a mortgage refi ~2 years ago.  

Am I being unreasonable to think that CLI was too conservative?  What would you suggest doing?

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I can't believe I'm posting on page three and no one has asked: What is the current credit limit on the existing Discover? Jeesh.

Until you use that existing Discover, Discover isn't going to think you really want the card, so don't expect any freebee or proposed/offered CLI. You need to use the card up to the limit, frequently, and for several months, to get their attention. Yes, it means you need to think about the cards in your wallet and maybe set aside some purchases for the Discover to chew on. Look at it as a growth opportunity in your financial exercise regimen

And, with Discover, if they offer you a 30% SP CLI, you should probably take it. Then use the card up to that new CL.

[Anonymous]

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@NRB525 wrote:

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@disdreamin wrote:

I called and spoke to a representative about my Discover account - after have community members here recommend the It card and doing some reading up, it seemed like a good card to use for my everyday spending.  However, the credit limit I have with them is quite low and has never gone up in the ~5 years I've had the account open.  I am disinclined to begin using that card as - given the way revolvers work - it is quite possible for me to exceed my credit limit if I were to run too many expenses through the card and schedule my payment close to the due date (which is my typical MO).  

I inquired about a SP CLI to 2x my current CL and was offered a fraction (~30%) of what I asked for.  I declined the offer.  At this point, I am quite tempted to just drop Discover entirely.  I don't want to have a card in my wallet that I have to be overly careful with, and I'm not sure I have the patience to use the card lightly while waiting for Discover to decide I'm 'worthy' (in the trustworthy sense) of a higher CL.

FWIW, I tend to be a one-card-at-a-time person (okay, I have two I use right now, but one is mostly for auto-pays and seldom gets used otherwise) and I don't particularly want to juggle different cards for different spending categories.  Discover is my lowest CL by far (except for Target...that's lower, but given that I only use it at Target that one is real easy to keep in bounds for CL) - my next lowest CL is approximately 4x and the other few I have are higher still .  AAoA is showing as 20+ years, good FICO scores, no baddies, no new credit cards in the past ~3 years, one new auto loan last month, and a mortgage refi ~2 years ago.  

Am I being unreasonable to think that CLI was too conservative?  What would you suggest doing?

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I can't believe I'm posting on page three and no one has asked: What is the current credit limit on the existing Discover? Jeesh.

Until you use that existing Discover, Discover isn't going to think you really want the card, so don't expect any freebee or proposed/offered CLI. You need to use the card up to the limit, frequently, and for several months, to get their attention. Yes, it means you need to think about the cards in your wallet and maybe set aside some purchases for the Discover to chew on. Look at it as a growth opportunity in your financial exercise regimen

And, with Discover, if they offer you a 30% SP CLI, you should probably take it. Then use the card up to that new CL.

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WOW! Don't quit ... your on a roll!

[NRB525]

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@ArmyVietVet wrote:

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@NRB525 wrote:

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@disdreamin wrote:

I called and spoke to a representative about my Discover account - after have community members here recommend the It card and doing some reading up, it seemed like a good card to use for my everyday spending.  However, the credit limit I have with them is quite low and has never gone up in the ~5 years I've had the account open.  I am disinclined to begin using that card as - given the way revolvers work - it is quite possible for me to exceed my credit limit if I were to run too many expenses through the card and schedule my payment close to the due date (which is my typical MO).  

I inquired about a SP CLI to 2x my current CL and was offered a fraction (~30%) of what I asked for.  I declined the offer.  At this point, I am quite tempted to just drop Discover entirely.  I don't want to have a card in my wallet that I have to be overly careful with, and I'm not sure I have the patience to use the card lightly while waiting for Discover to decide I'm 'worthy' (in the trustworthy sense) of a higher CL.

FWIW, I tend to be a one-card-at-a-time person (okay, I have two I use right now, but one is mostly for auto-pays and seldom gets used otherwise) and I don't particularly want to juggle different cards for different spending categories.  Discover is my lowest CL by far (except for Target...that's lower, but given that I only use it at Target that one is real easy to keep in bounds for CL) - my next lowest CL is approximately 4x and the other few I have are higher still .  AAoA is showing as 20+ years, good FICO scores, no baddies, no new credit cards in the past ~3 years, one new auto loan last month, and a mortgage refi ~2 years ago.  

Am I being unreasonable to think that CLI was too conservative?  What would you suggest doing?

---

I can't believe I'm posting on page three and no one has asked: What is the current credit limit on the existing Discover? Jeesh.

Until you use that existing Discover, Discover isn't going to think you really want the card, so don't expect any freebee or proposed/offered CLI. You need to use the card up to the limit, frequently, and for several months, to get their attention. Yes, it means you need to think about the cards in your wallet and maybe set aside some purchases for the Discover to chew on. Look at it as a growth opportunity in your financial exercise regimen

And, with Discover, if they offer you a 30% SP CLI, you should probably take it. Then use the card up to that new CL.

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WOW! Don't quit ... your on a roll!

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Do you know the answer?

[taxi818]

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@lg8302ch wrote:

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@taxi818 wrote:

I know you guys read that op,has had his card for 5 years already right. Still no movement. 

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Could be because it is still the Discover More?? PC to the IT and keep using the card and try every 3 months to CLI. But OP declined a CLI because it was only 30% of what he requested... bad move.. accept any amount and go from there 3 months later.

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I agree accept whatever they offer. To keep the clis coming. I got 500 cli in November. Even hp. I wanted 3k. But I said ok. Whatever. Csr even said your report looks great. But you don't have experience with high limits. I said whatever. 2 weeks later. Amex gives me 10k. 

[Anonymous]

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@NRB525 wrote:

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@disdreamin wrote:

I called and spoke to a representative about my Discover account - after have community members here recommend the It card and doing some reading up, it seemed like a good card to use for my everyday spending.  However, the credit limit I have with them is quite low and has never gone up in the ~5 years I've had the account open.  I am disinclined to begin using that card as - given the way revolvers work - it is quite possible for me to exceed my credit limit if I were to run too many expenses through the card and schedule my payment close to the due date (which is my typical MO).  

I inquired about a SP CLI to 2x my current CL and was offered a fraction (~30%) of what I asked for.  I declined the offer.  At this point, I am quite tempted to just drop Discover entirely.  I don't want to have a card in my wallet that I have to be overly careful with, and I'm not sure I have the patience to use the card lightly while waiting for Discover to decide I'm 'worthy' (in the trustworthy sense) of a higher CL.

FWIW, I tend to be a one-card-at-a-time person (okay, I have two I use right now, but one is mostly for auto-pays and seldom gets used otherwise) and I don't particularly want to juggle different cards for different spending categories.  Discover is my lowest CL by far (except for Target...that's lower, but given that I only use it at Target that one is real easy to keep in bounds for CL) - my next lowest CL is approximately 4x and the other few I have are higher still .  AAoA is showing as 20+ years, good FICO scores, no baddies, no new credit cards in the past ~3 years, one new auto loan last month, and a mortgage refi ~2 years ago.  

Am I being unreasonable to think that CLI was too conservative?  What would you suggest doing?

---

I can't believe I'm posting on page three and no one has asked: What is the current credit limit on the existing Discover? Jeesh.

Until you use that existing Discover, Discover isn't going to think you really want the card, so don't expect any freebee or proposed/offered CLI. You need to use the card up to the limit, frequently, and for several months, to get their attention. Yes, it means you need to think about the cards in your wallet and maybe set aside some purchases for the Discover to chew on. Look at it as a growth opportunity in your financial exercise regimen

And, with Discover, if they offer you a 30% SP CLI, you should probably take it. Then use the card up to that new CL.

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+1 ^

I've said it before in other posts on this same topic. If you want decent CLI's from this company you have to use the card. You haven't mentioned your current CL but I would keep the card for all the other reasons mentioned since you posted. Plus, if you need an extra $20 or more when you make a purchase in person, it just goes down as part of the purchase and not a cash advance. 

[DiabolicallyRandom]

Im going to go against popular opinion. If the card simply doesnt work for you and your not interested in playing games of appeasement, close it. Discover isnt a crucial card to have.  How often do you encounter a merchant that only accepts Discover? Its not going to effect your AAOA. Maybe you havent earned their loyalty, but, you dont have to. That being said, I also received an increase from them that could be deemed insulting via HP, but I am going to hold on to the card for a bit longer and see if it works out. I am also not going to make several payments a month just use it more often. I am only willing to use it within the limit they set. You have to do what feels right for you. 

[Anonymous]

there is no reason what so ever to cut it up.  you'll eventually get the limits you desire by practicing good spending habits.

[DiabolicallyRandom]

Im half way of the belief that Discover tends to be a conservative lender because their one card doesnt warrant excessive spend.  You have capped rotating categories that would require MF spending in order really capitalize on the half of them.  The others are in place to bait unaware spenders in to carrying a balance, negating actual rewards. As it is you have to spend very consciously in order to reap the benefits and thats mostly going to be through shop discover.  Im not so certain that they are really even after all of your spend the way other other lenders are. Its not even really like the Freedom, it doesnt have a card that makes a great companion.

[disdreamin]

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@kdm31091 wrote:

Why would you decline any CLI? I'm baffled. Anything is better than zero, right? If you decline, you get nothing. If you accept you get something, even if it's not the full amount you wanted. What's the downside?

Waiting in hopes of a "better" CLI isn't always fruitful. A lot of people think creditors give CLI regularly in exchange for time. That's not how it works. They give it to you if they feel it's warranted, period. The OP is a perfect example of someone who's had a card forever and no CLI because for whatever reason Discover doesn't want to give them more credit. The mentality of "after 6 months I'll get a 2x increase and then after 12 months my limit will go up to xyz" is dangerous because you are setting yourself up for disappointment if they don't give it to you (like I said, it is NOT a foregone conclusion that you will get xyz just because you've had a card x amount of time).

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I didn't turn down the CLI exactly - the CSR asked if I wanted to withdraw my request and I said yes.  I wanted time to think about possibly changing the card over to the It card, and how much a CL would need to be to really work for me.  I was told that I can always call again and do another CLI request, according to the person I spoke with.  

As far as my mentality, my Discover card CL has been the same the entire time I've had the card - it is $4K.  What Discover is seeing that makes them unwilling to grant me the CLI I requested, I couldn't say.  It is unlikely that their reluctance is due to my FICO scores, my credit history, my income, or anything else I'd typically say companies based decisions like this on.  Clearly they've got their reasons, but I fail to comprehend what they are.