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Discover IT...need cli advice...

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Frequent Contributor

Discover IT...need cli advice...

Wednesday I will have had this card for 1 year. Started at $500...cli to $1000 in 3 months...$500 cli each month for the next 3. I've been sitting at $2500 for 6 months and Discover won't budge.

 

I've used the card heavily or used it rarely but always pif or keep reported util from 0%-15%. I have primariliy used the card for the quarterly categories.

 

My Fico scores are 770-780 via CCT and my TransUnion Fico through Discover is 781 as of 7/6/17. Major cards are Amex EDP @ 24k, PenFed Promise @22.4k, BofA Alaska @ 28k, BofA Cash @15k, Amex SPG @ 10k, Chase Amazon @6.5k.

 

My overall util right now is 5%, total available credit is $200k

 

What am I missing with Discover? I don't plan on closing the card but would really like a higher limit....any suggestions?

Message 1 of 26
25 REPLIES 25
Senior Contributor

Re: Discover IT...need cli advice...

Join the crowd with the same problem. http://ficoforums.myfico.com/t5/Credit-Cards/Discover-unOfficial-Data-Points/td-p/4802538/page/71





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 26
Super Contributor

Re: Discover IT...need cli advice...

Welcome to the forums!

 

If I am reading your post right, Discover has mutliplied your original credit limit by a factor of five in the last year, via multiple CLIs (all without a hard pull).  That's actually an example of a CC issuer being really responsive to a consumer's CLI desires.  Some issuers do far less than that (maybe once a year say).

 

I am a bit curious about why you want a much bigger CL on this particular card in the next six months.  You already have many cards with big limits and your utilization is low.  The quarterly category right now is restaurants.  Do you think you'll been spending thousands of dollars on restaurants each month?  The answer may be yes... just curious.

 

Again, glad you are here and wish you all the best.

Message 3 of 26
Frequent Contributor

Re: Discover IT...need cli advice...

I am in no way complaining about the cli's I've goiten. I do feel it odd every other creditor has rewarded me with larger cli's.

- Penfed in one shot went from $5k to $22.4k

- BofA Alaska went from $6k to $28k in one shot...

- Amex EDP went from $8k to $24k in one shot...

 

I think it odd than someone with nearly an 800 score with a diverse and responsible profile would be held to a $2500 limit. I do put roughly $3k through cards every month so I figure the cli would be simple to keep a consumer happy especially since they'd see more income from swipe fees.

 

I don't spend lots on fast foods and restaurants but I still like using my Discover cards and like they way treat their customers.

 

I don't plan on closing it...just wondering what might be so odd about my profile that they'd see it best to keep my limit low.

Message 4 of 26
Regular Contributor

Re: Discover IT...need cli advice...

I would just keep doing what your doing and hopefully eventually they'll budge. Just out of curious what is your income ? 

 

 

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Discover-CLI-The-road-to-32k/m-p/4842730/highl...

 

 

 

That was my CLI journey with discover. Take a look and see some data points. 

 

 

Good luck !!

Message 5 of 26
Super Contributor

Re: Discover IT...need cli advice...

What is your income?

 

One thing to bear in mind is that Discover isn't making its decisions solely in a vacuum.  They can see that your total credit limit (counting all your other cards) is going way up.  They may feel like you already have a lot and don't want to give you more since you already have so much.  Thus, if you didn't already have a 200k credit limit (!) you might be getting more CLI action from them.  I experienced actual CLDs this year when my total CL got higher than my income.  (And my FICO 8 varies between 805 and 830.)

 

There's probably a lot of speculation in that thread as to why Discover might not be aiming its products at people who want big credit limits.  To me it kinda makes sense that they'd do that.   Once a person actually begins to want/need a card that has a 10k or 20k limit, he's probably not going to be using a Discover for it.

 

As far as I can tell, there's no real adavntage to spending more than $1500 per quarter on a Discover (or a Chase Freedom, etc.) -- and even then only if 99% of the spending is in that quarterly category and is stuff you really want.  That averages to $500 a month.  That's why I was thinking that your $2500 CL will probably be just fine.  I am sure you can get a CLI once a year if you really want it.

 

All that said, no reason not to ask folks here for their thoughts -- certainly not discouraging you from throwing the question out there!

Message 6 of 26
Valued Contributor

Re: Discover IT...need cli advice...


@FireMedic1 wrote:

Join the crowd with the same problem. http://ficoforums.myfico.com/t5/Credit-Cards/Discover-unOfficial-Data-Points/td-p/4802538/page/71

 

Eww wee! Now ill be up all night. 🙄




 

Message 7 of 26
Frequent Contributor

Re: Discover IT...need cli advice...

My income has been $80k to $90k the last 3-4 years. It's just a curious case...I understand the different ways creditors weight variables to make safe decisions...I can't imagine I'm on their radar as a risk but who knows.

 

I don't like making multiple payments every cycle...I think that raises flags for MS and would prefer 1 larger payment before or after the closing date. I'm hoping when my cashback match hits in the next few days I'll hit the button and try again. If not, I may try calling Discover and talking to an analyst.

 

Thanks for the input guys...it's appreciated.

Message 8 of 26
Super Contributor

Re: Discover IT...need cli advice...

Sounds like your total credit limit is more than double your income.  Discover may not like that.

 

Your $2500 CL should work ok with your idea of 1 payment shortly before the statement prints. 

 

Best of luck regardless...

Message 9 of 26
Frequent Contributor

Re: Discover IT...need cli advice...

I find this thread fascinating.  I'm with the OP in that I don't understand why he's being held to such a low CL given his stats.

 

Take me for example.  I opened an It card in March of this year.  The SCL was 7,500 and I recieved a CLI of 3,000 less than 2 weeks ago.  It's my card with the highest CL yet I have a lower reported income, lower scores by far and a much, much thinner credit profile than the OP.  Go friggin figure.  

 

Personally, I'm on a CLI mission just because.  I'd like to see how much credit I can get for no reason at all.  LIke when I was 14 and spent one summer trying to see how tan I could get.  

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EX 753 TU 805 EQ 763
Goal Score: 800's



Total Individual CL: $162,100
Message 10 of 26
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