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Need HELP Quick!!!

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nvrgvupnvrsrndr
Contributor

Need HELP Quick!!!

I applied for Discover it card and was approved but with terrible initial CL. On my recent app spree I was approved on all apps except AMEX BCE. All starting CL's were $5k plus. I'm sure it has everything to do with the number of recent inquiries/trade lines but Discover only gave me an initial CL of $1,000. My question is do I accept. I've already had the hard pull but comparatively this a low CL.

Is it better to not show a new trade line for fear of spooking the other new creditors I've received credit cards from?
Is it better to eat the hard pull and not start with such a low CL?

The whole reason I even app'd with Discover is due to reading about their good initial CL's. I realize I've pushed the envelope here and it's time to quit but had already app'd the same night I was approved for my new Citi TYP. I called Discover today and they said the offer is still good but I would need to accept soon or the offer would be pulled and I'd run the risk of a hard pull again and I'd need to re-apply. Following is the revolver tradelines I already have reporting:

Cap1 $2.5k
Cap1 $2.5k
Cap1 $1.5k
Kohls $1k
PayPal SC $5k
Walmart $2k
Barclays $2.5k
Chase Freedom $5k
Chase Sapphire $5k
FNBO AMEX $6k
Citi TYP $6.5k
AMEX PRG-NPSL(charge)

Anyway, what would you do?
Message 1 of 22
21 REPLIES 21
asphaltcowboy
Valued Contributor

Re: Need HELP Quick!!!

I would take it, no sense in wasting a hard pull for nothing, have seen may report this starting CL

and get auto CLI's.  Best of luck


Starting Score TU 667 EQ 663 EX 655
Current Score TU 778 EQ 776 EX 781 Last Update 4/2016
Garden Club 04/10/2013
Message 2 of 22
shakalaka
Established Contributor

Re: Need HELP Quick!!!

Congrats

Hop over to the garden and stay ... They will grow with you. Time is your friend.


FICO (TU/EX/EQ): 773/766/778 - Total CL 255+K
Message 3 of 22
nvrgvupnvrsrndr
Contributor

Re: Need HELP Quick!!!

Thanks for the input. Will such a low starting CL be viewed by future creditors negatively? In other words, will they look at my most recent trade line with such a low starting CL and think to themselves...hummmm.... Discover only gave him a $1k initial CL maybe we should keep it low as well?
Message 4 of 22
nvrgvupnvrsrndr
Contributor

Re: Need HELP Quick!!!

Any other input regarding my thought process/concerns here?
Message 5 of 22
swpopham
Established Contributor

Re: Need HELP Quick!!!

I think there is a good chance barclays will can you shortly
"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 6 of 22
nvrgvupnvrsrndr
Contributor

Re: Need HELP Quick!!!

Why would Barclay's pull the plug? They just gave me a CLI 3 months ago from $1,430 to $2.5k.
Message 7 of 22
swpopham
Established Contributor

Re: Need HELP Quick!!!

They are new account/inq sensitive from what's been reported here. Id take the discover they are way bettet then cap 1
"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 8 of 22
nvrgvupnvrsrndr
Contributor

Re: Need HELP Quick!!!

So the general consensus here is I should accept their offer with an initial CL of $1k? I'd like to here from a few more of you credit gurus before I decide which wat to go here.
Message 9 of 22
Anonymous
Not applicable

Re: Need HELP Quick!!!

I agree, BARCLAY will probably close that account soon. I would take the credit card and let it sit and age and use it moderately and hope for a CLI. Like the previous poster said, why waste the hard pull. You may need the CL to replace the one you may soon get closed.

Message 10 of 22
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