@lg8302ch wrote:Patience, patience, patience.... I had to wait 18 months for my first CLI with Discover.
Just use your card, PIF and after each statement try for a CLI.....one day you will get there as well. Remember credit is a marathon and not a race
+1
@dk2003 wrote:Oh my... I am ALMOST overwhelmed by the responses... perhaps I was not clear here.
I am completely aware that Discover is not obligated to do anything. There was a time that I wasn't able to get any cards, not because I had bad credit but because I had none. I have some 45k in available credit and THIS card just happens to be my lowest. With BOA, I had a previous relationship with them that ended badly, and I was a part of the class action law suit.
My profile.....
I generally carry action balance, and either PIF or pay half of it and then the other half before the next statement. As of late that has not been the case, I've carried a balance on all cards and will have them all paid within 2 months.
I did have several derogs, on EQ, that have since all been deleted. In fact, I didn't even know what they were and disputed several times. As of a few days ago, EQ is clean.
Oldest line 10 years
As far as increase upon opening... The information in THIS post is incorrect. My mom received an increase as soon as her card was activated
Unfortunately, my experience has not been all bubbles and flowers as many others have been, namely the ones that regularly receive increases. There has been minimal use on the card utility recently (2 months) so perhaps things will change. If not, I have no reason to close the card other than the low limit. It will just become one that is used just to keep them from closing it! Thanks for the input
Don't feel bad. Discover hasn't been generous with me either. I did a BT so it has activity. Hopefully, it will help. Best of luck!
@dk2003 wrote:
I've had my card for a nearly a year (april). I've requested an increase twice (sl 500) because I've seen all of the luv that everybody else has raved about. Well that has not been the vm case for me! I received a BOA 99/500 around the same time and since then, that card has auto unsecured, I've received my deposit and there was an auto cli 2000. Discover, on the other hand, has been awful.
The relationship started out bad. When I received the card I tried to recon and after several back and forth emails I was told that if I replied any more on that matter that the email would go unanswered... YES, THEY ACTUALLY TOLD ME THAT!!!! and here we are a year later and still nothing... Should I write the EO? Help!!!!
Lol? You sound like you should be entitled to credit.... It is a luxury and they deem that you're not worthy to have a higher credit limit. And Yes I would go tell you the same thing if you wanted to harp on one app....
@takeshi74 wrote:
@dk2003 wrote:
I've had my card for a nearly a year (april). I've requested an increase twice (sl 500) because I've seen all of the luv that everybody else has raved about. Well that has not been the vm case for me!You cannot simply assume that if others get a CLI with a given creditor/product that you will as well. CLI's are determined based on what one's credit profile and income qualify for. Everyone's credit is not the same. Those who get a CLI have qualified for it. If you're not getting one then your credit profile does not meet the creditor/product's underwriting critiera and you need to work on determining why that is and get to work on addressing the issue(s).
Your $500 CL is an indicator that there were concerns with your credit when approved. Have you looked your denial letters to use as a starting point?
@dk2003 wrote:
I received a BOA 99/500 around the same time and since then, that card has auto unsecured, I've received my deposit and there was an auto cli 2000.You also cannot assume that different creditors/products should be the same in this regard. Different creditors and products have different underwriting requirements. It's certainly possible to get a CLI with one creditor/product and not with another. Again, you need to understand DIscover's concerns with your credit and work on addressing those issues.
If you're willing to disclose more about your credit profile we can certainly offer recommendations if you're not able to assess your own reports. You'll eventually want to be able to do so as you need to have an understanding of where you stand and how you can improve for the long term.
@dk2003 wrote:I generally carry action balance, and either PIF or pay half of it and then the other half before the next statement. As of late that has not been the case, I've carried a balance on all cards and will have them all paid within 2 months.
What your revolving utilization? Overall and individual. That has a significant impact and falls under Amounts Owed which is the second biggest factor for FICO scoring.
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
@dk2003 wrote:I did have several derogs, on EQ, that have since all been deleted. In fact, I didn't even know what they were and disputed several times. As of a few days ago, EQ is clean.
Derogs tend to have singificant impact (can Kill Payment History) and hold one down as long as they are reporting. Does Discover actually pull EQ for you? I think they pull TU for me. How are all of your reports? If you had derogs and high utilization those could have easily been why you have a low starting limit and never saw CLI's , however, other factors could have been contrbuting as well.
@dk2003 wrote:Oldest line 10 years
Sounds good but AAoA is really more important.
What sort of recent credit seeking activity have you had? How many new accounts and how old are they? People frequently overlook this.
@dk2003 wrote:Unfortunately, my experience has not been all bubbles and flowers as many others have been, namely the ones that regularly receive increases. There has been minimal use on the card utility recently (2 months) so perhaps things will change. If not, I have no reason to close the card other than the low limit. It will just become one that is used just to keep them from closing it! Thanks for the input
Again, your credit profile and income determine the limits and CLI's that you qualify for. Discover may be giving you less than other creditors but all creditors will consider those as primary factors. If you're unhappy with low limits and small or no CLI's then work on your credit profille. Don't just rely on the creditor/product.
Also, do not rely solely on usage or time. My Discover generally sees little to usage but has grown from $5K - $27K. It's not because of usage. It's because of my credit profile.
Thanks for dropping knowledge and experience............again,
I received an $1800 increase after 90 days, so it does depend on your credit profile.
