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Re-allocating credit limit from one Discover to another

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dlister70
Frequent Contributor

Re-allocating credit limit from one Discover to another

I have two Discover It cards, and one of them is still in it's cashback bonus year.  I recently had to hire a roofer and I put the charges on the Discover card so that I'd get 2% back on it.  However, that nearly maxed out that card, so I wanted to re-allocate credit limit from my other Discover card so that I could bring down the utilization on the maxed out card.  The newer card is $8000, and the older card is $11,500 and currently doesn't have any balance on it because I've been using the newer card with the cashback bonus still active.

 

I have read on this forum before that this is possible, but I couldn't find the original thread that I read it in.  I remembered that in order to make this happen, you have to have a CLI available on one of the accounts.  Today I checked the website for a CLI and saw that I was approved for a $3000 increase on the newer card.  I hit cancel and did not accept the CLI because I believe that would have screwed up the re-allocation.

 

I called 1-800-Discover and explained that I wanted to shift $5000 of available credit from my old card to my new card and to take the CLI on the new card.  They said that this wasn't possible, but did offer me the $3000 CLI again.  I asked if they could check with a CLI specialist (I'm not sure if that's even a term!) and they put me on hold for a bit, and came back and said that they would transfer me to another department and that it did look like it was possible afterall.

 

I was transferred to another department, explained the situation again (it's helpful to have your card numbers handy as we kept referring back and forth between the cards by using the last 4 digits).  This time I was placed on hold again, and they came back and verified what my credit limits would be on each card after completing the re-allocation.  I agreed, and it was finalized!

 

So now instead of $7600/$8000 on that card, it's $7600/$16000 and I'm just under one of the scoring thresholds of 48.9%.  The old card went down to a limit of $6500, but I haven't been using it anyway.  Once the cashback match year is up, I may put the limit back on the older card and close the newer card.  But in the meantime, I've got like 8 months left of 0% interest to pay down my new roof and hopefully the re-allocation of credit line helps lessen the blow to my credit score.

 



Message 1 of 12
11 REPLIES 11
xaximus
Valued Contributor

Re: Re-allocating credit limit from one Discover to another

Discover is known to do re-allocations as long as a CLI is available. Glad it worked out for you!


Scores - All bureaus 770 +
TCL - Est. $410K
Message 2 of 12
Shooting-For-800
Senior Contributor

Re: Re-allocating credit limit from one Discover to another

I wish I would have done that instead of received a $500 cli.

 

Good job!

 

Did you check for CLI after?  

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 3 of 12
dlister70
Frequent Contributor

Re: Re-allocating credit limit from one Discover to another


@Shooting-For-800 wrote:

 

 

Did you check for CLI after?  


Good thinking, I forgot to try the double dip!  But I just checked, and there was no CLI available now.  

 

However, I'm still happy with changing from 95% utilization to 47.5% on that card just by shuffling around limits and getting a CLI.  



Message 4 of 12
CreditInspired
Community Leader
Super Contributor

Re: Re-allocating credit limit from one Discover to another


@dlister70 wrote:

I have two Discover It cards, and one of them is still in it's cashback bonus year.  I recently had to hire a roofer and I put the charges on the Discover card so that I'd get 2% back on it.  However, that nearly maxed out that card, so I wanted to re-allocate credit limit from my other Discover card so that I could bring down the utilization on the maxed out card.  The newer card is $8000, and the older card is $11,500 and currently doesn't have any balance on it because I've been using the newer card with the cashback bonus still active.

 

I have read on this forum before that this is possible, but I couldn't find the original thread that I read it in.  I remembered that in order to make this happen, you have to have a CLI available on one of the accounts.  Today I checked the website for a CLI and saw that I was approved for a $3000 increase on the newer card.  I hit cancel and did not accept the CLI because I believe that would have screwed up the re-allocation.

 

I called 1-800-Discover and explained that I wanted to shift $5000 of available credit from my old card to my new card and to take the CLI on the new card.  They said that this wasn't possible, but did offer me the $3000 CLI again.  I asked if they could check with a CLI specialist (I'm not sure if that's even a term!) and they put me on hold for a bit, and came back and said that they would transfer me to another department and that it did look like it was possible afterall.

 

I was transferred to another department, explained the situation again (it's helpful to have your card numbers handy as we kept referring back and forth between the cards by using the last 4 digits).  This time I was placed on hold again, and they came back and verified what my credit limits would be on each card after completing the re-allocation.  I agreed, and it was finalized!

 

So now instead of $7600/$8000 on that card, it's $7600/$16000 and I'm just under one of the scoring thresholds of 48.9%.  The old card went down to a limit of $6500, but I haven't been using it anyway.  Once the cashback match year is up, I may put the limit back on the older card and close the newer card.  But in the meantime, I've got like 8 months left of 0% interest to pay down my new roof and hopefully the re-allocation of credit line helps lessen the blow to my credit score.

 


Superbly executed. Kudos to you!


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 5 of 12
Dave4fun
Regular Contributor

Re: Re-allocating credit limit from one Discover to another

Nice work and Congratualtions! 

FICO 8 EQ: 841, TU: 842, EX: 842 Total Rev CL: $547,000 - CHASE/CITIBANK/DISCOVER/ USBANK/AMEX/COMENITY AMEX /BMO/NORDSTROM/MACYS/FNBO/ JCPENNY/TARGET/CHEVRON/1ST UNITED CU/PATELCO CU/SYNCHRONY/ VENMO VISA Sig/ DILLARDS AMEX/ PENFED PLAT REWARDS/PENFED PLOC/WELLS FARGO. AAoA 13 years
Message 6 of 12
AverageJoesCredit
Legendary Contributor

Re: Re-allocating credit limit from one Discover to another

Most impressive of this story is you getting offered a Joltdude SpecialSmiley Wink. I wonder what it feels like to get 3k Discover cli😏
Message 7 of 12
Shooting-For-800
Senior Contributor

Re: Re-allocating credit limit from one Discover to another


@AverageJoesCredit wrote:
Most impressive of this story is you getting offered a Joltdude SpecialSmiley Wink. I wonder what it feels like to get 3k Discover cli😏

It feels better than applying for a NFCU credit card...Smiley Wink

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 8 of 12
AverageJoesCredit
Legendary Contributor

Re: Re-allocating credit limit from one Discover to another

Lol, i betSmiley Wink
Message 9 of 12
mikesonthemend
Valued Contributor

Re: Re-allocating credit limit from one Discover to another

Bam!Bam!

Well done!




Living through Darwinism is so much worse than learning about about it in school.
Message 10 of 12
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