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How does discover like clean aged thick files?

BrutalBodyShots
Super Contributor

Re: How does discover like clean aged thick files?

Well, here's my take.  Certainly a clean file is preferred to a dirty one.  As for aged/thick, both of these factors need to be looked at individually, as they're quite different.  In fact, in the eyes of Discover IMO, very different.  "Aged" is a positive factor.  More credit history is a good thing and I don't see Discover shying away from someone with an aged file.  BM, you referenced my post from 2016.  Around that time or maybe 2017 I posted about my father obtaining a Discover card and his SL was ~$10k if I recall correctly.  He had an AoOA of around 50 years at the time and an AAoA in the double-digits, so yeah, an aged file.

 

Thickness I believe is the factor that should be examined a bit here, but I'd even break that down into "revolver thickness" if there's such a thing.  What I mean by that is how many revolvers one has, how old they are, what their limits are, etc.  My father while he had a very thick/aged file only had a couple of revolvers and they didn't have high limits as he never requested a CLI in his life and used them very little, as he used cash/checks for most everything.  He still had plenty of accounts on his CR, so a thick file no doubt, just not a lot of revolvers.  From that angle, I believe that Discover saw value and an opportunity in taking on his profile.  As others have mentioned above, Discover likes to be your Number 1, so if they see an opportunity for that I believe many times they'll act accordingly.  It just so happens that thin/young files quite often present the opportunity for Discover to be Number 1, so we often hear about thin/young files reporting success with their Discover approvals.

 

Like my father, I too had a relatively aged (say 15 year AoOA / 6 year AAoA) file that was thick with maybe 15 accounts, while having very limited "revolver thickness."  At the time I was approved for Discover (SL $12,500) my highest [only] revolver sat at $3k; crappy Capital One Platinum.  

 

So in conclusion, I think one of the biggest considerations Discover has when looking at a profile is whether or not they see an opportunity to be Number 1 in any given wallet. 

Message 21 of 39
Birdman7
Super Contributor

Re: How does discover like clean aged thick files?

BBS Thank you for the explanation. I tend to agree and I am happy to receive the confirmation (from everyone).Well, not really, because I’ve got a thick file and I doubt they’ll feel like they’re number one or can be. They sure won’t be, if they give me a small SL.

But they have been courting me for a while. They denied me during last year‘s spree, but they were at the end of it, so it’s understood. I was thinking about picking up a couple more and then going to The Garden but I could leave it alone and go now.

Since my AoYA awards and the loan hitting and the inquiries aging off, my scores are pretty decent, probably the best they’ve been in a while. Most of my life I didn’t monitor, so I don’t really know what it was in the past. But since I’ve been hanging out with you guys, I’ve got addicted to the game it’s all yalls fault, LOL! 😂
-Scoring wisdom: General Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
CassieCard’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 22 of 39
Obscure-Expert
Valued Contributor

Re: How does discover like clean aged thick files?


@Birdman7 wrote:
So y’all think I should take the reservation for 15%? Isn’t there a way to try to get 14? I think my scores justify it now. They were pulling it before my recent awards, so it’s much higher now.


Just apply, get approved, and after the 0% expires ask for an APR reduction.

 

Plenty of DP's showing this works well.  I don't even remember what they started me off at but, currently sitting at 14.24%.

 

Also, you can get $75 if you apply through Amazon for the Miles version which is 3% for the first year w/ the match and then you can PC or apply for a 2nd card and combine the limits at that point.  Disco It through Amazon same offer.

 

 

500K+ TCL / 800+ FCOs
Message 23 of 39
Obscure-Expert
Valued Contributor

Re: How does discover like clean aged thick files?


@ChargedUp wrote:

I think the highest Discover SL I've seen on here was $15K or $18K.  From personal experience, I know Discover loves sitting in the daily driver seat and lots of use along with a solid file should allow your CL to grow quite rapidly. 

 

I can't remember who, but I know there's someone here with a Disco CL in the $60K -$70K neighborhood, so we know Discover *can* give out some very generous limits.


https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Another-Discover-CLI/m-p/5368039  73K+

500K+ TCL / 800+ FCOs
Message 24 of 39
jamesdwi
Valued Contributor

Re: How does discover like clean aged thick files?

My starting credit limit was 6.5k,   i'm sure my AAoA was less than 2 years, nearly a clean report if not completely clean. At least a dozen cards, not a thin file even back then.  Fast forward to  8/16/2016 I documented i was given a  3.5k CLI to 15.5k, then a string of 500 CLI,  4/2019 i was given a 5k CLI to 23,500.  This morning I requested another CLI and was given a 7k CLI to 30,500 CL, my second highest limit.  40+ accounts,  two loans, sub 4% UTL, good inome. 


TL;DR  In 6 years I went from a 6.5k  starting limit to  30.5k  Credit limit.  Starting limit may or may not be great but they will deffinetely grow with you. 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 25 of 39
BrutalBodyShots
Super Contributor

Re: How does discover like clean aged thick files?


@jamesdwi wrote:

Starting limit may or may not be great but they will deffinetely grow with you. 


I wouldn't say definitely, as there are plenty of members on this forum that have reported little to no growth on their Discover card over a length of time.  We all hope for the best though of course.

Message 26 of 39
arkane
Established Contributor

Re: How does discover like clean aged thick files?


@BrutalBodyShots wrote:

@jamesdwi wrote:

Starting limit may or may not be great but they will deffinetely grow with you. 


I wouldn't say definitely, as there are plenty of members on this forum that have reported little to no growth on their Discover card over a length of time.  We all hope for the best though of course.


*raises hand*

 

21 months in, limit went from 2500 to 5000 after 3 CLIs, then stuck at 5000 for 10 months. Finally gave me another 300 (lol) which bumped to 700 after calling in to double dip, and I strongly suspect this was more to do with a significantly increased income more than anything else.

 

Suffice to say they're last in line, and won't ever see a single non-5% swipe. 

Active:

Closed:


6/8/20:

Message 27 of 39
Birdman7
Super Contributor

Re: How does discover like clean aged thick files?

OE thank you, I wonder if I should go for that or take the reservation. They offered 15%, but if I do Amazon, I may get better.
-Scoring wisdom: General Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
CassieCard’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 28 of 39
BrutalBodyShots
Super Contributor

Re: How does discover like clean aged thick files?


@arkane wrote:

21 months in, limit went from 2500 to 5000 after 3 CLIs, then stuck at 5000 for 10 months. Finally gave me another 300 (lol) which bumped to 700 after calling in to double dip, and I strongly suspect this was more to do with a significantly increased income more than anything else.

 

Suffice to say they're last in line, and won't ever see a single non-5% swipe. 


I get that completely.  You never know, maybe some "tough love" for them will stimulate a larger CLI at some point.

Message 29 of 39
Birdman7
Super Contributor

Re: How does discover like clean aged thick files?

One more quick question. When you apply and get approved instantly through Discover, do they give you your number so you can go ahead and start making purchases?

So if I do this thing through Amazon I can go ahead and make a purchase cause I want to make a purchase today and that’ll fulfill the spend.
-Scoring wisdom: General Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
CassieCard’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 30 of 39
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