Get ready to read. This is a long one. I hate reading reviews that with only a few sentences. I am 29 yrs old and learned the importance of finances early. The only mistake I made was co-signing for two "friends" vehicles when I was 19. Soon after, late paymentsd started and continued and finally reposession. I had to let both vehicles go because I couldnt afford two payments on top of my own. I made the very difficult decison, to file for BK in 2009. The BK finally went through in 2010. Immediatley after I applied for credit one bank card (dont remember my credit score but it was low) and was approved for a $250 CL. I enrolled my cell phone bill on auto pay with this card and ripped it up and threw it away. In 2011 I purchased a new vehicle for $15,000. Only Capital One approved my loan and as expected I had a high interest rate (11.3). I paid that vehicle off in 2.5 years. Through out this time my CL increased a couple hundred here and their on my credit one card that is only used for my cell. Fast forward to Nov of 2013. I applied for the Disvoer it card. I was excited because I figured a no missed payments, everthing paid in full or paid off early, I was expecting a good CL. I was disappointed when I was approved for a $1000 CL. I was greatful to be approved but was hoping for a higher limit. So I used the card and gradual random increases started. About 7 months after having the card I was given a 2900 credit increase which brough be to CL of 3900. In July of this year I was blown away with a random increase of 5100, giving me a a CL of 9000! I couldnt believe it!!! Last Saturday, I called to ask for a lower interest rate and the best they could do was 2.5%. It's better then nothing. I went online the following day and seen the "Request Credit Increase" button. I figured why not, since ive never asked for one. I hit the button and BOOM!!! I was approved for an increase of 4500 with no hard hit inquiry, giving me CL for a grand total of 13500!! GET OUT OF MY LIFE I CANT BELIEVE IT!!! I still have the credit one card because it is my oldest account. My cell bill is still on auto pay with that card to keep it active. As of today my TU is 723 and EQ is 721. I also have Discover cash back checking account. which is awesome to. You earn cash back for using it! and their customer service is awesome. This highest balance I ever owed on this card was 2700
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So I have had my Discover IT card for over a year 3k limit. I just got an e-mail from them tonight stating that they cut my limit too 1000, that I am now over my limit by 500. Called them to find out why they cut my limit. Was told I had too many new inquiries and recently opened too many accounts. Looking at my Credit Karma report from Monday, it shows that I have 2 new inquires from buying my car and a new auto loan. I just don't feeling like that was enough reason for Discover to cut my balance in half, I also think that cutting my balance and putting me over my limit and demanding payment a week before Christmas is kind of sketchy. I will be closing this card at the end of the month in favor of my AmEx Blue Cash the rewards aren't as good but AmEx is way better of a company.
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