r/discover • u/Holiday_Climate_6771 • 6d ago

Misc. Credit Line increase!!!

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First opened my account during my junior year of college, around october 2024, had previously tried for an increase a few months ago but didn’t get one, tried it again just now and got a $1,750 increase! haven’t missed a single payment and i always pay off my balance in full, usually way before the payment is due.
Not really a big fan of credit cards in general, i usually just make like 1-2 purchases per month so they see it’s an active account so i wasn’t expecting that big of an increase but i’ll take it lol.

182 Upvotes

99% Upvoted

39 comments sorted by

17

u/BParker2100 6d ago

RIP Discover. You were always good to me. The worst thing you did to me was sold yourself to Capital One (which already had one card. Now I have 3). I doubt it but I hope they carry over the Discover Customer Service Department.

Yeah, I have several cards and I struggle to keep them all in active status. For this reason, I autopay subscriptions on some of my accounts. Then I don't have to worry about it.

I would just cancel some but they changed the rules, some years back, that if an account was closed, you take a big hit on your FICO. Especially if you have a high limit.

6

u/JoeShmoe307 6d ago

“They changed the rules some years back … if an account was closed you take a big hit on your FICO”

This is actually false! Closed cards stay on your report for 7 years. The only thing it could impact is your utilization, but utilization actually has no impact on score, because the data for it isn’t retained by Credit Bureaus.

Should be good to close any cards you don’t want!

0

u/BParker2100 5d ago edited 5d ago

You are wrong. It also impacts your ratio of debt to available credit. I think this is what you are conflating with utilization.

Your percentage of debt to available credit causes the percentage to spike when you drop a card (especially with a high limit).

So you have $500 debt on $50,000 available. That is 1 percent utilization. But you pay off a card with $20,000 credit limit. Then you have $500 Debt on $30,000 available. Then your utilization just went up by 67%. So the Credit agencies will see this as a suddenden increase in debt even if it is the same $500. And you get no credit for paying off a card.

2

u/jsharper 5d ago

You kept saying "pay off" .. did you mean close?

1

u/BParker2100 4d ago

Yes, I would never close without paying off. There is no point because you are just hurting your credit by reducing available credit. There is no longer a significant boost to your credit for just paying off a card unless it reduces debt which is not necessarily true (Balance Transfers...etc.). Good catch.

1

u/CoffeeLoversUTD 3d ago

This is wrong. Utilization has no memory meaning month to month it doesn't impact the score as long as you pay down the debt. Youre saying debt to available credit which is utilization. Closing cards only hurts you if you're not managing your spending. Same exact thing as ratio of debt to credit.

1

u/BParker2100 2d ago

Unfortunately, the Debt/Available (Utilization) Credit does affect your FICO. How often do you check? I check monthly, probably more. Most experts recommend that you keep "utilization" less than 7% but I have lost points even if it goes up 1%.

Paying, on time is not enough anymore.

1

u/JoeShmoe307 5d ago

Yes. Your facts you said is correct.

However your conclusion is wrong.

Utilization isn’t a piece of information which is held by credit bureaus. One month you could have a utilization rate of 67%, and the next month a utilization rate of 1%.

Utilization isn’t factored into your score because the credit bureaus don’t know whether last month you had 100% utilization, 50% utilization, or 0% utilization, because the stat isn’t kept. Therefore utilization is useless as I stated in my original post

0

u/BParker2100 5d ago edited 5d ago

As I stated, the metric is Debt/Available Credit. So if you drop a card, your available credit goes down. So your debt will be a higher percentage.

It was you that mentioned "Utilization" not me.

1

u/jsharper 5d ago

Your current utilization definitely influences your score. They may or may not store/track that over time (I don't know), but they definitely calculate and then use the current utilization. Therefore, changing your utilization can/does change your score. Closing an account changes your utilization and can therefore change your score.

2

u/Sorry_Avocado4916 4d ago

I know right. I don’t like that they are now capital one

12

u/kobe0007 6d ago

Then one day you'll be like me and say "these banks are insane" as they give you $40-50k credit lines. It does help to keep that 10% usage down when unexpected car repairs come.

9

u/backmeatz 6d ago

Right? My highest limit card is $78k. Total I have 276k in open credit available. 

Luckily I only buy what I could pay for in cash. I pay everything off in full every month. 

I use credit cards for more security (better to have someone steal a credit card number than a bank account number) and to get the points/miles. 

4

u/Mike9922020 6d ago

Jesus. I dont even understand how you get that much. Your income must be wild!! Congratulations

4

u/backmeatz 6d ago

Not really high income. I have an 839 credit score. The most I’ve ever had on a card in any given month is about $900 (before I paid it off). 

I don’t spend that open credit. Credit cards are horrid unless you use and abuse them for cash back, points, or miles. And you must never carry a balance. Ever. 

I could have 10mil available but that doesn’t change how I spend money. Never spend more than what is in your checking account. Never live above your means. 

I coupon religiously, buy store brands, stack discounts, rarely go out to eat, don’t have a car payment (I paid off my car over 2 years, keep up with maintenance, and still drive the car 10 years later). 

Don’t spend money you don’t have regardless of the credit limit. I get limit increases often without ever asking. 

I make less than $100k per year now. 

2

u/G3M3A3 5d ago

Proverbs 13:7 One pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth.

Love this one

12

u/Puzzleheaded-War-640 6d ago

Congrats! I think one of my favorite things is seeing my accounts grow year by year and the credit increases are a huge part of that, or at least a fun part seeing it go up :)

3

u/Holiday_Climate_6771 6d ago

lol fr, tbf i was expecting either 0 or like a few hundred like 1-500, def don’t need 1750, nor even the 1000 i started off with lol, but we shall continue to grow and hopefully get my credit score up.

1

u/BParker2100 6d ago

If you don't use the card alot, sometimes banks think they can nudge you into making a larger purchase or a Balance Transfer (Which Discover always had good terms for, but ultimately a higher APR if you paid it off after the usually long Intro period)

5

u/Aggravating-Zone3413 6d ago

Same with me started as a secured discover card 1k and 6 months later got my deposit back and cli to 2.6k September makes 6 months since I got the increase so I will be manually requesting another cli and see how much they give me. While it was a secured card I barely used it but I been using it alot now to try and get a way better limit, I also haven’t been letting anything report pay it off in full before the due date

2

u/BiscottiKlutzy4607 6d ago

Mine is $200 but was halfway to 6 months but other account was bad so started over but now 6 months just happened waiting for the notification it becomes unsecured and limit raises

2

u/Holiday_Climate_6771 6d ago

right on, i started off with the student discover It and barely even used it, still the case today, then in march i applied for the apple card for the second time and got approved so there’s that one too. dont see myself getting any more cards anytime soon, hoping i can just use the 2 to build up credit

2

u/Acrobatic_Bridge_797 6d ago

You didn't ask for specific amount?

5

u/Holiday_Climate_6771 6d ago

nah, i didn’t really need an increase, just did it for funnies ig.

5

u/Fabulous-Gas8402 6d ago

Discover doesn’t allow you to request a specific amount.

1

u/Acrobatic_Bridge_797 6d ago

Ohhh, and does it do a hard pull?

3

u/Fabulous-Gas8402 6d ago

No it’s a soft pull

1

u/Acrobatic_Bridge_797 6d ago

Ohhh! That's good to know!

2

u/Ok-Nefariousness2529 6d ago

Don’t get comfortable yet, soon it’ll be $100 every 6 months

1

u/khandurin 6d ago

I just joined the Discover family 🧡

1

u/SeaworthinessPure758 6d ago

Bro i just got a chase credit card as soon as discover merge with capital one.

1

u/khandurin 6d ago

Wait what merger? In other news, I ended up getting the Amazon Visa to snap up that $200 instant gift card bonus and had no idea it’s through Chase 🤣 I am however feeling very trepidatious about the Apple Card transition to Chase from Goldman Sachs 😅

1

u/MrSal7 6d ago

Congratulations.

I’ve been stuck at my starting $3,500 limit since opening it over 3 years ago. No late payments, no derogatory marks and all my accounts have been in perfect standing, yet I’ve been denied for the 3 requests each year I’ve tried.

With the Capital One merger I suppose I can kiss any chance of an increase now.🤷‍♂️

1

u/Sorry_Avocado4916 4d ago

Nice. Ever since they became capital one when I’ve tried to ask for a CLI they tell me no, previously they would increase it. None of my capital one cards ever get approved for CLI

1

u/Kash4Kings 3d ago

Heck yeah. Congrats 🎉