Learned today that you can put in CLI every 30 days! with DISCOVER

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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I understand for the point of this discussion it's taken as a given the getting the CL as high as possible is a good thing.   But....!  If over the course of several years your CL turns out to be $20K lower than it could have been, what exactly is the real loss....

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You answered your own question at the outset: considerably LESS of a "good thing". 

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The "But...!" indicated that I didn't agree with the premise.

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Ahhh, I see. Well then: WALDT

Or: you play your game & I'll play mine.

[Remedios]

Or, everyone could just play nice 

[FinStar]

It appears the conversation is veering off topic.

Also, just a friendly reminder to keep things Friendly, Supportive and Respectful.  Otherwise, this thread will be locked.

[Anonymous]

For my own part, I find trying for CLI's on a quarterly basis on either of my two Discover cards seems to yield the most concistently successful results, though I've never had an individual CLI larger than $500 (I might be misremembering, though; I think I once had a $800 CLI on my older Discover IT). That being said, I've grown my older card from $2,500 to $5,100 in about two years and my newer card from $5,000 to $6,500 in my first year. I recently got a raise so maybe I should give it another shot on each card soon.

[Anonymous]

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@Anonymous wrote:

I recently got a raise so maybe I should give it another shot on each card soon.

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Updated [greater] income information can only help CLI potential, so definitely go for it.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I recently got a raise so maybe I should give it another shot on each card soon.

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Updated [greater] income information can only help CLI potential, so definitely go for it.

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My March statement on my newer ($6.5k) Discover just posted, so I'll give it a shot. EDIT: No dice, but then I kind of expected that since I got my most recent CLI only a month or so ago. I'm actually expecting a cost-of-living raise as well in the near future, so I'll try again after the next statement once that's been factored in.

[Anonymous]

There doesn’t really seem to be any method to Disco’s madness. 

My income went from $35000 reported in March when they approved me for $7500 SL to $18000 reported in December when I asked for my first CLI due to some household changes and Discover bumped me from $7500 to $10500 and then in January they bumped me again to $11,200. 

Discover didnt even get a ton of spend from me because when I found myFICO, I went a bit crazy with the apps so I ended up having multiple SUBs to throw spend at last year. The highest reported balance is like $960 or something around there and I have PIF every month except for one IIRC. 

You would think they would have given me an auto CLI some time in the preceding 9 months if my much higher household income supported it versus almost a 50% cut when asking for a manual CLI. 🤷‍♂️ 

[Anonymous]

Perhaps like monthly spend, Discover cares less about income than other lenders as well. 

I agree that it's impossible to figure out how they work.  I do think that they're one of the worst in terms of taking on more risk for no reward, but evidently their business model is working out just fine for them regardless.

[Anonymous]

I haven’t really found lenders other than CUs and BBVA ($2K SL) to be income sensitive. Capital One doesn’t mind my low income ($8250 limit remained $8250 after the update), Disco gave my $3700 more credit, NFCU has extended me $15200 on the same income which started at $3K and then ballooned at 91/3, and Sync gave me $1800 on the Amazon Store Card and less than two weeks later an $8K SL on PayPal Cashback. 

PenFed wouldn’t approve me for $5K so I got denied on my PCR app and SSFCU approved me for the minimum $5K at the maximum 18% NCUA allows on my Power Cash Back WMC and DCU only gave me $1K at 13.75% on my Platinum and wouldn’t recon the amount because of my income and limits on other cards. 

I can almost guarantee if I was 5/24 eligible, Chase would approve me for the CSP once my BK falls. The CSR is likely too far out of reach since the word is Chase doesn’t like to extend more than half your income but the rest of their cards should be easily attainable. 

SSFCU will outright tell you that they like to see $50K income on their WMC cards and Alliant and PenFed want high income too. 

[Anonymous]

Surely there is some sort of negative to asking for a CLI every thirty days? Perhaps as credit seeking behavior, or just plain nagging. lol

Quarterly or even every six months should be sufficient. Given most CC typically give out auto CLIs annually.