Credit Line Increase and new credit card?

[PotO]

4 minutes ago, maverick9 said:

Yep. Do you think I can still ask for a CLI being that they did this? 

 

I doubt they will give you one.  They'll come out and say something like "limit recently increased".  That said, IMO it can't hurt to try.  It should be a soft INQ.

[shifter]

You can ask Disco any time you want. However, in all my years over various cards I don't think I've had a single successful CLI request. This is the reason they are often discussed as being "subprime." Limits grow slow and steady at their pace. The key word being slow. But if you wait 10 or 20 years some people have reported limits over 100k.

Edited August 9, 2022 by shifter

[PotO]

26 minutes ago, shifter said:

You can ask Disco any time you want. However, in all my years over various cards I don't think I've had a single successful CLI request. This is the reason they are often discussed as being "subprime." Limits grow slow and steady at their pace. The key word being slow. But if you wait 10 or 20 years some people have reported limits over 100k.

 

The only time Discovery ever gave me a positive response to a CLI request was when I actually used the card a lot.  

 

I'm beginning to think that Discovery is on food stamps and cannot afford to give limits as high as other card issuers.  

[maverick9]

3 hours ago, shifter said:

You can ask Disco any time you want. However, in all my years over various cards I don't think I've had a single successful CLI request. This is the reason they are often discussed as being "subprime." Limits grow slow and steady at their pace. The key word being slow. But if you wait 10 or 20 years some people have reported limits over 100k.

Ugh

[shifter]

6 hours ago, PotO said:

 

The only time Discovery ever gave me a positive response to a CLI request was when I actually used the card a lot.  

I'm trying to test that out this year. I've diverted a good bit of spend onto my two cards the last couple of months and plan to continue for a few more. The goal is that I will be eligible for a CLI on both cards which is the prerequisite for being able to combine them. Then I'd actually have a card with a decent limit. 

[PotO]

12 minutes ago, shifter said:

I'm trying to test that out this year. I've diverted a good bit of spend onto my two cards the last couple of months and plan to continue for a few more. The goal is that I will be eligible for a CLI on both cards which is the prerequisite for being able to combine them. Then I'd actually have a card with a decent limit. 

 

Sounds like a good plan.  Please let us know how it turns out.  

[maverick9]

Waiting on my Disco card to update on the CRA's. 

 

I want to get in the the Chase family because I do like their reward programs but also I think it would beef up my credit profile since Chase is a Tier 1 account.

 

Do you all think it's best for me to go for a Chase card vs getting another NFCU card for my reasons?

[DebtFreeIn04]

17 minutes ago, maverick9 said:

Waiting on my Disco card to update on the CRA's. 

 

I want to get in the the Chase family because I do like their reward programs but also I think it would beef up my credit profile since Chase is a Tier 1 account.

 

Do you all think it's best for me to go for a Chase card vs getting another NFCU card for my reasons?

I'd go for chase first if I was under 5/24. NFCU will always be there. I too am pining for my first chase card I just have to get the hang of delaying cc sub gratification on other cards 😆 

[maverick9]

47 minutes ago, DebtFreeIn04 said:

I'd go for chase first if I was under 5/24. NFCU will always be there. I too am pining for my first chase card I just have to get the hang of delaying cc sub gratification on other cards 😆 

Thanks. I have no CC's with Chase. Just wondering if it helps the credit profile vs getting another one from NFCU. 

Edited August 13, 2022 by maverick9

[shifter]

1 hour ago, maverick9 said:

Waiting on my Disco card to update on the CRA's. 

 

I want to get in the the Chase family because I do like their reward programs but also I think it would beef up my credit profile since Chase is a Tier 1 account.

 

Do you all think it's best for me to go for a Chase card vs getting another NFCU card for my reasons?

Not for that reason. Having Chase on your profile means nothing to any UW. The reason why you app certain cards is because they fit your rewards and usage needs and because they are a quality creditor that will grow with you. You don't seem to have grasped the concept yet that you don't choose a card because of what it means to someone else. What are your spending habits? What do you intend to use rewards for? Only you can answer those questions and app cards that meet your goals. 

[maverick9]

1 hour ago, shifter said:

Not for that reason. Having Chase on your profile means nothing to any UW. The reason why you app certain cards is because they fit your rewards and usage needs and because they are a quality creditor that will grow with you. You don't seem to have grasped the concept yet that you don't choose a card because of what it means to someone else. What are your spending habits? What do you intend to use rewards for? Only you can answer those questions and app cards that meet your goals. 

I eat out a lot and buy daily on Amazon. 

 

I have read many threads on CB that have touted having tier 1 banks/creditors has clout. It's almost like when someone pulls up in a Toyota vs a Mercedes. You're just taken more serious and given respect. 

 

I use to work for a major mortgage company and witnessed underwriters make comments that they don't see tier 1 accounts on ones application. 

[PotO]

10 hours ago, maverick9 said:

I eat out a lot and buy daily on Amazon. 

 

I have read many threads on CB that have touted having tier 1 banks/creditors has clout. It's almost like when someone pulls up in a Toyota vs a Mercedes. You're just taken more serious and given respect. 

 

I use to work for a major mortgage company and witnessed underwriters make comments that they don't see tier 1 accounts on ones application. 

 

Bull💩.  Pure bull💩.  @shifter has already explained it to you.  

 

First of all, there isn't a single mortgage company in the US that will decline a mortgage application because the applicant doesn't have a so-called Tier 1 account in their credit mix.  Neither will hey approve their mortgage on unfavorable terms for that excuse.  These underwriters work for a company / bank and were the underwriter caught using the absence of a so-called Tier 1 account to deny or otherwise degrade a mortgage application, I can guarantee that they will be flipping burgers.

 

Second of all, the threads that you mentioned must have been written by total fooking morons.  Just what fooking respect do you think you are given when no person even sees your credit reports wen you apply for a credit card?  Virtually every credit card issuer has the process automated.  If you think their computer that analyzes your credit application is even capable of taking you seriously or give you respect then you have some extremely serious psychiatric issues.  

 

 

[centex]

On 8/13/2022 at 10:10 PM, PotO said:

 

Bull💩.  Pure bull💩.  @shifter has already explained it to you.  

 

First of all, there isn't a single mortgage company in the US that will decline a mortgage application because the applicant doesn't have a so-called Tier 1 account in their credit mix.  Neither will hey approve their mortgage on unfavorable terms for that excuse.  These underwriters work for a company / bank and were the underwriter caught using the absence of a so-called Tier 1 account to deny or otherwise degrade a mortgage application, I can guarantee that they will be flipping burgers.

 

Second of all, the threads that you mentioned must have been written by total fooking morons.  Just what fooking respect do you think you are given when no person even sees your credit reports wen you apply for a credit card?  Virtually every credit card issuer has the process automated.  If you think their computer that analyzes your credit application is even capable of taking you seriously or give you respect then you have some extremely serious psychiatric issues. 

I could envision a scenario where an extremely marginal applicant went to actual manual underwriting and an underwriter saw the mix and recognized that it was indicative of likely prior risk issues. 

 

That said, such scenarios are NOT something that would be expected to occur with any manner of regularity. 

 

 

[maverick9]

On 8/13/2022 at 12:22 PM, maverick9 said:

ing tier 1 banks/creditors has clout. It's almost like when someone pulls up in a Toyota vs a Mercedes.

So I checked my tri-merged reports via Experian.com and EQ and TU are reporting everything however, EX is not reporting my DISCO CC that is maxed out and as a result, my score has not adjusted. I called DISCO and they said they sent it and also resent yesterday per my call. The close date was 8/4/22.

 

Do you know why EX has not updated this account? 

 

 

[StantheMan]

On 8/13/2022 at 12:22 PM, maverick9 said:

I eat out a lot and buy daily on Amazon. 

 

I have read many threads on CB that have touted having tier 1 banks/creditors has clout. It's almost like when someone pulls up in a Toyota vs a Mercedes. You're just taken more serious and given respect. 

 

I use to work for a major mortgage company and witnessed underwriters make comments that they don't see tier 1 accounts on ones application. 

Any businessman who gives more “respect”to a Benz driver over a Toyota driver is a poor one not to mention two rungs below a jerk.

[maverick9]

1 hour ago, StantheMan said:

Any businessman who gives more “respect”to a Benz driver over a Toyota driver is a poor one not to mention two rungs below a jerk.

@StantheMan I hear you and agree but in my experience in this life, it is a very natural human reaction. People look at those who are succesful completely different vs those who aren't . Even if the person pulling up in a Mercedes is a drug dealer and illegitimate, which the observer wouldn't know unless they knew the person, are looked at in a positive view. We all have done it. To say otherwise is simply false. 

Edited August 15, 2022 by maverick9

[centex]

3 hours ago, maverick9 said:

So I checked my tri-merged reports via Experian.com and EQ and TU are reporting everything however, EX is not reporting my DISCO CC that is maxed out and as a result, my score has not adjusted. I called DISCO and they said they sent it and also resent yesterday per my call. The close date was 8/4/22.

 

Do you know why EX has not updated this account?

NEVER make ANY decision through a tri-merge report. 

 

ALSO remember that front line CSR phone staff generaly have ZERO clue about how the sausage is made.  That necessarily includes when data gets reported. 

[centex]

2 minutes ago, maverick9 said:

@StantheMan I hear you and agree but in my experience in this life, it is a very natural human reaction. People look at those who are succesful completely different vs those who aren't . Even if the person pulling up in a Mercedes is a drug dealer and illegitimate, which the observer wouldn't know unless they knew the person, are looked at in a positive view. We all have done it. To say otherwise is simply false. 

In some lines of work, this might still be accurate, but in MANY lines of work, it would signal to me that, provided that the Toyota is not four different colors, including two shades of primer, that the driver/owner is fiscally prudent and does not need the status of an overpriced Benz to win customers. 

 

That said, I know some still make assumptions...I get them made about one of mine simply because it is a Jag with the leaper on the hood...never mind that it is 20 years old. 

[maverick9]

46 minutes ago, centex said:

NEVER make ANY decision through a tri-merge report. 

 

ALSO remember that front line CSR phone staff generaly have ZERO clue about how the sausage is made.  That necessarily includes when data gets reported. 

Don't know what you mean. What decision? 2 of the 3 CRA's show it reported but doesn't show on EX. Why is this and how can I get this resolved? 

[maverick9]

45 minutes ago, centex said:

In some lines of work, this might still be accurate, but in MANY lines of work, it would signal to me that, provided that the Toyota is not four different colors, including two shades of primer, that the driver/owner is fiscally prudent and does not need the status of an overpriced Benz to win customers. 

 

That said, I know some still make assumptions...I get them made about one of mine simply because it is a Jag with the leaper on the hood...never mind that it is 20 years old. 

I'm not even speaking in lines of work. I'm talking even casually. I went to a resort this past weekend. Their were lambos, rolls, mercedes, and other high end cars. I observed peoples reactions of the driver and passengers as they were stepping out. The observers looked at these people as if they were "special" and part of the "elite class". It is what it is. 

 

Your car and your experience is also proving this even though 20 years old is a bit of a stretch but I'm sure people see value in it. 

 

I'm just saying, we all are attracted to success. 

[PotO]

11 hours ago, maverick9 said:

So I checked my tri-merged reports via Experian.com and EQ and TU are reporting everything however, EX is not reporting my DISCO CC that is maxed out and as a result, my score has not adjusted. I called DISCO and they said they sent it and also resent yesterday per my call. The close date was 8/4/22.

 

Do you know why EX has not updated this account? 

 

 

 

Wait a minute!  You are actually complaining that a maxed out credit card is not reporting???????????

 

A maxed out credit card will almost never help your FICO Score.  High UTIL will drop a score and could cause other creditors to take adverse action against you.  

[PotO]

8 hours ago, maverick9 said:

@StantheMan I hear you and agree but in my experience in this life, it is a very natural human reaction. People look at those who are succesful completely different vs those who aren't . Even if the person pulling up in a Mercedes is a drug dealer and illegitimate, which the observer wouldn't know unless they knew the person, are looked at in a positive view. We all have done it. To say otherwise is simply false. 

 

Back to credit and your analogy of having a Chase tradeline ...

 

Get a Stinkrony Care Credit card.  Lobotomies are on sale this week.  

[maverick9]

2 hours ago, PotO said:

 

Wait a minute!  You are actually complaining that a maxed out credit card is not reporting???????????

 

A maxed out credit card will almost never help your FICO Score.  High UTIL will drop a score and could cause other creditors to take adverse action against you.  

I'm well aware that a maxed out credit card hurts the score. This has nothing to do with a CRA not reporting after 11 days after the closing date like it has been for 2 years straight.

Edited August 16, 2022 by maverick9

[hdporter]

6 hours ago, PotO said:

 

Back to credit and your analogy of having a Chase tradeline ...

 

Get a Stinkrony Care Credit card.  Lobotomies are on sale this week.  

 

You've posted to this thread 48 times??

 

Damn!  I thought I had time to burn!  🙄

[shifter]

8 hours ago, maverick9 said:

I'm well aware that a maxed out credit card hurts the score. This has nothing to do with a CRA not reporting after 11 days after the closing date like it has been for 2 years straight.

I thought you were complaining because it was maxed out and you paid it off and it's not reporting. If you are really calling Disco because a maxed out card didn't update, you need to rethink your priorities and focus on what matters. Cards don't update every month for lots of different reasons. But you only complain when you pay them off and are prepping for an app and need it to show the lower balance. Otherwise it's chasing after the wind.