We're applying for a new discover with my wife as primary. I have a 11 year old line at 14.5K with 0 balance. I'm interested in getting the maximum line available for her, using the online Platinum application with the $40 Omax bonus available at https://www.novusnet.com/discover/c...&tI=dsc_app&tpl=officemaxbridgea.tpl&sc1=NZSS (thanks MarkM of FatWallet.) She has $80K+ income, plus another $55K total household (mainly my) income. We have several CCs we would BT too, and the application allows for up to 4 BTs right on it. I'm assuming that asking for BTs gives you a higher CL, as with Cap1 and several others...? Anyway, I'm wondering just how much we should ask for in BT to get the highest CL without being rejected. (Oddly, when I tried to enter more than 1 BT destination in the online app, only the top one showed on the confirm screen...?) They say they give up to $50K lines. She has a 773 EQ score at the moment, probably somewhat lower on TU and EN. Any help/advice most appreciated!
That's usually the best strategy - the more in BTs the higher the LINE, so they say. I can't prove it though. I can say that when we got a Disco. card with $5k limit, they called about a week later to ask (1) did we get the cards and (2) do we want to do a BT ... I said that I wouldn't go over 50% of the credit line, and the guy doubled it on the spot to $10k (no inq., immediately). -mj
Interesting data point, mj, thank you Seems like all the research suggest that BTs make them big money, and they'll pull out the stops for this. Cap1 does this big, and Amex just doubled Dad's 10K CL to 20K by taking the 10K 5.9% till paid BT offer. Other thoughts?
bump--anyone else experience the funny "only one BT" dynamic in a Discover online app confirm screen?
update: they pulled TU and turned her down...despite the fact that we got a pre-approved offer in her name the very next day! Sigh...
I, too, was turned down for Discover. My TU FICO was 772. I had a pre-approval received via mail but I did an online app. The reason they turned me down was that I had too many 'new' accounts with balances. As it happens, I only had balances on two accounts, one of which was an old account opened in '87 the other on an account that was 11 months old. Credit utilization was only 17%. Now I'm burned that I have a useless hard INQ on TU! I hate inquiries enough but especially hate them when they got me nowhere.
