No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
My last increase was about this time in April, a 3k increase, now sitting at 21k. I've got the largest balance i've had yet on Discover right now, statement just cut with ~2500. Wondering if any folks have datapoints about getting increases with a balance, if it seems to impact Discover at all. Thanks!
Some say it does, some say it doesn't. I've always been of the opinion that having the smallest balance possible (preferably 0 after heavy usage) when requesting a CLI is the best way to go. IMO, having a lower balance certainly can't "hurt" your CLI result, where having a larger balance either may or may not hurt the result.
Data points....
Recently tried to help my Mother in law. Her Discover was sitting @ 9k BL with a 14.4k limit. I tried to get her a increase. Came back with 5k. So... Not to bad with having suck a high BL.
Very true, not bad at all. What I would love to know is if that balance was significantly lower (or none at all) if that $5k would have been greater. Unfortunately it's nearly impossible to ever test this out as one would need to request a CLI, get it, then deny it or CLD it back to what it was... then dramatically change utilization and re-request a CLI and see the difference. Of course, during this time other things could go on that change the profile and/or variables that go into the CLI decision.
It's absolutely fine.
I had 37% util on my card (22% overall) and requested an increase on Sunday (my first time ever asking), they increased my credit limit by 75%.
Other times they have given me auto increases with my util on that card at over 90% (~50% overall).
My profile is thin and they seem to like being my highest limit card. Works for me.
When carrying a balance i have never been able to get a increase more than $500 every 91 days. If it was even offered at all.
As soon as my 0% intro period was over i paid it in full and was able to get a 1500 CLI
The next statement i ran 4k total charges and paid in full and was able to get a 3000 CLI.
What i have seen with discover is that they are literally all over the place with different people/profiles. Lately ive been getting CLI every 31 days with the two day review. For two statements in a row.
What is the greatest CLI anyone has received (or heard of someone receiving) as their first CLI (91 days or so) after getting their Discover card? I'd imagine not many have received the 3X CLI that Amex has provided to many, but am curious what the highest numbers have been.
@Anonymous wrote:What is the greatest CLI anyone has received (or heard of someone receiving) as their first CLI (91 days or so) after getting their Discover card? I'd imagine not many have received the 3X CLI that Amex has provided to many, but am curious what the highest numbers have been.
Not necessarily the first CLI, but the largest at one time I've seen Discover give, reported on here I believe, is $6500. Maybe rather than giving you one giant bump early on they decided it was better to do gradual, smaller increases, in some cases as low as $500.
Gotcha. I'm hoping for at least 20% for my first (91+ day) CLI with Discover. Anything above that IMO would be a huge win.
@barthooper wrote:My last increase was about this time in April, a 3k increase, now sitting at 21k. I've got the largest balance i've had yet on Discover right now, statement just cut with ~2500. Wondering if any folks have datapoints about getting increases with a balance, if it seems to impact Discover at all.
Data points won't mean much if you're only considering balance on the account itself. Odds are probably better with lower revolving utilization on the one account but that's just one consideration among many in one's credit profile that any creditor will consider for a CLI. If your profile isn't strong in other areas then you may want to reduce that balance. If you have a very strong profile then it might not have as much impact. Worst case you can request another CLI down the road.
2,500 / 21K is 11%.
I got a nearly 5K CLI while carrying a balance about that size on an intro offer with Discover. Again, though, YMMV depending on the shape of your credit profile. If you're at 21K I'd guess that you probably have pretty good profile.