Introduction
It’s tribal knowledge that Discover gives out a very low credit line, especially on the Discover Miles card. I’ve tried numerous times in the past to move credit from my IT card to the Miles card and have gotten rejected. The only time I’ve heard of it working was if you got a pending approval on submission, call them up, and the rep can reallocate on approval. However, a reader just found out a new way, which he’s let me share (verbatim from him):
Follow up from a while back trying to re allocate credit limit onto a new Discover It Miles card. Only got an $8.5k credit limit at approval (old Discover had $12.5k) and HUCAd a few times but kept getting similar story – have to wait 3 months, then request credit limit increase and should unlock ability to shift credit. Well, after my first 2 stmts (first one was little longer than 30 days, like 40) I decided to give it a whirl. Clicked request credit limit increase in app. Got a $3k increase right away so called in and explained and got transferred to credit limit increase department. They saw my approved credit limit increase and sure enough they said that now gives ability to shift around. Moved over $9.5k on top of the $3k I got in the app to get to $21k with the It Miles and left $3k on my 5% It card. No credit pull on the increase. Still not sure if possible to reallocate at approval (not from my experience at least) but at least giving a DP you can move nearly everything later if you give it a few months.
Lessons Learned
There you have at it. At the 3 month mark, ask for a CL increase online and then call in to reallocate CL.
HT to Twitter user @millionmilematt
Just opened discover it miles card. Already have an old discover it. Old card has 20k CL, new IT miles has 8k. Called in to see if I could reallocate as much as possible over, but was told the exact same thing as above. Interesting that you have to get a Credit Line Increase approval before reallocating more. I will do this in 3 months.
I was just doing research on this issue this morning. Great DP!