You are eligible to apply for a credit limit increase every 3 months. You can apply for a credit limit decrease at any time, providing: Show
Following a credit limit decrease, you will be subject to the usual credit limit increase criteria should you later decide that you wish to increase your limit. Usual credit limit is 2X or 3X of your monthly income. Suppose your salary slip shows Rs. 50,000 per month, you can expect Rs. 1 Lakh – 1.5 Lakh credit limit. How many credit cards should you own?If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.How many Discover cards can you have?Here is how many Discover cards you can have:As a primary cardholder: Up to 2 accounts. You must have the 1st card open for a year before getting a second. Your 2nd card can be different or the same, but only one can be a student or secured card. Per account: You can get up to 5 cards for authorized users per account. Discover has been good to me. They started me out last August with a 12K SL. Then after 3 months, I clicked the button and got a 4K increase. Then for the next three months, I've gotten another 2K total. They finally gave me my first denial for not enough experience last week. I'm thinking this is just because I have a balance of 22% UTI right now from a large purchase that I have not paid off yet. Started Rebuild 4/2018: EX 616| TU 604| EQ 621 First Goal Score: 750+ Reached 3/2019 Next Goal all over 800 For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.Permalink Report Abuse Discover will automatically increase the credit limit for eligible credit card accounts based on periodic account reviews that typically begin six months after an account is opened. Automatic credit limit increases are done at Discover's discretion, and there's no guarantee when one will occur. How to Get an Automatic Credit Limit Increase From DiscoverYou don't have to do anything for Discover to review your account for an automatic increase. However, taking the following steps will boost the odds of getting Discover to automatically increase your credit limit:
It is also worth mentioning that a Discover credit limit increase requires a soft pull of your credit, which does not affect your credit score. “Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. About our Review BoardWritten by Nicole Dieker Written by Nicole DiekerArrow RightPersonal Finance Contributor Nicole Dieker has been a full-time freelance writer since 2012—and a personal finance enthusiast since 2004, when she graduated from college and, looking for financial guidance, found a battered copy of Your Money or Your Life at the public library. In addition to writing for Bankrate, her work has appeared on CreditCards.com, Vox, Lifehacker, Popular Science, The Penny Hoarder, The Simple Dollar and NBC News. Dieker spent five years as writer and editor for The Billfold, a personal finance blog where people had honest conversations about money. Dieker also teaches writing, freelancing and publishing classes and works one-on-one with authors as a developmental editor and copyeditor. Nicole Dieker Reviewed by Antonio Ruiz-Camacho Reviewed by Antonio Ruiz-CamachoArrow RightFormer Senior Director of Content Antonio Ruiz-Camacho is senior director of content for CreditCards.com and Bankrate Credit Cards. He has more than 20 years of international experience leading content teams, focused on consumer advice, technology and immigration. |
How often does discover raise credit limit
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