Jump to content

Sign in to follow this  
Grady913

Discover "routine account review"

Recommended Posts

I've never paid my Discover card late in the 7+ years I've had it and usually try to pay double the minimum payment. Our first plan of attack on this journey is to pay down balances so I sent them $1,000 for August's pymt. This brought outstanding balance to $2,200 (limit is $4,400). Well I get a letter today generated the same day as my last statement closing date that says:

 

Dear Grady913,

 

We are conducting a routine account review and would like to speak with you to update the information on your account. Please contact us within seven days from the date of this letter and be prepared to update your financial information, including employment and income.

 

We look forward to speaking with you so that we can continue to effectively meet your financial needs.

 

If you have already been in contact with our office, please disregard this message.

 

Sincerely,

 

Operations Portfolio Review

 

I'm trying to be optimistic but my gut is telling me this can't be any kind of good news. I will feel so defeated if we end up punished for trying to better our situation.

 

Anyone else received a letter like this?

Share this post


Link to post
Share on other sites

Perhaps just to update with more recent info.

 

At least they are not demanding a completed 4506-T form into them by 5 business days or else.

Share this post


Link to post
Share on other sites

Discover just sent me this:

 

"We have an important request for you. We need to update your graduation and employment information. This will enable us to consider you for future marketing offers and potential credit line increases. Call us at X-XXX-XXXX and update your information today. It only takes a minute!

 

We thank you for being a cardmember and look forward to hearing from you soon."

 

I have been using the card since 2008 and have paid in full every month.

Share this post


Link to post
Share on other sites

probally just the new credit laws kicking in. nothing to worry about

 

unless your score has dropped or file changed

Share this post


Link to post
Share on other sites
Discover just sent me this:

 

"We have an important request for you. We need to update your graduation and employment information. This will enable us to consider you for future marketing offers and potential credit line increases. Call us at X-XXX-XXXX and update your information today. It only takes a minute!

 

We thank you for being a cardmember and look forward to hearing from you soon."

 

I have been using the card since 2008 and have paid in full every month.

 

Is this request on a student card?

Share this post


Link to post
Share on other sites

I got one - they cut my credit line in half. If yours is like mine, you will be talking to a credit analyst. Have all your financial information handy, and don't be surprised if they cut your credit line anyway.

 

Guys, don't make payments that are way outside your normal payments. Increase them gradually. I believe that a "big" payment flags you for a review - if it's much bigger than your normal payment. No idea what logic caused this, but I'm hearing it a lot. Anything out of your ordinary pattern of behavior will get their attention.

Share this post


Link to post
Share on other sites

Well, this isn't good. I've been unemployed for 6 months, and am not anxious for any of my creditors to know that. I'm still paying all my cards (except the one that carries a balance, the formerly hidden UMB) in full every month as always, not deviating from my previous patterns. I really don't need a financial review right now. :lol:

Share this post


Link to post
Share on other sites
Well, this isn't good. I've been unemployed for 6 months, and am not anxious for any of my creditors to know that. I'm still paying all my cards (except the one that carries a balance, the formerly hidden UMB) in full every month as always, not deviating from my previous patterns. I really don't need a financial review right now. :dntknw:

 

 

I hope that you are able to stay under the radar, I would follow the advice Breeze gave, and you should be just fine.

Share this post


Link to post
Share on other sites
Well, this isn't good. I've been unemployed for 6 months, and am not anxious for any of my creditors to know that. I'm still paying all my cards (except the one that carries a balance, the formerly hidden UMB) in full every month as always, not deviating from my previous patterns. I really don't need a financial review right now. :rofl:

 

 

I hope that you are able to stay under the radar, I would follow the advice Breeze gave, and you should be just fine.

 

Thank you. :rofl: That's been the plan so far, not doing anything to arouse suspicion. :dntknw: Except today I found out I have a job interview (only PT) with... one of my creditors. YIKES. Let's hope they don't put two and two together!

 

The Discover FR is a new one on me, though... hope everyone who gets one posts here, and can offer data points as to anything they did differently prior to notification.

Share this post


Link to post
Share on other sites
Well, this isn't good. I've been unemployed for 6 months, and am not anxious for any of my creditors to know that. I'm still paying all my cards (except the one that carries a balance, the formerly hidden UMB) in full every month as always, not deviating from my previous patterns. I really don't need a financial review right now. :rofl:

 

 

I hope that you are able to stay under the radar, I would follow the advice Breeze gave, and you should be just fine.

 

Thank you. :rofl: That's been the plan so far, not doing anything to arouse suspicion. :dntknw: Except today I found out I have a job interview (only PT) with... one of my creditors. YIKES. Let's hope they don't put two and two together!

 

The Discover FR is a new one on me, though... hope everyone who gets one posts here, and can offer data points as to anything they did differently prior to notification.

 

Congrats and Good luck on the job interview. Part-time is better than no-time. That will help you get a little more space between you and your bills until you can get a full time gig.

 

I wouldn't worry to much about them putting two and two together, mostly likely they will not. Plus, they have no idea whether or not you have another full time job, and that you want to pick some extra spending money. :rofl:

Share this post


Link to post
Share on other sites

My Discover card has been stuck at its original $2000 CL for over two years now (the CLI phone option has become a joke and I won't even consider a hard pull for a CLI).

 

That situation, along with the ridiculous 18.99% APR on this card, almost makes me wish I'd get the FR letter. It would help me finally decide to close the card.

Share this post


Link to post
Share on other sites
My Discover card has been stuck at its original $2000 CL for over two years now (the CLI phone option has become a joke and I won't even consider a hard pull for a CLI).

 

That situation, along with the ridiculous 18.99% APR on this card, almost makes me wish I'd get the FR letter. It would help me finally decide to close the card.

 

 

Interest rate matters not when one pays in full. I would see if you could get them to lower your APR since you have the card over 2 years in good standing. Have you used the card much?

Share this post


Link to post
Share on other sites
My Discover card has been stuck at its original $2000 CL for over two years now (the CLI phone option has become a joke and I won't even consider a hard pull for a CLI).

 

That situation, along with the ridiculous 18.99% APR on this card, almost makes me wish I'd get the FR letter. It would help me finally decide to close the card.

 

 

Interest rate matters not when one pays in full. I would see if you could get them to lower your APR since you have the card over 2 years in good standing. Have you used the card much?

I try to PIF all my cards, but in the event I ever need to revolve a balance, the APR matters very much to me. At this point, even if they were to lower my APR, I doubt I'd use the card because of the low CL. I used the card like crazy the first year, but after multiple futile attempts at CLI's I got pretty soured on the card and sock-drawered it. Basically, it's only still open because it helps a tad with utilization. I won't miss it a bit if I end up closing it due to an FR.

Share this post


Link to post
Share on other sites
Discover just sent me this:

 

"We have an important request for you. We need to update your graduation and employment information. This will enable us to consider you for future marketing offers and potential credit line increases. Call us at X-XXX-XXXX and update your information today. It only takes a minute!

 

We thank you for being a cardmember and look forward to hearing from you soon."

 

I have been using the card since 2008 and have paid in full every month.

 

Is this request on a student card?

 

No, I have the Discover More Card.

Share this post


Link to post
Share on other sites
Discover just sent me this:

 

"We have an important request for you. We need to update your graduation and employment information. This will enable us to consider you for future marketing offers and potential credit line increases. Call us at X-XXX-XXXX and update your information today. It only takes a minute!

 

We thank you for being a cardmember and look forward to hearing from you soon."

 

I have been using the card since 2008 and have paid in full every month.

 

Is this request on a student card?

 

No, I have the Discover More Card.

 

Strange. Must be a template type letter. One to cover the student cards as well.

Share this post


Link to post
Share on other sites

UPDATE:

 

So I had my review this morning. I was lucky and got a very friendly rep. As I suspected, they were about to cut my limit in half due to my main negative - EMC Mortgage.

 

I explained very honestly that it is an account I am currently disputing because of some very shady practices but besides that and a few other minor negatives here and there I've tried very hard to always pay my bills and I've never paid my Discover late in all the years I've had it. He asked me the name of the companies my husband and I work at and our estimated combined income. He said alimony, child support, etc can be included only if you want it to be. I stayed very friendly the entire time and (even though I was honest about income, etc) he didn't require me to send any documentation or verification of my statements anyway.

 

He suggested I keep an eye on my reports and to attempt to dispute negative items if I wanted to B) I thought "You have no idea, sir!"

 

He said they would not be cutting my limit at this time, however, that if the next time my account came up for an "automatic review" and my EMC issue had not changed at all, they would not be able to make the exception again. I do not intend for that to be the case!

 

I hope this helps my fellow Discover card carriers out there!

Share this post


Link to post
Share on other sites

Congrats Grady! I'm glad you got a friendly rep... that helps make an uncomfotable situation easier! :)

Share this post


Link to post
Share on other sites

i just got the letter and my line was dropped to $3400 from $5000...so a $1600 reduction. i have no negatives but have added a $9000 car loan.

 

I use the card daily and pay it every 2 weeks as i get paid...avg $2000+ in payments a month....and depending on how the statement cuts have a balance of around $1000.

t

sucks cause its the weekend so no one to call until Tuesday likely....I will call then and if they don't give me my line back then it will be PIF in 2 weeks and sock drawer here it comes.

Share this post


Link to post
Share on other sites
I got one - they cut my credit line in half. If yours is like mine, you will be talking to a credit analyst. Have all your financial information handy, and don't be surprised if they cut your credit line anyway.

 

Guys, don't make payments that are way outside your normal payments. Increase them gradually. I believe that a "big" payment flags you for a review - if it's much bigger than your normal payment. No idea what logic caused this, but I'm hearing it a lot. Anything out of your ordinary pattern of behavior will get their attention.

 

 

I'd guess that large, unusual payments are considered 'found money'; ala, one time only stuff. Nice to pay off the ccard, but from their viewpoint, they don't want the new exposure without a track record of being able to handle payments to support it.

 

Unless someone is in a hurry for a specific reason(mortgage, etc.) to pay off a bunch of ccard accts., it's probably wiser to do it over a few/several months, with oddball amounts, even though this involves carrying interest charges for a bit longer. At least this would give one the best/least worst chance of keeping cards open and limits unchanged.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Today's Birthdays

  • Member Statistics

    • Total Members
      176,745
    • Most Online
      1,528

    Newest Member
    zerocat1
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines