"Discover Sure Is Stingy!"

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Written by: charonh on 2008-10-17

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charonh's review: Callout Comment Hello everyone, I am new to this board, but I love FG's website. I usually check it once a day to read new posts, etc. Well, my current credit score is 662 EQ. I'm unsure about the others. I recently applied for this card after a preapproved mailer. The terms were excellent, 0% interest for 12 months, 3.99 balance transfer rate, etc. They instantly approved me online for $500 bucks. This is by far my lowest major card credit limit. I have one bad item, paid state tax lien, that will fall off sometime next year. I called to cancel the account, but was told that it would show on my file as a closed account, therefore I decided to keep it open since I already took a hit with the inquiry. The representative told me to use the card and after six months I should receive an increase and that not a lot of people are eligible to become discover cardholders, therefore I should consider them allowing me to be one a compliment. I must say, I am not impressed with the small credit line thus far and I am finding that a lot of merchants do not accept discover; however their customer service was excellent. I must admit that I am close to my limit on a few of my cards/lines which probably played a part in their decision. I will keep you guys posted!


Comment 1 by meya
Way To Go User Icon on 2008-10-17

Remarks First off, welcome to FG, we are so happy to see new members come aboard!

Second, way to go baaaaaby! You got your foot into a door that a lot of us is still knocking on. I would take that limit and roll with it. I know a few people here that has a Discover card and I hear great news about them.

If you have not done so, follow this link where you can get to meet a lot of members who will be glad to share cc info with you:

Comment 2 by wildrage2
Well User Icon on 2008-10-17

Remarks It looks like a lot of card companies are going that route. The days of getting instantly approved online with a $25k limit seem to be over, my friend. Your score is pretty good, but only about the average (mine is about the same).

Also, NEVER use your discover card to buy gas. They have an arrangement that they authorize the card for like $100 every time, even if you only get $10 worth of gas. It sometimes takes over a week for the authorizations to clear, so theoretically, you can go the gas station a few times in a week and max our your card! Lol
Comment 3 by thomas1
Discover User Icon on 2008-10-17

Remarks Yeah, you said that right!! Discover doesn't mess around. They are stingy, and are the hardest to obtain credit limit increases from. They do review and possibly approve a cli every 6 mos to a year.

They are very difficult to be approved for, and I mean harder than Amex, Citi, Chase, BOA.

Consider yourself lucky you are in the door, I know a lot of people who have applied with impeccable credit, and flat out denied. They base their standards of approval very high, sometimes just down right stuffy. But, that is probably why they have the least amount of chargeoff writeoffs each year, and have been voted the #1 card in the industry for over the past 5 years at least.

You should pay down your balances on your other cards before even hoping for a cli with them, they pull the report right in front of them if you ask for a cli, and its a hard pull. Get your balances down, and keep them there, and once they review your account again for a cli on their own, you should receive it.

I would never close a Tier 1 card for any reason. You might not get back in the door...

Take Care
Comment 4 by arod
Discover Card!!! User Icon on 2008-10-17

Remarks First Congrats on your approval.

and also Charonh yes They are cheap with there credit line.

I have had the Discover card since 2000 and would you believe my credit line is still $1000 but they are now in my sock drawer.

It's a great card if your FICO is 750 and higher.

but even with that line it still good to have.

Congrats and good luck to you.

Comment 5 by colonative
Discover Card User Icon on 2008-10-18

Remarks Hello and welcome to the board.

I can tell you from experience that Discover does not mess around with credit lines.

I was brand new to credit in 1998 and it took four, count them four, applications before I was finally approved for a Discover Card in 1999 with a $1,500 limit.

I used the card religiously through 2004 until I switched to my Citi Dividend Platinum Select (better cash back program). I must have spent close to $40K on the card during that time.

I requested three credit line increases from 2000-2001 and each were only approved for $500 each (I requested more).

Here it is 2008 and my Discover Card is nine years old and I only have $7,800. My advice is to not request limit increases with them because they will do a hard inquiry on your bureau and they are stingy. Best bet is to use the card a lot and then let them give you auto increases. When I stopped requesting them they gave me three $1,000 increases six months apart and then sometime in 2004 they gave me $1,800.

Otherwise, this is a great card and they have excellent customer service and an easy to use website.

Don't forget to sign up for their 5% bonus cash back program which right now through December is 5% cash back on groceries.
Comment 6 by charonh
Thanks Everyone! User Icon on 2008-10-18

Remarks Thanks for the warm welcome and all your replies. I feel a lot better after reading them. I will remain positive and use the card as much as possible, but like I said, I am finding that a lot of merchants do not accept it in my area (Georgia). I will take all of you guys advice, especially yours, ColoNative, I will let them give me automatic increases, if they ever do, lol. Overall, I do like the card, its features, and especially customer service (outstanding). Meya I too, am a college student (Criminal Justice/Major; Spanish/Minor), hopefully I will graduate next fall (I'm keeping my fingers crossed).
Comment 7 by eldarwen
Congrats! User Icon on 2008-10-18

Remarks Congrats on the card! Discover is very hard to get into. I have noticed that they don't like to see any baddies on credit reports (lates, bk's, co's).
Comment 8 by thomas1
ELDARWEN User Icon on 2008-11-06

Remarks You said that right, no bk's, no c/o's or late do they like! The most conservative bank on the planet as far as cards issued.

I had to verify almost my entire report with the rep when I called in, that's how strict they are.

I am very happy with the card so far...
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