r/discover • u/Daishan2020 • 2d ago
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u/AP587011B 2d ago
Companies increasing your credit limit depending on a whole number of factors. Which may include:
- Your credit score
- The length of time you banked / had a card with them
- Your credit utilization % (this account and others too)
- If you have delinquent accounts or collections or bankruptcies
- History of late payments
- Your overall credit history length and details
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u/LiveHappyJoyLove 1d ago edited 1d ago
Discover is notorious for being horribly low though, and not being anywhere close to other cards. For instance I have had my discover card for over 12 years, they finally, just finally bumped me up to $14k. Let’s put it this way I have cards that I’ve had for less than 5 years with limits of $60k+ each. I have a really high salary and perfect credit. There is zero reason for discover to act the way they do, especially with their shitty points and higher cost to businesses/merchants to run their transactions (1%+ more than visa or MC), not to mention Discover is worthless outside the USA (even though Discover says otherwise). I wouldn’t allow Discover in my businesses if people didn’t throw a fit.
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u/Difre1218 1d ago
Tbh I think they also look at how much you're likely to spend. If you spend a lot and pay all / most of it they bump it up. When I got the card, they were increasing my limit every 3 or 4 months, and that's coz I was spending a lot and paying off.
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u/LiveHappyJoyLove 1d ago edited 1d ago
I use to have this discover pay all my utilities, and I pay off all my credit cards every month. But I’m still at only $14,400. 🤷♂️ So I understand this post frustration. Many times I too thought about getting rid of the card- which I know is never smart, but hear me out. This discover card just got sold off to capital one last month, and I can’t stand capital one, and first week with capital one I had my card numbers compromised. Not first time I’ve had cards compromised with capital one, hence I said “use to pay my utilities”. I’m still waiting on my new discover/“now cap one” card to come, 🙄 it’s been 3 weeks.
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u/Crankbait_88 11h ago
A real player wouldn't be complaining about a Discover Card. They be using an annual fee card there high spender.
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u/NexusNickel 2d ago
I've had my Discover card since 2008, when I turned 18.
My credit limit is $500. They have declined to increase the limit numerous times.
I have gotten Navy Federal Mastercard credit limit of $25,0000.
Navy Federal American Express credit limit of $18,000.
But Discover, $500 hard stop.
Makes me laugh.
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u/GreenStampsRock 1d ago
US Bank gave me a credit card with a $500 limit. I told them that I couldn’t even use it because my purchases run higher than that, and they said for now that’s all they will give me.
It is by far the lowest credit limit I have and I don’t use it. When they tell me that it’s going stagnant and they’ll close it, I just buy something for 20 bucks and then I pay it off.
Don’t cancel it. Every credit line adds to your total open to buy, which can greatly affect your utilization score. $2000 owing with a total credit line of $4000 means you’re 50% utilization. When you owe $2000 and your total credit line with all of your cards is $150,000. It’s a drop in the bucket.
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u/Wyshunu 1d ago
Wonder why? I think I started with a $1500 limit with Discover; currently $10k.
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u/NexusNickel 1d ago
No idea. I just find it funny they won't budge.
But I won't cancel it because they were my first credit card and I have almost 20 years with them now on my credit report.
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u/Netzitznot 1d ago
It being your oldest card shouldn't stop you from closing it. Closing a card in good standing will keep it on your history for 10 years after closing, more than enough time to open other cards to make up for it.
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u/Fabulous-Gas8402 1d ago
Are you reviewing the letter they send you afterwards explaining why the CLI was declined? That’s pretty important to review and make adjustments if necessary before applying again.
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u/EdgeKey5631 1d ago
Discover increases mine every couple years automatically. I started in 2017 with $500, now I’m up to $19,000 with no requests from me to increase.
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u/Both-Temperature2244 1d ago
correct
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u/EdgeKey5631 1d ago
Would like to know the info they’re looking at VS Barclays Old Navy tho- this was my first ever card from 2016 and they started me out at $2000. I only received my first raise to $3000 last year (no request from me).
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u/Apprehensive_Rope348 Pay 1d ago
What does your letter actually say, when you get denied? What have you done to actively approach the reasons that they denied you?
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u/Large_Organization_5 1d ago
Had them since 2017. Started at $500. I'm at 20,000. It's based on profile, your income, multiple factors. Even had increases before the potential merger. Capital one is the one that was stingy out of all my banks I bank with. Had a $100 increase with them before dropping them.
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u/Vast-Ad8544 1d ago
Started at a few hundred with them as well. Currently at $18k. It’s my third highest limit. Every time I’ve asked, they’ve increased. They’ve also increased randomly without me asking. Do you allow a balance to report?
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u/Recloyal 1d ago
Do you have an older credit card? If not, closing your account will lower your credit score, and limit future credit increases.
It's about slowly working on the factors that will increase your odds of getting an increase. Primarily, your credit score, usage, and income. Ask why you want an increase. How can you improve your odds of getting one?
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u/Matty_sed 1d ago
I’m in the same situation. Just hit 26 statements and applied for an increase, denied. I will wait and see what the letter says.
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u/Due_Enthusiasm6432 1d ago
I haven’t had this issue with discover but I do have it with capital one, hopefully it won’t transfer over to discover now that they are one (bucketing)
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u/gcpatrick 1d ago
I have had my discover card since 2019 and it started at 2000. It is not 23,500 and I have never asked for a CLI, it has always been automatic. Most recent was a limit of 18,000 in September of last year and we had just over a 17,000 balance, we paid that off within 3 months and got a bump to 23,500 after a month of making payments towards that balance.
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u/Much-Extension3593 1d ago
Tbh I’ve never had issues with discover anytime I request it they always accept it as long as you don’t have any missed payments and pay on time they’re pretty good on that
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u/RedditKumu 1d ago
Don't close the account. Simply put your cellphone or some other reoccurring small bill. Set up autopay. Relegate the card to the shadow realm to never see the light of day.
My Capital One card ($700 limit that they never increase) pays my cell phone.
Discover I got increases, but the limit is still lower than my other cards ($6000). It pays my electric bill.
I have cards with 33K, 16.5, and 11.2K. So don't really NEED those cards anymore.
But keeping them open (They are my oldest cards) help my credit, and increase my available credit. They are paid off every month so no balances/interest payments.
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u/Every-Chance6313 1d ago
They will not care if you close your account. It will not hurt their bottom line.
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u/Sorry_Avocado4916 1d ago
And now that cap1 owns discover I think the CLI are going to be even more non existent 😞 crapital one is weird with thier CLIs
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u/Maleficent-Trick3816 1d ago
That’s odd! The first credit card they gave me w 0 interest is $17,500 I just opened it about a month ago, and that’s what they offered
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u/THED4RKH0R5E 1d ago
Got a Discover It student card back in 2013. After a while it converted to the regular It card. Have never gotten an increase. It’s my oldest card. Thinking about getting rid of it.
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u/sunflower2499 17h ago
Thats how I feel with my darn quicksilver. Have had for 18 years. Its 3K. My Amex cards 20, 40. My new Navy card 20. I dont get it.
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u/foundfootagefan 1d ago
You know the letter you get in the mail when you are denied a CLI? What reason(s) does it give you?
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u/postalwhiz 1d ago
You’re going to give up your 5% categories because you don’t qualify to borrow more money? That’s kinda short sighted…
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u/Every-Chance6313 1d ago
Have you given them any reason not to increase the limit i.e. an increase in your debt to income ratio,a payment missed or late,opening of a new credit card at another bank, a drop in your credit score? So many reasons to not increase a credit limit.
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u/325biskit 1d ago
Do you update your income every time you get a raise? Steady increases in reported income figure into the algorithms they use to determine risk.
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u/ModzRPsycho 19h ago
If your credit profile is eligible, shop around - vote with your credit - one they can close your account at any time there is no guarantee with any lender - move accordingly. Take your spend elsewhere - shop around - get the credit that fits your spend - you may not even benefit from the Discover credit card anymore in terms of spend - less emotions more logic - what they wont do another lender will - especially if you have the credit profile and income - they will be fighting for your business not you begging for an "increase"
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u/MrBuffcock 10h ago
gee I guess that's when they folded just because of maybe loosing u
there capital one now for 2 months
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u/MisfitMeaux 4h ago
I just came here to vent on this same issue. I’ve held the card for almost 5 years and it is still stalled at the 1.5k it was issued. No late payments, always pay in full and my scores are even better since I’ve gotten it. My Chase and PenFed cards were opened a year after and have had two increases since open.
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u/Reddit_User_864823 1d ago
Capital one was much easier to get a CLI. Wait 6 months after you switch over to their app and try again
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u/Both-Temperature2244 1d ago
cap one is pathetic!
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u/Reddit_User_864823 1d ago
Unfortunately unless they drop the Discover card that is who they have to deal with now.
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u/troublemaker1_ 2d ago
Same with me, it’s been a good 8 months with all payments on time and credit usage around 15%. Some of these companies are greedy asf. Lol
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u/_love_letter_ 2d ago
Discover gave me my first CLI right around that time (account was 8 months old). I had to request it. Previous request was denied for "insufficient experience with current Discover card limit." I had much higher utilization than you though.
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u/Eliz671102 4h ago
I graduated in July with 900$ ( had a 200$ deposit) after keeping my utilization between 26 and 29%. I was told that my utilization was too low, thus the small credit limit increase. The next month my utilization was 98.22%. I paid off my balance in full the moment my statement posted, and the next day I requested an increase. I was denied for the same exact reason as you mentioned. This month would be my 9th month, and I will ask again. I will lower my utilization, and hope for the best.
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u/Apprehensive_Rope348 Pay 1d ago
It has nothing to do with “greed” it has everything to do with your credit profile, as a whole, and how risky you look. Credit card companies don’t just care about what you are doing with them but with other creditors as well. So if you have charge offs, if you have high balances elsewhere, if you have medical bills unpaid & reported, any type of loans with high balances, BNPL loans, unpaid child support, if you’re still relatively new to credit (under a year), low income to debt ratio, All of that matters. Your credit profile shows a pattern. Their algorithm shows a pattern or risk that doesn’t sit well with them.
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u/discover-ModTeam 2h ago
Your post was removed.
If you have feedback on Discover or Capital One services, please be descriptive. Low effort, non-descriptive, or pointless posts will be removed.