DISCOVER credit limits (high or low)

Old Jul 1, 20, 11:18 am
  #1  
Original Poster
 
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH, HY, BW, & Titanium Elite Marriott
Posts: 3,704
DISCOVER credit limits (high or low)

It appears to me that Discover is stingy with their credit limits. More so than any other company. I don't know of anyone that has high limits with Discover. What are your thoughts?
EasternTraveler is offline  
Old Jul 1, 20, 4:23 pm
  #2  
 
Join Date: May 2013
Location: New York
Programs: UA Silver, Marriott LTP, Hertz President's Club
Posts: 957
2009: Opened at $500 as a student.
Present credit limit: $42,000 raised automatically by Discover earlier this year (my largest line by far) without crazy spending (my typical bill for many years has been under $100/mo)

Discover seems to be a little more conservative at first but very willing to give you more credit once you prove that you can handle what they've given before.
phltraveler is offline  
Old Jul 1, 20, 7:03 pm
  #3  
 
Join Date: Oct 2006
Location: USA
Programs: the human race
Posts: 2,298
I forgot what mine started at but I got tired of 1k-3k increases and closed it at 41k. The low cap on the 5% categories made the card ho-hum at best.
Dr_wanderlust is offline  
Old Jul 2, 20, 7:13 pm
  #4  
 
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,281
I opened the card in 1996 with a 2500 credit limit, right now it sits at $45K, I never asked for an increase, I seemed to get one about once every 16 months until it hit that number in early 2019, hasn't moved since. My usage is very predictable: I max out the bonus category every single quarter plus a random few regular charges just to keep the card active outside of just bonuses. This means the monthly bill is hardly anything to write home about, so I'm not sure what triggered the increases.
fliesdelta is offline  
Old Jul 5, 20, 8:39 pm
  #5  
 
Join Date: Oct 2016
Location: SBA
Programs: UA Gold 1MM, Marriott Gold, IHG Plat, Hertz PC
Posts: 699
Opened in Oct 2018 with $6,500 initial CL. Raised automatically to $12k one year later.

Also pre-approved through a mail flyer a Discover personal loan in March 2020 (right before Covid) for $35k. I applied for $20k and funds in my account the next day. No fees or closing costs at all, so was very happy with the process.
tstauck is offline  
Old Jul 6, 20, 5:44 pm
  #6  
Original Poster
 
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH, HY, BW, & Titanium Elite Marriott
Posts: 3,704
I guess I have higher expectation. 1K increases every few months does not impress me. 5K credit limit does not impress me. I look at my several other cards with 100K and even US Bank with that limit and think ho hum. Yes they send out those personal loan papers all of the time to me pre approved, but I read the fine print and say good grief.
EasternTraveler is offline  
Old Jul 7, 20, 12:36 pm
  #7  
 
Join Date: Oct 2016
Location: SBA
Programs: UA Gold 1MM, Marriott Gold, IHG Plat, Hertz PC
Posts: 699
Originally Posted by EasternTraveler View Post
I guess I have higher expectation. 1K increases every few months does not impress me. 5K credit limit does not impress me. I look at my several other cards with 100K and even US Bank with that limit and think ho hum. Yes they send out those personal loan papers all of the time to me pre approved, but I read the fine print and say good grief.
Curious what's wrong with the fine print of the pre-approved personal loans? Yes, the rate is higher (mine was around 12%), but they did a soft pull first and quoted me terms. No fees of any kind, no pre-pay, and funds in my account the next day. I thought it was a very smooth process IMO.
tstauck is offline  
Old Jul 7, 20, 7:00 pm
  #8  
Original Poster
 
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH, HY, BW, & Titanium Elite Marriott
Posts: 3,704
Originally Posted by tstauck View Post
Curious what's wrong with the fine print of the pre-approved personal loans? Yes, the rate is higher (mine was around 12%), but they did a soft pull first and quoted me terms. No fees of any kind, no pre-pay, and funds in my account the next day. I thought it was a very smooth process IMO.
You just said it, 12%. I don't do loans over 6%. All of my currently are 2.49% or lower.
Dr_wanderlust likes this.
EasternTraveler is offline  
Old Jul 10, 20, 11:33 am
  #9  
 
Join Date: Oct 2006
Location: USA
Programs: the human race
Posts: 2,298
Originally Posted by EasternTraveler View Post
You just said it, 12%. I don't do loans over 6%. All of my currently are 2.49% or lower.
If you have high limits with other issuers you will be disappointed with Discover. My highest Chase card is 94.5k while discover, after 4 years of requesting limit increases barely got over 40k before I closed it.

There are also plenty of reports of rewards not posting properly (check out the discover complaints on credit boards).
Dr_wanderlust is offline  
Old Jul 12, 20, 11:23 am
  #10  
Original Poster
 
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH, HY, BW, & Titanium Elite Marriott
Posts: 3,704
Originally Posted by Dr_wanderlust View Post
If you have high limits with other issuers you will be disappointed with Discover. My highest Chase card is 94.5k while discover, after 4 years of requesting limit increases barely got over 40k before I closed it.

There are also plenty of reports of rewards not posting properly (check out the discover complaints on credit boards).
Sad, but I think you are right.
EasternTraveler is offline  
Old Jul 13, 20, 6:32 pm
  #11  
 
Join Date: Feb 2014
Posts: 122
Originally Posted by tstauck View Post
Curious what's wrong with the fine print of the pre-approved personal loans? Yes, the rate is higher (mine was around 12%), but they did a soft pull first and quoted me terms. No fees of any kind, no pre-pay, and funds in my account the next day. I thought it was a very smooth process IMO.
Discover “pre-approved” me for one of these loans back in 2018. I called, they did a soft pull and said they could not offer me the pre-approved terms. Instead the rep did the ol bait and switch and said he could get manager approval for a 29% rate. Hung up. Called Barclays who offered me a 6.99%.

What bank offers personal loans at 2.49%? Credit union?

Last edited by EmailKid; Jul 13, 20 at 8:33 pm Reason: Back to back posts
Sup3r52man is offline  

Thread Tools
Search this Thread
Search Engine: