Discover info needed

Discussion in 'Credit Talk' started by Darrell, Dec 1, 2000.

  1. Darrell

    Darrell Guest

    I've always stayed away from Discover because of its two-cycle billing method. Last week, though, I responded to a phone solicitation for a Platinum card with a minimum $5,000 limit and low balance transfer rate.

    Well, anyhow, the card came today and it's not a Platinum card. It's a Classic card with a $3,000 limit. Same terms on the disclosure, including the balance transfer rate.

    I was aware that they could default to Classic, but I was surprised at the relatively low credit limit. Anyone have any idea how long it takes to qualify for Platinum and a higher line?
     
  2. GEORGE

    GEORGE Well-Known Member

    Six months or a year you can "apply" for a credit line increase, meaning a credit report will be done "INQUIRY".

    I SPEND $30,000-50,000 EVERY YEAR ON MY DISCOVERCARD AND HAVE NEVER GOT A
    "NO QUESTIONS ASKED" AUTOMATIC INCREASE IN THE CREDIT LINE!!!

    FIVE + YEARS OF NEVER LATE, AND MOST MONTHS I OVER-PAY THE BILL.

    I HAD TO "APPLY" FOR THE ONE INCREASE I GOT!!!

    I GUESS IT DOESN'T MATTER HOW MUCH YOU SPEND, HOW YOU OVER-PAY THE BILL, AND THAT YOU ARE ALWAYS ON TIME...IT MATTERS WHAT YOUR CREDIT REPORT SAYS!!!
     
  3. skip

    skip Guest

    What kind of increase did you get for the trouble?
     
  4. creditwork

    creditwork Well-Known Member

    I have never asked for an increase, but I have gotten a couple. I am a Discover Platinum holder. I exercise my credit with balance transfers and large payments over at least 3-6 months. Always take advantage of "teaser rates".

    http://www.creditsense.com
     
  5. credit wis

    credit wis Guest

    I got my DISCOVER back in october of 1999.When i appied to their platinum by phone at that time.Well i got approved,and it was a classic at first with a 3500.00 limit.They had a 800 number you had to call to activate the card.So i called to get the card activated,and belive it or not a C.S.R answered the 800 number.So he asked what can i do for you?I said i want to activate my classic card.He said okay let me go ahead,and do this for you.Then the C.S.R. said would you like to take advantage of our low rate balance transfer offer of 2.9% for 7 months?I said no at first because i wanted a platinum card but got your classic card instead.So the C.S.R said wait a minute let me see if i can get your credit limit increased to our platinum card.So about 5 mins. later he came back on the phone,and said i got your credit limit up to 9K!So i did take them up on their balance transfer of 2.9% for seven months.So i asked him after he got my credit limit raised is this a PLATINUM card know?He said yes you have a platinum know,and you should receive your replacement card in 7 to 10 days.He said when you get the card just cut up your classic,and pitch it.What i think is happening when you apply for their platinum is that they are only doing a basic review of creditworthness at tat time.When you call their number to activate the card they do a extensive review of your application by using bankruptcy scorecard to predict what is the likleyhood of this person declaring BK?I think this was a factor for them to decide wether to give you a platinum or not.
     
  6. credit wis

    credit wis Guest

    Hi George
    I just wanted to let you know they do indeed give automatic increase on a persons credit limit.It has taken me a year,and they have raised me 2K.So i went from 9K to 11K now.So no inquirie for me.I just don't what factors they use outside of a persons credit score to raise their limits.
     
  7. me2

    me2 Guest

    I have never had to ask for a credit increase...they have been automatic and (generally) in $1,000 increments. I've had the card for 8 years.
     

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